EXMAR report 2025

Innovations 43 EXMAR growing OPTI® footprint In September 2025, bp approved final investment decision for the Tiber-Guadalupe deepwater development in the US Gulf marking an additional major step in their strategic development of the Paleogene, almost one year to the date that they sanctioned its first development utilizing the largest of EOC’s OPTI ® designs of 12,500 tons for the Kaskida Floating Production Unit. In sanctioning the Tiber project, bp has demonstrated its commitment to leveraging the OPTI ® hull design and the EOC team who will perform engineering and design, once again, in 2026-2027. Tiber will be a copy of the Kaskida hull allowing bp to capture engineering, management, procurement and execution efficiencies. Kaskida Currently under construction in Singapore, the Kaskida hull is in fabrication following steel cutting in September 2025. In 2026, EOC is on track to complete detailed engineering of the hull. Throughout the Kaskida project, EOC will continue to work in support of the project through to installation, which is planned for 2028. Kaskida will utilize EXMAR’s proprietary FAST ® riser connection method which was most recently and successfully implemented on the Shenandoah and Salamanca projects in 2025. Tiber With Final Investment Decision in 2025 and successful conclusion of the contract for detailed engineering in December 2025, EOC will transition to the engineering phase according to a plan that has been implemented to benefit from the resource efforts on Kaskida. As the Kaskida work winds down, Tiber detailed engineering will be fully loaded as planned, with complete and current knowledge transferred from Kaskida. 2.2 INFRASTRUCTURE