Slides
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2026 Interim Results
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Industry Review Business Review Financial Results
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Global Wind Power Market • Global new installations in 2025 was 164.6GW, with onshore wind of 155.3GW and offshore wind totaling 9.3GW. • By region, APAC accounted for 80% of total installations, Europe represented 12% of total, and North America contributed 4%. The top market in 2025 for installations were China, which represented 73% of total. Meanwhile, US ,India and Germany contributed 4%, 4% and 3% of total, respectively. Note: data from GWEC、IRENA. Global Annual New Installation (GW) Wind power has become the most economical renewable energy source（USD/MWh） • During 2010~2025, the LCOE of global onshore wind power declined by 71%, from 114 USD/MWh in 2010 to 33 USD/MWh in 2025. In China, the onshore wind power LCOE has declined by 71%, from 92 USD/MWh in 2010 to 27 USD/MWh in 2025. • Meanwhile, the LCOE of global offshore wind power declined by 63%, from 208 USD/MWh in 2010 to 78 USD/MWh in 2025. In China, the offshore wind power LCOE has declined by 76%, from 200 USD/MWh in 2010 to 49 USD/MWh in 2025. 3/21 73.4 68.9 105.7 109.3 155.320.7 8.9 10.8 8.0 9.3 94.1 77.8 116.5 117.3 164.6 2021 2022 2023 2024 2025 Onshore Offshore 86 86 62 44 115 78 33 88 58 44 408 412 208 114 Bioenergy Geothermal Hydropower Solar PV Concentrated solar power Offshore wind Onshore wind global LCOE in 2010 global LCOE in 2025
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Grid Connection (GW) Wind Power Development in China • In the first half of 2026, China recorded* 38.6GW of new grid-connection, a decrease of 24.8% yoy, of which 37.8GW of onshore wind and 0.8GW of offshore wind. • As of the end of June 2026, China’s cumulative grid-connected wind power capacity totaled 679GW, taking 16.8% in China’s power mix. Meanwhile, thermal power declined to 38.8%. Electricity Production (100 million kWh) • In the first half of 2026, China’s total power consumption was 5,099.9 billion kWh, with 5.3% yoy increase. • Wind power production increased 1.8% yoy to around 598.4 billion kWh, representing a penetration rate* of 11.7%. The utilization rate of wind power is 90.9% • National average wind utilization was 917 hours in 1H26, decreasing by 170 hours yoy. Note: data from National Energy Administration and China Electricity Council. *Wind Penetration rate=wind power production/total power consumption. 4/21 6,867 8,858 9,916 11,300 5,984 2,221 2,225 2,127 1,979 917 8.8% 9.6% 10.1% 10.9% 11.7% 2022 2023 2024 2025 1H26 Wind Power Production (100 million kWh) Utilization hours Penetration Rate 37.6 75.7 79.8 120.0 38.6 365 441 521 640 679 2022 2023 2024 2025 1H26 New Grid-connection Cumulative Grid-connection
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China Public Tender Market • The domestic public tender market totaled 51.8GW in 1H26, representing a 28.0% yoy decrease. • Onshore public tender totaled 48.9GW and offshore totaled 2.9GW. • By region, 72.5% of the tenders originated from the Northern part of China while 27.5% were in the South. • In June 2026, the average bidding price of all WTG suppliers in the market recorded RMB 1,655/kW. Average Monthly Bidding Price (RMB/kW)Public Tender Market (GW) Note: data from public information. 5/21 98.5 86.3 164.1 121.2 51.8 2022 2023 2024 2025 1H26 1,616 1,667 1,622 1,609 1,655
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6/21 Policy Support Note: information from NEA (National Energy Administration), NDRC (National Development and Reform Commission), etc. On March 12th, the “15th Five-Year Plan Outline” stipulated that by 2030, the share of non fossil energy in total energy consumption is targeted to reach 25%. It emphasises coordinated local consumption and external transmission, with the construction of clean energy bases such as wind and photovoltaic projects in the “Three North” regions, integrated hydropower wind solar projects in the southwest, coastal nuclear power, and offshore wind power. It also highlights strengthening the