Slide 1: Q1 & 3M 2026 Financial & Operating Results
Q1 & 3M 2026 Financial & Operating Results May 18, 2026 C3is Inc. 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deeme
Slide 3: C3is Inc. Highlights
C3is Inc. Highlights • Adjusted Net Income of $5.5 million for Q1 2026, compared to $1 million in 2025, an increase of 358%. AFRAPEARL II QUARTERLY TCE RATES • Voyage Revenues of $11.6 million for Q1 2026,compared to $8.7 million in 2025, an increase of 34%. Vessels Net Book Value of $76 million, an
Slide 4: Handy Size Demand and Rates
Handy Size Demand and Rates IRON ORE • Seasonal boost expected in iron ore trade World Seaborne Minor Bulk Trade & • Downside risk from rising costs driven by the conflict in the 18.000 6.0% BAUXITE Middle East 16.000 5.0% 14.000 12.000 4.6% 5.3% 3.1% 4.0% • Coal prices remain elevated, supporting h
Slide 5: Handysize Bulk Carrier Asset Values and Fleet Age
Handysize Bulk Carrier Asset Values and Fleet Age Handysize Fleet Age and Growth Handy Size Asset Values in $ Million $40 $35 • Newbuilding activity declined in Q1 2026 $30 $25 • Key contributing factors: $20 • Previously announced heavy port-call fees on $15 Newbuilding Chinese-built vessels, curre
Slide 6: Aframax/LR2 Spot Rates & Fleet Age
Aframax/LR2 Spot Rates & Fleet Age Aframax Spot Rates Overview March 2026 Average Spot Rates v/s 2025 Year Average March 31, 2026 2025 YTD AVERAGE • Highest average rate recorded on the NSEA–CONT route at 119.276 $119,276 per day 110.421 112.115 95.919 • Caribs–USG route showed the strongest percent
Slide 7: Product Tankers
PRODUCT TANKERS NEW ACQUISITIONS IN 2026 SAN REMO CLEAN FURY DWT: 50,760 DWT: 47,203 Year Built: 2008 Year Built: 2011 • Net fleet growth of +4.7% y-o-y in 2025 for the MR2 category. • Net fleet growth is expected to continue at around +6.5% in 2026, and • Demolition activity expected to remain stro
Slide 8: C3is Fleet
C3is Fleet Fleet consisting of 3 Handysize drybulk carriers, 1 Aframax oil tanker, and 2 Product Tankers with deliveries in 2026 Year Capacity DD/SS Next Employment Earliest Expiration of Vessel Name Vessel Type Yard Built Built (dwt) Passed DD/SS Status Charter Handysize Drybulk Hakodate S/Y, Japan
Slide 9: Strategic Relationships & Competitive Position
Strategic Relationships & Competitive Position C3is & its predecessor have strong market recognition as quality and reliable operators ▪ C3is management & the Manager have developed strong relationships and have experienced repeat business with international charterers. ▪ Repeat business highlights
Slide 10: Financial Update - Income Statement (Q1 2026 vs Q1 2025)
Financial Update - Income Statement (Q1 2026 vs Q1 2025) Income Statement All amounts in USD '000 Q1 2025 Q1 2026 Operational Highlights ➢ Revenues of $11.6 million for Q1 2026, compared to $8.7 million for Q1 2025, representing an increase of 34% Voyage Revenues 8,671 11,576 ➢ Net revenues of $10.4
Slide 11: Financial Update - Balance Sheet (March 31, 2026 vs December 31, 2025)
Financial Update - Balance Sheet (March 31, 2026 vs December 31, 2025) Balance Sheet Highlights December 31, March 31, All amounts in USD ' 000s 2025 2026 ➢ Cash and cash equivalents of $27.3 million as of Q1 2026, representing an increase of 82% compared to Cash and Cash Equivalents 14,941 27,264 y
Slide 12: Business Strategy
Business Strategy ✓ Owning a high-quality fleet reduces operating costs, improves safety and provides a competitive advantage in securing favorable charters ✓ Maintain the quality of vessels by carrying out regular inspections, both while in port and at sea, and adopting a High Quality comprehensive
Slide 13: Thank you
Thank you Athens Office 331, kifisias avenue 14561 kifisia c3is.pro Greece C3is Inc. 13