MPC Container Ships : Financial Report Q1 2026 Report

‌FINANCIAL REPORT Q1 2026

‌3 Highlights‌

HIGHLIGHTS

First Quarter 2026

CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

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+ Solid financial and operational performance leading to Q1 adjusted EBITDA of USD 39.9 million

+ Prepaid USD 32.4 million of the existing USD 50.0 million loan facility with HCOB

+ Agreed to sell a wholly-owned vessel, AS Clementina, with expected delivery in June 2026

+ Acquired the remaining 9.9% interest in MPCC Greenbox AS, becoming sole shareholder of the entity owning NCL Vestland and NCL Nordland

+ The Board of Directors has declared a recurring dividend of USD 0.04 per share for the first quarter of 2026, payable on or about June 26, 2026

Financial Report Q1 2026

‌4 Key Figures‌

KEY FIGURES

CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

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1 Key figures include Alternative Performance Measures (APM). Refer to the APM section for definitions, explanations, and reconciliations of the APM's.

2 Dividends per share (DPS) comprises the recurring dividend per share and any event-driven dividends per share declared for the period. For the first quarter of 2026, a recurring dividend of USD 0.04 per share was resolved by the Board of Directors on May 26, 2026, and will be paid on June 26, 2026.

Financial Report Q1 2026

‌5 Letter to Shareholders CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

LETTER TO SHAREHOLDERS

Constantin Baack

CEO

Moritz Fuhrmann

Co-CEO and CFO

The container market entered 2026 with renewed turbulence. The escalation of the conflict in the Middle East in late February led to the effective closure of the Strait of Hormuz. In parallel, evolving

U.S. trade policy continued to shape sentiment and global seaborne trade. The combined effect are more ton-miles, longer voyages, port congestion, and structural absorption of tonnage across all size segments, supporting the time charter market and asset values.

Within this environment, the small and mid-size segments where MPCC operates remained well supported. Resilient intra-regional trade, limited availability of modern feeder tonnage and an orderbook concentrated in larger vessels continue to underpin a favorable supply/demand balance.

Our contracted revenue backlog remained above USD 2 billion. Forward coverage is the single best measure of earnings visibility and with 2026 essentially fully secured, we head into the remainder of the year with strong momentum. During the quarter, we added meaningful cover for 2027 and 2028, driven by long-standing charter relationships and a modern fleet in high demand with liner operators.

Fleet renewal remains an important long-term value driver within our control. Our newbuilding program of 17 modern, fuel-efficient and dual-fuel-ready newbuildings is fully employment-backed by leading liner operators. During the quarter we continued divesting older tonnage at attractive pricing, resulting in a younger, more modern fleet with no employment risk in connection with our orderbook.

‌6 Letter to Shareholders CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

Our balance sheet remains conservative, with moderate leverage and a significant portion of the fleet debt-free. Access to diversified financing sources further strengthens our resilience and supports our ability to act opportunistically across market cycles. Our capital allocation framework is unchanged and continues to balance disciplined reinvestment in fleet renewal and efficiency with sustainable shareholder distributions.

Looking ahead, market conditions will continue to be shaped by geopolitical developments, the trajectory of the Iran conflict and the timing of any return to Suez routing, alongside regulatory evolution. The structural fundamentals of the small and mid-size container segments remain supportive, with continued undersupply of modern feeder tonnage and sustained forward charter-in appetite from the leading liner operators. Our position is defined by a strong backlog,

a younger and more modern fleet, moderate leverage and a fleet transformation program that is funded and employment-backed.

Sincerely,

The first quarter of 2026 marked a solid start of the year for MPCC, against one of the most disrupting trading environments in recent years.

Constantin Baack CEO

Moritz Fuhrmann Co-CEO and CFO

‌7 Financial Review‌

FINANCIAL REVIEW

CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

The Group's vessels are chartered out on time charter contracts to global and regional liner shipping companies. Operating revenues for the first quarter of 2026 were USD 118.9 million (Q4 2025: USD 127.0 million), compared with USD 127.1 million for the same quarter in 2025. The average TCE per trading day for the first quarter of 2026 was USD 25,040 (Q4 2025: USD 25,551) as compared to the average TCE per day of USD 25,441 in the corresponding quarter in 2025.

Refer to the APM section for further details.

The Group reported a profit for the first quarter of 2026 of USD 40.8 million (Q4 2025: USD 45.9 million) compared to USD 59.7 million for the same quarter in 2025.

The Group's total assets amounted to USD 1,505.6 million as at March 31, 2026, compared to USD 1,526.6 million as at December 31, 2025. Total non-current assets of USD 1,080.9 million as at March 31, 2026 (USD 1,034.3 million as at December 31, 2025) reflected mainly the carrying amounts of the vessels operated by the Group, newbuildings, and investments in associate and joint ventures.

