D'amico International Shipping S.a. · MIL:DIS
D'amico International Shipping — Q1 2026 Earnings Presentation
73 slides from D'amico International Shipping's earnings presentation, May 7, 2026
Slide 1: Q1 2026 Presentation
Q1 2026 Presentation d’Amico International Shipping May 7th, 2026
Slide 2: Disclaimer
DISCLAIMER. There shall be no offering or sale of any securities of d’Amico International Shipping S.A. in the United States of America, Switzerland, Canada, Australia, Japan, the United Kingdom or any jurisdiction in which such offer, solicitation or sale would be unlawful prior to its registration
Slide 3: Agenda
AGENDA. ▪ Executive summary ▪ DIS’ overview and key financials ▪ Strategic priorities and market overview ▪ Why invest in DIS ▪ DIS’ ESG ▪ Appendix
Slide 4: Executive summary
Executive summary. • Net profit – In Q1’26, d’Amico International Shipping SA (“DIS” or “the Company”) reported a Net profit of US$ 27.5m vs. a Net profit of US$ 18.9m in Q1’25. The positive result for the current period reflects the robust product tanker market experienced in the first three months
Slide 5: Executive summary (continued)
Executive summary (continued). • Purchase of two newbuilding MR2 vessels – In Jan’26, DIS signed a shipbuilding contract with Jiangsu New Yangzi Shipbuilding Co., Ltd. (China) (”YZJ”) for the purchase of two new MR2 (50,000 DWT) product tanker vessels at a contract price of US$ 45.4 million each. Th
Slide 6: DIS' overview and key financials
DIS’ overview and key financials
Slide 7: A modern, high-quality and versatile fleet
A modern, high-quality and versatile fleet. March 31st, 2026 DIS Fleet 1 LR1 MR Handy Total % Owned 6.0 15.0 6.0 27.0 93.1% Bareboat chartered 0.0 2.0 0.0 2.0 6.9% TOTAL on water 6.0 17.0 6.0 29.0 100.0% Vessels under construction 4.0 4.0 2.0 10.0 n.a. TOTAL including newbuildings 10.0 21.0 8.0 39.0
Slide 8: Lighter bank debt repayments and low refinancing risk
Lighter bank debt repayments and low refinancing risk. Forecasted bank debt financing cash-flow Daily bank loan repayment on owned vessels (Excluding overdraft facilities)1,2,3 (Excluding overdraft facilities)1,2,3 US$/mm US$/mm US$/mm US$/day Since ’20, DIS benefits from significantly lower bank de
Slide 9: Q2'26 estimated TCE earnings
Q2’26 estimated TCE earnings1. Q2’26 fixed days Q2’26 potential blended TCE TCE US$/day % of ‘fixed days’ TCE US$/day • Contract coverage: DIS has fixed ~60% of its Q2’26 employment days at a daily average of US$ 23,563. • Fixed spot days: DIS has fixed ~21% of its Q2’26 employment days on spot voya
Slide 10: Strong earnings outlook
Strong earnings outlook. Estimated fleet evolution (avg. n. of vessels)1 Potential upside to earnings2 N. of ships (based on ‘available days’) US$/mm Estimated net results on fixed contract days3 Potential net results4 US$/mm US$/mm 1. Average number of vessels in each period based on contracts in p
Slide 11: Temporary cost pressure
Temporary cost pressure. Daily operating costs – owned and bareboat General & administrative costs – total fleet vessels1 US$/day US$/m • Following the successful efforts between FY’18 and FY’22 to first reduce and then contain both Operating and G&A costs, an increase was expected from FY’23 onward
Slide 12: Financial results. Q1'26 Net financial position
Financial results. Q1’26 Net financial position. (US$ million) Dec. 31st, 2025 Mar. 31st, 2026 Gross debt (210.5) (214.3) IFRS 16 – additional liabilities (2.2) (2.0) Cash and cash equivalents 183.9 189.6 Other current financial assets1 1.4 0.9 Net financial position (NFP) (27.4) (25.8) Net financia
Slide 13: Financial results. Q1'26 Results
Financial results. Q1’26 Results. (US$ million) Q1’25 Q1’26 Non-recurring items: TCE Earnings 62.9 66.4 (US$ million) Q1’25 Q1’26 Total net revenue 64.1 67.6 Result on disposal of vessels (0.3) 0.1 Result on disposal of vessels (0.3) 0.1 Non-recurring financial items (0.1) 0.5 EBITDA 34.4 40.9 Asset
Slide 14: Financial results. Key operating measures
