Gunvor’s commitment to measurable environmental progress is reflected in its ongoing reduction of greenhouse gas emissions across all business segments. In 2025, the Company achieved a 57% reduction in Scope 1 and 2 emissions compared to its 2019 baseline. This reduction was achieved following the decommissioning of our Rotterdam refinery and a reduction in the activity of our powerplant.

Shipping plays a central role in Gunvor’s business model, and optimizing the environmental footprint of this activity is a strategic priority. In 2025, Gunvor re-baselined its targets accordingly (2023 baseline). In 2024, the carbon intensity of the TC fleet improved by 18% compared to the 2023 baseline. Gunvor is working on improving the measure of its VC fleet further.

Progress has also been made in upgrading the efficiency criteria of Gunvor’s vessels. As of the end of 2025, 68% of its Time Chartering fleet consisted of eco-efficient vessels, and all co-owned ships were 100% eco-rated. Additionally, Gunvor continued to measure the Scope 3 carbon intensity related to traded products with emissions metrics disclosed further in this report.

These data points demonstrate both ongoing progress and strategic adaptability, ensuring a continuous focus on operational excellence and environmental impact reduction.