EXMAR report 2025

1.1 Financial overview 10 1.1 1.1.1 Consolidated key figures International Financial Reporting Standards (IFRS) (1) Management reporting based on proportionate consolidation (2) CONSOLIDATED RESULTS (IN MILLIONS OF USD) DECEMBER 31, 2025 DECEMBER 31, 2024 DECEMBER 31, 2025 DECEMBER 31, 2024 Revenue 248.1 348.9 343.0 434.9 EBITDA 101.6 204.7 178.2 273.8 Adjusted EBITDA 101.6 106.1 178.2 175.2 Depreciations and amortisations -26.6 -34.4 -62.7 -67.3 Operating result (EBIT) 75.0 170.2 115.5 206.4 Net finance result -17.0 -3.1 -32.2 -17.0 Share of result of equity accounted investees (net of income tax) 24.5 24.9 -0.4 2.7 Result before income tax 82.4 192.1 82.9 192.2 Income tax expense -8.1 -11.1 -8.5 -11.2 Result for the period 74.3 181.0 74.3 181.0 Of which Group share 74.3 181.0 74.3 181.0 INFORMATION PER SHARE (IN USD PER SHARE) Weighted average number of shares of the period 64,868,057 57,543,987 64,868,057 57,543,987 EBITDA 1.57 3.56 2.75 4.76 Adjusted EBITDA 1.57 1.84 2.75 3.04 Operating result (EBIT) 1.16 2.96 1.78 3.59 Result for the period 1.15 3.15 1.15 3.15 INFORMATION PER SHARE (IN EUR PER SHARE) Exchange rate 1.1200 1.0862 1.1200 1.0862 EBITDA 1.40 3.27 2.45 4.38 Adjusted EBITDA 1.40 1.70 2.45 2.80 Operating result (EBIT) 1.03 2.72 1.59 3.90 Result for the period 1.02 2.90 1.02 2.90 (1) The figures in these columns have been prepared in accordance with IFRS as adopted by the EU (i.e. joint ventures accounted for at equity method). (2) The figures in these columns reflect management presentation and include joint ventures based on the proportionate consolidation method instead of the equity method. A reconciliation between the amounts applying the proportionate method and the equity method is included in Note 3 Reconciliation segment reporting of the Financial Report per December 31, 2025. FINANCIAL OVERVIEW