A merican Club Circular No . 17/25 1 JULY 2, 2025 CIRCULAR NO. 17/25 TO MEMBERS OF THE ASSOCIATION Dear Member: THE AMERICAN CLUB’S ANNUAL MEETING OF THE MEMBERS. BOARD NEWS. ANNUAL REPORT AND ACCOUNTS FOR 2024. REDUCTION OF RELEASE CALL TO ZERO FOR POLICY YEAR 2022-2023. Annual Meeting of the Members – Board News At the American Club’s one-hundred-eighth Annual Meeting of its Members, which took place on Thursday, June 26, 2025, in New York, all those Directors who had been nominated for election and reelection, as earlier notified to the membership, were duly elected for the forthcoming twelve-month term. The Board of Directors as of June 26, 2025: Chairman Robert D. Bondurant Martin Resource Management Corp Deputy Chairman John A. Witte, Jr. Donjon Marine Co., Inc. Directors SV Anchan Safesea Group Shawn Bennett Baydelta Maritime, Inc. Judy Collins-Peterson Independent Board Member John E. Couloucoundis Delta Navigation Corp. Gary K. Cutler Poling & Cutler Marine Transportation, LLC Boriana Farrar Patriot Contract Services, LLC. Elias Gotsis Eurotankers Inc. Katerina Helioti Polembros Shipping Limited Chih-Chien Hsu Eddie Steamship Company, Ltd. Joseph E.M. Hughes Club Manager Jian Kang CCCC International Shipping Corp. Ioannis Kefalas Mariners Shipping Agency S.A. Angelos D. Kostakos Oceanstar Management, Inc. Maria Christina Ktistakis Genimar Shipping & Trading S.A. Christian Lund SunStone Ships, Inc. Irene (Cabezas) Marinakis Marinakis Chartering Inc. Paul Sa Independent Board Member David Wood United States Seafoods, L.L.C. A merican Club Circular No. 17/25 2 At the Annual Meeting of the Club’s Board of Directors, Mr. Robert D. Bondurant of Martin Resource Mgmt. Corp., and Mr. John A. Witte, Jr. of Donjon Marine Co., were elected Chair and Deputy Chair of the Board. At the same time, Ms. Dorothea Ioannou, Chief Executive Officer of the Club’s Managers, was re-elected as Secretary and Mr. LeRoy Lambert, of Poles, Tublin, Stratakis, & Gonzalez, LLP, was re-appointed General Counsel at the regular meeting of the Board which followed. American Club’s Annual Report and Accounts for 2024 During the Annual Meeting of the Members, the American Club’s Annual Report and Accounts for the year ended December 31, 2024, were presented. As described in the narrative contained in the Annual Report, while volatility intensified, and claims severity characterized the year, especially with respect to International Group Pool claims, 2024 was ultimately a year of solid growth, with 17% increased surplus and a financial year combined ratio standing at approximately 101%. Release call for the 2022-2023 Policy Year At the regular Board Meeting which took place shortly after the Annual Meetings of the Members and Directors, in anticipation of closure of the 2022-2023 policy year, as projected in November 2024, it was resolved to reduce the respective release call to zero. The Managers and Directors take this opportunity to thank the membership for the loyalty shown through the years. If there are any questions with respect to this Circular, the Managers will be pleased to respond to them. Yours faithfully, Dorothea Ioannou, CEO Shipowners Claims Bureau, Inc., Managers for THE AMERICAN CLUB