Blauwwind overview April 18th 2019 Sil Draaisma – Construction Manager Michiel Spoor – Operations Manager 16-9-2019

Agenda Blauwwind Consortium Project Scope & Roles Project Timeline Blauwwind schedule Fabrication Operations Phase

Blauwwind Consortium Concession and SDE+ Subsidy Shareholders Board and Project Team PPA EPC Contractors Our Neighbours Lenders History of the Consortium Partners, Bid 1, etc Many more stakeholders EZ, RWS, SODM, Coastguard, Port of Vlissingen, Bow Terminal, local neighbours, fisherman, employment agencies, etc Marine coordination is key Facility Agent Rabobank Account ABN Amro 10 other banks involved TSO LLA – Allen & Overy LTA– Mott MacDonald

Blauwwind's responsibility TenneT's responsibility Project Scope & Roles Key technical characteristics: State-of-the-art turbines: MHI Vestas V164-9.5 MW Proved foundation design: Monopile foundation provided by Van Oord Efficient array cables: Electricity generated from the WTGs will be collected via 66 kV inter-array cables provided by Van Oord and transported to Borssele Beta OHVS(1) Proven grid connection: Transportation from Borssele Beta OHVS(1) to the onshore grid via two 220 kV export cables provided by TenneT Borssele III Borssele IV MHI Vestas WTGs Monopile 66 kV inter-array cables TenneT 220 kV export cable TenneT platform Borssele Beta OHVS(1) Blauwwind's responsibility TenneT's responsibility Measurement and connection point for PPA and SDE+ Wind park owner rooms (SCADA system etc.) TenneT onshore substation Onshore Onshore wind park owner control rooms 2 TenneT 380 kV Grid 1 Explain scope split 3 4 TenneT AC cables TenneT Van Oord MHI Vestas Offshore Wind (1) OHVS (offshore high voltage substation) contains dedicated area where Blauwwind Project specific assets can be installed

Blauwwind (Project company) Project Timeline Tender process Development Construction operation decommissioning PHASE Jul 2016 – Dec 2016 ~0.5 year Jan 2017 – Jun 2018 ~1.5 years July 2018 – Jan 2021 ~2.5 years Feb 2021 – Jan 2046 25 years Feb 2046 – Dec 2046 ~1 year TIMING All development activities leading to: Technical design Planning Contracting Financing Dual contract strategy with minimal construction risk (fixed lump-sum agreements incl. extensive securities and delay damages): MHI Vestas (TSA) Van Oord (BoP EPC contract) Permit foresees decommissioning obligation Decommissioning can start from year 25 and should be completed in year 30 the latest (concession end) Tender submitted in September 2016 Tender won on 12 December 2016 with a bid of EUR 54.5/MWh Safe operation Maintenance Optimisation of profitability Cost optimisation KEY ACTIONS PARTIES INVOLVED Consortium Partners MHI Vestas Blauwwind (Project company) Financial close by 28 June 2018 New investor joined Today

Blauwwind high level schedule 2019 2020 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Survey Visual Inspection and debris removal UXO removal Primary Steel Production (monopiles) Monopile Installation Secondary Steel Production (boat landing, platform) Infield cable production Scour installation 1 Scour installation 2 Cable Lay 1 BOR I/II Cable Lay 2 BOR I/II Cable Lay 3 Turbine Production (nacelle, blades, etc.) Pre-assembly activities (Vlissingen) WTG Installation WTG Commissioning APR OHVS Topside installation JUL OHVS Energized Van Oord Installation sea cables (220 kV) MVOW Hook-up & Commissioning OHVS TenneT

Fabrication Explain scope split

Offshore Construction Explain scope split

Offshore Construction Explain scope split

Operations Phase Key characteristics: The O&M setup is based on synergies with the existing portfolio of Blauwwind shareholders and main contractors. The project will be operated by Eneco Wind Offshore Operations (EWOO) who are already operating windfarms Amalia and Luchterduinen. The maintenance of the turbines will be executed by MHI Vestas under a long term service contract. Blauwwind will procure one or two maintenance suppliers for foundation maintenance end of 2019. A Service Operations Vessel (SOV) will be shared with neighboring windfarms in Belgium. The SOV can deploy smaller vessels (daughter crafts) to ensure maximum flexibility. The SOV in essence is the Blauwwind maintenance base offshore, port calls (parts, crew changes) will be made out of the port of Oostende.

Foundation maintenance Scope: Yearly inspections (in- and external) Coating inspections and repairs Under water surveys of foundation, scour protection and infield cables Inspection of the corrosion protection system (ICCP) supplychain@blauwwind.nl

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