EXMAR report 2024

3.3 Social 89 3.1.2.3 Contract types Seafarers commonly work under temporary contracts due to the unique nature of the maritime industry, with its specific operational, regulatory, and logistical challenges: ■ Seafarers often work in rotational patterns, such as "onboard for 3 months, off for 3 months." Temporary contracts align with these rotational schedules, allowing seafarers to spend extended periods at home between assignments, balancing intense work periods with personal time. ■ Vessels operate in international waters under different flags (registering a vessel under a foreign jurisdiction). This system allows companies to employ seafarers from different countries under temporary arrangements that align with varying labor laws and cost structures. ■ Proving the flexibility to shift crew between vessels based on their specialized skills for a particular type of cargo or vessels. This creates diverse professional experiences and career growth opportunities. These temporary contracts provide seafarers with the flexibility to choose assignments aligning with their personal and professional goals while also allowing them to explore new opportunities between contracts. Recognizing the value of experienced and committed crew members, we prioritize retention efforts, resulting in over 70% of our seafarers having been with EXMAR for more than five years. Below is an overview of the different contract types of our own workforce. Female Male Other Not reported Total Number of permanent employees 121 181 0 0 302 Number of temporary employees 31 1,188 0 0 1,219 Number of non-guaranteed hours employees 0 0 0 0 0 Number of full time employees 133 1,366 0 0 1,499 Number of part-time employees 19 3 0 0 22 Total employees 152 1,369 0 0 1,521 In total 260 employees left EXMAR in 2024. With an actual employee turnover rate of 17.09% , we demonstrate our commitment to retaining and investing in our workforce, creating a stable and engaged team that drives long-term success.