Financial results. FY’25 Key operating measures. Key Operating Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2026 Measures Avg. n. of vessels 32.7 32.0 31.1 30.4 31.6 29.0 Fleet contact 39.6% 50.8% 54.9% 57.7% 50.7% 62.2% coverage Daily TCE Spot 21,154 24,497 25,502 27,099 24,228 32,264 (US$/d) Daily T
Slide 15: Strategic priorities and market overview
Strategic priorities and market overview
Slide 16: DIS' CAPEX commitments
DIS’ CAPEX1 commitments. Investment plan US$/mm • DIS invested US$ 924.4m1 from FY’12 to FY‘19, mostly related to 22 newbuildings ordered since 2012. • DIS invested US$263.4 million between FY’22 and FY’25 on vessel acquisitions, including the exercise of purchase options on 6 modern Japanese MR2 ve
Slide 17: DIS' purchase options on leased vessels
DIS’ purchase options on leased vessels. Exercised purchase options: Unexercised purchase options: Build Purch. Option Vessel Name Date Delivery Date High Priority 1 Mar-05 Feb-21 High Voyager 2 Nov-14 Jan-23 High Freedom 3 Jan-14 May-23 High Fidelity Aug-14 Sep-22 High Discovery Feb-14 Sep-22 4 Hig
Slide 18: DIS' purchase options on time-chartered-in vessels
DIS’ purchase options on time-chartered-in vessels. • DIS has also exercised six purchase options on its time-chartered-in vessels, which were all well in the money relative to their current market value. Exercised purchase options (US$ mm): • Two of these options, relating to the High Adventurer an
Slide 19: Contracts and modern fleet to drive future results
Contracts and modern fleet to drive future results. Average TC and TC equivalent covered rates1 % of ‘employment days’ US$/day • For FY’26, DIS has covered ~55% of its available vessel days at an average TC equivalent rate of ~US$ 23.5 thousand. • TC contracts allow DIS to: ✓ consolidate strategic r
Slide 20: Strengthening freight rates and asset values
Strengthening freight rates and asset values. Historical MR TC and spot rates1 Historical MR asset values1 US$/day US$/m 60,000 1 YR TC and spot rates reached an all-time high in Mar’26 60 NB, 5yr old and 10yr old vessels are 50,000 55 respectively ~7%, ~9% and ~13% 40,000 50 below the last cycle pe
Slide 21: Trade disruptions. Iran war
Trade disruptions. Iran war. Refining Margins1 Estimated disruption to Hormuz oil flows to date3 $/barrel mb/d 120 25 100 20 80 2 4 60 15 40 10 20 20 14 5 0 Jun-25 Jan-26 Jun-24 Jul-24 Jan-25 Mar-25 Jul-25 Mar-26 Nov-25 Nov-24 Dec-24 Feb-25 Aug-25 Dec-25 Feb-26 Aug-24 Sep-24 Sep-25 Apr-24 May-24 Oct
Slide 22: Trade disruptions. Sanctioned vessels and oil on water
Trade disruptions. Sanctioned vessels and oil on water. Sanctioned oil on water1 Total sanctioned tankers2 Million barrels Number of vessels % on total tankers (dwt) 500 1200 20% 450 18% 1000 400 16% 350 14% 800 19% 300 12% 250 600 10% 200 8% 400 150 6% 100 4% 200 50 2% - 0 0% Jul-16 Jan-17 Jul-17 J
Slide 23: Trade disruptions. Red Sea attacks
Trade disruptions. Red Sea attacks. Voyage duration increase on key trades (sea-days)2 East to West and West to East CPP ton-days (million)1 420 60 50 370 50 45 43 42 40 41 38 320 40 34 30 30 31 28 30 270 24 23 20 220 10 170 - Jubail - Malta - Sikka - Ventspils - Sikka - New Singapore - Ventspils -
Slide 24: Trade disruptions. Lifting of sanctions on Venezuelan oil
Trade disruptions. Lifting of sanctions on Venezuelan oil. Venezuela’s oil production 1990-2026 Million barrels per day 3.5 3.0 2.5 2.0 1.5 2.9 3.2 3.1 2.9 2.8 2.8 2.8 2.6 2.8 2.8 2.8 2.4 2.3 2.3 2.4 2.4 2.3 2.5 2.5 2.4 2.5 2.5 2.5 2.5 2.5 2.3 1.0 2.1 2.0 1.5 0.5 0.9 0.5 0.6 0.7 0.8 0.9 1.0 1.0 0.0
Slide 25: Trade disruptions. Russian refined product exports
Trade disruptions. Russian refined product exports1 Russia’s refined product exports by destination Russia’s refined product exports Million barrels per day Million barrels per day 3.5 3.5 3.0 3.0 2.5 2.5 2.0 2.0 1.5 1.5 1.0 1.0 0.5 0.5 0.0 0.0 Dec-25 Dec-21 Dec-22 Dec-23 Dec-24 Jun-21 Jun-22 Jun-23
Slide 26: Oil demand and refining throughputs
Oil demand and refining throughputs. Global oil demand1 Global refinery throughputs1 Million barrels per day Million barrels per day 107.0 88.0 86.7 106.0 85.7 85.7 84.9 85.4 106.0 105.5 86.0 84.4 84.5 83.3 84.7 83.7 84.0 83.6 105.0 105.4 82.4 82.3 105.4 82.1 82.5 83.8 84.0 103.6 82.0 83.2 83.3 83.3
