Euroseas Ltd. · NASDAQ:ESEA
Euroseas — Q2 2026 Earnings Presentation
23 slides from Euroseas's earnings presentation, Aug 13, 2026
Slide 1: Earnings Presentation Quarter Ended June 30, 2026
Earnings Presentation Quarter Ended June 30, 2026 August 13, 2026 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements in this presentation may be "forward-looking statements" within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may re
Slide 3: 2026 Q2 Financial Highlights
2026 Q2 Financial Highlights Financial Results in million USD except per share figures Q2 2026 Net Revenues 56.50 Net income attributable to controlling 33.22 4.74/ share(2) shareholders (1) (2) Adj. Net Income 32.92 4.70/ share Adj. EBITDA(1) 40.13 Dividend Declaration Repurchase Program ▪ Declared
Slide 4: Recent Developments, S&P, Chartering & Operational Highlights
Recent Developments, S&P, Chartering & Operational Highlights ▪ Ordered additional 2 x 1,800 TEU Newbuildings ‒ Signed an agreement for the construction of two additional 1,800 TEU reefer containerships with Nantong CIMC S&P Sinopacific Offshore & Engineering Co., Ltd in China with deliveries in Dec
Slide 5: Current Fleet Profile
Current Fleet Profile Current fleet consists of 21 vessels with an average age of 13.1(1) years and a carrying capacity of 61.1k TEU. Twelve additional vessels, ranging from 1,781 TEU to 4,484 TEU, are expected to be delivered between Q3 2027 and Q1 2029. Name Type Size (DWT) Size (TEU) Year Built/D
Slide 6: Vessel Employment
Vessel Employment Our chartering strategy ensures significant contracted cash flow through 2027 extending beyond 2028 2026 2027 2028 Jan Feb Mar Apr May June Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May June Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May June Jul Aug Sep Oct Nov Dec Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 7: Market Overview
Market Overview 4 EUROSEAS 1p
Slide 8: Containership Market Highlights – Q2 2026
Containership Market Highlights – Q2 2026 ▪ In Q2 2026, container shipping markets continued to strengthen into June, driven by robust mainlane demand and disruptions linked to the Middle East conflict. Charter rates edged higher, reaching their highest level outside the Covid-19 period, while freig
Slide 9: Last 10 Year 6-12 Month TC Rates ($/day)
$/ day $/ day 20,000 40,000 60,000 80,000 0 100,000 120,000 10,000 20,000 30,000 40,000 50,000 60,000 70,000 0 Jan 16 Jan 16 Jun 16 Jun 16 Nov 16 Nov 16 Apr 17 Apr 17 Sep 17 Sep 17 $18,188 $29,283 $18,506 $11,721 Feb 18 Feb 18 Jul 18 Jul 18 Dec 18 Dec 18 1,700 TEU grd 6-12 Month 3,500 TEU gls 6-12 M
Slide 10: World GDP & Shipping Demand Growth
World GDP & Shipping Demand Growth Real GDP (% p.a. - IMF) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026p 2027p USA 2.9 1.8 2.5 3.0 2.6 -2.1 6.2 2.5 2.9(2.5) 2.8(2.8) 2.1(2.1) 2.3(2.3) 2.2(2.1) Eurozone 2.1 1.8 2.6 1.8 1.6 -6.0 6.4 3.6 0.4(0.5) 1.0(0.8) 1.4(1.4) 0.9(1.1) 1.2(1.2) Japan
Slide 11: Age Profile and Orderbook
Age Profile and Orderbook Age Profile Containership Orderbook(1) 29% 16% 20% 20% 15% 10.0 For delivery in 26/27/28+ (as of Jul-26) 24.2% 11.0 ▪ 8000+: 45 / 158 / 499 9.0 ▪ 3-7,999: 40 / 143 / 301 9.0 1.7 8.0 ▪ 100-2,999: 101 / 223 / 251 7.0 7.0 0.1 1.0 6.0 mTEU mTEU 5.0 5.3 2.6 5.0 2.1 0.9 10.8% 9.4
Slide 12: Fleet Age Profile and Orderbook, 1,000-3,000 TEU
Fleet Age Profile and Orderbook, 1,000-3,000 TEU Age Profile Containership Orderbook(1) 0.5 1.8 22% 15% 9% 24% 30% 8.1% 1.6 0.4 1.4 7.8% 6.8% 1.2 0.8 0.3 0.5 mTEU 1.0 mTEU 0.5 0.8 0.2 3.1% 0.6 0.4 0.5 2.4% 0.6 0.4 0.7 0.1 0.1 0.4 0.3 0.2 0.3 0.2 0.0 0.1 0.1 0.1 0.0 0-4 5-9 10-14 15-19 20+ 2020 2021