The increase in non-current assets during the period was mainly attributable to yard instalments of USD 71.1 million relating to the Group's newbuilding program during the first three months,

as well as the recognition of an investment in joint venture of USD 8.6 million, partly offset by depreciation of USD 22.6 million and the derecognition of USD 17.1 million of previously capitalized

newbuilding expenditures in connection with the joint venture. See

Note 5 and Note 7 for further details.

As at March 31, 2026, the Group's other current financial assets include money market transactions that amounted to USD 85.8 million (USD 71.6 million as at December 31, 2025). Cash and cash equivalents as at March 31, 2026 amounted to USD 269.3 million including restricted cash of USD 8.9 million, compared with

USD 354.9 million as at December 31, 2025.

Total equity was USD 949.2 million as at March 31, 2026, up from USD 934.2 million as at December 31, 2025, and included a non-controlling interest of USD 0.6 million (USD 4.6 million as at

December 31, 2025). The change in equity was mainly due to profit for the first quarter of 2026 of USD 40.8 million, offset by dividend payments of USD 22.2 million and repurchase of non-controlling interest of USD 3.8 million. In January 2026, the Company acquired the remaining 9.9% interest in MPCC Greenbox AS for USD 3.8 million. Following completion of the transaction, the Company became the sole shareholder of MPCC Greenbox AS, which owns the two vessels, NCL Vestland and NCL Nordland.

As at March 31, 2026, the Group had total interest-bearing debt of USD 462.9 million (USD 503.9 million as at December 31, 2025). See Note 9 for further details.

As at March 31, 2026, the Group's fleet consisted of 51 vessels, with an aggregate capacity of approximately 129,192 TEU.

In January 2026, the Group agreed to sell a wholly-owned 2006-built vessel, AS Clementina, to an unrelated party for USD 24.0 million.

The planned delivery shall take place around June 2026, upon the completion of its current charter.

In April 2026, the Group agreed to sell a wholly-owned 2008-built vessel, AS Alva, to an unrelated party for USD 22.3 million.

AS Felicia, a wholly-owned vessel which was agreed to sell in 2025 is expected to be delivered to its new owner in May 2026. See further in Note 14.

‌8 Financial Review CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

As at March 31, 2026, the carrying amount of the Group's directly controlled newbuilding program was USD 112.9 million, including capitalized borrowing costs of USD 2.7 million. The remaining outstanding commitments as at March 31, 2026 was USD 633.7 million of which USD 75.4 million is due in 2026.

Pursuant to the Company's stated distribution policy, the Board of Directors has declared a recurring dividend of USD 0.04 per share for the first quarter of 2026, corresponding to a total dividend payment of approximately USD 17.7 million, depending on prevailing FX rates. The dividend payment will be made in NOK.

The record date for the recurring dividend will be June 22, 2026. The ex-dividend date is expected to be June 19, 2026, and the dividend will be paid on or about June 26, 2026.

The Group had 443,700,279 ordinary shares outstanding as at March 31, 2026. The weighted average number of shares outstanding for the purpose of calculating basic and diluted earnings per share for the first quarter of 2026 was 443,700,279.

In January 2026, the Group prepaid the outstanding USD 32.4 million of the existing USD 50.0 million loan facility with HCOB and subsequently terminated the loan.

In February 2026, the Group prepaid USD 4.0 million of the existing USD 101.5 million Crédit Agricole loan facility with K-SURE agent.

In March 2026, the Group further drew down USD 4.0 million of the USD 29.3 million green term loan facility with Société Générale to fund its newbuild, AS Friederike. As at March 31, 2026, USD 23.3 million remained unutilized.

As at March 31, 2026 the Group's total interest-bearing debt outstanding amounted to USD 462.9 million. See Note 9 for further details.

In April 2026, the Group entered into pre-hedging arrangements with several financial institutions . The hedging transaction comprises

a USD SOFR-linked interest rate swap with an effective date of October 29, 2027 and a termination date of July, 31 2039, intended to mitigate exposure to floating interest rate risk associated with the underlying long-term debt financing.

‌9 Container Market Update CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

CONTAINER MARKET UPDATE

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Global insecurity increasing but charter rates and asset values remain strong.

The year 2026 took off where the year 2025 ended. Global chaos and instability surged with increased geopolitical interference, habitual tariff-threatening by President Trump and an attack on Iran by the United States and Israel which then escalated quickly. The conflict and the stream of ceasefire and peace-talk announcements are currently keeping energy analysts, economists, and equity markets on their toes. Lately, it appears, crude prices have responded more to social media posts than actual commodity flows or ships actually transiting the Strait of Hormuz. (At the time of writing, once again a peace deal was reportedly imminent (as per May 6) while mutual kinetic energy exchanges between the conflict parties on May 7 according to Trump were not a violation of the ceasefire.)

