In 2021 the CEO's total target remuneration at Ørsted will be approximately DKK 20 million.

Test: was the CEO's total target remuneration for 2021, which is target remuneration and not actual pay, approximately DKK 20 million? True: the 2021 remuneration report shows a total target remuneration of DKK 18–22 million (within ±10%). Mostly true: DKK 17–18 or 22–23 million. Mostly false: DKK 15–17 or 23–25 million. False: outside DKK 15–25 million.

Set before the research began.

1. E1 Ørsted Remuneration report 2021 Ørsted · 2022 Own record

   “Composition of fixed and variable remuneration, awarded 2021, % Fixed remuneration Variable remuneration CEO CFO CCO 30 % 30 % 30 % DKK 22.0 m DKK 11.8 m DKK 13.2 m”

2. E2 Ørsted Remuneration report 2021 Ørsted · 2022 Own record

   “Total remuneration 21,963 100 16,774 100”

3. E3 Ørsted Remuneration report 2021 Ørsted · 2022 Own record

   “Target of 15 % of the fixed base salary. The maximum bonus amounts to 30 % and will be paid out in case of full achievement of all performance targets.”

The criteria test the CEO's 2021 total target remuneration, not actual or awarded pay. The 2021 remuneration report gives an awarded 2021 total of DKK 22.0m (DKK 21,963 thousand) for the CEO [E1][E2]. It also states the cash incentive target as 15% of fixed base salary [E3], but it does not state a 2021 target total, and the evidence does not include the base salary needed to derive one. The evidence is also the subject's own report rather than an independent source, so the target figure cannot be confirmed under the criteria.