Dht Holdings, Inc. · NYSE:DHT
Dht — Q1 2026 Earnings Presentation
14 slides from Dht's earnings presentation, May 6, 2026
Slide 1: First Quarter 2026 Results
FIRST QUARTER 2026 RESULTS ai May 6, 2026 DHT LEOPARD MAJURO
Slide 2: Disclaimer
DISCLAIMER Forward Looking Statements This presentation contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events, in particul
Slide 3: P&L Highlights
Q1’26 Financials P&L HIGHLIGHTS Q1'26 $ Thousands, except per share Average TCE Q1 2026 Revenues on TCE basis $ 157,203 $78,800/d Fleet average Vessel operating expenses $ (19,126) $91,700/d Spot $61,300/d Time-charter G&A $ (4,957) Adj. EBITDA $ 133,312 Interest expenses $ (4,424) Gain/(loss)
Slide 4: Balance Sheet Highlights
Q1’26 Financials BALANCE SHEET HIGHLIGHTS $ Thousands As per 31.03.2026 Total liquidity of $356 million Cash $ 126,246 Cash $126.2 million Other current assets $ 124,087 RCF availability $229.8 million Vessels* $ 1,469,732 • Currently available RCF $285.8 million Advances for vessels under const
Slide 5: Q1 2026 Cash Flow Highlights
Q1’26 Financials Q1 2026 CASH FLOW HIGHLIGHTS Cash Bridge Q1 2026 $m 350 325 91.5 -160.0 101.0 -66.0 300 275 250 -2.8 225 133.3 -14.6 -5.2 200 175 -29.8 150 - 0.1 125 227.5 224.6 224.6 100 197.7 192.5 192.5 156.1 75 126.3 126.2 126.2 50 79.0 79.0 25 0 31/12/25 Cash EBITDA Debt Cash interest Proceeds
Slide 6: Quarterly Highlights
Business Update QUARTERLY HIGHLIGHTS Well timed delivery of the first three newbuildings DHT Antelope delivered on January 2, 2026 DHT Addax delivered on March 6, 2026 DHT Gazelle delivered on March 30, 2026 DHT China and DHT Europe, both built 2007, sold and delivered to their new owners DHT
Slide 7: Quarterly Highlights
Business Update QUARTERLY HIGHLIGHTS Time charter extension and new time charter contracts: DHT Harrier, built in 2016, extended existing time charter for five years from January 2026 at $47,500 with two optional years at $49,000 and $50,000 DHT Opal, built in 2012, one-year time charter at $90,
Slide 8: Capital Allocation
Q1’26 Financials CAPITAL ALLOCATION Cash dividend of $0.64 per share Equals capital allocation policy: 100% of ordinary net income The 65th consecutive quarterly cash dividend The shares will trade ex-dividend May 21, 2026 Payable May 28 to shareholders of record May 21 P&L and cash breakeve
Slide 9: Q2 Outlook
Business Update Q2 OUTLOOK Estimated Q2 2026 Total term time-charter days 997 Average term time-charter rate ($/day)* $73,900 Total spot days for the quarter 1,025 Spot days booked to date / % of total spot days 905 / 88% Average spot rate booked to date ($/d) $168,300 Spot P&L break-even for the qu
Slide 10: 2026 Drydock Schedule
Business Update 2026 DRYDOCK SCHEDULE 7 vessels scheduled for drydock during 2026 DHT Lion completed 2nd SS/DD in Q1 DHT Osprey, DHT Panther, DHT Puma and DHT Harrier, 2nd SS/DD DHT Amazon and DHT Redwood, 3rd SS/DD May 6, 2026 10
Slide 11: Current Market Pillars
Market Outlook CURRENT MARKET PILLARS The VLCC market maintains its strength, supported by the following primary drivers: Basic Supply-Demand Fundamentals: • The balance continues to support freight rates, as evidenced from the second half of 2025 Strategic Fleet Consolidation: • Enhanced market
Slide 12: Future Catalysts
Market Outlook FUTURE CATALYSTS Several emerging trends warrant specific attention - expected to provide tailwinds: Sanction Relief and Trade Normalization: • Potential sanction relief on Venezuelan and Iranian crude exports would likely transition these volumes from the "shadow fleet" to complian
Slide 13: Strategic Positioning
Market Outlook STRATEGIC POSITIONING Consistent with outlook provided in our previous reports: End-users are increasingly seeking to secure vessel capacity in response to tightening trends Strategic increase in our market exposure for the first half of the year to capture the market development
Slide 14: Q&A
Q&A May 6, 2026 14