For the global economy, the timeline of the unwinding of the chaos in the Strait of Hormuz will be key in determining how much output growth will be impacted. In its latest World Economic Outlook, the International Monetary Fund (IMF) forecasts the world economy will grow by 3.1% in 2026 while warning that under "adverse" or "severe" conditions, growth could be as low as 2.5% or 2%, respectively.

Regarding the development of world trade, the IMF continues to expect a slowdown versus 2025, where disproportionately strong trade growth was driven by front-loading effects. All in all, trade in goods and services is expected to slow from a substantial 5.1% growth to a still healthy 2.8%.1

Container shipping demand, however, appears to be unfazed by these developments. The Shanghai Containerized Freight Index (SCFI) is up, suggesting carriers have been able to pass the high bunker cost on to customers, and with time charter rates and secondhand values continuing to edge higher from already very strong levels in recent months, there appears to be no lack of demand for containerships. This is largely explained by the ongoing Red Sea diversions, where the outlook of a safe return of carriers has been further reduced by the ongoing war on Iran. In addition, carriers appear to suffer from operational issues where "(…) the continuing lack of vessel reliability has created a new baseline

for vessel capacity absorption, at a level 2-3 times higher than the pre-pandemic normality, tying up a historically larger share of capacity," according to a recent analysis from Sea Intelligence.2

1 International Monetary Fund, World Economic Outlook, April 2026.

2 Sea Intelligence, Sunday Spotlight 762, April 26, 2026.

Financial Report Q1 2026

‌10 Container Market Update CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

Lastly, there are the underlying fundamentals, where a relatively moderate fleet expansion (Clarksons expects 4-5% in 2026) is met with an average container trade volume growth of 2.8% in 2026. 3 These fundamentals are no immediate cause for concern, but beyond 2026, the fleet expansion is expected to pick up speed (2027: 7-8%) 4 implying a potentially weaker market balance. An actual peace deal and a credible reopening of the Red Sea passage could therefore accelerate the normalization of freight rates.

The first quarter of the year opened with the market sliding down the

pole. The SCFI stood at 1,656 points at the end of December before

With a clear competitive advantage, it would not have taken long for other liners to follow, which ultimately would have released a huge amount of vessel capacity.

The picture shifted dramatically in March, driven by escalation in the Middle East. US and Israeli strikes on Iran disrupted vessel

traffic through the Strait of Hormuz, which carries roughly 20% of global oil, pushing up crude oil prices and bunker fuel costs. Carriers responded quickly by introducing emergency fuel surcharges.

Alongside these, carriers tried to push through Freight All Kind (FAK) rate increases on the mainlane trades, effective mid-March and then again effective first of April.

FIG. 1: SHANGHAI CONTAINERIZED FREIGHT INDEX (SCFI) COMPREHENSIVE INDEX

5,110

5,000

4,000

3,734

3,000

2,240

1,911

2,000

1,000

0

Index 6,000

starting its descent until it hit 1,251 points in February. That month saw a sustained downward trend, with successive weekly declines driven primarily by weaker demand tied to the Chinese New Year period, during which industrial and manufacturing activity in China

For shippers signing 2026 contracts, the leverage shifted noticeably. Long-term contract rates negotiated for Q1 2026 came in below spot market rates, particularly into the Mediterranean. On January 21,

Jan-17

Jan-18 SCFI

Jan-19

Jan-20

Jan-21

Jan-22

Jan-23

Jan-24

Jan-25

Jan-26

was temporarily reduced. By mid-February, the year had already seen six consecutive weeks of freight rate declines.

A key structural factor adding further pressure was the gradual reopening of the Suez Canal. CMA CGM restarted a weekly eastbound loop in December, then began resuming westbound routing in January 2026, targeting ten Suez voyages by the end of that month.

3 Clarksons Shipping Intelligence Network, https://sin.clarksons.net/News/ Article/224060#!#sincustomhome, accessed May 8th, 2026.

4 Clarksons Shipping Intelligence Network, https://sin.clarksons.net/News/ Article/224060#!#sincustomhome, accessed May 8th, 2026.

