EXMAR NV

M&A Activity • May 21, 2024

EXMAR SELLS LEADING ROPES' MANUFACTURER BEXCO

EXMAR announces the sale of its 100% subsidiary BEXCO NV to Bekaert.

BEXCO is a pioneer in the production of high-quality mooring ropes for offshore installations, ships and other marine applications. Its products are renowned for their durability, strength and reliability making them a preferred choice for customers in the maritime and offshore industry. The cash consideration for the transaction is about EUR 40 million. The sale of BEXCO is part of EXMAR's strategy to focus on investing in a state-of-the-art fleet, including the world's first ammonia fueled seagoing vessels, and to continue to grow its energy infrastructure and engineering services.

"The sale of BEXCO creates value for EXMAR, allowing us to invest in the rejuvenation of our fleet, and continue to be a pioneer in the handling, transportation, and transformation of gaseous molecules. We are convinced BEXCO will be able to continue their growth under the new shareholding of Bekaert.", says Carl-Antoine Saverys – CEO of EXMAR.

"We are proud of BEXCO's achievements and confident that this next chapter will unlock new opportunities as part of the Bekaert Group.", added Francis Mottrie – Chairman of BEXCO.

"We are delighted to welcome the BEXCO team into the Bekaert family. The transition to cleaner sources of energy, such as offshore wind, is critical to meet the challenges of climate change and is also an important part of Bekaert's strategy for growth.", added Yves Kerstens - Chief Executive Officer of Bekaert.

"We believe that joining forces with BEXCO creates a synthetic ropes technology leader that offers an attractive combination for customers in the field of lifting and mooring for offshore energy and marine applications.", added François Desné - Divisional Chief Executive Officer of Bekaert's Bridon-Bekaert Ropes Group.

About EXMAR - EXMAR is a Belgian provider of floating solutions for the operation, transportation and transformation of gas and has a fleet of more than 40 gas carriers and floating gas terminals. EXMAR creates economically viable and sustainable energy value chains in long-term alliances with first-class business partners. Being the world's largest independent transporter of ammonia and building upon the experience and knowledge gained from more than four decades of gas shipping.

For more information contact: Hadrien Bown, CFO E: hadrien.bown@exmar.com | M: +32 3 247 50 74 Website: www.exmar.be

About BEXCO - BEXCO is a leading European manufacturer of precision-engineered synthetic mooring, towing and lifting ropes for offshore, marine and industrial applications. BEXCO serves the world's largest energy companies, ship and tug owners by designing and producing made-to-measure fibre rope at its Belgian main factory in Hamme, as well as in Antwerp at its quayside manufacturing facility. BEXCO has a unique position as a specialized manufacturer of mission-critical synthetic ropes and mooring solutions for the offshore energy industry, with innovative product features and a strong track record of serving customers in the maritime and offshore market.

About BEKAERT - Bekaert's ambition is to be the leading partner for shaping the way we live and move, and to always do this in a way that is safe, smart, and sustainable. As a global market and technology leader in material science of steel wire transformation and coating technologies, Bekaert also applies its expertise beyond steel to create new solutions with innovative materials and services for markets including new mobility, low-carbon construction, and green energy. Founded in 1880, with its headquarters in Belgium, Bekaert (Euronext Brussels, BEKB) is a global company whose 24 000 employees worldwide together generated € 5.3 billion in combined sales in 2023.