nearby development and utilisation of distributed energy and promoting the deployment of green hydrogen, ammonia and methanol. On May 14th, the NDRC and the NEA issued the “Notice on Matters Relating to the Orderly Promotion of Multi User Green Power Direct Supply Development." It supports new energy generation projects that have not yet commenced grid connection works, as well as projects unable to connect to the grid due to limitations in new energy consumption, to carry out multi user green power direct supply after completing the relevant change procedures. . On June 13th, the NDRC and the NEA issued the “Notice on the 15th Five Year Plan for the Construction of a New Energy System,” setting the goal of initially establishing a clean, low-carbon, safe, and efficient new energy system by 2030. The share of installed wind and solar power capacity will exceed 50%, becoming the dominant sources of power generation, and non fossil energy is expected to contribute 50% of total electricity generation, thereby becoming the principal source of electricity supply. On January 30th, the NDRC and the NEA jointly issued the “Notice on Improving the Capacity-Based Tariff Mechanism on the Generation Side,” proposing to refine the capacity-based tariff mechanisms for new energy storage and other technologies by category to meet the needs of building a new power system and power market framework; to establish an orderly compensation mechanism for reliable capacity on the generation side; and to compensate power generation units for their reliable capacity based on their peak-load capacity according to uniform principles, thereby fairly reflecting the contributions of different units to the power system’s peak-load capacity. On June 9th, the NEA released the “China Electricity Market Development Report for 2025,” which outlined the key priorities for electricity market development in 2026 as follows: (i) more than half of the provinces nationwide will have electricity spot markets formally in operation; (ii) inter provincial and regional electricity trading will become increasingly normalised; (iii) the retail market order will be regulated in an orderly manner, with further improvements to the mechanisms for wholesale to retail price transmission and information disclosure; (iv) the quality and efficiency of medium to long term electricity trading will be enhanced, with fixed time of use pricing policies gradually phased out across regions and medium to long term market prices formed by market participants; (v) the electricity ancillary services market will be accelerated; and (vi) electricity market regulation will continue to be deepened. On June 5th, the NDRC and other departments issued the “Implementation Measures for the Minimum Consumption Targets of Renewable Energy and the Responsibility Weights for Renewable Energy Power Consumption,” which specifies that in key energy- consuming industries, the minimum consumption targets for renewable energy power can be fulfilled through self generation and self consumption of renewable electricity, direct supply of green power, or transactions (including transfers) of green certificates and green electricity. The minimum consumption targets for non power renewable energy can be achieved through renewable energy heating (and cooling), comprehensive utilisation of renewable energy for hydrogen, ammonia and methanol production, as well as non power utilisation of biomass energy. On July 5th, the State Council issued the “Action Plan for Carbon Peaking under the 15th Five Year Plan.” By 2030, the total installed capacity of wind and solar power is targeted to exceed 2.8 billion kW. It calls for enhancing cross province and cross region transmission and complementary capabilities, accelerating the construction of ultra high voltage transmission channels, and adding more than 80 million kW of new west to east power transmission capacity. It further promotes the green transformation of industrial structures, the cultivation of industries such as hydrogen energy and green fuels, supports the development of carbon management services, and advances energy conservation and carbon reduction retrofits in traditional industries. Accelerating the Adjustment and Optimisation of the Energy Structure and Building a New-Type Power System Deepening Market Oriented Energy Reform and Improving the Unified National Electricity Market Steadily Advancing Carbon Peaking and Carbon Neutrality and Deepening the Green and Low Carbon Energy Transition