5 Xeneta Research, January 2026.

6 US Supreme Court, February 2026.

7 Penn Wharton Budget Model calculations based on data from U.S. International Trade Commission (USITC) Data Web, April 2026.

average long-term rates from the Far East to Mediterranean stood

$2,200 per FEU lower than the average spot rate, while into North Europe the spread was $770 per FEU. That said, long-term rates remain substantially elevated compared to pre-Red Sea levels: Far East to Mediterranean was still up 45% versus end-2023, and into North Europe up 58%.5

The quarter was also significantly shaped by two major tariff developments in the United States. On February 20, the Supreme Court ruled that the president cannot impose tariffs under the International Emergency Economic Powers Act (IEEPA), finding that the Act's language does not confer taxing power, which remains

a constitutional authority outside presidential reach under this

statute. The government was required to refund an estimated $166

billion in IEEPA tariffs collected from more than 330,000 businesses. Responding swiftly, President Trump signed an executive order on the same day imposing a 10% tariff on all countries under Section 122, citing large and persistent US balance-of-payment deficits.

These tariffs, which apply to approximately $1.2 trillion worth of imports, took effect on February 24 and are set to expire after 150 days. The president subsequently signaled an intent to raise the rate to 15%, though it currently remains at 10%.6

In terms of the broader effective tariff picture, the average effective US tariff rate rose to 8.9% in February 2026 from 2.3% in January 2025. Among major trading partners, China faced the highest effective rate at 31.6%, while steel and aluminum products were subject to a combined effective rate of 40.1%.7

‌11 Container Market Update CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

In the first quarter of 2026, we saw even more uncertainty and chaos spread across the global stage. One thing that did not get affected much by this development was the container time charter market.

A combination of low vessel availability and ongoing demand for tonnage helped sustain charter rates despite the erupting Middle East conflict. The Strait of Hormuz is less relevant for container shipping than for other ship types. Although Dubai's Jebel Ali is the ninth largest container port in the world, only 3.5% of global container port handling takes place inside the Persian Gulf.8

to Q4 2026 positions to secure tonnage in advance. Even in the 2,000-3,000 TEU size, there is hardly anything open before Q3 2026. The feeder sizes below 2,000 TEU have somewhat more to offer in terms of vessel supply, but demand is still steadily present as well. This positive sentiment can be felt across all sizes, with a charter market that is seemingly impervious to shocks from the wider macroeconomic environment.

The idle statistics, published fortnightly by Alphaliner, also support these facts. For the whole of Q1 2026, the share of unemployed vessels remained below 1%. What helped keep idle figures low was the fact that carriers were forced to adapt their networks in the wake

FIG. 2: HARPEX - TIME-CHARTER RATE DEVELOPMENT, 6-12 MONTHS

4,586

2,266

1,973

810

Index 5,000

4,000

3,000

2,000

1,000

0

This resilience is reflected by the Harper Petersen Time Charter Rate Index (HARPEX). Although there has not been much movement overall, the index still moved from 2,186 points at the start of the year

of the Middle East war. This led to diverted schedules and sailings, which in turn have kept tonnage tied up in detours and delays in addition to the already tight supply.10

Jan-17

Jan-18 HARPEX

Jan-19

Jan-20

Jan-21

Jan-22

Jan-23

Jan-24

Jan-25

Jan-26

to 2,217 points at the end of the first quarter 2026 and even further to 2,266 points at the end of April, as seen in Fig. 2.9 In fact, every single segment assessed as part of the index from 700 TEU up to 8,500 TEU increased during the first quarter of the year.

The main issue that has been keeping the charter markets elevated over the past quarters has been the low availability. Going into 2026, vessel supply is still at a very low level. Especially when looking at ships that could come open over the next two to three months, the list is very short. Above 3,000 TEU, many charterers have to turn

The outlook for the container charter market is positive for the short term. Although the underlying fundamentals have indicated a decline in rates for some time, the current geopolitical landscape is causing enough chaos that the market is mostly influenced by other factors than simply supply and demand. Besides tonnage tied up in delays, positive factors are slower steaming because of high fuel prices and longer sailing distances due to regional conflicts prompting ships to take alternative, longer routes. All these factors have underpinned the container charter market in recent months and, at the time of writing, are expected to persist in the short term.

