EXMAR Reports Strong 2025 Results in International Shipping News 27/03/2026 During its meeting of March 26, 2026, the Board of Directors of EXMAR reviewed and approved the results for the year ending December 31, 2025. 2025 HIGHLIGHTS ▪ 2025 was characterized by strong cash generation across the various business units. ▪ EXMAR continued its midsize gas carrier (MGC) fleet renewal, launching two new MGCs (CHAMPAGNY and COURCHEVEL) in Q1. The sale of one MGC (WAREGEM) was finalized in Q2. ▪ EXMAR finalized the sale and delivery of three pressurized vessels (DEBBIE, HELANE and ANNE). ▪ In September 2025 EXMAR ordered four Suezmax tankers at Daehan Shipbuilding Co. Ltd., in South-Korea. The first vessel will be delivered in Q3 2027. ▪ EXMAR signed a contract with Regasificadora Del Pacífico (RDP) to deploy a LNG Floating Storage Unit (FSU) in Buenaventura, Colombia, aiming to start operations by Q3 2026. ▪ EXMAR was awarded the extension and further development of the EemsEnergy LNG terminal for operation up to 2036, including a 750 mmscfd FSRU conversion. This contract is subject to the client’s final investment decision. SUBSEQUENT EVENTS ▪ (January 8, 2026) Delivery of the 41,000 m³ newbuild dual-fuel LPG MGC, named MERIBEL. ▪ (January 14, 2026) Delivery of pressurized vessel FATIME to its new owner. ▪ (March 4, 2026) EXMAR agreed to repurchase VLGC Flanders Innovation from its lessor in JPY — expected ~$12m financial gain; The vessel will be delivered end-June 2026. ▪ (March 26, 2026) EXMAR agreed to repurchase VLGC Flanders Pioneer from its lessor in JPY — expected ~$12m financial gain; The vessel will be delivered in March 2027. Revenue in the shipping segment was up slightly compared to 2024, mainly driven by the delivery of two new MGCs, offset by the sale of one MGC and three pressurized vessels. The market was stable throughout the year, despite a weaker market in Q2 2025. This was absorbed by the healthy contract cover in the segment. Market overview In 2025, despite ongoing geopolitical, economic, and regulatory volatility, global LPG demand grew, albeit at a slower pace. The US and Middle East drove exports, with China as the main importer, mostly via VLGCs. Spot rates for VLGCs and MGCs held firm compared to 2024, reflecting a resilient market. EXMAR maintained high fleet utilization and secured both short- and long-term charters, with 86% of MGC capacity already covered for the remainder of 2026. Recent US port tariff changes affecting Chinese vessels do not impact EXMAR. However, delays in the IMO Net-Zero framework have increased regulatory uncertainty for emissions-related incentives and cleaner fuel regulations. The EXMAR fleet has to date no immediate operational impact resulting from the geopolitical tensions in the Middle East and the closure of the Strait of Hormuz. Fleet renewal and expansion EXMAR is currently executing one of the most ambitious newbuilding programs in its history. With vessels under construction across shipyards in South Korea, China, and Japan, EXMAR is strategically positioning its fleet to meet the dual challenges of global energy security and the need for low-emission, cost efficient transport. During the first quarter of 2025, two 46,000 m³ dual-fuel LPG vessels (CHAMPAGNY and COURCHEVEL) were delivered and operate successfully for top-tier clients. EXMAR also took delivery of MERIBEL, a 41,000 m³ dual-fuel LPG vessel from CIMC SOE, in January 2026, and has an additional seven newbuilds planne