Slide 27: Abundant oil supply if Iran conflict ends soon
Abundant oil supply if Iran conflict ends soon. World oil production1 ‘ Million barrels per day 107.0 106.2 -0.1 0.4 0.2 104.7 105.0 0.5 0.1 -0.3 103.1 -2.3 103.0 101.0 99.0 97.0 95.0 FY'24 avg FY'25 avg Russia OPEC+ USA Canada Brazil Guyana Others FY'26 avg excl Russia • In FY’25, world oil supply
Slide 28: Iran war spurring declines in oil inventories on water
Iran war spurring declines in oil inventories on water. Crude oil price (Brent, US$ bbl), forward curve1 CPP vs Million barrels DPP and crude oil floating storage2 110 104.5 105 350 325 100 300 95 275 89.8 250 90 84.6 225 85 81.5 200 79.6 78.3 175 80 77.2 76.5 75.7 75.0 74.4 150 75 125 100 70 75 65
Slide 29: Support from non-coated tanker market
Support from non-coated tanker market1. Coated LR2 fleet: no. clean vs. dirty trading1 Historical non-coated tankers’ TCE spot rates1 300 US$/day 285,000 280 260 235,000 240 185,000 220 200 135,000 180 85,000 160 140 35,000 120 -15,000 Cln (RHS) Dty (LHS) VLCC Suezmax Aframax • Non-coated tankers ca
Slide 30: Longer-term demand. Changes in the refinery landscape
Longer-term demand. Changes in the refinery landscape. Net refinery capacity additions by year ‘23-’271 % of net refinery capacity Thousand barrels/day 1,500 additions ‘25-’271 1,300 60.0% 1,100 50.0% 900 40.0% 700 30.0% 55.8% 500 47.1% 20.0% 300 27.9% 10.0% 100 7.8% 13.7% 0.0% -100 2023 2024 2025 2
Slide 31: Growing pool of demolition candidates
Growing pool of demolition candidates. Fleet composition by age (MRs and LR1s)1 Fleet composition by age (All tankers)1 70% 60% 60% 56.2% 57.2% 48.2% 48.3% 53.6% 53.9% 50% 44.9% 45.8% 50.3% 50% 40.3% 42.2% 40% 34.0% 40% 34.6% 29.7% 28.4% 30% 25.7% 27.0% 30% 25.0% 24.6% 22.9% 19.8% 19.5% 19.8% 20.3%
Slide 32: Accelerating deliveries and rising scrapping potential
Accelerating deliveries and rising scrapping potential. All 100 tankers deliveries, 2025-20261 90 80 70 47 N. Of vessels 60 31 33 42 50 21 40 40 23 30 18 20 45 44 38 38 33 27 31 10 24 0 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Estimated deliveries MR and LR1 Estimated deliveries all other tan
Slide 33: Sharp drop in newbuild orders in '25
Sharp drop in newbuild orders in ‘25. MR newbuilding parity curve vs MR & LR1 orders2 second-hand values1 Period end US$ Million N. of vessels orderbook/fleet ratio 55.0 51.0 50.0 49.0 250 70% 45.0 41.7 61% 40.0 60% 39.0 200 35.0 32.5 47% 50% 30.0 150 40% 25.0 27.0 23.2 31% 20.0 100 30% 21% 15.0 17%
Slide 34: Accelerating but manageable fleet growth
Accelerating but manageable fleet growth. MR & LR1 deliveries and scrapping (m dwt) (lhs), and net MR & LR1 fleet age profile1 fleet growth (%)1 (rhs) Million Dwt Million Dwt and % of current fleet 12 14% 12.7% 80 53.9% 10 11.9% 12.0% 12% 9.9% 10% 70 8 9.1% 9.7% 8% 60 6 6% 50 4 4.8% 4.5% 4.1% 4.5% 4
Slide 35: Why invest in DIS
Why invest in DIS
Slide 36: Historical NAV evolution
Historical NAV evolution. DIS’ Historical NAV evolution1,2,3 US$/m US$/share 1400 14.00 20 1194 1200 1150 12.00 39 1048 30 993 10.04 9.81 9.76 9.65 1000 10.00 8.92 8.81 8.60 8.23 7.84 767 800 7.55 8.00 6.94 6.27 6.24 5.83 600 5.58 5.54 6.00 4.21 4.44 406 3.98 4.19 400 348 3.51 3.56 340 4.00 327 3.12
Slide 37: Potential use of funds (excluding cash returned to shareholders)
Potential use of funds (excluding cash returned to shareholders). Potential use of funds for investments and lease reimbursements US$/mm • DIS plans lease reimbursements of US$ 30.0 million in FY’26, arising from the exercise of purchase options on its bareboat-chartered-in vessels. • Furthermore, c
Slide 38: Increasing shareholder returns
Increasing shareholder returns. Cash returned to shareholders Financial Leverage (NFP to FMV) US$/mm % Supported by robust earnings and a very strong financial structure (Net Financial Position to Fleet Market Value ratio of 2.0% as at end-March’26), DIS has been steadily increasing returns to its s
Slide 39: DIS' fleet. Focus on enhanced technical efficiency