FIG. 3: IDLE STATISTICS

301

Total idle fleet as of April 20th, 2026:

81 vessels (236k TEU; 0.7% of total fleet)

64

19

No. of vessels 350

300

250

200

150

100

50

8 Maritime International Strategies, March 2026.

9 Harper Petersen, March 2026.

0

Jan-17

Jan-18

Jan-19

Jan-20

Jan-21

Jan-22

Jan-23

Jan-24

Jan-25

Jan-26

10 Alphaliner, Weekly Newsletter 2026-17, April 2026.

‌12 Container Market Update CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

Figure 4 shows that both the containership fleet as well as the orderbook has grown steadily over the first quarter. The

FIG. 4: ORDERBOOK AND FLEET DEVELOPMENT

TEUm %

The positive sentiment in the charter markets throughout the first quarter of this year continued to boost asset prices for secondhand container ships. Prices continued to rise in the first quarter and Clarksons' Secondhand Price Index increased by another 2% quarter-on-quarter from already elevated levels. By the end of April, the Index stood at 84 index points, which is the highest level since October 2022. The tight availability of charter tonnage is prompting

market players to increasingly turn their attention to the secondhand market. Transactions picked up during March. In total, 63 vessels with a total capacity of 154k TEU were confirmed sold in the first quarter.11 Secondhand prices are forecast to stay elevated during 2026 and either remain slightly above or at the same level as seen last year, depending on the size segment.12

containership fleet currently has a capacity of 33.4m TEU, while the orderbook comprises 12.6m TEU, representing an orderbook-to-fleet ratio of 38%. A combination of strong newbuild deliveries (297k TEU in the first quarter) and limited to no demolition activity (9k TEU during the first quarter) let the containership fleet grow by another 2% in the first quarter.14

Provided the prevailing favorable market conditions endure and charter rates stay elevated, shipowners have limited motivation to retire aging, lower-efficiency vessels. The demolition outlook remains subdued throughout 2026, with only 198k TEU projected

for recycling, and any meaningful uptick in scrapping activity is not anticipated before 2027.15

35

38%

31%

30%

24%

33.1M TEU

20%

8%

11.5M TEU

30

25

20

15

10

5

2010

2011

2012

2013

2014

2015

0

40

35

30

25

20

15

10

5

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

0

Orderbook-to-Fleet Ratio (RHS)

The newbuilding market was very active in the first quarter with 182 (1m TEU) confirmed orders. Feeder and mid-size vessels accounted for the largest share of newbuilding orders in the first quarter. LNG capability played a role in newbuilding ordering during the first quarter of 2026. Nonetheless, around 75% of

all contracted newbuilding orders were for conventional fueled vessels. Newbuilding prices stayed at elevated levels. The Clarksons' Newbuilding Price Index remained at the same level in the first quarter of 2026 as it was at the end of the fourth quarter of 2025.13

11 Clarksons Research, Shipping Intelligence Network, May 2026.

12 Maritime Strategies International, Horizon, May 2026.

13 Clarksons Research, Shipping Intelligence Network, May 2026.

14 Clarksons Research, Shipping Intelligence Network, May 2026.

15 Maritime International Strategies, Horizon, May 2026.

16 Clarksons Research, Shipping Intelligence Network, May 2026.

Figure 5 shows the relationship between the orderbook and the aging fleet in individual size segments. Although the overall orderbook-to-fleet ratio stands at 38%, the orderbook ratios for smaller feeder vessels and Panamax/Post-Panamax vessels

remain significantly lower. In addition, there is still a great need for modernization of this sector, as the proportion of the fleet that is 20 years or older exceeds 20%.16

Robust newbuilding output and persistent ordering activity continue to drive container shipping supply. Net fleet growth is estimated

at 4.2% in 2026 and is set to climb to 7.2% in 2027 as a wave of newbuild deliveries enters the market (Figure 6). Demand growth, measured by container trade volumes, is projected to remain more

FIG. 5: ORDERBOOK ACROSS SIZE SEGMENTS COMPARED TO FLEET AGE

% (OB/fleet)

>17k TEU

High OB/fleet, relatively young fleet

12-17k TEU

8-12k TEU

Low OB/fleet, relatively old fleet

3-6k TEU

1-3k TEU

6-8k TEU

100

90

80

70

60

50

40

30

20

10

0

0 5 10 15 20 25 30 35 40

% (20+ years)

‌13 Container Market Update CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

FIG. 6: FUNDAMENTAL SUPPLY/DEMAND BALANCE -

ACCOUNTING FOR CANCELLATIONS, SLIPPAGE, DELIVERIES AND DEMOLITIONS

-1.9

-1.9

0.0

3.2

3.3

3.0

3.8

4.5

2.1

3.3

5.5

3.5

4.2 4.0

6.6

4.1

4.0

5.8

7.2

7.4

8.3

9.2

3.7

1.9

5.5

6.3

1.3

8.3

3.0

1.2

5.4

6.0

1.3

% 10

8

6

4

2

0

-2

-4 2019

2020

2021

2022

2023

10.4

2024

2025

2026

(f)

2027

(f)

2028

(f)

2029

(f)

2030

(f)

For container shipping markets, where asset prices and time-charter rates remained at strong levels in the first quarter of 2026, two key risks exist going forward. The first risk is that longer lasting energy market disruptions could trigger higher inflation and a deceleration of GDP growth - which would weigh on the demand side of physical container transportation and potentially also unwind some of the tied-up vessel capacity. This is because a slowdown in box trade demand would reduce pressure on maritime supply chains and thus ease congestion or bottlenecks, which are currently tying up vessel capacity.