Slide 13: Fleet Age Profile and Orderbook, 3,000-7,999 TEU
Fleet Age Profile and Orderbook, 3,000-7,999 TEU Age Profile Containership Orderbook(1) 18% 2% 14% 36% 30% 1.5 15.9% 3.0 1.4 1.3 2.5 1.2 0.9 1.1 0.7 1.0 2.0 0.9 mTEU 0.8 9.9% mTEU 1.5 7.8% 0.7 0.6 1.0 0.7 0.2 2.0 0.5 1.7 0.4 3.8% 0.3 2.3% 0.5 0.9 0.2 0.7 0.0 0.1 0.0 0.1 0.0 0-4 5-9 10-14 15-19 20+ 2
Slide 14: Different Supply Outlook for Feeders & Intermediate Containerships
Different Supply Outlook for Feeders & Intermediate Containerships ▪ Orderbook primarily concentrated on large containerships ‒ Capacity growth will be significant in the larger vessel sizes employed in the main lane routes between main hubs ‒ Regional distribution is done by “feeders”: the more mai
Slide 15: Outlook Summary
Outlook Summary ▪ Container shipping markets continued to gain momentum through July, supported by robust demand on the main east- west trade lanes and ongoing disruption stemming from the conflict in the Middle East. ‒ Charter rates edged higher as strong demand and tightening vessel availability p
Slide 16: Market Evolution
Market Evolution Cont 2,500 TEU One-Year Time Charter Rate Cont 2,500 TEU – NB & 10 Year Old Price 90,000 60 80,000 50 70,000 As of Aug 07, 2026, 1YR TC rate for 2,500 TEU vessel stands at $38,250/day 40 60,000 50,000 30 mm USD $/ day 40,000 20 30,000 20,000 10 10,000 0 2017 2018 2019 2020 2022 2023
Slide 17: Financial Overview
Financial Overview 4 EUROSEAS 1p
Slide 18: Financial Highlights: Q2 and H1 of 2025 and 2026
Financial Highlights: Q2 and H1 of 2025 and 2026 Second Quarter Six Months (in million USD except per share amounts) 2025 2026 Change(%) 2025 2026 Change(%) Net Revenues 57.23 56.50 (1.3%) 113.58 112.34 (1.1%) Net Income / (Loss) Attributable to 29.86 33.22 11.2% 66.78 65.74 (1.6%) Controlling Share
Slide 19: Fleet Data: Q2 and H1 of 2025 and 2026
Fleet Data: Q2 and H1 of 2025 and 2026 Q2 6M 2025 2026 2025 2026 Fleet (#) Number of Vessels 22.00 21.00 22.83 21.00 Utilization Operational 99.9% 99.9% 99.6% 100.0% (1) Commercial 100.0% 100.0% 100.0% 100.0% Rate (%) Overall 99.9% 99.9% 99.6% 100.0% TCE ($/day/vessel) Time Charter Equivalent (2) $2
Slide 20: Contract Coverage: A Forward Look
Contract Coverage: A Forward Look 2026 2027 2028 Average # of Vessels 20.8 20.6 24.9 Calendar Days 7,595 7,531 9,083 Available Days 7,464 7,444 9,068 Voyage Days 7,393 7,298 8,877 Total Utilization Rate 99% 98% 98% Contracted Days 7,165 6,054 4,244 Contract Coverage 96% 81% 47% Average Contracted Ra
Slide 21: Debt Repayment Profile
Debt Repayment Profile Debt Repayment Profile 50.0 $30.0m (2 vessels) $20.0m (4 vessels) $26.4m (2 vessels) 40.0 Cost of Funding: ▪ As of June 30, 2026, outstanding bank debt is 30.0 20.00 30.00 $208.1m with average margin of about 2.01%; $m 26.40 assuming 3M SOFR(1) of 3.76%, our cost of senior deb
Slide 22: Balance Sheet Highlights
Balance Sheet Highlights Capital Structure June 2026 ($m) Notes 800 Assets ▪ Cash & Other current assets: $226.0m 700 ▪ Advances for NB vessels: $73.9m Cash & Other Assets ▪ Vessels book value: $453.1m 600 ▪ Total assets (at book value): $753.0m 500 Advances for Liabilities Net Book Value NB vessels
Slide 23: Euroseas Contacts
Euroseas Contacts Euroseas Ltd. c/o Eurobulk Ltd 4, Messogiou & Evropis Street 151 24 Maroussi, Greece www.euroseas.gr euroseas@euroseas.gr Tel. +30-211-1804005 Fax.+30-211-1804097 Tasos Aslidis Nicolas Bornozis / Markella Kara Chief Financial Officer Investor Relations Euroseas Ltd. Capital Link, I