EXMAR report 2025

Shipping In Shipping, we celebrated the delivery of CHAMPAGNY and COURCHEVEL, the first two 46,000 m³ dual-fuel midsize gas carriers from our fleet renewal program at Hyundai, South Korea, as well as the naming of MERIBEL and MENUIRES at CIMC SOE in Nantong, China. These milestones significantly reinforce our position in the midsize gas carrier (MGC) segment and mark the start of operations for EXMAR LPG France. Commercially, we expanded our customer base, secured solid coverage for 2026, and diversified our future growth through new Suezmax tanker orders at Daehan Shipyard, China. Infrastructure In Infrastructure, the teams delivered excellent performances throughout the year, in both the LNG and offshore activities. Besides the excellent performance of the existing assets, a major highlight was our strategic partnership with Gasunie and Vopak to extend and expand our cooperation for the Eemshaven LNG import terminal in the Netherlands beyond 2027, resulting in an additional Floating Storage and Regasification Unit (FSRU) that will bring the combined terminal LNG storage capacity to around 190,000 m³. This is a major accomplishment for our company and reflects our ability to work in close partnership with our customers. Further progress was also made on the Colombia Floating Storage Unit project for which contracts became fully effective, underscoring our commitment to provide efficient solutions to our customers. The LNG operations in Colombia will commence later this year. Our engineering teams EOC and DVO continued to make steady progress during the year, with EOC successfully concluding a second OPTI‑floater for bp for their Tiber project in the US Gulf. This marks the award of the 7 th OPTI Floating Production Unit design, underpinning the market’s recognition of the unique project development skills of our engineering and infrastructure divisions. This is a testament to our teams’ professionalism and execution capabilities. The award of the Cedar FLNG Operations & Maintenance contract further reflects the confidence our partners continue to place in EXMAR Ship Management’s expertise in large floating LNG projects. Outook Looking ahead, 2026 will bring important milestones, with eight vessels scheduled for delivery, including the world’s first dual-fuel ammonia‑powered ships and seven dry‑dockings scheduled. I am confident that, with the commitment and expertise of our teams, we will achieve these milestones safely and efficiently. As always, safety remains our top priority, and I thank everyone for maintaining an excellent track record in 2025. Let us continue to build on that momentum and always strive to improve further. Thank you again for your hard work, collaboration, and spirit. Carl-Antoine Saverys CEO, EXMAR FOREWORD First and foremost, I want to thank all colleagues across EXMAR's offices worldwide for their dedication, resilience, and teamwork. Despite ongoing challenges in global markets, our collective efforts have delivered strong results and further strengthened our position as a leader in the gas value chain.