EXMAR report 2025

3.2 Environment 104 Considering the DNSH criteria, we can state that EXMAR complies with those of water, circular economy and pollution prevention. On the other hand, we do not comply with the DNSH criteria for climate change adaptation and must further investigate those for biodiversity. This result is due to the current lack of a robust climate risk and vulnerability assessment. In addition, and more specifically, our state-of-the-art vessels mentioned in the part above, are not Taxonomy aligned as they do not comply with the DNSH criteria. In conclusion, considering the criteria above and given the current state of technology, the shipping industry in general, and EXMAR specifically, is up for a huge challenge and will continue to struggle to show efforts made towards a more sustainable world. Our ambition, however, remains and, as one of the leading experts in the maritime transport of ammonia, we continue to actively invest in ocean-going vessels that are propelled by ammonia as fuel. Note that ammonia does not have any CO 2 emissions, but that pilot fuel is needed to run the engines. At EXMAR, we are preparing for a scenario whereby (green) ammonia gets traction as a dominant energy carrier, following the switch to hydrogen - as our vessels are fully ready to transport such green ammonia. 3.2.6.3 RESULTS OF THE TAXONOMY SCREENING The Taxonomy is supplemented by a Disclosure Delegated Act (06/07/2021), specifying the content and presentation of Taxonomy-related information which a company in scope of CSRD must disclose. Hence, the information provided below is based on the KPI disclosures that are outlined in this regulation:  The proportion of turnover derived from products or services that are associated with environmentally sustainable activities  The proportion of capital expenditure (CapEx)  The proportion of operating expenditure (OpEx) related to assets or processes thar are associated with environmentally sustainable activities Note that EXMAR’s financial statements are in accordance with International Financial Reporting Standards (IFRS), adopted by the European Union. The calculated KPIs below, on the other hand, are based on the EU Taxonomy Regulation definition. We ensure no double counting has occurred and we provide additional information for clarity on what is included or excluded from the KPIs in comparison with the IFRS financial information. The parts below contain information per KPI. More details are available in Appendix 3: EU Taxonomy Templates. 3.2.6.3.1 KPI 1 – Turnover SHIPPING INFRASTRUCTURE SERVICES GROUP Total k$ (2025) 50,573 133,366 64,202 248,140 Total k$ (2024) 55,508 171,329 122,074 348,911 Total k$ (2023) 52,553 371,226 63,539 487,318 Eligible k$ (2025) 50,573 - 12,678 63,251 Eligible k$ (2024) 55,508 - 95,952 151,460 Eligible k$ (2023) 52,553 - 18,521 71,075 Eligible % (2025) 100% 0% 20% 25% Eligible % (2024) 100% 0% 79% 43% The eligible turnover above is analyzed on an activity- based assessment per subsidiary, mapping the turnover to the relevant Taxonomy activities. In 2025, there is a significant decrease in turnover, compared to 2024. This is mainly driven by supporting services, with lower total revenue due to the sale of Bexco NV and lower ship management revenue overall. Details of the turnover can be found in Note 4 of the financial statements. This includes both IFRS 15 Revenue from contracts with customers and IFRS 16 Leases related revenue.