On 20 January 2011 DONG Energy A/S announcedthe results of itsconditional invitation to all holders (subject to regulatory offer restrictions as provided for in the Tender Offer Memorandum) of its outstanding EUR 1.1bn Subordinated Capital Securities due 3005 (ISIN: XS0223249003) to tender any or all (subject to the Maximum Acceptance Amount as provided for in the Tender Offer Memorandum) of their existing bonds for repurchase for cash. DONG Energy announcedthat it had accepted for repurchase an aggregate principal amount of existing bonds equal to EUR 500m with a Scaling Factor of 93.44%.

DONG Energy hereby announces the pricing of the invitation to tender hybrid capital bonds for repurchase. The Repurchase Price payable by the Company for each existing bond validly tendered in the Invitation and accepted for repurchase by DONG Energy will be 102.012 per cent of its principal amount, together with Accrued Interest of 3.210 per cent of the principal amount of each such Existing Bonds.