The other risk is that the Red Sea could be reopened, once the key conflicts in the Middle East are resolved. An unwinding of the

Supply Growth (Net Fleet Growth) Demand Growth (Container Trade Growth)

restrained at 3.0% in 2026, with only a modest improvement to 3.3% anticipated in 2027.17

Nevertheless, various factors influence the supply and demand market balance such as congestion at ports and the resulting absorption of transport capacity, or more TEU-miles due to rerouting.

17 Maritime International Strategies, Horizon, May 2026.

diversion via the Cape of Good Hope would drastically change the market fundamentals, as the ~11% increase in average transport distances in container traffic would be negated, while the fleet is continuing to expand - albeit modestly during 2026. Currently, it can however not be ruled out that even if and when the United States and Iran come to an agreement to end hostilities, Israel might continue to attack Hezbollah - which could provide the Houthi with a reason to engage merchant ships in the Red Sea.

Ongoing trade tensions and protectionist measures, including US tariff uncertainty, are also doing their part to influence global supply chains and change global trade patterns in maritime container transport. Nevertheless, the current energy market disruption and the status of Red Sea traffic remain the two key risk factors.

‌14 Forward-Looking Statements CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

FORWARD-LOOKING STATEMENTS

The forward-looking statements presented in this report are based on various assumptions. These assumptions are subject to uncertainties and contingencies that are difficult or impossible to predict. MPC Container Ships ASA cannot give assurances that expectations regarding the outlook will be achieved or accomplished.

Oslo, May 26, 2026

The Board of Directors and CEO of MPC Container Ships ASA

Ulf Stephan Holländer (sign)

Chairman of the board

Ellen Merete Hanetho (sign)

Member of the board

Peter Frederiksen (sign) Member of the board

Pia Meling (sign)

Member of the board

Petros Panagiotidis (sign)

Member of the board

Constantin Baack (sign) CEO

‌15 Financials | Consolidated Interim Financial Statements CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

CONSOLIDATED INTERIM FINANCIAL STATEMENTS

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‌16 Financials | Consolidated Interim Financial Statements CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

Condensed Consolidated Statement of Profit or Loss

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Financial Report Q1 2026

‌17 Financials | Consolidated Interim Financial Statements CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

Consolidated Statement of Comprehensive Income

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Financial Report Q1 2026

‌18 Financials | Consolidated Interim Financial Statements CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

Consolidated Statement of Financial Position

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Financial Report Q1 2026

‌19 Financials | Consolidated Interim Financial Statements CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

Consolidated Statement of Changes in Equity

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Financial Report Q1 2026

‌20 Financials | Consolidated Interim Financial Statements CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

Statement of Cashflow

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Financial Report Q1 2026

‌21 Financials | Notes CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

Notes

MPC Container Ships ASA (the "Company") is a public limited liability company (Norwegian: allmennaksjeselskap) incorporated and domiciled in Norway, with its registered address at Ruseløkkveien 34, 0251 Oslo, Norway, and Norwegian registered enterprise number 918 494 316.The Company was incorporated on January 9, 2017 and commenced operations in April

2017 when the first vessels were acquired. These consolidated financial statements comprise the Company and its subsidiaries (together referred to as the "Group"). The principal activity of the Group is to invest in and to operate maritime assets in the container shipping segment.

The shares of the Company are listed on the Oslo Stock Exchange under the ticker "MPCC".

The Group's financial reporting is in accordance with IFRS ® Accounting Standards as adopted by the European Union (EU) .and with IFRS Accounting Standards as issued by the International Accounting Standards Board (IASB). The unaudited interim financial statements for the period ending March

31, 2026, have been prepared in accordance with IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board (IASB) and as adopted by EU. The statements have not been subjected to audit.

The statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group's annual financial statements as at December 31, 2025. The consolidated financial statements are presented in USD thousand unless otherwise stated.

The accounting policies adopted in preparing the condensed consolidated interim financial reporting are consistent with those applied in the preparation of the Group's consolidated financial statements for the period ended December 31, 2025. No new standards were effective as at January 1, 2026 with a significant impact on the Group.

All of the Group's vessels earn revenue from a single market, which is seaborne container transportation. The vessels exhibit similar economic, trading and financial characteristics. The Group is organized in one reportable operating segment, i.e. the container shipping segment. The Groups vessels operate globally and therefore management does not evaluate performance by geographical region, and is therefore considered to be only one operating segment.

