Ørsted — Share Issue/Capital Change 2016

Jun 20, 2016

NOT FOR RELEASE OR DISTRIBUTION OR PUBLICATION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

This announcement does not constitute an offering circular and nothing herein
contains an offering of securities.

Morgan Stanley & Co International plc. has, in its capacity as stabilising
manager in the initial public offering and listing of DONG Energy A/S,
exercised the overallotment option on behalf of the managers to purchase
10,925,159 additional shares at the offer price of DKK 235 per share from the
selling shareholders, other than the Kingdom of Denmark and SEAS-NVE Holding
A/S.

For further information about the overallotment option, reference is made to
company announcement 19/2016 of 9 June 2016 regarding pricing of the initial
public offering of DONG Energy and to the offering circular published by DONG
Energy on 26 May 2016,

As a result, the total number of shares offered in the public offering amounts
to 83,759,552 shares, thereby increasing the total offering size to DKK 19.7
bn. Reference is made to appendix 1 to company announcement 19/2016 for details
about the implications of the exercise of the overallotment option on the
shareholdings of the selling shareholders in DONG Energy.

Bank syndicate and advisors

J. P. Morgan Securities plc., Morgan Stanley & Co International plc., and
Nordea Markets (division of Nordea Bank Danmark A/S) are acting as Joint Global
Coordinators and Joint Bookrunners. Citigroup Global Markets Limited, Danske
Bank A/S and UBS Limited are acting as Joint Bookrunners. ABG Sundal Collier
Denmark, branch of ABG Sundal Collier ASA, Norge, Coöperatieve Rabobank U.A and
RBC Europe Limited (trading as RBC Capital Markets) are acting as Co-lead
Managers. Lazard & Co., Limited is acting as financial advisor to DONG Energy
and Rothschild is acting as financial advisor to the Kingdom of Denmark as the
majority shareholder.

For additional information, please contact:

Media Relations
Martin Barlebo
+45 99 55 95 52

Media Relations (UK only):
Victoria Palmer-Moore, Ian Middleton, Peter Ogden
Powerscourt
+44 20 7250 1446

Investor Relations
Henrik Brünniche Lund
+45 99 55 97 22

Important notice

This announcement is not an offer to sell or a solicitation of any offer to buy
any securities issued by DONG Energy A/S (the “Company”) in any jurisdiction
where such offer or sale would be unlawful and the announcement and the
information contained herein are not for distribution or release, directly or
indirectly, in or into such jurisdictions.

In any member state of the European Economic Area (“EEA Member State”), other
than Denmark, that has implemented Directive 2003/71/EC as amended (together
with any applicable implementing measures in any EEA Member State, the
“Prospectus Directive”), this announcement is only addressed to and is only
directed at investors in that EEA Member State who fulfil the criteria for
exemption from the obligation to publish an offering circular, including
qualified investors within the meaning of the Prospectus Directive.

Any securities referred to herein have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and
may not be offered or sold in the United States absent registration or an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act. There is no intention to register any
securities referred to herein in the United States or to make a public offering
of the securities in the United States. Any securities sold in the United
States will be sold only to qualified institutional buyers (as defined in Rule
144A under the Securities Act) pursuant to Rule 144A.

In the United Kingdom, this announcement and any other materials in relation to
the securities described herein are only being distributed to, and are only
directed at, and any investment or investment activity to which this
announcement relates is available only to, and will be engaged in only with,
“qualified investors” (as defined in section 86(7) of the Financial Services
and Markets Act 2000) and who are (i) persons having professional experience in
matters relating to investments who fall within the definition of “investment
professionals” in Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as “relevant persons”). Persons who are not relevant persons
should not take any action on the basis of this announcement and should not act
or rely on it.

DONG Energy (NASDAQ OMX: DENERG) is one of the leading Energy groups in
Northern Europe, headquartered in Denmark. Around 6,700 ambitious em¬ployees
are engaged in developing, constructing and operating offshore wind farms;
generating power and heat from our power stations; providing energy to
residential and business customers; and producing oil and gas. Group revenue
was DKK 71bn (EUR 9.5bn) in 2015. For further information, see
www.dongenergy.com.