EXMAR report 2025

3.3 SOCIAL 113 communication channels, to ensure that employees can voice their concerns safely and without hesitation. We prioritize understanding employees’ needs and concerns and involve direct managers to facilitate resolution and support when needed. Our employees have access to multiple channels to raise concerns or needs. In general, the Human Resources team is available to address concerns and provide guidance and has installed an open-door policy in which employees are encouraged to directly approach management at any time. Our office employees can address concerns and share ideas with their own management ad hoc or during regular meetings. Seafarers can always directly contact the ship’s Master (Captain), the person who holds the ultimate command and who is the link between ship and shore – or may reach out to a Designated Person Ashore (DPA). In addition, anonymous reporting channels and an external prevention service are available, ensuring confidentiality for sensitive matters and effective follow-up on complaints. Lastly, a formal grievance process is installed for seafarers specifically, working with a grievance team to closely monitor and address reports and, thereby, ensure timely and effective resolutions. Both processes are outlined in detail in our Work Regulations (for office personnel) and Grievance Procedure (for seafarers) and referred to in our Whistleblowing Policy. These documents establish clear, confidential and formal methods to report and address complaints and grievances. They also ensure that all individuals that file a concern or complaint are protected against any form of retaliation, which is key for the functioning of any grievance procedures. Office employees are informed of the grievance mechanism during their onboarding; seafarers receive a copy of the procedures together with their employment agreement. Additionally, through visits on board and crew conferences, we increase awareness of the methods that are available. Any subsequent updates or changes to the documents are also communicated to ensure transparency and awareness. In general, we closely monitor reports and related corrective actions and the timely closing thereof. We also conduct follow-up conversations with the parties involved, to check the effectiveness of our mechanisms. 3.3.2.5 COLLECTIVE BARGAINING AGREEMENTS In the texts above, freedom of association and collective bargaining agreements (CBA) have been mentioned a few times already, for example as a key labor right. Our office personnel are free to enter into association with the union of their choice. For seafarers, EXMAR participates regularly in meetings between the Shipowners Association and unions in Belgium. During such meetings, conditions of employment and social security benefits for seafarers on board of Belgian, but also other flagged vessels, are addressed, with collective agreements as results. Our employees are not represented by a European Works Council, as this is not formally required for EXMAR. However, we remain committed to open dialogue and constructive engagement with our workforce through other communication and feedback mechanisms. Diving into the numbers, 79.08% of our employees are currently covered by a CBA, ensuring that they benefit from negotiated terms on wages, working conditions, benefits and other employment-related matters. This includes offices employees in the Belgian and French offices as well as all seafarers. This percentage is lower than in 2024, where 85.93% was covered. The table below provides a breakdown of CBA coverage and workplace representation across different regions. This data was collected via a dedicated tool for our seafarers – Adonis – and an internal tool for our office employees. The calculation is only done for countries with more than 10% of our total number of employees, hence 140 employees, and has followed the following formula: # employees with CBA coverage or workplace representation in a country or region -------------------------------------------------------- total # employees in that country or region COLLECTIVE BARGAINING COVERAGE SOCIAL DIALOGUE Employees – EEA Employees – non-EEA Workplace representation (EEA only) Coverage rate (%) 2024 2025 2024 2025 2024 2025 0-19 Belgium 20-39 Belgium 40-59 60-79 80-100 Belgium Belgium East Europe Southeast Asia South Asia East Europe Southeast Asia South Asia