Cadeler Strengthens its Position in the Asia-Pacific region with a Vessel Reservation Agreement for Two Offshore Wind Projects

30 Sep 2024 09:06 CEST

Copenhagen, 30 September 2024 — Cadeler A/S today announces the signing of a
Vessel Reservation Agreement (VRA) for a pipeline of wind projects in the
Asia-Pacific region. The VRA secures the availability of one of Cadeler’s two
state-of the art newbuild M-Class vessels and underlines Cadeler’s continued
expansion in the Asia-Pacific market.

The aggregate potential value to Cadeler of the development pipeline, to be
negotiated during the pendency of the VRA, is expected to be approximately 200
million EUR.

The pipeline of projects will meet the energy needs of approximately 1,360,000
households when fully operational.

The state-of-the-art newbuild M-Class vessel that is expected to work on these
projects is one of six newbuilds that will be joining Cadeler’s fleet in the
coming years (in addition to the Wind Peak, which Cadeler took delivery of last
month). The signing of this contract underlines Cadeler’s continued expansion in
the Asia-Pacific market.

Mikkel Gleerup, CEO of Cadeler, said: “The Asia-Pacific market has significant
growth potential and is of great interest to Cadeler. Expanding our presence in
that market with this VRA aligns with our global business strategy. With our
first state-of-the-art newbuild received, and six additional newbuilds being
delivered over the coming years, we will be able to handle the largest and most
complex next-generation offshore wind installation projects, further building
our backlog and ensuring that our customers and partners can look to Cadeler as
offering the strongest choice of flexibility and supply-chain certainty”.

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

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:

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 to 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

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