EXMAR report 2025

3.2 Environment 90 3.2.1.1.1 CO 2 emission factors The table below demonstrates which emissions factors were used for our calculations. We have used primary data wherever possible, especially regarding major sources of emissions. Where primary data is not available, a consistent and conservative approach to calculation is applied. In the introduction of the sustainability statement, it is described which estimates are used and which changes have been implemented, compared to 2024. In total, around 93% of scope 3 emissions (92.71% in 2024) are calculated based on primary data. Scope 1 Mobile combustion Specific emission factors based on FuelEU Maritime UK GOV GHG reporting factors Stationary combustion Specific emission factors UK GOV GHG reporting factors Fugitive emissions Specific emission factors UK GOV GHG reporting factors Scope 2 Purchased electricity IEA emission factor Specific emission factors based on IEA/AIB Scope 3 Upstream Purchased goods & services Purchased goods: Exiobase emission factors (spend based) + detailed mapping table available IT servers – cloud use: Microsoft Azure CO2 emissions used as benchmark Energy supply Automatically generated by Carbon Alt Delete (based on scope 1 & 2 data input) Transport Upstream Supplier CO 2 : CO 2 data from partners Waste (both vessel and office waste) EcoInvent 3.10 UK GOV GHG reporting factors Intergovernmental Panel on Climate Change (IPCC) emission factors Business travel UK GOV GHG reporting factors Specific emission factors (Exiobase – spend based) Supplier CO 2 : CO 2 data from partners Employee commuting UK GOV GHG reporting factors Upstream leased assets Supplier CO 2 Scope 3 Downstream Downstream leased assets Specific emission factors based on FuelEU Maritime Investments (vessels in JV) Specific emission factors based on FuelEU Maritime UK GOV GHG reporting factors 3.2.1.2 GHG EMISSIONS The result of a comprehensive and data-driven assessment is a full-scale “CO 2 accounting” for EXMAR. By systematically analyzing emissions across all business units, we have established a robust and accurate baseline, providing a clear foundation for tracking, managing and ultimately reducing our carbon footprint. This milestone marks a significant step in our commitment to transparency, sustainability and long-term decarbonization efforts. The table below depicts our GHG emissions. This includes the percentage of GHG emissions from regulated emission trading schemes, as our vessels are required to comply with the EU ETS regulations. Like in 2024, in 2025, this percentage stands at 0%. The time our vessels were off-hire while subject to the scheme is immaterial. Any emissions falling under the trading scheme during on-hire, were covered by the charterers. The table does not include milestones and target years as we do not have any EXMAR specific targets yet. The accuracy and integrity of these actual GHG emissions and related energy data are independently validated by Deloitte and not by any other external body. In addition, EXMAR has no projects related to GHG removals nor any internal carbon pricing mechanisms. We also do not separately trade environmental benefits associated with electricity production (not applicable to EXMAR). Nor do we engage in any contractual instruments to buy or sell electricity that includes specific information about its source (e.g., “100% renewable energy”). Lastly, we do not have any biogenic emissions in our value chain.