Cadeler A/S — Director's Dealing 2025

Oct 1, 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 of the Board of Directors
b)	Initial notification /Amendment	Initial notification
3	or auction monitor			Details of the issuer, emission allowance market participant, auction platform, auctioneer
a)	Name	Cadeler A/S
b)	LEI	9845008439EUED140282
4.1	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 been
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 49.66	128
		NOK 49.93	2,320
		NOK 49.97	282
		NOK 49.98	229
		NOK 50.01	1,190
		NOK 50.02	1,325
		NOK 50.05	1,526
		NOK 50.15	764
		NOK 50.18	211
		NOK 50.58	1,809
		NOK 50.60	426
d)	Aggregated information - Aggregated volume - Price	Average price per share: NOK 50.13 Total number of shares: 10,210 shares Total price: NOK 511,830.47
e)	Date of the transaction	30 September 2025

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f)	Place of the transaction	AQUIS EXCHANGE EUROPE AUCTION ON DEMAND (AOD), AQEA
4.2	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 been
	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 49.52 NOK 49.60 NOK 49.80 NOK 49.93 NOK 49.94 NOK 49.95 NOK 50.01 NOK 50.02 NOK 50.05 NOK 50.08 NOK 50.10 NOK 50.38 NOK 50.48 NOK 50.55 NOK 50.58	Volume(s) 645 60 88 1,005 1,000 640 2,543 1,657 40,815 3,101 2,235 589 1,000 1,740 237
	Aggregated information - Aggregated volume Price	Total price: NOK 2,871,560.00	Average price per share: NOK 50.07 Total number of shares: 57,355 shares
	Date of the transaction	30 September 2025
	Place of the transaction	AQUIS EXCHANGE EUROPE NON DISPLAY ORDER BOOK (NDOB), AQED
4.3	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 been
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772

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b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 49.48	45
		NOK 49.52	500
		NOK 49.54	60
		NOK 49.58	326
		NOK 49.62	127
		NOK 49.66	31
		NOK 49.68	31
		NOK 50.05	82
		NOK 50.25	107
		NOK 50.50	500
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 49.88 Total number of shares: 1,809 shares Total price: NOK 90,234.21
e)	Date of the transaction	30 September 2025
f)	Place of the transaction		AQUIS EXCHANGE EUROPE, AQEU
4.4	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 been
a)	Description of the financial	Shares
	instrument, type of instrument and identification code	ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares

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c) Price(s) and volume(s) Price(s) Volume(s) 764 NOK 49.53 25 NOK 49.54 462 NOK 49.59 11,156 NOK 49.68 362 NOK 49.73 287 NOK 49.76 1,492 NOK 49.94 392 NOK 49.95 1,428 NOK 49.97 864 NOK 49.98 3,826 NOK 50.01 4,807 NOK 50.02 3,832 NOK 50.03 2,008 NOK 50.05 1,270 NOK 50.08 5,481 NOK 50.10 764 NOK 50.13 461 NOK 50.15 4,510 NOK 50.18 238 NOK 50.40 3,139 NOK 50.55 313 NOK 50.58
1,318 NOK 50.60
d) Aggregated information Average price per share: NOK 50.00
- Aggregated volume Total number of shares: 49,199 shares
Price Total price: NOK 2,460,161.33
e) Date of the transaction 30 September 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
Shares
a) Description of the financial instrument, type of ISIN DK0061412772 instrument and
identification code
b) Nature of the transaction Purchase of shares

