CADLR: Cadeler Signs Firm Contracts with Equinor and Polenergia Joint Ventures for the Installation Vessel Scope for their 1440 MW Offshore Wind Farms in the Polish Baltic Sea

Copenhagen, 1 October 2024 - Cadeler A/S has signed firm contracts with the
offshore wind farms Baltyk 2 and Baltyk 3, both being joint venture projects
owned 50% by Equinor and 50% by Polenergia. The total potential value of these
contracts to Cadeler is expected to be in the range of EUR 120-144 million, with
operations scheduled to begin in 2027.

The Baltyk 2 and Baltyk 3 offshore wind farms will be located in the Baltic Sea,
approximately 22 km and 37 km, respectively, from the port of Leba, Poland. The
projects will involve the installation of a total of 100 offshore wind turbine
generators (WTGs) in the Polish Baltic Sea.

Cadeler plans to deploy both an O-Class and a P-Class vessel for the projects.
Given the complex nature of the project, Cadeler is deploying an innovative
dual-vessel setup, offering the exclusive flexibility the client needs to meet
their capacity targets while showcasing the advantages of having the largest,
most versatile, and capable fleet of jack-up vessels in the industry.

The installation of WTGs is set to begin in 2027. Once operational, the two wind
farms are expected to generate a combined capacity of 1440 MW, providing
electricity equivalent to the needs of more than two million households. The
aggregate potential value of the contracts to Cadeler is anticipated to fall
within the range of EUR 120-144 million.

Mikkel Gleerup, CEO of Cadeler, said: "We are excited to announce a firm
contract for yet another significant milestone project in Poland. This marks our
third major project in the Polish market, showcasing the strong business
potential in that market, driven by increasing demand for renewable energy. We
are proud to support our partners in accelerating the transition to sustainable
energy, with these projects ultimately benefiting more than two million
households. Additionally, this is our first firm contract with Equinor and
Polenergia, and we look forward to working closely together to set the stage for
future successful collaborations."

The vessel reservation agreements with the Equinor and Polenergia joint venture
projects were initially announced on 13 May 2024.

For further information, please contact:

Mikkel Gleerup
CEO, Cadeler
+45 3246 3102
mikkel.gleerup@cadeler.com

Alexander Simmonds
EVP & CLO, Cadeler
+44 7376 174172
alexander.simmonds@cadeler.com

About Cadeler A/S: Cadeler is a global leader in offshore wind installation,
operations, and maintenance services. Cadeler is a pure play company, operating
solely in the offshore wind industry with an uncompromising focus on safety and
the environment. Cadeler owns and operates the industry's largest fleet of
jack-up offshore wind installation vessels and has for more than 10 years been a
key supplier in the development of offshore wind energy to power millions of
households. Cadeler's fleet, expertise and capacity to handle the largest and
most complex next-generation offshore wind installation projects positions the
company to deliver exceptional services to the industry. Cadeler is committed to
being at the forefront of sustainable wind farm installation and enabling the
global energy transition towards a future built on renewable energy. Cadeler is
listed on the New York Stock Exchange (ticker: CDLR) and the Oslo Stock Exchange
(ticker: CADLR). For more information, please visit www.cadeler.com