Cadeler A/S — Director's Dealing 2025

Dec 8, 2025

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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 ofthe 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	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 havebeen conducted
a)	Description of thefinancial instrument,type of instrument andidentification code	SharesISIN DK0061412772
b)	Nature of thetransaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)Volume(s)17,510,330NOK 44.50
d)	Aggregated information-Aggregated volume-Price	Average price per share: NOK 44.50Total number of shares: 17,510,330Total price: NOK 779,209,685.00
e)	Date of the transaction	27 November 2025
f)	Place of the transaction	Outside a trading venue
4.2	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 havebeen conducted
a)	Description of thefinancial instrument,type of instrument andidentification code	SharesISIN DK0061412772
b)	Nature of thetransaction	Purchase of shares

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c)	Price(s) and volume(s)	Price(s)NOK 43.40	Volume(s)208
d)	Aggregated information-Aggregated volume-Price	Average price per share: NOK 43.40Total number of shares: 208Total price: NOK 9,027.20
e)	Date of the transaction	28 November 2025
f)	Place of the transaction	AQEA	AQUIS EXCHANGE EUROPE AUCTION ON DEMAND (AOD),
4.3	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 thefinancial instrument,type of instrument andidentification code	SharesISIN DK0061412772
b)	Nature of thetransaction		Purchase of shares
c)	Price(s) and volume(s)	Price(s)NOK 43.48	Volume(s)1,087
d)	Aggregated information-Aggregated volume-Price	Average price per share: NOK 43.48Total number of shares: 1,087Total price: NOK 47,262.76
e)	Date of the transaction	28 November 2025
f)	Place of the transaction	AQUIS EXCHANGE EUROPE NON DISPLAY ORDER BOOK(NDOB), AQED
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 havebeen conducted
a)	Description of thefinancial instrument,type of instrument andidentification code	SharesISIN DK0061412772
b)	Nature of thetransaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)NOK 43.38NOK 43.39NOK 43.40	Volume(s)8651,3442,927
		NOK 43.47	4,292

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		NOK 43.50	865
		NOK 43.54	1,000
		NOK 43.56	543
		NOK 43.58	2,055
		NOK 43.59	1,983
		NOK 43.73	1,163
		NOK 43.77	3,120
d)	Aggregated informationAverage price per share: NOK 43.54
	-Aggregated volume	Total number of shares: 20,157
	-Price	Total price: NOK 877,681.74
e)	Date of the transaction	28 November 2025
f)	Place of the transaction		CBOE EUROPE - DXE PERIODIC (NL), BEUP
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
	been conducted
a)	Description of the	Shares
	financial instrument,	ISIN DK0061412772
	type of instrument and
	identification code
b)	Nature of the	Purchase of shares
	transaction
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 43.40	131
		NOK 43.46	923
		NOK 43.68	690
d)	Aggregated information		Average price per share: NOK 43.54
	-Aggregated volume	Total number of shares: 1,744
	-Price	Total price: NOK 75,938.18
e)	Date of the transaction	28 November 2025
f)	Place of the transaction	GOLDMAN SACHS BANK EUROPE SE - SYSTEMATIC
		INTERNALISER, GSEI
4.6	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,	ISIN DK0061412772
	type of instrument and
	identification code
b)	Nature of the	Purchase of shares

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	transaction
c)	Price(s) and volume(s)	Price(s)NOK 43.58NOK 43.62NOK 43.79	Volume(s)2,90914,54514,545
d)	Aggregated informationAggregated volume--Price	Average price per share: NOK 43.69Total number of shares: 31,999Total price: NOK 1,398,152.67
e)	Date of the transaction	28 November 2025
f)	Place of the transaction	HRTEU LIMITED, HREU
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 thefinancial instrument,type of instrument andidentification code	SharesISIN DK0061412772
b)	Nature of thetransaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)NOK 43.49NOK 43.52	Volume(s)6,8395,410
d)	Aggregated information-Aggregated volume-Price	Average price per share: NOK 43.50Total number of shares: 12,249Total price: NOK 532,871.31
e)	Date of the transaction	28 November 2025
f)	Place of the transaction	JANE STREET NETHERLANDS B.V., JNSI
4.8	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 havebeen conducted
a)	Description of thefinancial instrument,type of instrument andidentification code	SharesISIN DK0061412772
b)	Nature of thetransaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)NOK 43.70	Volume(s)3,266

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		NOK 43.71	3,228
		NOK 43.76	4,529
		NOK 43.81	3,650
		NOK 43.88	717
		NOK 43.96	1,002
d)	Aggregated information		Average price per share: NOK 43.77
	-Aggregated volume	Total number of shares: 16,392
	-Price	Total price: NOK 717,425.50
e)	Date of the transaction	28 November 2025
f)	Place of the transaction			MORGAN STANLEY EUROPE S.E SYSTEMATIC
		INTERNALISER, MESI
4.9				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,	ISIN DK0061412772
	type of instrument and
	identification code
b)	Nature of the	Purchase of shares
	transaction
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 43.80	47,526
		NOK 43.87	25,610
d)	Aggregated information	Average price per share: NOK 43.82
	-Aggregated volume	Total number of shares: 73,136
	-Price	Total price: NOK 3,205,149.50
e)	Date of the transaction	28 November 2025
f)	Place of the transaction	POSIT DARK, XPOS
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 havebeen conducted
a)	Description of the	Shares
	financial instrument,	ISIN DK0061412772
	type of instrument and
	identification code
b)	Nature of the	Purchase of shares
	transaction
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 43.60	3,210

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d)	Aggregated information	Average price per share: NOK 139,956.00
	-Aggregated volume	Total number of shares: 3,210
	-Price	Total price: NOK 47,262.76
e)	Date of the transaction	28 November 2025
f)	Place of the transaction	XTX MARKETS SAS, XTXE