Cadeler A/S

Director's Dealing • Apr 1, 2025

Reporting of transactions made by persons discharging managerial responsibilities and persons closely associated with them in Cadeler A/S' shares

1	Details of the Reporting Person and their Closely Associated Persons
a)	Name	BW Altor Pte. Ltd.
2	Reason for the notification
a)	Position/status	Closely associated person to Andreas Sohmen-Pao, chairman of the Board of Directors
b)	Initial notification /Amendment	Initial notification
3	auctioneer or auction monitor	Details of the issuer, emission allowance market participant, auction platform,
a)	Name	Cadeler A/S
b)	LEI	9845008439EUED140282
4.1	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 53.00 NOK 53.70	Volume(s) 5,085 184
d)	Aggregated information - Aggregated volume - Price	Average price per share: NOK 53.02 Total number of shares: 5,269 shares Total price: NOK 279,385.80
e)	Date of the transaction	27 March 2025
f)	Place of the transaction	AQUIS EXCHANGE EUROPE AUCTION ON DEMAND (AOD), AQEA
4.2	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and	Shares ISIN DK0061412772

	identification code
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 52.80	781
		NOK 53.00	3,176
		NOK 53.80	210
		NOK 53.90	114
		NOK 54.00	544
d) e)	Aggregated information - Aggregated volume Price Date of the transaction	Average price per share: NOK 53.14 Total number of shares: 4,825 shares Total price: NOK 256,383.40 27 March 2025
f)	Place of the transaction	AQUIS EXCHANGE EUROPE, AQEU
	been conducted			each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 52.40	528
		NOK 52.50	162
		NOK 52.70	324
		NOK 52.75	527
		NOK 52.80	332
		NOK 52.85	698
		NOK 52.90	1,236
		NOK 52.95	4,456
		NOK 53.00	30,878
		NOK 53.05	2,177
		NOK 53.10	552

		NOK 53.30	376
		NOK 53.40	208
		NOK 53.45	184
		NOK 53.50	624
		NOK 53.65	1,164
		NOK 53.75	2,710
		NOK 53.80	214
		NOK 53.85	67
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.06 Total number of shares: 49,604 shares Total price: NOK 2,632,186.60
e)	Date of the transaction	27 March 2025
f)	Place of the transaction		CBOE EUROPE - DXE PERIODIC (NL), BEUP
4.4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the	Shares
	financial instrument, type of instrument and identification code	ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 52.80	983
		NOK 52.90	1,977
		NOK 53.00	4,790
		NOK 53.80	1,260
		NOK 53.90	3,541
		NOK 54.00	4,231
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.48 Total number of shares: 16,782 shares Total price: NOK 897,477.60
e)	Date of the transaction	27 March 2025
f)	Place of the transaction	CBOE EUROPE - DXE ORDER BOOKS (NL), CEUX

4.5	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	been conducted Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 52.90	Volume(s) 218
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 52.90 Total number of shares: 218 shares Total price: NOK 11,532.20
e)	Date of the transaction	27 March 2025
f)	Place of the transaction	CITADEL CONNECT EUROPE – EU, EUCC
4.6	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 52.40 NOK 52.70 NOK 52.85 NOK 52.90 NOK 52.95 NOK 53.00 NOK 53.10 NOK 53.45	Volume(s) 578 457 661 2,142 1,175 3,946 953 778
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 52.96 Total number of shares: 10,690 shares Total price: NOK 566,159.40

e)	Date of the transaction	27 March 2025
f)	Place of the transaction	GOLDMAN SACHS BANK EUROPE SE - SYSTEMATIC INTERNALISER, GSEI
4.7	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 53.80	Volume(s) 3,955
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.80 Total number of shares: 3,955 shares Total price: NOK 212,779.00
e)	Date of the transaction	27 March 2025
f)	Place of the transaction	JANE STREET NETHERLANDS B.V., JNSI
4.8	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 52.90 NOK 53.00	Volume(s) 776,478 573,570
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 52.94 Total number of shares: 1,350,048 shares Total price: NOK 71,474,896.20
e)	Date of the transaction	27 March 2025

