EXMAR report 2025

3.4 GOVERNANCE 127 3.4.5 Incentivizing sustainability EXMAR’s ESG strategy focuses on innovation, pushing boundaries, safety and our own workforce. Within that context, we have described multiple actions, targets and ambitions throughout this sustainability report. However, implementing these actions and realizing our ambitions, as well as reporting properly and in a compliant manner on our sustainability approach, remains challenging. Despite our efforts, for some colleagues, sustainability remains rather abstract and distant from daily tasks. One way to make sustainability more tangible and to encourage employees to get (more) involved, could be the integration of sustainability-related KPIs in our remuneration policy. This policy applies to our employees and top management and aims to attract, motivate, reward and retain qualified professionals. As said, sustainability-related KPIs are currently not included. Hence, no internal ESG-related incentive schemes apply, and, by consequence, there is no variable remuneration dependent on sustainability-related targets and/or impacts. This will be reconsidered in 2026, connected to an evaluation of the sustainability data collection process - with the aim to identify recurring issues/challenges – and to what we wish to develop throughout the year (e.g., transition planning or refining our social targets). Thereby, we will investigate possible ESG incentive schemes to, on the one hand, discourage negative behavior or lack of action, while, on the other, encourage positive actions and celebrate motivation and drive towards sustainable goals. Potential ESG incentive schemes may be proposed to the Nomination and Remuneration Committee and must be approved by the Board of Directors. At this occurrence, we will clearly explain the arguments for specific KPIs, such as climate-related considerations. Details on the remuneration policy are available in Chapter 4.3 – Remuneration Report. On the contrary, external incentive schemes are present. Such incentives are applicable to vessel financing in our joint ventures within the framework of sustainability-linked loans. We have committed to meeting ESG KPIs agreed on with financial institutions, in return for lower interest margins. If we do not meet these KPIs, this results in a higher interest margin, acting as a financial incentive to continue our sustainability path.