EXMAR report 2025

3.1 Sustainability at EXMAR 86 It is our ambition to limit the estimates as much as possible. Therefore, we are investigating comprehensive and accurate data collection methods across our value chain, including the possibility to obtain actual data from building lease owners (scope 1 & 2) and major suppliers (scope 3), to move away from spend-based calculations. In 2025, some methodological changes have been implemented already, compared to 2024:  For scope 1 and scope 2 data (fuel usage & electricity consumption) for our headquarters (Antwerp office), we are now using the data provided by MCA (facility). They provide us with the amounts invoiced to all entities that rent office spaces in their buildings, including the estimates on m 2 (based on the lease agreement). This is different from 2024, where we estimated the m 2 ourselves.  We include the metrics ‘refrigerant use of owned vessels’ and ‘refrigerant usage of JV vessels’ in, respectively, scope 1 and 3. In 2024 this was estimated by the following calculation: the number of refrigerants*CO 2 equivalent. As of 2025, this is based on actual data, coming from ship reports that contain the quantity of refrigerants that the crew on the vessels has used.  The emission calculation for the purchased goods and services was expanded in two ways: ■  The category of OPEX2 is now included. This concerns all purchases related to vessels without a Purchase Order (PO). As for the other purchases, a spend-based approach applies. ■  The category of office expenses is now included. This concerns purchased goods and services for our offices. A spend-based approach applies. 3.1.4.2 RISK MANAGEMENT AND CONTROLS OVER SUSTAINABILITY REPORTING The internal control system for our sustainability reporting process covers the entire scope and is tailored to EXMAR’s objectives, sizes and operational complexity. It is developed and implemented under the guidance of management, ensuring efficient operation, optimizing resource utilization and supporting sound decision-making. Even with the efforts to streamline the data collection process, the risks related to data coming from EXMAR’s value chain are still considered as the main risks for ESG reporting. With an increased reporting scope since 2024 - involving much more stakeholders and revealing the great complexity of our business - data accuracy and completeness are the biggest challenges we face. These risks were identified in a ‘reporting risk assessment’, within our more extensive risk management framework, executed by Key Risk Officers: key personnel responsible for risk assessment and follow-up in specific domains. Our risk assessment includes reporting quality, alignment with stakeholder expectations and regulatory requirements and has led to the implementation of a wider range of internal controls, systematically being integrated into EXMAR’s internal functions and processes. This approach involves various departments, including technical, finance and operations, as well as specialized functions such as HR, crewing and HSEQ. If any of the internal controls lead to significant findings, this is reported by the Key Risk Officers and, if required, to the Audit & Risk Committee (ARC) on a quarterly basis. Chapter 3.4 – Governance provides additional information on our risk management.