Vestas Wind Systems — M&A Activity 2016

Apr 28, 2016

Aarhus, Denmark, 2016-04-28 08:30 CEST (GLOBE NEWSWIRE) --

Vestas has been notified that Mitsubishi Heavy Industries Ltd. (MHI) will not
exercise the option to change the ownership ratio of MHI Vestas Offshore Wind
A/S ref. company announcement No. 41/2013 of 27 September 2013. Equity
ownership ratios in MHI Vestas Offshore Wind A/S will consequently remain at 50
percent for each of MHI and Vestas.

“We believe that unchanged ownership shares is the best way to support the
further development of the joint venture while showing the strong partnership
and equal contribution from the two parent companies to the market”, says
Michisuke Nayama, President and CEO, Energy & Environment, Mitsubishi Heavy
Industries Ltd.

Vestas President and CEO Anders Runevad says, “There is an excellent
collaboration between MHI and Vestas in the joint venture, whose business is
developing according to plan. We have said from the beginning that the exact
ownership structure has no real impact on the day-to-day running of the
business, and that remains the case with MHI’s decision. We look forward to
building on the productive working relations with MHI and to MHI Vestas
Offshore Wind’s continued success.”

Contact details
Vestas Wind Systems A/S, Denmark
Hans Martin Smith, Senior Vice President, Group Treasury and Investor Relations
Tel: +45 9730 8209