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Financial Report Q1 2026

‌22 Financials | Notes CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

The Group's time charter contracts are divided into a lease element and a service element. The lease element of the vessel represents the use of the vessel without any associated performance obligations and is accounted for in

accordance with the lease standard IFRS 16. Revenues from time charter services (service element) and other revenue (e.g., bunkers and other services) are accounted for in accordance with IFRS 15. The Group's performance obligation

is to provide time charter services to its charterers. When a time charter contract is linked to an index, we recognize revenue for the applicable period based on the actual index for that period. In the first three months of 2026 no vessels were index-linked (Q1 2025: eight) and 17 vessels were on a variable rate time charter (Q1 2025: eight).

In February 2026, the Group entered into a 50/50 joint venture with Uthalden AS through AS HM Shipping Company GmbH & Co. KG in relation to the 4,500 TEU newbuilding vessels AS Maike and AS Marthe. The retained 50% interest is accounted for as an investment in joint venture using the equity method. Prior to the transaction, the Group had capitalized USD 17.1 million in respect of the two newbuilding vessels. Upon establishment of the joint venture, this

amount was derecognized from newbuildings, and the Group recognized its retained 50% interest of USD 8.6 million as an investment in joint venture.

As at March 31, 2026, the carrying amount of the investment in joint venture relating to Uthalden AS amounted to USD 8.6 million. The joint venture has total remaining capital commitments of USD 46.4 million, of which USD 23.2 million belongs to the Group's portion of the commitment.

In 2022, the Group entered into an agreement with INERATEC for the supply of synthetic Marine Diesel Oil (MOO) made from biogenic CO2 and renewable hydrogen. The Group owns 24.5% of Siemssen KG, which holds an investment in INERATEC. As at March 31, 2026, the Group's investment in Siemssen KG amounted to USD 1.2 million. The investment is accounted for by the equity method.

Other revenue relates to reimbursements of bunkers and other services, including amortization of the acquired value of time charter contracts.

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Financial Report Q1 2026

‌23 Financials | Notes CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

‌IN USD THOUSANDS VESSELS

Cost:

NEWBUILDINGS,

ADDITIONS

TOTAL VESSELS AND NEWBUILDINGS

In January 2026, the Group agreed to sell a wholly-owned 2006-built vessel, AS Clementina, to an unrelated party for USD 24.0 million. The planned delivery shall take place around June 2026, upon the completion of its current charter.

December 31, 2025 (audited) 1,371,492 57,774 1,429,266

Acquisitions of vessels - - -

Acquisitions of companies - - -

At each reporting date, the Group evaluates whether there is an indication that an asset may be impaired. If such

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Financial Report Q1 2026

‌24 Financials | Notes CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

As at March 31, 2026, the Group's newbuilding program consisted of a total 15 newbuildings with expected deliveries between 2026 to 2029. In February 2026, the Group entered into a 50/50 joint venture with Uthalden AS for two 4,500 TEU newbuilding vessels, AS Maike and AS Marthe. As a result, USD 17.1 million of previously capitalized newbuilding costs was derecognized from newbuildings due to the joint venture arrangement. Following the transaction, the

two vessels are held through a joint venture and are therefore not included in the carrying amount of newbuildings presented in this note. Accordingly, the balance presented below relates to the Group's 15 directly controlled newbuildings.

As at March 31, 2026, the carrying amount of the Group's directly controlled newbuilding program was USD 112.9 million, including capitalized borrowing costs of USD 2.7 million. During the quarter the Group paid USD 71.1 million in yard installments under the newbuilding program.

The remaining commitments as at March 31, 2026 was USD 633.7 million of which USD 75.4 million are due in 2026, USD 180.0 million due in 2027, USD 295.4 million due in 2028 and USD 82.9 million due in 2029.

As at March 31, 2026, the Group had cash and cash equivalents of USD 269.3 million (USD 354.9 million as at December 31, 2025), including restricted cash balances of USD 8.9 million (USD 9.5 million as at December 31, 2025). The Group's loan agreement contains financial covenants which require the Group to maintain a certain level of free cash, and a value-adjusted equity covenant. The Group complies with such financial covenants as at March 31, 2026.

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Financial Report Q1 2026

‌25 Financials | Notes CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

The following table shows the total amount of service transactions that have been entered into with related parties in first three-months period of 2026:

Amounts due to or from related companies represent net disbursements and collections made on behalf of the vessel-owning companies by the Group during the normal course of operations for which a right of offset exists. As at March 31, 2026, and December 31, 2025, the amount due to related companies was USD 0.11 million and USD 0.1 million

respectively. All related party transactions are carried out at market terms. Please see the Group's 2025 Annual Report for additional details.

