85/15 Implementing DONG Energy's vision to provide clean and reliable energy Anders Eldrup, CEO DONG Energy Clean & reliable energy – from source to socket British Chamber of Commerce 21 September 2011

Focus areas for current activities 2

Our basic assumptions 3 The demand for energy will grow Diversification Focus on upstream Conversion away from coal towards cleaner energy sources Avoid dependency (countries, fuels, technologies) Clean energy is vital

Green Energy Green Energy DONG Energy's vision is to produce clean and reliable energy 4 15 / 8585 / 15 50/

Clean and reliable energy VISION

The impact of our strategy is already visible 6 DONG Energy's energy mix 2015E

85/15 – less coal and more renewables Additional renewable production Offshore Wind MW Green conversion of fossil production 638 g CO 2 /kWh 320 g CO 2 /kWh 2010 Fuel (PJ) In operation Under construction ~ 6 mill. tons coal ~ 2 mill. tons coal Biomass Coal

Reliable energy through diversification 8 WIND BIOMASS GAS

Rapid development in our off-shore wind activities – especially in the UK Burbo Bank, Avedøre, Horns Rev II, Gunfleet Sands, Karnice, Karcino, Lake Otrowo, Storrun, Mehuken Walney I, Walney II, Lincs, Anholt, London Array I, West of Duddon Sands, Borkum Riffgrund I, Karwice Vindeby, Tunø Knob, Middelgrunden, Horns Rev 1, Nysted, Barrow, andre DK onshore Capacity (GW) 0,7 1,0 2,0+ Offshore vindpark Onshore vindpark

Increasing geographic diversification Continued diversification of the power production Power production (volume)

11 Growing Green