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Industry Review Business Review Financial Results
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8 Segment Results WTG Manufacturing & Sales R&D, Manufacturing & Sales of Onshore & Offshore WTG & Component Rev. RMB 27,256 mm % of change 24.73% % of Rev. 80.89% Wind Farm Development Wind Farm Development, Transfer & Operation Green Power Sale Comprehensive Solution of Wind Power Load-side Power Service Wind Power Service Other Business Water Treatment Solution & Technology, Integrated Energy & Carbon Management Business and Equity Investment Note: Data in compliance with IFRS. Sale Capacity 12,364.38 MW % of change 16.19% Post Warranty Projects Under Operation Capacity 60.36GW % of change 31.3% Water Treatment Total Operational Scale 2,531,300 tons/day Global Cumulative Grid-connected Attributable Installed Capacity 10,390MW newly added 541 MW Rev. RMB 3,149 mm % of change -0.72% % of Rev. 9.34% Rev. RMB 2,728 mm % of change -5.81% % of Rev. 8.10% Rev. RMB 562 mm % of change -2.02% % of Rev. 1.67%
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Sale Capacity （MW） During the first half of 2026 the Company′s external sale capacity totaled 12,364MW, with an increase of 16.2% yoy, among which: • The sale capacity of WTG below 6MW totaled 1,330MW, taking 11% of total sale capacity • The sale capacity of WTG 6MW(inclusive)-10MW totaled 8,147MW, taking 66% of total sale capacity • The sale capacity of WTG 10MW and above totaled 2,887 MW， taking 23% of total sale capacity Note: Data from Company filess, numbers may not sum to total due to rounding. 9/21 9,120 7,626 6,271 3,126 1,970 1,330 4,751 5,975 7,913 18,818 7,267 8,147 172 1,869 4,682 1,405 2,887 13,871 13,773 16,053 26,626 10,641 12,364 2022 2023 2024 2025 1H25 1H26 Below 6MW 6MW (incl.) ~10MW 10MW and Above
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• As of June 30, 2026, Company’s total order backlog was 54.1GW. • External order backlog* totaled 51.0GW, including 10.4GW of successful bid and 40.6GW of signed contract. External Order Mix（MW，%）Order Backlog (MW) Wind Turbine Order Backlog • As of June 30, 2026, among the company's external orders, the capacity of units below 6MW is 5,223 MW, accounting for 10%. The capacity of 6MW (inclusive) -10MW units is 35,812 MW, accounting for 70%. The capacity of units above 10MW is 9,924 MW, accounting for 20%. Note: data from Company files. *External order backlog = successful bid + signed contract. 10/21 June 30, 2026 41,396 38,861 39,480 41,193 40,602 10,416 11,013 11,012 9,507 10,357 3,023 2,587 3,241 3,234 3,183 54,835 52,461 53,733 53,934 54,142 2025/6/30 2025/9/30 2025/12/31 2026/3/31 2026/6/30 Signed Contract Successful Bid Internal Order 5,223 , 10% 35,812 , 70% 9,924 , 20% <6MW 6MW (incl.) - 10MW ≥10MV
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Global Regional Centers Global Business Expansion • Currently, the Company’s business spreads across 49 countries in six continents worldwide. As of June 30, 2026, the cumulativ e installation in overseas market is 14,853.20MW, among which the installation in Asia (excluding China) has exceeded 4GW , the installation in South America has exceeded 3GW, the installation in Africa and Australia has exceeded 2GW, and the installation in Europe and North America has exceeded 1GW, • As of June 30, 2026, the order backlog in overseas market totaled 9,489.02MW. Global Installations by country 46 8 Global R&D Centers 7Asia (ex.China) Cumulative installation 4,404.03MW Australia Cumulative installation 2,103.48MW North America Cumulative installation 1,116.20MW South America Cumulative installation 3,379.1MW Africa Cumulative installation 2,615.7MW Europe Cumulative installation 1,234.69MW Adapt to earthquake areas Strong earthquake of magnitude 8.0 Ecuador Adapt to high temperature areas 45℃ Pakistan Note: data from Company files. June 30, 2026 11/21
