Slide 1: Investor Presentation Q2 2026 Results
Investor Presentation Q2 2026 Results Hamburg, August 13, 2026 AUG 2026
Slide 2: First half 2026 key developments
First half 2026 key developments After an unsatisfactory start to the year, operational and financial performance improved clearly INVESTOR PRESENTATION The Middle East conflict caused severe operational disruptions in the second quarter, resulting in substantial additional cash costs of USD 600m Ou
Slide 3: Market fundamentals improved in Q2 despite weaker Middle East volumes
Market fundamentals improved in Q2 despite weaker Middle East volumes, supported by strong growth on dominant trades 1 HIGHLIGHTS Global container volumes [TEU m] Global volumes per trade [TEU m] H1/26 H1 2025 H1 2026 16% 14% 13% Q2/26 INVESTOR PRESENTATION 94 TEU m +5.2% 98 TEU m 11% 11% 18 6% 7% 4
Slide 4: Middle East conflict continues to disrupt operations and drive transport costs
Middle East conflict continues to disrupt operations and drive transport costs – Gemini reliability back at 90% 1 HIGHLIGHTS Middle East landbridge Network schedule reliability 100% Gemini Cooperation Competitor Range INVESTOR PRESENTATION 90% 80% 70% 60% 50% Feb- Mar- Apr- May- Jun- Jul- Aug- Sep-
Slide 5: Hanseatic Global Terminals continued to grow its terminal portfolio
Hanseatic Global Terminals continued to grow its terminal portfolio 1 HIGHLIGHTS Completed terminal investments in H1 2026 J M Baxi, India Damietta, Egypt HGT Aracruz, Brazil INVESTOR PRESENTATION Terminal Capacity Terminal Capacity 5 container terminals 51% ~3.3 m TEU p.a. 39% ~1.2 m TEU p.a. 50% C
Slide 6: ZIM transaction: merger agreement approved by ZIM Shareholders
ZIM transaction: merger agreement approved by ZIM Shareholders – regulatory approval process is ongoing 1 HIGHLIGHTS Deal Summary Timeline INVESTOR PRESENTATION Acquisition: 16 February 30 April 100% of ZIM for USD 35.00 per share Financing: Signing ZIM Extraordinary Available liquidity + bridge loa
Slide 7: Group: Q2 2026 Group Key Figures
Group Clear improvement in operational and financial performance after a weak start to the year 2 FINANCIALS Q2 2026 Group Key Figures Liner Shipping Terminal & Infrastructure INVESTOR PRESENTATION Transport Volume Throughput 3.5 M TEU 3.6 M TEU PY: 3.4 M TEU PY: 3.3 M TEU Revenue EBITDA EBIT USD 5.
Slide 8: Recovery of earnings in the second quarter due to improved market conditions
Group Recovery of earnings in the second quarter due to improved market conditions in the Liner Shipping business 2 FINANCIALS Revenue [USD m] EBITDA [USD m] +19% 15.6% Margin 10.0% 14.2% INVESTOR PRESENTATION 5,840 +68% 5,272 4,918 829 820 494 Q2 2025 Q1 2026 Q2 2026 Q2 2025 Q1 2026 Q2 2026 EBIT 1
Slide 9: Liner Shipping recorded an EBIT of USD 153m in Q2 2026
Liner Shipping Liner Shipping recorded an EBIT of USD 153m in Q2 2026 2 FINANCIALS Liner Shipping INVESTOR PRESENTATION ▪ Following an unsatisfactory start to the year, Q2 2025 Q2 2026 H1 2025 H1 2026 revenue and earnings improved clearly in the Revenue 5,166 5,682 10,386 10,461 second quarter, driv
Slide 10: Freight rates and transport volumes improved clearly in Q2 2026
Liner Shipping Freight rates and transport volumes improved clearly in Q2 2026 2 FINANCIALS Freight rate development 1 [USD/TEU] Transport volume development by trade 1,2 [TTEU] H1 2025 H1 2026 H1 2025 H1 2026 INVESTOR PRESENTATION 1,411 -0.4% 1,406 6.6 TEU m +1.5% 6.7 TEU m +8.9% +10.9% +3.5% +8.7%
Slide 11: Unit cost impacted by higher bunker prices and Middle East disruptions
Liner Shipping Unit cost impacted by higher bunker prices and Middle East disruptions 2 FINANCIALS Unit cost development [USD/TEU] Bunker price [USD/mt] Volume 800 3.4 3.2 3.5 MFO LS 0.5 ROT (monthly avg.) INVESTOR PRESENTATION [TEU m] 750 700 HL Bunker Consumption Price (quarterly) 700 +7% +2% 650
