EXMAR report 2023

Composition Currently, the Board of Directors consists of 10 members, a sufficient number of directors to ensure proper operation, taking into account the Company’s specifics. EXMAR’s Board of Directors reflects diversity in its composition: directors differ not only in terms of background, education, age and gender, but also regarding their independence, experience and professional expertise. As an example of age diversity, the age of the members of the Board of Directors ranges between 34 and 70 (as per 31 December 2023). The aforementioned diversity will ensure a range of perspectives, insights and the critical thinking that are essential to enable efficient decision-making and good governance. The Nomination and Remuneration Committee reviews and assesses the composition of the Board of Directors and advises the Board of Directors on the appointment of new Board members as well as the renewal of the existing mandates. The Nomination and Remuneration Committee considers candidates on merit without losing sight of the need for diversity including criteria such as background, education, age, gender, independence, professional skills, professional and personal experience. Functions and terms of office of the directors on the Board as per 31 December 2023: A detailed description of the directors can be found at https://EXMAR.com/en/investors/management/ board-directors NAME – POSITION START OF MANDATE TERM ENDS ATTENDENCE OF MEETINGS Nicolas Saverys · Executive Chairman · Executive Director 20 June 2003 AGM 2024 7/7 FMO BV represented by Francis Mottrie · Executive Director · Chief Executive Officer (CEO) until 1/1/2024 11/sep/20 AGM 2025 7/7 Michel Delbaere · Independent Director · Chairman Nomination and Remuneration Committee 17 May 2016 AGM 2025 7/7 Baron Philippe Vlerick · Non-Executive Director · Chairman Audit and Risk Committee 20 June 2003 AGM 2026 6/7 Isabelle Vleurinck · Independent Director · Member Audit and Risk Committee · Member Nomination and Remuneration Committee 21 May 2019 AGM 2025 7/7 Wouter De Geest · Independent Director · Member Audit and Risk Committee 19 May 2020 AGM 2025 7/7 Carl-Antoine Saverys · Executive Director 18 May 2021 AGM 2024 7/7 Stephanie Saverys · Non-Executive Director 18 May 2021 AGM 2024 7/7 ACACIA I BV represented by Els Verbraecken · Independent Director · Member Audit and Risk Committee · Member Nomination and Remuneration Committee Co-opted on 9 September 2021 confirmed by the General Meeting of 17 May 2022. AGM 2025 6/7 Maryam Ayati · Independent Director Co-opted on 9 September 2021 confirmed by the General Meeting of 17 May 2022. AGM 2025 6/7 94 CORPORATE GOVERNANCE STATEMENT