Governance and oversight of the transition plan: Matters related to the transition plan are addressed within our sustainability governance framework. The elements of our transition plan are fully disclosed in our annual report, which is presented to shareholders for approval at the annual general meeting (AGM), providing them with an opportunity to offer feedback.

Physical climate risks are managed through our 'Enterprise risk management (ERM) framework', supported by dedicated teams. This framework provides a high-level, principle-based structure for addressing all risks to which Ørsted may be exposed. The ERM framework sets the standards for individual risk frameworks across the organisation, ensuring that risks are identified and managed in line with the appetite for risk.