EXMAR report 2025

3.1 Sustainability at EXMAR 68 3.1.3 Double Materiality Assessment (DMA) Throughout the years, materiality assessments have helped us to keep pulse of topics that are relevant to our business and stakeholders. In 2024, a first CSRD- aligned Double Materiality Assessment (DMA) was executed. The results of 2024 are also applicable to 2025 and define the disclosures included in this report. There have been no modifications nor renewals to the DMA. 3.1.3.1 THE DOUBLE MATERIALITY PROCESS The DMA is based on a holistic approach in which our value chain provides an overarching view of the operating ecosystem. Thereby, EXMAR does not only consider its own impacts but also analyses the actual and potential risks and opportunities associated with the value chain and the (in)direct dependencies that influence our strategic, operational or financial performance. Hence, the first step in the double materiality process was the definition of this value chain, considering several factors, such as our level of influence and buying power and our technical readiness to collect value chain information. Subsequently, the value chain formed the basis for:  step two: EXMAR’s stakeholder identification,  step three: the determination of impacts, risks and opportunities, and  step four: the development and application of a scoring model. In collaboration with a multidisciplinary ESG taskforce (More information in 3.1.4 - Data Collection & Chapter 3.4 - Governance), the Head of ESG has gathered a variety of inputs (e.g., scientific literature, sustainability reporting from peers and information from industry member organizations and classification societies) and synthesized them into a comprehensive and overarching DMA outcome, trying to ensure a well- rounded and strategic approach. A refined proposal was presented to the Executive Committee (ExCo) for review and final decision-making. 3.1.3.1.1 Step 1: Defining our value chain The value chain covers our upstream and downstream business context and includes both direct and indirect business relationships. Thereby, it provides a comprehensive perspective on EXMAR’s operating ecosystem. By mapping and defining our value chain, we enable a broad understanding of the interdependencies, risks and opportunities related to sustainability impacts which, in turn, lead to a more strategic alignment. The value chain provided the basis for stakeholder identification and served as foundation for our DMA in which the stakeholders’ relevant material topics are considered. The following critical factors were analyzed when defining our value chain:  Scale and complexity: EXMAR’s size and resource capacity relative to the breadth and complexity of the activities in its value chains.  Influence and leverage: EXMAR’s ability to influence actors in the value chain, particularly in driving sustainability outcomes, leveraging its buying power, and cultivating collaboration.  Technical preparedness: The readiness of internal systems and processes to effectively collect, manage and report value chain data, ensuring alignment with sustainability reporting standards.  Accessibility and data sharing: Limitations in existing tools and frameworks to access and exchange critical information across the value chain.  Proximity to the company: The relative size, resources, technical sophistication, and geographic or operational proximity of value chain actors, impacting data flow and sustainability engagement. UPSTREAM MIDSTREAM DOWNSTREAM Energy Raw material suppliers Shipyard: construction Supplier/Procurement Engineering Shipping Land-based facility Infrastructure/ Transformation Vessel Energy/Petrochemicals/ Agriculture Port Shipyard: repair/recycling