DIS’ fleet. Focus on enhanced technical efficiency. Latest Rudder OPS Propeller Wake Speed/ Prop. Propeller Low conventional with Preswirl Eco EPL (Engine (Onshore Ships Engine (C10.7) boss cap fins Duct Fins Bulb and fins vane Equal. Duct Led nozzles Power Limit) power supply) power control silicon
Slide 40: DIS' fleet. Operational efficiency improvements
DIS’ fleet. Operational efficiency improvements. Tekomar Cutting of CBM (Condition Biofouling Hull full blasting Ships Health check Prop. cleaning Users based maintenance) Risk management age above 10Y • for C02 reduction NB 5 (MR1) On the operational side, DIS' Fleet NB 6 (MR1) has adopted measures
Slide 41: Why invest in DIS today
Why invest in DIS today. • Young-fleet, most of which acquired at historically attractive prices and at top-tier yards. Furthermore, vessels are mostly eco-design (93% of the fleet) and IMO classed (79% of the fleet). • First-class in-house technical management provides to DIS access to long-term ch
Slide 42: DIS' ESG
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Slide 43: DIS' Purpose and Values
DIS’ PURPOSE and VALUES. Long-term vision, Family tradition and Business Ethics Innovation Our sustainable business model pursues the goal of Inspired by the values of our family, we build our creating value and generating a positive impact on the business with a long-term view, focusing on innovati
Slide 44: DIS' ESG. Key figures
DIS’ ESG. Key figures ENVIRONMENTAL VALUE 2025 1 EEXI Compliant ships (as at year-end) 100.0% CII 6.24 IMO classed fleet % (as at year-end)2 79.3% Fleet age (years) 9.6 Fleet certified for the use of Biofuel blends up to B30 (%) (as at year-end) 100% Fleet with installed water ballast treatment syst
Slide 45: DIS' ESG. Environment and Safety
DIS’ ESG. Environment and Safety DIS seeks to be an industry leader on environmental and safety issues: • Among the first fleets worldwide compliant with Monitoring Reporting and Verification criteria for CO2 emissions. • Since 2011 DIS has a fleet performance monitoring department to optimize vesse
Slide 46: DIS' ESG. Environmental KPIs
DIS’ ESG. Environmental KPIs 46
Slide 47: DIS' ESG. Corporate Governance
DIS’ ESG. Corporate Governance DIS is listed on the most demanding segment of the Milan stock exchange (the Star), and has therefore adopted a first-class corporate governance framework: • Incorporated in Luxembourg, it is organized and governed in compliance with Luxembourg laws • Listed on the STA
Slide 48: DIS' ESG. Social responsibility
DIS’ ESG. Social responsibility DIS seeks a diverse and inclusive work environment, where teamwork is highly valued. The high levels of employee satisfaction result in high retention rates. • 26 onshore personnel as at 31 December 2025; • 632 seagoing personnel as at 31 December 2025; • 96% retentio
Slide 49: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable DIS’ Sustainable DIS’ Sustainable Sustainability Development Sustainability Development Sustainability Development Topics Goals Topics Goals Topics Goals Vessel energy Integrated Ship recycling efficiency management system for ongoing improvement
Slide 50: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable Activity performed by DIS Sustainability Topics Development Goals Vessel energy efficiency • Renewal of the fleet with “Eco” vessels, in line with IMO directives, thanks to the implementation of innovative technologies. Innovation: • Projects aime
Slide 51: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable Activity performed by DIS Sustainability Topics Development Goals Integrated management • Transparent statement of policies governing operations on board managed ships - in system for ongoing order to ensure safety and efficiency - and of the meth
Slide 52: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable Activity performed by DIS Sustainability Topics Development Goals Ship recycling • Preparation of hazardous material inventories on all new buildings and on the existing fleet. Stakeholder engagement • Stakeholder mapping and detection of needs an
Slide 53: Appendix
J <brie INTERNATIONAL SHIPPING SA.
