REGULATION IMO adopted in April 2018 an initial strategy on the reduction of GHG emis- sions from ships in line with the Paris Agreement, which contains 3 levels of ambition:

1

stricter energy efficiency design for new ships (EEDI);

2

reduction of CO2 emissions per trans- port work of 40% in 2030 and 70% in 2050, versus 2008 baseline;

3

reduction of total GHG emissions by 50% in 2050, versus 2008 baseline.

A first series of short-term measures were worked out during the pandemic for vali- dation in 2021 and most likely implemen- tation in 2023.

1

The IMO finally decided to approve goal-based measures with the Energy Efficiency for Existing Ship Index (EEXI) and the Carbon Intensity Indicators (CII) to be implemented by 01/01/2023.

2

EEDI Phase 3: MEPC 75 adopted new standards and early implementation (2022) for container ships. The creation of a phase 4 is under discussion through IMO dedicated working group.

In order to cope with the short-term mea- sures of IMO, CMA CGM has put in place a program called Roadmap 2023/2030.

In the two years to come, CMA CGM will continue to work on further energy efficiency initiatives and necessary retro- fitting of vessels, will have opened its state-of-the-art new Fleet Center equip- ped with the best technologies avai- lable today, will have more LNG vessels in fleet, will have established its energy mix strategy and re visited its network of services offered to its customers, not for- getting about efficiency gains in relation with operational efficiencies.

In December 2019, the European Commission presented its Green Deal Strategy, an action plan to reach climate neutrality by 2050. In this outlook, it set an objective of reducing CO2 emissions from transport by 90% by 2050.

In December 2020, the Commission also published its European Smart and Sustainable Mobility Strategy, including an action plan of 82 measures, many of which target the shipping sector. The two main initiatives are the inclusion of shipping in the EU carbon market (ETS) and a basket of measures to support amongst other initiatives, the uptake of low/zero carbon fuels in the sector. the EU taxonomy, to be finalized in 2021, will be an important reference point for directing funding towards less emitting activities.

These new regulations, although necessary in the present context, will most likely entail changes in the supply chain of our customers.

EU - GREEN DEAL

IMO

ACTING FOR PLANET

C M A C G M S U S T A I N A B L E D E V E L O P M E N T