EXMAR report 2025

3.2 Environment 95 2024 2025 Net revenue from activities in high climate impact sectors 332,404,954.60 234,459,897.68 Net revenue (other) 16,506,495.35 13,680,485.77 Total net revenue (financial statements) 348,911,449.95 248,140,383.45 Returning to the formula mentioned above, we can calculate the energy intensity. As mentioned above, the restatement for 2024 also impacts energy intensity. Hence, a restated intensity value for 2024 was calculated. 2024 ORIGINAL 2024 RESTATED 2025 Total energy consumption from activities in high climate impact sectors per net revenue from activities in high climate impact sectors (MWh/monetary unit) 0.03 0.02 0.02 3.2.3 Resilience analysis EXMAR’s climate resilience analysis assesses its ability to withstand, adapt to and recover from climate-related risks, such as extreme weather events, regulatory changes, and resource scarcity. It evaluates vulnerabilities, identifies mitigation strategies and ensures long-term sustainability in a changing climate. Our analysis applies to the same scope as our double materiality assessment and follows one scenario: the IMO trajectory. This scenario aims to limit global temperature rise to well below 2°C above pre-industrial levels and to pursue efforts to limit the increase to 1.5°C. Related thereto, the main regulations that apply to the resilience analysis are:  MARPOL: Maritime Convention for the Prevention of Pollution from Ships  Energy Efficiency Design Index (EEDI)  Energy Efficiency Existing Ship index (EEXI)  Carbon Intensity Indicator (CII)  Data Collection System (DCS)  EU Emission Trading Scheme (ETS)  Monitoring, Reporting and Verifying (MRV) GHG emissions  Fuel EU Maritime Details on these regulations are provided in the introduction of our sustainability statement (see 3.1 Sustainability at EXMAR). A first look into resilience analysis was made in the second half of 2024. Our initial plan to enhance, deepen and draft this analysis throughout 2025 is delayed. We intend to take this on in 2026. Key additions in the coming years may include the use of multiple scenarios and time horizons, including long- term projections, that allow for the establishment of a clear connection between the analysis, our business strategy and our overarching sustainability trajectory, ensuring adaptability to various climate change challenges. The assessment may also incorporate macroeconomic trends, energy consumption patterns, energy mix evolution, and assumptions regarding technological advancements. We have the ambition to develop a resilience analysis that provides critical insights into the extent to which our assets and business activities may be exposed to potential risks and that accounts for certain uncertainties. 3.2.3.1 OUTCOME Through our resilience analysis, we have identified one material climate-related transition risk on the medium term: energy transition moving away from oil & gas. The energy transition is proceeding towards increased electrification, deployment of renewable energy, distribution and storage infrastructure, and the adoption of emerging low-carbon technologies (e.g., biogas, low carbon hydrogen & ammonia). This leads to investments in vessels sailing on alternative fuels (LPG or ammonia) or vessels and infrastructure units with the ability to use shore power. We have not identified any climate-related physical risks where additional measures should be taken. EXMAR does thorough safety engineering studies while constructing vessels (ships or infrastructure units) to ensure these are designed to withstand bad weather, combatting effects of climate change at sea. In general, EXMAR is diversifying its business portfolio to adapt to the challenges of climate change. The next part on transition planning provides more details thereto. EXMAR is active in high climate impact sectors (mainly oil & gas), deriving 94.49% of its revenues from activities therein (95.3% in 2024), as demonstrated in the table below. As high climate impact industries are closely scrutinized for their environmental footprint, the net revenue figure serves as a key indicator of our exposure to carbon-intensive activities. The remaining 5.51% comes from staffing, financial and insurance activities (activities of holding companies) and other supporting services.