Cadeler (NYSE: CDLR) discloses BW Altor boosting ownership to 27.36% of shares

Rhea-AI Filing Summary

Cadeler A/S reports a significant increase in ownership by major shareholder BW Altor Pte. Ltd. following a large share purchase. On 27 November 2025, BW Altor bought 17,510,330 Cadeler shares, bringing its beneficial ownership to 96,005,852 shares with a nominal value of DKK 1 each. This represents 27.36% of Cadeler’s total share capital and voting rights, up from a previously reported level of 20.41%.

BW Altor is a Singapore-registered company ultimately controlled by Andreas Sohmen-PaoCDLR and the Oslo Stock Exchange under ticker CADLR.

Insights

Equity ownership and governance analyst

BW Altor increases its Cadeler stake to over a quarter of voting rights.

The announcement shows BW Altor Pte. Ltd. raising its beneficial ownership in Cadeler to 27.36% of share capital and voting rights after purchasing 17,510,330 shares on 27 November 2025. This is a notable step up from the previous disclosed level of 20.41%, indicating a larger concentrated shareholder position.

A shareholder with more than a quarter of voting rights can have greater influence on key corporate decisions, depending on the broader ownership structure and local company law thresholds. The filing also clarifies that BW Altor is ultimately controlled by Andreas Sohmen-Pao, providing transparency on who stands behind this stake.

The development relates to ownership structure rather than operations or earnings, so its practical impact depends on how BW Altor chooses to exercise its voting power at future shareholder meetings and in governance matters.

12/01/2025 - 09:58 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of December 2025

Commission File Number: 001-41889

CADELER A/S

(Translation of registrant's name into English)

Kalvebod Brygge 43

DK-1560 Copenhagen V, Denmark

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

Stock Exchange Announcement

CADELER A/S: NOTIFICATION OF MAJOR SHAREHOLDING

Copenhagen, December 1, 2025: Cadeler A/S (“Cadeler”) hereby announces that it has received the following major shareholder notification pursuant to Section 38 of the Danish Capital Markets Act and Section 55 of the Danish Companies Act, respectively, regarding direct and indirect holdings of shares in Cadeler.

BW Altor Pte. Ltd.’s direct shareholding in Cadeler has changed in connection with BW Altor Pte. Ltd.’s purchase of 17,510,330 shares in Cadeler on 27 November 2025.

As a consequence thereof, BW Altor held beneficial ownership, as of 27 November 2025, of 96,005,852 Cadeler shares of a nominal value of DKK 1 each, corresponding to 27.36% (latest major shareholder notification was made at 20.41%) of Cadeler's total share capital and voting rights.

BW Altor Pte. Ltd. is a limited liability company organised under the laws of The Republic of Singapore under the registration number 202035228G with its registered address at 10 Pasir Panjang Road #18-01, Mapletree Business City, Singapore 117438. BW Altor Pte. Ltd. is ultimately controlled by Andreas Sohmen-Pao.

For further information, please contact:

Mikkel Gleerup

CEO, Cadeler

+45 3246 3102

mikkel.gleerup@cadeler.com

Alexander Simmonds

EVP & CLO, Cadeler

+44 7376 174172

alexander.simmonds@cadeler.com

About Cadeler A/S:

Cadeler is a global leader in offshore wind installation, operations, and maintenance services. Cadeler is a pure play company, operating solely in the offshore wind industry with an uncompromising focus on safety and the environment. Cadeler owns and operates the industry’s largest fleet of jack-up offshore wind installation vessels and has for more than 10 years been a key supplier in the development of offshore wind energy to power millions of households. Cadeler’s fleet, expertise and capacity to handle the largest and most complex next-generation offshore wind installation projects positions the company to deliver exceptional services to the industry. Cadeler is committed to being at the forefront of sustainable wind farm installation and to enabling the global energy transition towards a future built on renewable energy. Cadeler is listed on the New York Stock Exchange (ticker: CDLR) and the Oslo Stock Exchange (ticker: CADLR).

For more information, please visit www.cadeler.com

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: December 1, 2025	CADELER A/S
	(Registrant)
	By:	/s/ Mikkel Gleerup
	Name:	Mikkel Gleerup
	Title:	Chief Executive Officer

FAQ

What change in major shareholding did Cadeler (CDLR) announce?

Cadeler announced that BW Altor Pte. Ltd. increased its beneficial ownership to 96,005,852 shares, representing 27.36% of Cadeler’s total share capital and voting rights.

How many Cadeler shares did BW Altor purchase to reach 27.36% ownership?

On 27 November 2025, BW Altor purchased 17,510,330 Cadeler shares, which raised its stake to 27.36% of the company’s share capital and voting rights.

What was BW Altor’s previous reported ownership percentage in Cadeler A/S?

BW Altor’s previous major shareholder notification was at 20.41% of Cadeler’s total share capital and voting rights before the latest purchase.

Who ultimately controls BW Altor Pte. Ltd., the major shareholder in Cadeler?

BW Altor Pte. Ltd. is ultimately controlled by Andreas Sohmen-Pao, as stated in the announcement.

On which exchanges is Cadeler A/S listed and under what tickers?

Cadeler A/S is listed on the New York Stock Exchange under ticker CDLR and on the Oslo Stock Exchange under ticker CADLR.

What does Cadeler A/S do in the offshore wind industry?

Cadeler is a pure play offshore wind company providing installation, operations, and maintenance services, operating one of the industry’s largest fleets of jack-up offshore wind installation vessels.