EXMAR report 2025

5.2 Consolidated financial statements 220 (IN THOUSANDS OF USD)  JOINT VENTURES   ASSOCIATES  JV partner Seapeak MOL ASS Ownership percentage 50% 50% 50% 33% 45% 40% ENTITY TOTAL SEAPEAK MONTE- RIGGIONI ESTRELA LTD ECOS MARPOS TOTAL WARIBOKO COMPANIES TOTAL Non current assets 861,865 0 6,037 330 419 3,464 872,114 Current assets 72,348 27 5,680 904 1,695 8,868 89,523 of which cash and cash equivalents 50,729 0 3,615 1,304 1,232 1,499 58,380 Non current liabilities 749,392 0 0 -6 0 10,810 760,196 of which bank borrowings 392,508 0 0 0 0 0 392,508 of which finance leases 37,268 0 0 -6 0 0 37,262 of which other borrowings 0 0 0 0 0 4,715 4,715 Current liabilities 143,884 0 1,476 875 536 17,033 163,803 of which bank borrowings 36,582 0 0 0 0 0 36,582 of which finance leases 41,217 0 0 6 0 0 41,222 of which other borrowings 0 0 0 0 0 1,957 1,957 Revenue 195,808 0 9,125 756 2,602 0 208,291 Depreciation and amortization -70,374 0 -1,751 -14 -84 0 -72,223 Impairment (reversal) -192 0 0 0 0 -3,746 -3,938 Interest income 5,399 8 0 0 0 0 5,407 Interest expense -34,814 0 0 -3 -4 0 -34,821 Income tax expense -840 0 0 -122 -171 -651 -1,784 Profit or (loss) from continuing operations 49,941 -528 469 93 497 961 51,434 Other comprehensive income -2,923 0 0 0 0 0 -2,923 Total comprehensive income 47,018 -528 469 93 497 961 48,511 0 Net assets (100%) 347,644 27 10,241 366 1,579 -9,416 350,440 EXMAR share in net assets 173,822 14 5,120 122 710 -3,767 176,022 Share in net assets of equity accounted investees on January 1, 2025 150,313 0 6,330 14 561 -3,732 153,486 Netting negative equity and impairment on January 1, 2025 0 0 0 0 0 6,203 6,203 Share in net assets of equity accounted investees on January 1, 2025 150,313 0 6,330 14 561 2,471 159,689 Share in total comprehensive income 23,504 -264 235 31 224 -408 23,321 Dividends 0 0 -1,444 0 -151 0 -1,595 Foreign currency translation differences 23 0 0 0 77 374 474 Netting negative equity and impairment in the year 2025 0 264 0 0 -275 -11 Share in net assets of equity accounted investees on December 31, 2025, after netting negative equity 173,840 0 5,120 45 710 2,162 181,877