Sustainability Performance 2020

Message fromCEO Olivier Fontan Spotlight on renewables For the green energy industry, the most welcoming news last year was the increased penetration of renewables, whose share of global generation clocked its biggest annual gain ever. According to the Global Wind Energy Council, 2020 was the best year in history for the global wind industry recording a year-over-year (YoY) growth of 53% and installing more than 93 GW of wind power. Based on present policies and pipelines, expectations are that over 469 GW of new onshore and offshore wind capacity will be added in the next five years - nearly 94 GW of new installations annually until 2025. As pioneers in the wind turbine blade man- ufacturing industry, it is imperative for us to consider how swift- ly we can introduce advanced blade technology and deliver the ramp up in product size, manufacturing footprint, equipment, and logistics in a safe, cost-effective, and sustainable way. The challenges ahead As we move past a year that has witnessed the viral pandemic upend lives and devastate economies, we are aware of a rebound in global emissions to pre-pandemic levels with mar- kets reopening and the challenges that it brings towards accel- erating clean energy transitions worldwide. This rapid resur- gence in global carbon emissions, if not addressed immediately with discernible action, would eventually risk the pledges taken by nations and companies to collectively achieve net-zero emis- sions by mid-century. The wind industry is at the forefront of the global energy transi- tion. As leaders in blade technology our continued efforts to build some of the most advanced, reliable, and high-quality wind turbine blades has enabled customers across various geogra- phies to take a step closer to their green energy ambitions. A significant development in the timeline is return of the U.S. to the Paris Agreement- seen by many as critical in effectively fighting the ongoing climate crisis. Renewed actions to check greenhouse gas emissions by many of the top emitters will go a long way in stepping up their commitment towards a sustain- able future. Olivier Fontan Chief Executive Officer 3 | LM WIND POWER SUSTAINABILITY PERFORMANCE 2020