Project related Combined Marine- and Construction Allrisk Insurance (Primary Policy) and Third Party Liability Insurance for one Offshore Grid Connection System located in the German Baltic Sea

The Grid Connection system is consisting of
- 525kV 2 GW DC cable systemswith a total length of approx. 110 km offshore and 5 km onshore
- Offshore Converter Platform incl. auxiliary equipment
- Onshore Converter Station incl. auxiliary equipment

Insured Interest:
‘All Risks’ of physical loss or physical damage in respect of the “Ostwind 4” Offshore Grid Connection System Project plus removal of Wreck, Debris and Sue & Labour and other coverage as per wording.
Insurance policy wording will grant seamless transition from Marine- to Construction Allrisk Insurance. Inception of insurance cover will be with start of assembly of Offshore Converter Topside in the Shipyard estimatedon 29th of May 2026. The insurance period will end with final taking-over of the whole project estimated in May 2026, followed by 24 months of Extended Maintenance.

Keyfacts of tendered Coverage:
Combined Marine and Construction Allrisk Insurance for HV/DC Grid Connection System Ostwind 4 (Primary Policy)
Single Loss Limit: 400,000,000 EUR
Deductibles:
Transportation onshore/offshore: 2,500,000 EUR (optional 250,000 EUR) each and every occurrence
Onshore works: 200,000 EUR each and every occurrence
All other: 5,000,000 EUR (optional 1,500,000 EUR) each and every occurrence

Project related Third Party Liability Cover including Environmental Liability Cover and Environmental Impairment
Cover including all deliverables and works of insured contractors. Works related to this projects will be performed onshore as well as offshore.
This insurance will grant coverage for legal liability and – as far as explicit included - contractual liability
- of co-insured contractors, subcontractors including joint-ventures working on this project,
- of experts, architects, engineers, project manager (project developer, project controller) as well as specialist experts and safety coordinators, involved in the project,
- freelancer with regard to claims, which will be incurred by performing works in the interest of the Principal
Insured.
With regard to co-insured contractors and their respective subcontractors is agreed that their own insurances will be primary to this insurance – this insurance will grant DIC/DIL coverage subsidiary to existing insurances of co-insureds. If the primary insurance of co-insured subcontractors will not grant coverage, this DIC/DIL insurance will grant coverage based on agreed terms and conditions, including personal liability of respective subcontractor related to the insured project.

Keyfacts of tendered Coverage:
Third Party Liability Cover including Environmental Liability Cover and Environmental Impairment Cover for HV/ DC Grid Connection System Ostwind 4
Limit of Liability: 50,000,000 EUR per occurrence and in the aggregate
Deductible for claims related to Principle Insured: 100,000 EUR each and every occurrence for claims related to other Insured: 25,000,000 EUR each and every occurrence