Slide 12: Terminal & Infrastructure maintained its positive momentum
Terminal & Infrastructure Terminal & Infrastructure maintained its positive momentum 2 FINANCIALS Terminal & Infrastructure INVESTOR PRESENTATION Throughput Q2 2025 Q2 2026 H1 2025 H1 2026 ▪ Strong revenue growth driven by full [M TEU] 3.3 3.6 6.4 7.0 consolidation of J M Baxi and good throughput gr
Slide 13: Free cash flow of USD 1.0bn remained strong
Group Free cash flow of USD 1.0bn remained strong supported by lower investment spending, despite a temporary working capital headwind 2 FINANCIALS Cash flow H1 2026 [USD m] Operating Investing Financing INVESTOR PRESENTATION cash flow cash flow cash flow 849 135 -1,914 7,026 725 5,909 725 RCF 2,215
Slide 14: Robust balance sheet with low leverage and high Liquidity Reserve
Group Robust balance sheet with low leverage and high Liquidity Reserve 2 FINANCIALS Equity [USD m] Net Debt [USD m] 62% 61% Equity ratio 0.3x 0.7x Leverage 1 INVESTOR PRESENTATION 1,969 21,147 20,678 1,209 31 Dec 2025 30 Jun 2026 31 Dec 2025 30 Jun 2026 Liquidity Reserve [USD m] Financial debt prof
Slide 15: Constructive market outlook for 2026, supported by robust demand growth
Constructive market outlook for 2026, supported by robust demand growth 3 MARKET Supply and demand [growth YoY] US inventory to sales ratios Dominant leg 1.8 Total H1 2023 +25% H1 2026 volume growth INVESTOR PRESENTATION 1.7 Retail 11% Merchant Wholesalers Container volume growth 1.6 10% Volume grow
Slide 16: Earnings outlook raised in July on the back of recent strength in spot freight rates
Earnings outlook raised in July on the back of recent strength in spot freight rates and resilient demand 4 OUTLOOK Earnings outlook [Updated July 13, 2026] Key assumptions INVESTOR PRESENTATION ▪ Recent spot freight rate FY 2026 FY 2026 developments indicate improved FY 2025 Previous Outlook Update
Slide 17: Wrap up and priorities for 2026
Wrap up and priorities for 2026 ▪ Following a challenging start to the year, volumes and financial performance improved clearly in Q2 INVESTOR PRESENTATION ▪ Gemini has proven highly resilient, delivering industry- leading schedule reliability even under challenging conditions ▪ While network operat
Slide 18: Appendix
Appendix
Slide 19: Equity ratio of 60.8%
Equity ratio of 60.8% APPENDIX Balance Sheet [USD m] Financial Position [USD m] million USD 30.6.2026 31.12.2025 million USD 30.6.2026 31.12.2025 INVESTOR PRESENTATION Assets Financial debt and lease liabilities 7,153 7,509 Non-current assets 24,177 24,068 Cash and cash equivalents 3,150 4,085 of wh
Slide 20: EBITDA of USD 1.3bn in H1 2026
EBITDA of USD 1.3bn in H1 2026 APPENDIX Income Statement [USD m] million USD Q2 2026 Q2 2025 change H1 2026 H1 2025 Change INVESTOR PRESENTATION Revenue 5,840 5,272 11% 10,759 10,590 2% Transport and terminal expenses –4,448 –3,965 12% –8,408 –7,741 9% Personnel expenses –371 –328 13% –684 –618 11%
Slide 21: Well balanced maturity structure of financial liabilities
Well balanced maturity structure of financial liabilities APPENDIX Financial Debt Profile as per 30 June 2026 1 [USD m] INVESTOR PRESENTATION Facility 30 June 2026 [USD m] 2,170 Vessel Financings 2,109 Container Financings 411 Total Vessel & Container 2,520 733 1,618 EUR Bond 2024 342 288 Total Bond
Slide 22: Disclaimer
Disclaimer APPENDIX Forward-looking statements INVESTOR PRESENTATION This presentation contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significan
Slide 23: Hapag-Lloyd Investor Relations
Hapag-Lloyd Investor Relations Ballindamm 25 20095 Hamburg Tel.: +49 (40) 3001-3705 ir@hlag.com All publication documents can be found here: https://www.hapag-lloyd.com/en/ir.html