CADELER A/S - Update on contract backlog timing

16 Dec 2022 15:00 CET

Copenhagen, 16 December 2022: Reference is made to the listing prospectus
published on 14 December 2022 and Cadeler A/S’ backlog set out herein in section
5.6 Contract coverage and backlog, figure 5.2: Contract revenue backlog.

Cadeler’s backlog consists of firm contracts and options, and the total backlog
is unchanged at EUR 781 million in line with the presentation in the listing
prospectus. However, the Company has found it relevant to clarify the time
periods for the expected timing of revenue recognition from the backlog as
follows:

Within one year: Between one and four years: After four years:
EUR 110 million EUR 389 million EUR 282 million


For further information, please contact:

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

About Cadeler A/S:
Cadeler A/S is a key supplier with the offshore wind industry for installation
services and operation and maintenance works that provides marine and
engineering operations to the offshore wind industry with a strong focus on
safety and the environment. Cadeler’s reputation as provider of high-quality
offshore wind support services, combined with an innovative vessel design,
positioning the company to deliver premium level services to the industry. As a
company, Cadeler continues to pursue new levels of efficiency, pushing beyond
the current boundaries of the supply chain. Cadeler enables and facilitates the
global energy transition towards a future built on renewable energy. Cadeler is
listed on the Oslo Stock Exchange (ticker CADLR).
Forward-looking information
Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believe that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict, and are beyond their control. Actual
events may differ significantly from any anticipated development due to a number
of factors, including without limitation, changes in public sector investment
levels, changes in the general economic, political and market conditions in the
markets in which the Company operates, the Company's ability to attract, retain
and motivate qualified personnel, changes in the Company's ability to engage in
commercially acceptable acquisitions and strategic investments, and changes in
laws and regulation and the potential impact of legal proceedings and actions.
Such risks, uncertainties, contingencies and other important factors could cause
actual events to differ materially from the expectations expressed or implied in
this release by such forward-looking statements. The Company does not make any
guarantee that the assumptions underlying the forward-looking statements in this
announcement are free from errors nor does it accept any responsibility for the
future accuracy of the opinions expressed in this announcement or any obligation
to update or revise the statements in this announcement to reflect subsequent
events. You should not place undue reliance on the forward-looking statements in
this announcement.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.

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578482_Stock Exchange announcement - Update on contract backlog timing.pdf