Slide 54: IMO (MEPC 76): CII and EEXI
IMO (MEPC 76): CII and EEXI In June 2021, IMO's Marine Environment Protection Committee (MEPC 76) adopted amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) Annex VI that will require ships to reduce their greenhouse gas emissions. These amendments combine
Slide 55: IMO (MEPC 80): Net zero by 2050
IMO (MEPC 80): Net zero by 2050 In July 2023, IMO's Marine Environment Protection Committee (MEPC 80) has set more ambitious targets compared with the Initial IMO Strategy on Reduction of GHG Emissions from Ships. The new targets consider the Well-to-Wake (WtW) GHG emissions of marine fuels, as addr
Slide 56: IMO (MEPC 83): Approval of Net-Zero Framework
IMO (MEPC 83): Approval of Net-Zero Framework The 83rd session of the International Maritime Organization’s Marine Environment Protection Committee (MEPC 83), held from 7 to 11 April 2025, marked a pivotal advancement in maritime environmental regulation. Key decisions were made to align internation
Slide 57: IMO (MEPC 83): Approval of Net-Zero Framework
IMO (MEPC 83): Approval of Net-Zero Framework The 83rd session of the International Maritime Organization’s Marine Environment Protection Committee (MEPC 83), held from 7 to 11 April 2025, marked a pivotal advancement in maritime environmental regulation. Key decisions were made to align internation
Slide 58: (MEPC/ES.2), October 2025
(MEPC/ES.2), October 2025 The International Maritime Organization (IMO) has agreed to adjourn the extraordinary session of the Marine Environment Protection Committee (MEPC), which was convened from 14 to 17 October 2025 to consider the adoption of draft amendments to MARPOL Annex VI, including the
Slide 59: EU Emission Trading System (ETS) and Fuel EU
EU Emission Trading System (ETS) and Fuel EU. The European Commission has recently published a set of legislative proposals to enable the EU to attain its 2030 target of reducing its greenhouse gas emissions by at least 55% by 2030 compared with 1990 levels. In particular, the EU Commission included
Slide 60: Trade disruptions. US and Chinese Port Fees
Trade disruptions. US and Chinese Port Fees Tankers on water1 Tankers on order1 100% 100% 90% 90% 23% 18% 19% 29% 80% 80% 38% 50% 70% 61% 70% 69% 74% 73% 72% 60% 78% 60% 50% 50% 40% 40% 77% 82% 81% 71% 30% 30% 62% 50% 20% 39% 20% 31% 26% 27% 28% 10% 22% 10% 0% 0% VLCC Suez/LR3 Afra/LR2 Pana/LR1 MR/H
Slide 61: Trade disruptions. Declining CPP Cannibalization
Trade disruptions. Declining CPP Cannibalization. Uncoated share of long haul CPP trade1 Gasoil around the Cape of Good Hope2 Million tonnes Uncoated share Thousand of tonnes 7,000 80 14% 6,000 70 12% 5,000 60 10% 50 4,000 8% 40 3,000 6% 30 4% 2,000 20 10 2% 1,000 - 0% - Q2-07 Q1-14 Q1-17 Q4-23 Q3-0
Slide 62: Temporary reversal in Chinese naphtha imports growth
Temporary reversal in Chinese naphtha imports growth. Chinese naphtha imports1 Thousand barrels/day 500 450 400 350 300 250 200 150 100 50 0 Jun-18 Mar-23 Jun-23 Mar-17 Dec-17 Mar-18 Dec-18 Mar-19 Dec-19 Mar-20 Dec-20 Mar-21 Dec-21 Mar-22 Dec-22 Dec-23 Mar-24 Dec-24 Mar-25 Dec-25 Mar-26 Jun-17 Jun-1
Slide 63: Jet fuel leading oil demand growth in '26
