EXMAR report 2025

3.2 Environment 98 3.2.5  Climate change mitigation action plan Climate change mitigation refers to actions to limit greenhouse gases in the atmosphere that cause climate change. Climate change mitigation actions include, amongst others, conserving energy and replacing fossil fuels with clean energy sources. In 2024, first steps towards the development of a climate change mitigation action plan were made by defining several actions related to energy efficiency and fuel transition. These actions are not yet quantified in achieved and expected GHG emission reductions. The implementation of these actions is directly dependent on the availability and allocation of both internal and external resources, including financial support and personnel. Hence, we have ensured adequate resource allocation to timely and effectively execute these measures (see financial resources below). For the short-term actions, necessary budgets in terms of personnel and tools have been considered. Mid-term investments are part of the financial planning of the group. New investments will be taken into close consultation with our stakeholders to safeguard the long-term viability of our company. In general, our ESG taskforce is mainly responsible for the realization of the actions below, supported by the energy efficiency team. This team is responsible for identifying, implementing and monitoring the success of operational energy management measures and for safeguarding the organizational anchoring thereof. They oversee for example the content of the Ship Energy Efficiency Management Plan (SEEMP), roll-out specific operational actions, identify potential improvement measures, ensure accurate data reporting from vessels, and conduct continuous performance analysis. 3.2.5.1 ENERGY EFFICIENCY ACTIONS In the short term, we will focus on actions and measures related to the day-to-day operations of our vessels. For shipping and infrastructure, we foresee to roll out a digital and enhanced performance platform for the fleet. Additionally, we will closely follow-up on performance ratings (such as CII & FuelEU Maritime), as well as execute proactive hull and propellor inspections (ensuring continuous performant vessels). Related to supporting services, we will endeavor to train personnel in energy efficiency and to maintain ISO 50001 certification. Mid-term actions and investments are focused on the use of fuel-efficient process equipment for the BU Infrastructure. Secondly, concerning supporting services, we aim to track the actual footprint for our main suppliers (procurement) and to incorporate this in the sourcing and evaluation process for suppliers. On top, we are developing a program for optimization of crew changes and related business travel. 3.2.5.2 FUEL TRANSITION ACTIONS For the fuel transition, we will also focus on actions and measures related to the day-to-day operations of our vessels in the short term. For shipping and infrastructure, we will (where required) open a dialogue with stakeholders to reduce emissions by improving operational efficiency and switching to cleaner fuels where feasible. Moreover, we aim to create KPIs on fleet level and open the dialogue with stakeholders to burn low carbon and/or biofuel blends, both aiming to stay below GHG in line with FuelEU Maritime reference GHG intensity or other applicable emission regulations, which have been set by qualified authorities to comply with the Paris Agreement. Our mid-term actions and investments on fuel transition focus for shipping in first instance on the new building project and employment of twelve LPG fueled vessels and four ammonia fueled vessels. Additionally, we aim to reduce the exposure to conventional fuel by marketing some older vessels for sale and reducing the older conventional fueled fleet, while expanding our dual fuel fleet. Lastly, we intend to work with all stakeholders to assist in the transition towards decarbonization of both transported products and transportation methods. For infrastructure we will promote shore power connections and electrical drivers instead of combustion engines or gas turbines. 3.2.5.3 FINANCIAL RESOURCES The table below demonstrates the financial resources that were made available in 2025 for the implementation of our actions. Future financial resources are not listed yet. The main costs depicted are related to OpEx and CapEx. For OpEx, we are spending significant amounts on a yearly basis to capture, monitor and optimize the energy efficiency of our vessels. One of the methods is via collection of sensor data and creating digital twins. Furthermore, we organize energy efficiency training and maintain an ISO 50001 certificate. We have also made a one-time investment to implement a new accounting logic for the reporting of GHG emissions with the support of an external consultant (Moore). Related to CapEx, the EXMAR Technical Department is supporting the plan approval phase while building new vessels and providing on-site support during the construction of newbuild vessels. This is an initiative taken by the company as it is not a legal requirement nor an industry standard.