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2,000 1,003 90 Northwestern North China Southern 32% 65% 3% Cumulative Grid- connected Wind 10,390MW Wind Power Generation • Company added 541MW of attributable, grid-connected wind power capacity at home and abroad in 1H26, and a total of 101.75MW* were sold at home and abroad. • As of the end of June 2026, Company’s attributable, grid-connected wind power projects totaled 10,390MW, of which 39% domiciled in Northwestern region, 23% domiciled in East China region, 18% in North China, 8% in Southern region, 8% in Northeastern region, and 4% in overseas market. • As of the end of June 2026, Company’s attributable, under-construction wind capacity at home totaled 3,093MW, of which 65% domiciled in Northwestern region, 32% in North China, and 3% in Southern region. Grid-connection by RegionGrid-connection (MW) Note: data from Company files. * Including sale of power station products. Projects invested by Goldwind yet unconstructed are not included in this slide. Under-construction by Region (MW) June 30, 2026 12/21 Cumulative Under- construction Wind 3,093MW 1,745 1,793 1,980 2,497 541 7,078 7,289 8,043 9,951 10,390 2022 2023 2024 2025 1H26 Annual New Installation Cumulative Installation Northwestern, 4,065 , 39% North China, 1,884 , 18% East China, 2,400 , 23% Southern, 765 , 8% Northeastern, 844 , 8% Overseas, 433 , 4%
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• In the first half of 2026, Company’s self-run wind farms recorded 1,106 hour utilization, 189 hours higher than the national average. Wind Power Service (MW)National & Company Utilization (h) Wind Farm Operation & Wind Power Service • Attributing to Company’s installed fleet and O&M experience, wind power service business grew steadily. • As of the end of June 2026, Company’s under-operation capacity totaled 60.36GW, up 31.3 % yoy. Note: data from Company files and China Electricity Council. 13/21 2,221 2,225 2,127 1,979 917 2,456 2,441 2,340 2,290 1,106 2022 2023 2024 2025 1H26 National Average Company Average 27,989 30,836 39,978 50,315 60,357 2022 2023 2024 2025 1H26
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Industry Review Business Review Financial Results
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• Revenue for the first half of 2026 totaled RMB33,739 million • The Comprehensive Profit Margin for the first half of 2026 was 16.76% • Net Profit Attributable to Owners of the Company for the first half of 2026 was RMB1,855 million • Weighted Average Return on Equity for the first half of 2026 was 4.51% 9,472 19,065 19,610 24,876 15,485 18,254 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Revenue（Million RMB） Profitability Index 28,537 33,739 Comprehensive Profit Margin（%） 21.78 12.16 13.00 13.7813.78 16.76 16.75 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 15.35 16.76 568 920 1,096 190 907 948 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Net Profit Attributable to Owners of the Company（Million RMB） Weighted Average Return on Equity（%） 1,488 1,855 3.85 4.51 1.48 2.37 2.82 0.41 2.23 2.28 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Notes: Data in compliance with PRC GAAP. 15/21
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Segment Results R&D, Manufacturing & Sales of Onshore & Offshore WTG& Component Revenue (Million RMB) 27,256 1H26 1H25 21,852 Profit Margin 11.4%（1H25: 7.9%) WTG Manufacturing and Sales Note: Data in compliance with IFRS Wind Farm Development, Transfer & Operation, Green Power Sale Revenue (Million RMB) 3,149 1H26 1H25 3,172 Wind Farm Development Profit Margin 54.4%（1H25：57.5%) 562 1H26 1H25 573 Water Treatment Solution & Technology, Integrated Energy & Carbon Management Business and Equity Investment Revenue (Million RMB) Other Business Profit Margin 28.2%（1H25：26.9%) Comprehensive Solution of Wind Power Load-side Power Service 2,728 1H26 1H25 2,896 Wind Power Service Profit Margin 21.8%（1H25：22.5%) Revenue (Million RMB) 16/21