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c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 49.60	60
		NOK 49.70	256
		NOK 49.75	1,493
		NOK 49.78	184
		NOK 49.79	88
		NOK 49.80	44
		NOK 49.93	143
		NOK 49.94	1,608
		NOK 49.96	521
		NOK 49.97	2,224
		NOK 50.01	8,408
		NOK 50.02	5,108
		NOK 50.03	2,900
		NOK 50.05	23,515
		NOK 50.08	4,278
		NOK 50.10	2,332
		NOK 50.15	748
		NOK 50.18	616
		NOK 50.33	588
		NOK 50.38	1,189
		NOK 50.40	741
		NOK 50.55	25,247
		NOK 50.58	3,110
d)	Aggregated information	Average price per share: NOK 50.21
	- Aggregated volume	Total number of shares: 85,401 shares
	- Price	Total price: NOK 4,288,062.58
e)	Date of the transaction	30 September 2025
f)	Place of the transaction			CBOE EUROPE - DXE DARK ORDER BOOK (NL), CEUD
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 financial	Shares
	instrument, type of
	instrument and	ISIN DK0061412772
	identification code
b)	Nature of the transaction	Purchase of shares

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c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 49.48	761
		NOK 49.52	159
		NOK 49.54	555
		NOK 49.56	568
		NOK 49.58	620
		NOK 49.60	762
		NOK 49.62	833
		NOK 49.64	816
		NOK 49.66	620
		NOK 49.68	610
		NOK 49.82	162
		NOK 49.84	159
		NOK 49.86	231
		NOK 49.88	2,953
		NOK 49.90	171
		NOK 50.00	1,574
		NOK 50.05	90
		NOK 50.20	921
		NOK 50.25	4,068
		NOK 50.45	102
		NOK 50.50	823
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 49.92 Total number of shares: 17,558 shares Total price: NOK 876,545.94
e)	Date of the transaction	30 September 2025
f)	Place of the transaction			CBOE EUROPE - DXE ORDER BOOKS (NL), CEUX
4.7	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 been
a)	Description of the financial	Shares
	instrument, type of instrument and identification code	ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares

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c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 50.05	6,275
		NOK 50.38	5,390
		NOK 50.55	6,680
d)	Aggregated information	Average price per share: NOK 50.33
	- Aggregated volume	Total number of shares: 18,345 shares
	Price	Total price: NOK 923,259
e)	Date of the transaction	30 September 2025
f)	Place of the transaction	BLOCKMATCH EUROPE DARK, EBLX
4.8	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 been
a)	Description of the financial	Shares
	instrument, type of
	instrument and	ISIN DK0061412772
	identification code
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 49.76	5,052
		NOK 49.78	5,052
d)	Aggregated information	Average price per share: NOK 49.77
	- Aggregated volume	Total number of shares: 10,104 shares
	Price	Total price: NOK 502,876.08
e)	Date of the transaction	30 September 2025
f)	Place of the transaction	HRTEU LIMITED, HREU
4.9	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 been
a)	Description of the financial	Shares
	instrument, type of
	instrument and	ISIN DK0061412772
	identification code
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 50.02	654

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d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 50.02 Total number of shares: 654 shares Total price: NOK 32,709.81
e)	Date of the transaction	30 September 2025
f)	Place of the transaction			TP ICAP EU - MTF - LIQUIDNET EU EQUITY, LNEQ
4.10	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 been
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 49.60 240
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 49.60 Total number of shares: 240 shares Total price: NOK 11,904.00
e)	Date of the transaction	30 September 2025
f)	Place of the transaction	FIRST NORTH SWEDEN – NORWAY, ONSE
4.11	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 been
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 49.71	Volume(s) 54,046
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 49.71 Total number of shares: 54,046 shares Total price: NOK 2,686,626.66
e)	Date of the transaction		30 September 2025
f)	Place of the transaction			SIGMA X EUROPE NON-DISPLAYED BOOK, SGMU

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4.12	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 been
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 49.46 NOK 49.60 NOK 49.66 NOK 49.71 NOK 49.72 NOK 49.73 NOK 49.75 NOK 49.76 NOK 49.94 NOK 49.96 NOK 49.97 NOK 49.98 NOK 50.01 NOK 50.02 NOK 50.05 NOK 50.08 NOK 50.10	Volume(s) 752 679 509 340 334 338 334 340 1,522 2,035 5,814 4,499 4,600 4,581 4,804 2,379 5,029
d)	Aggregated information	NOK 50.55	274 Average price per share: NOK 49.99
	- Aggregated volume Price	Total price: NOK 1,957,577.60	Total number of shares: 39,163 shares
e)	Date of the transaction	30 September 2025
f)	Place of the transaction	SIGMA X EUROPE AUCTION BOOK, SGMV
4.13	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 been
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772