The following table represents the Group's financial assets and financial liabilities measured and recognized at fair value as at March 31, 2026, and December 31, 2025. The estimated fair value of the financial instruments has been determined using appropriate market information and valuation techniques.

The carrying amount of cash and cash equivalents, trade and other receivables, trade and other payables, and other liabilities are a reasonable estimate of their fair value, due to their short maturity.

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Financial Report Q1 2026

‌26 Financials | Notes CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

As at March 31, 2026 the Group has six interest rate caps.

The table below shows the notional amounts of current and future anticipated interest-bearing debt under existing debt facilities hedged by interest-rate caps:

The share capital of the Company consisted of 443,700,279 shares as at March 31, 2026. The nominal value per share is NOK 1.00. All issued shares shown in the table below carry equal rights and are fully paid up.

In the first quarter of 2026, the Group distributed dividends for a total of USD 22.2 million, which also includes distributions to non-controlling interests of USD 0.1 million. The dividend was distributed from the retained earnings.

The Group entered into various FX Swaps and Forwards which are measured at fair value via profit and loss. In the first three-month period, the group recorded net gain of USD 0.3 million for the changes in fair value of the FX Swaps.

The Group invested USD 85.0 million in six-month fixed-rate bank deposits, which are presented under other current financial assets as at March 31, 2026.

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Financial Report Q1 2026

‌27 Financials | Notes CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS‌

In April 2026, the Group agreed to sell a wholly-owned 2008-built vessel, AS Alva, to an unrelated party for USD 22.3 million.

In April 2026, the Group entered into pre-hedging arrangements with several financial institutions . The hedging transaction comprises a USD SOFR-linked interest rate swap with an effective date of October 29, 2027 and a termination date of July, 31 2039, intended to mitigate exposure to floating interest rate risk associated with the underlying long-term debt financing.

AS Felicia, a wholly-owned 2006-built vessel, which was agreed to sell in 2025 for USD 12.3 million is expected to be delivered to its new owner in May 2026.

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Financial Report Q1 2026

‌28 Financials | Alternative Performance Measures CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

ALTERNATIVE PERFORMANCE MEASURES

The Group's financial information is prepared in accordance with the International Financial Reporting Standards (IFRS). In addition, it is the management's intention to provide alternative performance measures that are regularly reviewed by management to enhance the understanding of the Group's performance but are not intended as a replacement of the financial statements prepared in accordance with the IFRS. The alternative performance measures presented

may be determined or calculated differently by other companies. The alternative performance measures are intended to enhance comparability of the results and to give supplemental information to the users of the Group's external reporting. Refer to our website for the rationale of each APM.

Earnings before interest, tax, depreciation and amortization (EBITDA). Derived directly from the income statement by adding back depreciation to the operating result ("EBIT").

EBITDA excluding one-time, irregular, and non-recurring items, such as gain (loss) from vessel sales.

Profit (loss) for the period excluding one-time, irregular, and non-recurring items, such as gain (loss) from vessel sales and depreciation of acquired TC contracts.

Adjusted EPS is derived from the adjusted profit (loss) divided by the number of shares outstanding at the end of the period.

The time charter equivalent represents time charter revenue and pool revenue divided by the number of trading days for the consolidated vessels during the reporting period. Trading days are ownership days minus days without revenue, including commercial, uninsured technical and dry-dock related off-hire days.

‌29 Financials | Alternative Performance Measures CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

Adjusted average TCE is the average TCE for the period excluding one-time, irregular, and non-recurring items, such as gain (loss) from sale of vessels.

Adjusted average OPEX per day is calculated as operating expenses excluding tonnage taxes and operating expenses reimbursed by the charterers divided by the number of ownership days for consolidated vessels during the reporting period.

Interest-bearing long-term debt and interest-bearing short-term debt divided by total assets.

The equity ratio is calculated by dividing total equity by the total assets.

‌30 Financials | Alternative Performance Measures CONTENTS ▪ HIGHLIGHTS KEY FIGURES LETTER TO SHAREHOLDERS FINANCIAL REVIEW CONTAINER MARKET UPDATE FORWARD-LOOKING STATEMENTS FINANCIALS

Calculated as cash and cash equivalent and liquid short-term investments readily converable into cash within twelve monthsless borrowings (current and non-current). The measure may exclude lease liabilities (current and non-current) or include them.

‌MPC Container Ships ASA Ruseløkkveien 34, 0251 Oslo PO Box 1251 Vika

NO-0111 Oslo, Norway

Registered enterprise no. 918 494 316

https://www.mpc-container.com

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