EXMAR report 2025

5.2 Consolidated financial statements 225 Note 24 - Share capital and reserves SHARE CAPITAL AND SHARE PREMIUM NUMBER OF ORDINARY SHARES 2025 2024 Issued shares as per January 1 59,500,000 59,500,000 Capital increase 21,972,210 0 Issued shares as per December 31 - paid in full 81,472,210 59,500,000 The issued shares have no nominal value. The holders of ordinary shares are entitled to dividends and are entitled to one vote per share during the General Meeting of Shareholders of the Company. As authorized by the Extraordinary General Meeting held on May 20, 2025, the Board of Directors of EXMAR may, for a period of five years expiring in June 2030, within certain legal limits and conditions, increase the capital of EXMAR NV by a maximum amount of USD 12.0 million. On August 28, 2025 EXMAR NV completed a capital increase of EUR 160,565,660 EUR (USD 186.1 million) with issue of 21,972,210 new shares, resulting from the contribution of dividend rights to EXMAR’s capital by 97.91% of its shareholders. DIVIDENDS With respect to financial year 2025, the Board of Directors proposes a gross dividend of EUR 0.27 per share to be paid to owners of ordinary shares. This dividend is subject to approval by the General Meeting of Shareholders of May 19, 2026 and has therefore not been included as a liability in EXMAR’s consolidated financial statements prepared under IFRS. The financial year 2025 dividend, based on the number of shares issued, is EUR 21.5 million or a total gross dividend of USD 25.2 million. TREASURY SHARES The reserve for treasury shares comprises the cost of the Company’s shares held by the Group. 2025 2024 Number of treasury shares held as of December 31 1,956,013 1,956,013 Book value of treasury shares held (in thousands USD) 38,160 38,160 Average cost price per share (in EUR) - historical value 14.1507 14.1507 TRANSLATION RESERVE The translation reserve comprises all foreign exchange differences arising from the translation of the financial statements of Group’s subsidiaries which have a functional currency different than the USD reporting currency and the direct recognition of the translation of the net intra group investment in a foreign operation (expressed in Argentinian peso) which is since 2022 recorded in Other comprehensive income. The balance in the translation reserve is mainly impacted by the appreciation or depreciation of the EUR and XAF to the USD. HEDGING RESERVE The hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to the hedged transactions that have not yet occurred. Interest rate swap (IRS) contracts have been closed to cover the exposure on variable interest rates (see Note 29).