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b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 49.94	516
		NOK 49.97	229
		NOK 50.55	99
		NOK 50.58	39
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 50.04 Total number of shares: 883 shares Total price: NOK 44,189.05
e)	Date of the transaction	30 September 2025
f)	Place of the transaction	TURQUOISE EUROPE - LIT AUCTIONS, TQEA
4.14	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 been
a)	Description of the financial	Shares
	instrument, type of	ISIN DK0061412772
	instrument and
	identification code
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 49.66	30
		NOK 49.75	42
		NOK 49.80	108
		NOK 49.94	1,000
		NOK 50.01	2,165
		NOK 50.02	480
		NOK 50.05	2,696
		NOK 50.08	602
		NOK 50.10	529
		NOK 50.15	640
		NOK 50.18	616
		NOK 50.38	164
		NOK 50.55	502
		NOK 50.58	882
d)	Aggregated information	Average price per share: NOK 50.11
	- Aggregated volume	Total number of shares: 10,456 shares
	Price	Total price: NOK 523,997.13

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e)	Date of the transaction	30 September 2025
f)	Place of the transaction	TURQUOISE EUROPE – DARK, TQEM
4.15	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 been
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 49.48 NOK 49.54 NOK 49.56 NOK 49.58 NOK 49.62 NOK 49.64 NOK 49.66 NOK 49.68 NOK 49.84 NOK 50.00 NOK 50.05 NOK 50.25	Volume(s) 248 106 191 310 62 248 236 234 72 240 361 452
d)	Aggregated information - Aggregated volume - Price	Average price per share: NOK 49.80 Total number of shares: 2,760 shares Total price: NOK 137,459.61
e)	Date of the transaction	30 September 2025
f)	Place of the transaction	TURQUOISE EUROPE, TQEX
4.16	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 been
a)	Description of the financial instrument, type of instrument and identification code	Shares ISIN DK0061412772
b)	Nature of the transaction	Purchase of shares

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c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NOK 49.52	201
		NOK 49.54	398
		NOK 49.56	330
		NOK 49.58	2,069
		NOK 49.60	2,400
		NOK 49.62	1,750
		NOK 49.64	700
		NOK 49.66	700
		NOK 49.67	130,000
		NOK 49.78	26,304
		NOK 49.80	600
		NOK 49.84	202
		NOK 49.88	3,976
		NOK 49.90	12,453
		NOK 50.05	99
		NOK 50.50	899
		NOK 50.80	155,707
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 50.21 Total number of shares: 338,788 shares Total price: NOK 17,010,449.69
e)	Date of the transaction	30 September 2025
f)	Place of the transaction	Oslo Stock Exchange, XOSL
4.17	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 been
a)	Description of the financial	Shares
	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 49.68	136,806
		NOK 50.05	15,680
		NOK 50.55	5,880
d)	Aggregated information	Average price per share: NOK 49.75
	- Aggregated volume	Total number of shares: 158,366 shares

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e)	Date of the transaction	30 September 2025
f)	Place of the transaction	POSIT AUCTION, XPAC
4.18	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 been
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 49.61 NOK 49.68 NOK 50.02 NOK 50.04 NOK 50.05 NOK 50.08 NOK 50.10 NOK 50.15 NOK 50.18 NOK 50.28 NOK 50.55	Volume(s) 324 452,870 4,224 1,960 42,140 11,903 33,320 2,940 1,402 1,490 34,300
d)	Aggregated information - Aggregated volume Price	Average price per share: NOK 49.80 Total number of shares: 586,873 shares Total price: NOK 29,225,039.83
e)	Date of the transaction	30 September 2025
f)	Place of the transaction	POSIT DARK, XPOS