Ørsted — M&A Activity 2013

Dec 12, 2013

DONG Energy has acquired a 100% ownership interest in the UK offshore wind
development project Race Bank, from Centrica. The project has a total consented
capacity of up to 580 megawatt and is located in the Greater Wash area
approximately 27 km off the east coast of England.

The purchase price (enterprise value) for the project is GBP 50 million
(approximately DKK 450 million).

The Race Bank project has received all major consents from UK authorities for
the construction and operation of the wind farm. Extensive geotechnical and
geophysical investigations of the site have already been carried out. The
consents enable offshore construction to commence from 2017.

“Race Bank fits very well into our existing pipeline of offshore wind projects
and will contribute to the achievement of our strategic target of constructing
6,500 MW by 2020. The addition of up to 580 megawatt to our UK project
portfolio underlines our commitment to the UK market in general, and to the UK
offshore wind sector in particular,” said Samuel Leupold, Executive Vice
President of DONG Energy Wind Power.

“The Race Bank project is located relatively close to shore, with good wind
resources, low water depths, and seabed conditions similar to DONG Energy’s
other UK Round 2 projects. I’m confident that given our proven experience in
developing and building offshore wind farms and the forward visibility on
tariffs until the end of the decade created by the EMR - we can turn this into
a successful project,” said Samuel Leupold.

A decision to actually build the project is still pending and depends on a
continued successful development of the farm under DONG Energy’s ownership.

DONG Energy currently has other offshore wind projects under construction on
West of Duddon Sands and Westermost Rough in the UK, as well as Borkum
Riffgrund 1 and Gode Wind 1 + 2 in Germany. These projects have a total
capacity of approximately 1,460 megawatt.

The information provided in this announcement does not change DONG Energy’s
previous financial guidance for the 2013 financial year or the announced
expected investment level for 2013-2014.

For additional information, please contact:

Media Relations
Rune Birk Nielsen
+45 9955 6543

Investor Relations
Allan Bødskov Andersen
+45 9955 9769

DONG Energy is one of the leading energy groups in Northern Europe. Our
business is based on procuring, producing, distributing and trading in energy
and related products in Northern Europe. DONG Energy has approximately 6,500
employees and is headquartered in Denmark. The Group generated DKK 67 billion
(EUR 9.0 billion) in revenue in 2012. For further information, see
www.dongenergy.com