EXMAR report 2025

5.2 Consolidated financial statements 223 Note 19 - Tax assets and liabilities CURRENT TAX ASSETS AND LIABILITIES DECEMBER 31 (IN THOUSANDS OF USD) 2025 2024 Current tax assets 8,103 4,184 Current tax liabilities 3,316 6,441 DEFERRED TAX ASSETS AND LIABILITIES DECEMBER 31, 2025 DECEMBER 31, 2024 (IN THOUSANDS OF USD) ASSETS LIABILITIES ASSETS LIABILITIES Other tangible assets 1,458 0 4,212 0 Employee benefits 0 0 131 0 Tax losses / timing differences 4,286 0 423 0 Deferred tax assets / liabilities  5,744 0 4,766 0 Set off of tax assets/ liabilities 0 0 0 0 Tax assets not recognised -3,186 0 -131 0 Deferred tax assets and liabilities recognized 2,558 0 4,635 0 Deductible temporary differences 0 131 Unused tax losses and investment tax credits 73,694 57,818 Deferred tax assets/ liabilities not recognised 73,694 0 57,949 0 The deferred tax assets for the years 2025 and 2024 are mainly driven by the recognition at Group level of the deferred tax balances in Exmar Offshore Cy due to timing differences. Our equity accounted investees have limited temporary differences. Deferred tax assets on tax losses at our joint ventures and equity accounted investees amounted to USD 0.5 million end 2025 (2024: USD 0.7 million) for their share, but have not been recognized. Amounts have not been included in the above overview. Tax assets are not recognised if it is not probable that future taxable profits will be available against which the group can use the benefits therefrom or because the future taxable profits cannot be measured on a reliable basis. The majority of the tax losses and investment tax credits do not expire in time. Note 20 - Other non-current financial assets (IN THOUSANDS OF USD) DECEMBER 31, 2025 DECEMBER 31, 2024 Ocean Yield AS 4,000 0 DOF Group AS 1,000 0 International Seaways 2,500 0 HMH Holding 1,800 0 Other 794 260 Other non-current financial assets 10,094 260 The other non-current financial assets include unsecured bonds acquired in 2025.