Sustainability Performance 2021

Business model LM Wind Power is a leading designer and manufacturer of wind turbine blades. Our footprint spans nine countries on four con- tinents. Having blade factories in all major wind energy mar- kets, we supply rotor solutions to around 20 global and nation- al turbine manufacturers, whose focuses vary from regional to global and from both onshore to offshore. For our financial performance, please refer to our Annual report 2021. With more than 4 decades of experience, we have worked to be the preferred suppliers of many turbine manufacturers. Almost one-fifth of the turbines worldwide are installed with blades from LM Wind Power. Since 1978, LM Wind Power has produced more than 254,200 blades corresponding to a capacity of approximately 133 gigawatt (GW) – each year contributing to save more than 282 million tons of CO 2 .* LM Wind Power is a GE Renewable Energy business since 2017. Having been a long-time supplier to GE, we have achieved many innovations and commercial successes in our partner- ship. The acquisition enabled us to offer higher performance, power more productive wind turbines while increasing the effi- ciency of our operation and improving returns on our custom- ers’ investments. At the same time, we are equally committed to maintaining and growing our business with all customers. LM Wind Power’s competitive advantage LM Wind Power is one of the pioneers of the modern wind industry, starting rotor blade production in 1978. The compa- ny’s value proposition is based on advanced in-house design, testing and manufacturing technology. Leading technology and know-how Our specialist knowledge ranges from materials and process technology, aerodynamics, calculation and simulation to advanced production and testing of rotor blades. Our engineers constantly push the boundaries of blade size and airfoil shape, strengthening the technological foundation for blades beyond 100 meters length - giants that will power turbines of 10+ megawatt. Our specialist competencies have already repeated- ly put us in front of the size race, with several launches of inno- vative blades of record-breaking lengths. In November 2020, our 107 -meter turbine blade received its Component Certifi- cate and at the end of 2021, we have three 107-meter blade production lines in operation in our footprint to meet the grow- ing offshore wind industry demand. The 107-meter blade is the world’s first blade over 100 meters in length and is one of the biggest single-components ever built. Global capacity and supply chain With production, sales and service facilities in countries includ- ing Brazil, Canada, China, Denmark, India, The Netherlands, Poland, Spain, Turkey, United Kingdom and United States, LM Wind Power is the only blade supplier that operates on a global basis. This global reach ensures close contact to international customers and markets and enables the company to optimize transport and logistics costs, shorten delivery time and reduce working capital requirements. Economies of scale As the world’s largest blades supplier, we reap the benefits of economies of scale within R&D, procurement and global pro- duction. LM Wind Power’s business model is based on a green and reliable product and our unique ability to create value in efficient partnerships, with suppliers and customers as well as internally. Together, we secure clean energy for the world many years into the future. Values Aligned with GE, our values are reflected in the GE Leadership Behaviors – Act with Humility, Lead with Transparency, and Deliver with Focus. Living the GE Leadership Behaviors is an essential part of our lean culture transformation, reflecting how we each aim to act to drive the progress we need. Act with humility We embrace a culture of respect which values inclusive teams and perspectives, we actively listen to internal and external sources, and we learn from our shortcomings as much as we celebrate our wins. Lead with transparency We embrace candor, saying what we think, not what people want to hear; we share information so we can solve problems; and we contribute to each other’s development in a construc- tive way. Deliver with focus We put safety first; we prioritize our work, maximizing our impact; we measure performance through the lens of our cus- tomers; and we are committed to continuous improvement, always in search of a better way. About LMWind Power * United States Environmental Protection Agency, Greenhouse Gas Equivalencies Calculator . 10 | LM WIND POWER SUSTAINABILITY PERFORMANCE 2021