EXMAR report 2025

3.2 Environment 91 3.2.1.2.1 (Methodological) changes and Restatement In 2025, we have made certain methodological changes concerning emission factors, the broadening of emission sources for category 3.1 Purchased goods & services, and the emission calculation for joint ventures within category 3.15 Investments. Since the changes have considerable impact on the total number of emissions, a restatement was made for 2024 in which all changes – except for the one for 3.1 Purchased goods & services – were integrated. Thereby, we allow for comparison between 2024 and 2025. The overview below elaborates on each change and demonstrates which emission categories are impacted, explaining the difference between the original and the restated values for 2024. TOPIC CHANGE IMPACT ON RESTATED VALUES Emission factors Custom emission factors have been developed for purchased electricity for Belgium, France and the Netherlands, based on a mix of IEA and AIB data. ■ Gross location-based Scope 2 emissions ■ Gross market-based Scope 2 emissions The emission factor applicable to the entity Exmar SGP Succursale Congo was changed from Democratic Republic of Congo to Republic of Congo. ■ Gross location-based Scope 2 emissions ■ Gross market-based Scope 2 emissions ■ Cat.3.3 Fuel- and energy-related activities Custom emission factors were developed for marine fuel data, based on FuelEU Maritime Regulation. ■ Gross Scope 1 GHG emissions ■ Scope 3 – Cat.3- Fuel and energy related activities ■ Scope 3 – Cat.13 – Downstream leased assets ■ Scope 3 – Cat.15 - Investments Joint Venture emissions In 2024, data to calculate scope 3 emissions included all fuel data for the vessels within joint ventures (on- and off-hire). As described above, we have decided to further align our methodology with the GHG Protocol. Therefore, as of 2025, we only include scopes 1 and 2, and not scope 3, from JVs. Hence, the emissions related to on-hire fuel for the vessels in JVs have been removed. With this change, category 3.15 Investments only includes off-hire fuel data and its related emissions. ■ Scope 3 – Cat.15 - Investments Reviewed reporting scope The entity IMA nv was reviewed as immaterial for the sustainability statement. In 2024, IMA’s emissions were wrongly attributed to scope 1 & scope 2. As IMA concerns rental property, the corresponding emissions belong to scope 3 - cat.13 Downstream leased assets. In addition, within this category, the total number of emissions contributed to IMA nv represents less than 1% of the total emissions. Hence, it is considered as immaterial. ■ Gross Scope 1 GHG emissions ■ Scope 3 – Cat.3- Fuel and energy related activities Cat. 3.1 Purchased goods & services A methodology was developed to include emissions for purchases booked without a Purchase Order (PO) and emissions related to office expenses. Both groups of expenses are considered in the emission calculations on a spend-based basis. ■ Change not included in restatement.