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174 173 175 158 150 160 Operation Index Days of Inventory and Contract Assets（Annualized） Days of Trade Receivables（Annualized） 20% 1Q25 21% 2Q25 21% 3Q25 19% 4Q25 20% 1Q26 20% 2Q26 • As at the end of June 2026, the Company′s trade receivables totaled RMB34,898 million, taking 20% of total assets • During the first half of 2026, the Days of Trade Receivables was 160 days 132 130 138 97 95 111 11% 1Q25 12% 2Q25 13% 3Q25 4Q25 10% 1Q26 12% 2Q26 10% • As at the end of June 2026, the Company′s inventory and contract assets totaled RMB20,357 million, taking 12% of total assets • During the first half of 2026, the Days of Inventory and Contract Assets was 111 daysNote: Data in compliance with PRC GAAP. Trade Receivables/Total Assets Days of Trade Receivables Inventory and Contract Assets/Total Assets Days of Inventory and Contract Assets 17/21
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Solvency Position • As at the end of June 2026, the Company′s interest-bearing debt totaled RMB54,071 million, taking 44% of total liabilities • As at the end of June 2026, the Company′s asset- liability ratio was 71.81% Asset-Liability Ratio（%）Interest-bearing Debt (Million RMB) 50,255 48,806 49,809 48,972 50,846 54,071 43% 1Q25 41% 2Q25 41% 3Q25 41% 4Q25 43% 1Q26 44% 2Q26 Note: Data in compliance with PRC GAAP. Interest-bearing Debt/Total Liabilities Interest-bearing Debt 73.05% 1Q25 73.08% 2Q25 73.11% 3Q25 71.66% 4Q25 71.10%71.10% 1Q26 71.81% 2Q26 159,012 161,553 167,307 166,495 168,032 170,909 Asset-Liability Ratio LiabilityEquity 18/21
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Cash Flows Cash/Total Assets（Million RMB） • As at the end of June 2026, the ratio of Cash to Total Assets was 6.61% Cash/Total Assets Cash 13,919 9,586 9,451 10,323 11,295 11,296 8.75% 1Q25 5.93% 2Q25 5.65% 3Q25 6.20% 4Q25 6.72% 1Q26 6.61% 2Q26 Net Operating Cash Flows（Million RMB） -1,636 -1,313 2,316 4,176 -1,547 -31 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Net Operating Cash Flows • During the first half of 2026, Net Operating Cash Flows totaled RMB-1,578 million Note: Data in compliance with PRC GAAP -2,949 -1,578 19/21
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DISCLAIMER This presentation and the information contained herein does not constitute or take the form of any recommendation for the purchase or sale of any securities of Goldwind Science&Technology Co. Ltd (“the Company”), and does not constitute an offer to purchase or sell any securities of the Company, nor does it constitute the foundation or basis of any contract or commitment. No representation or warranty, expressor implied, is made as to, and no reliance should be place on, the fairness, accuracy, completeness or correctness of the information, or opinions contained herein. Neither the Company nor any of the Company’s advisors or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements with respect to the financial condition, results of operations andbusiness of the Company, the wind industry in the PRC and certain of the plans and objectives of the management of the Company. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of performance of the Company to be materially different from any future results or performance expressed or implied by such forward-looking statements. Such forward-looking statements were based on assumptions regarding the Company’s present and future business strategies and the political and economic environment in which the Company and its subsidiaries operate currently and will operate in the future. Reliance should not be placed onthese forward-looking statements, which reflect the view of the Company’s management as of the date of this presentation only.
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Welcome to follow“金风投资者之家”Wechat official account Scan the QR code as follow or search “GoldwindIR” Reaching out Goldwind IR team： +86-10-6751-1996 goldwind@goldwind.com Company contacts: Ms. Ma Jinru Vice President, Secretary to the board and company secretary Ms. Yu Yang yuyang53704@goldwind.com Ms. Liu Qian liuqian76688@goldwind.com Goldwind Science&Technology Co.,Ltd SZEx Stock Code: 002202 HKEx Stock Code: 02208