Diversification into Sustainable Solutions and Carbon Sequestration GRI 203-2 The Group acknowledges the global trend to transition from fossil fuels to clean and sustainable energy. Renewables represent the largest growth area in new energy supply. In 2019, the Group obtained shareholders’ approval to diversify its business into sustainable solutions for energy production, materials used in various industries, and the ownership or acquisition of related technology. The Company has since gone on to invest in the commercial drone company Xer in an up-and-coming industry. The Group currently holds 50.4 per cent in Xer Tech Holding AB, which has been listed on the Sweden Spotlight Stock Market via a reverse takeover since end-January 2026. Marine Biodiversity GRI 304-2 The Group is dedicated to protecting marine biodiversity and recognises the interconnected nature of marine ecosystems. For sites located offshore or near coastal areas, proactive measures are taken to prevent harmful discharges into the ocean. Before initiating operations at any new site, EIAs are conducted to minimise environmental impact. Additionally, the Group prioritises selecting locations with lower biodiversity to reduce the impact on marine life. In Norway, offshore operations near sensitive areas are strictly regulated, requiring operators to present detailed environmental risk management plans. These must include environmental surveys, mitigation strategies, and comprehensive EIAs as part of the approval process. LPA holds licences and projects in areas with challenges related to cold-water corals, which are managed through careful planning and close collaboration with authorities. The Brage Field, situated in the northern North Sea, began production in 1993, while the Yme Field in the southeastern North Sea started production in 1996 but ceased operations in 2001 due to unprofitability. Production at the Yme Field resumed in October 2021. No protected or threatened areas have been registered near either of these fields. In Oman, of the three protected areas, the closest one to MOL’s Block 50 licence is Bar Al Hickman, which is approximately 100 km away. In the unlikely event of a spill of any kind, any impact on Bar Al Hickman would also be highly unlikely, due to seasonal wind direction. Of greater environmental concern is pollution of beaches in the area caused by indiscriminate dumping of rubbish. MOL has over the years, organised beach clean-ups. Meanwhile, the Gulf of Masirah in the Arabian Sea, off the southeastern coast of Oman, is a core habitat of the highly endangered, non-migratory Arabian humpback whale. The main risk is ship traffic striking the whales. Neither of MOL’s MOPU or FSO move. MOL’s supply boat sails at or below the recommended speeds. Additionally, MOL has been participating in the Oman Natural Capital Finance Project by reporting whale and marine life sightings at the Gulf of Masirah near the Yumna Field in Block 50 Oman, and has reported one sighting thus far. The Group has also actively deployed its in-house technology – RVD – to derisk exploration prospects before drilling. The technology has provided the Group with an additional tool to assess the presence of oil through the study of seismic data, and has aided the Group in achieving four discoveries over the years. This has saved the Group from participating in exploration drillings that eventually turned out dry, hence reducing the waste of resources. Although the Group operates in offshore areas where diversity is scarce, it continues to ensure that its activities do not harm protected species on conservation lists. The Group complies with legal requirements to conduct site-specific EIAs as needed, regardless of biodiversity levels, to uphold environmental standards. Waste Management GRI 306-1, 306-2, 306-3, 306-4, 306-5 In Norway, all waste management procedures are established and implemented following regulations and permits. Waste generated at the Group’s offshore facilities, typical non-hazardous and hazardous wastes, include domestic waste as well as process waste such as general and packaging wastes, food waste, and batteries, amongst many others. Waste waters generated regularly at offshore facilities are sewage, ballast water, deck drainage water, and bilge water. In Oman, MOL follows an operations-specific Waste Management Plan aligned with international standards and local regulations. Offshore waste is transported onshore to the Port of Duqm, managed by vessel contractors, and collected by third-party operators in compliance with Oman’s environmental laws. Waste data is tracked and monitored using consignment notes and receipts from third-party disposal. In Germany, LRG generates waste primarily from onshore drilling and related site operations. The waste streams comprise both non-hazardous and hazardous waste. Non-hazardous waste includes chloride-containing oil-free drilling waste, oil-free drilling muds, and saline drilling fluids. Hazardous waste includes oily drilling muds, oil-contaminated drilling cuttings, drilling waste containing hazardous substances, oily cleaning fluids, and oily water from oil–water separators. Additional waste streams from site activities include residual waste, untreated wood, and wastewater from site facilities. Rex International Holding Limited 83
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