f)	Place of the transaction	CBOE EUROPE - LIS SERVICE (NL), LISZ
4.9	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 52.50 NOK 52.70 NOK 52.75 NOK 52.80 NOK 52.85 NOK 52.90 NOK 52.95 NOK 53.00 NOK 53.05 NOK 53.10 NOK 53.50 NOK 53.60 NOK 53.75 NOK 53.80 NOK 53.85 NOK 54.00	Volume(s) 3,406 688 1,440 655 3,909 599 5,514 2,174 841 3,958 1,459 7,018 3,149 5,430 751 1,351
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.25 Total number of shares: 42,342 shares Total price: NOK 2,254,876.90
e)	Date of the transaction	27 March 2025
f)	Place of the transaction	MORGAN STANLEY EUROPE S.E. - SYSTEMATIC INTERNALISER, MESI
4.10	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 52.95 NOK 53.00 NOK 53.30	Volume(s) 7,069 1,534 320
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 52.97 Total number of shares: 8,923 shares Total price: NOK 472,661.55
e)	Date of the transaction	27 March 2025
f)	Place of the transaction	SIGMA X EUROPE AUCTION BOOK, SGMV
4.11		Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
	been conducted
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 52.75 NOK 53.00 NOK 53.40 NOK 53.80	Volume(s) 100 1,500 588 599
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.25 Total number of shares: 2,787 shares Total price: NOK 148,400.40
e)	Date of the transaction	27 March 2025

4.12	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 52.80	608
		NOK 53.00	2,005
		NOK 53.80	1,039
		NOK 53.90	905
		NOK 54.00	593
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.41 Total number of shares: 5,150 shares Total price: NOK 275,067.10
e)	Date of the transaction	27 March 2025
f)	Place of the transaction	TURQUOISE EUROPE, TQEX
4.13	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the	Shares
	financial instrument, type of instrument and identification code	ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 53.00	907
		NOK 54.00	893
d)	Aggregated information	Average price per share: NOK 53.50
	- Aggregated volume	Total number of shares: 1,800 shares
	Price	Total price: NOK 96,293.00
e)	Date of the transaction	27 March 2025

f)	Place of the transaction	DNB BANK ASA, XDNB
4.14	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the	Shares
	financial instrument, type of instrument and identification code	ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 52.80	1,703
		NOK 52.90	5,055
		NOK 53.00	7,935
		NOK 53.80	1,200
		NOK 53.90	1,287
		NOK 54.00	75,132
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.83 Total number of shares: 92,312 shares Total price: NOK 4,968,940.20
e)	Date of the transaction	27 March 2025
f)	Place of the transaction	Oslo Stock Exchange, XOSL
4.15	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the	Shares ISIN DK0061412772
	financial instrument, type of instrument and identification code
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 52.95	2,701
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 52.95 Total number of shares: 2,701 shares Total price: NOK 143,017.95

e)	Date of the transaction	27 March 2025
f)	Place of the transaction	POSIT AUCTION, XPAC
4.16	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a) b)	Description of the financial instrument, type of instrument and identification code Nature of the	Shares ISIN DK0061412772 Purchase of shares
c)	transaction Price(s) and volume(s)	Price(s) NOK 54.00	Volume(s) 4,321
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 54.00 Total number of shares: 4,321 shares Total price: NOK 233,334.00
e)	Date of the transaction	27 March 2025
f)	Place of the transaction	XTX MARKETS SAS, XTXE
4.17	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 53.80	Volume(s) 1,069
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.80 Total number of shares: 1,069 shares Total price: NOK 57,512.20
e)	Date of the transaction	28 March 2025

Place of the transaction	AQUIS EXCHANGE EUROPE AUCTION ON DEMAND (AOD), AQEA
been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
Nature of the transaction	Purchase of shares
Price(s) and volume(s)	Price(s) NOK 53.90 NOK 54.00	Volume(s) 239 1,402
Aggregated information - Aggregated volume Price	Average price per share: NOK 53.99 Total number of shares: 1,641 shares
Date of the transaction	28 March 2025
Place of the transaction	AQUIS EXCHANGE EUROPE, AQEU
been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
Nature of the transaction	Purchase of shares
Price(s) and volume(s)	Price(s) NOK 53.55 NOK 53.65 NOK 53.70 NOK 53.75 NOK 53.80 NOK 53.85	Volume(s) 1,186 3,336 397 2,339 70,301 1,032
		NOK 53.90	Total price: NOK 88,590.10 8,976

		NOK 53.95	2,002
		NOK 54.00	7,675
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.82 Total number of shares: 97,244 shares Total price: NOK 5,233,558.15
e)	Date of the transaction	28 March 2025
f)	Place of the transaction	CBOE EUROPE - DXE PERIODIC (NL), BEUP
4.20	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 53.90 NOK 54.00	Volume(s) 1,284 2,607
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.97 Total number of shares: 3,891 shares Total price: NOK 209,985.60
e)	Date of the transaction	28 March 2025
f)	Place of the transaction	CBOE EUROPE - DXE ORDER BOOKS (NL), CEUX
4.21	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 53.80	Volume(s) 2,244

d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.80 Total number of shares: 2,244 shares Total price: NOK 120,727.20
e)	Date of the transaction	28 March 2025
f)	Place of the transaction	JANE STREET NETHERLANDS B.V., JNSI
4.22	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 53.60	1,170
		NOK 53.80	2,315
		NOK 53.85	782
		NOK 53.90	5,883
		NOK 53.95	1,891
		NOK 54.00	12,988
		NOK 54.10	1,745
d)	Aggregated information	Average price per share: NOK 53.94
	- Aggregated volume	Total number of shares: 26,774 shares
	Price	Total price: NOK 1,444,239.35
e)	Date of the transaction	28 March 2025
f)	Place of the transaction	MORGAN STANLEY EUROPE S.E. - SYSTEMATIC INTERNALISER, MESI
4.23		Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
	been conducted
a)	Description of the	Shares
	financial instrument, type of instrument and identification code	ISIN DK0061412772

b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 53.75	41
		NOK 53.80	627
		NOK 53.90	5,281
		NOK 54.00	300
d)	Aggregated information	Average price per share: NOK 53.89 Total number of shares: 6,249 shares Total price: NOK 336,782.25
	- Aggregated volume
	Price
e)	Date of the transaction	28 March 2025
f)	Place of the transaction	SIGMA X EUROPE AUCTION BOOK, SGMV
4.24	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the	Shares ISIN DK0061412772
	financial instrument,
	type of instrument and
	identification code
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 53.70	94
		NOK 53.90	300
		NOK 54.00	2,447
d)	Aggregated information	Average price per share: NOK 53.98
	- Aggregated volume	Total number of shares: 2,841 shares
	Price	Total price: NOK 153,355.80
e)	Date of the transaction	28 March 2025
f)	Place of the transaction	TURQUOISE EUROPE - LIT AUCTIONS, TQEA
4.25	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
	each type of transaction; (iii) each date; and (iv) each place where transactions have
	been conducted

a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 430 NOK 53.90 107 NOK 54.00
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.92 Total number of shares: 537 shares Total price: NOK 28,955.00
e)	Date of the transaction	28 March 2025
f)	Place of the transaction	TURQUOISE EUROPE, TQEX
4.26	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 892 NOK 53.90 892 NOK 54.00
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.95 Total number of shares: 1,784 shares Total price: NOK 96,246.80
e)	Date of the transaction	28 March 2025
f)	Place of the transaction	DNB BANK ASA, XDNB
4.27	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 53.90 NOK 54.00	Volume(s) 198 1,800
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.99 Total number of shares: 1,998 shares Total price: NOK 107,872.20
e)	Date of the transaction	28 March 2025
f)	Place of the transaction	Oslo Stock Exchange, XOSL
4.28	been conducted	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 53.75	544
		NOK 53.80	1,662
		NOK 53.90	4,480
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 53.86 Total number of shares: 6,686 shares Total price: NOK 360,127.60
e)	Date of the transaction	28 March 2025
f)	Place of the transaction	POSIT AUCTION, XPAC
4.29	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) NOK 53.80 NOK 53.90	Volume(s) 11,712 8,333
d) e)	Aggregated information - Aggregated volume Price Date of the transaction	Average price per share: NOK 53.84 Total number of shares: 20,045 shares Total price: NOK 1,079,254.30 28 March 2025
f)	Place of the transaction	XTX MARKETS SAS, XTXE