Jet fuel leading oil demand growth in ‘26. % Change in number of commercial Jet fuel & Kerosene demand 2021-2025 Global demand growth by product flights vs. 20191 (kbpd)2 2026 (kbpd)2 Thousand barrels/day Y-O-Y growth Thousand barrels 30% 8,000 25% 15% 20.1% Jet fuel & Kerosene +70 7,000 20% 6,000 1
Slide 64: DIS' Shareholdings Structure
DIS’ Shareholdings Structure. Key Information on DIS’ shares 3 1. d'Amico International SA 55.66% 2. Others 40.30% 2 3. d'Amico International Shipping SA 4.04% 100.00% 1 Listing market Borsa Italiana, STAR No. of shares issued 124,106,556 Market capitalisation1 €979.5 million Shares repurchased / %
Slide 65: d'Amico Group Structure
d’Amico Group Structure. 100% d’Amico Società di Navigazione Spa d’Amico International S A 100% 100% d’Amico Ship Ishima Pte Ltd Management S.r.l. 85% 76.9% Rudder S.A.M. Sirius Ship Management S.r.l. 100% d’Amico Dry d.a.c. 55.66% d’Amico International Shipping S A 100% d’Amico Tankers d.a.c. 100%
Slide 66: DIS' estimated sensitivity to interest rates
DIS’ estimated sensitivity to interest rates1. (US$ million) FY’26 FY’27 FY’28 Estimated average bank debt (173.1) (216.1) (247.8) Estimated average hedged bank debt 25.3 3.4 - Estimated average unhedged bank debt (147.9) (212.7) (247.8) Assumed average cash & equivalents 100.0 100.0 100.0 Estimated
Slide 67: Financial results. Consolidated Income Statement
Financial results. Consolidated Income Statement US$ Thousand Q1 2026 Q1 2025 Revenue 84,114 88,575 Voyage costs (17,751) (25,688) Time charter equivalent earnings 66,363 62,887 Bareboat charter revenue 1,202 1,202 Total net revenue 67,565 64,089 Other direct operating costs (21,435) (23,391) Genera
Slide 68: Financial results. Consolidated Balance Sheet
Financial results. Consolidated Balance Sheet As at As at As at As at US$ Thousand US$ Thousand 31 March 2026 31 December 2025 31 March 2026 31 December 2025 ASSETS SHAREHOLDERS' EQUITY AND LIABILITIES Property, plant and equipment and Right-of-use assets 789,939 791,375 Share capital 62,053 62,053
Slide 69: Financial results. Consolidated Cash Flow Statement
Financial results. Consolidated Cash Flow Statement US$ Thousand Q1 2026 Q1 2025 US$ Thousand Q1 2026 Q1 2025 Profit for the period 27,460 18,866 Acquisition of Property, plant and equipment (33,196) (37,476) Depreciation 11,732 12,675 Net cash flow from investing activities (33,196) (37,476) Income
Slide 70: DIS' current fleet overview. LR1 & MR Fleet
DIS’current fleet overview. LR1 & MR Fleet Owned - LR1 Tonnage (dwt) Year Built Builder, Country Interest1 IMO Classified Bright Future2 75,000 2019 Hyundai MIPO, South Korea (Vinashin) 100% - Cielo di Cagliari 75,000 2018 Hyundai MIPO, South Korea (Vinashin) 100% - Cielo Rosso 75,000 2018 Hyundai M
Slide 71: DIS' current fleet overview. Handy Fleet
DIS’current fleet overview. Handy Fleet Owned Tonnage (dwt) Year Built Builder, Country Interest1 IMO Classified Cielo di Salerno 39,043 2016 Hyundai MIPO, South Korea (Vinashin) 100% IMO II/IMO III Cielo di Hanoi 39,043 2016 Hyundai MIPO, South Korea (Vinashin) 100% IMO II/IMO III Cielo di Capri 39
Slide 72: DIS' New Building Program
DIS’NEW BUILDING PROGRAM. Owned Estimated tonnage (dwt) Estimated delivery date Builder, Country Interest1 MR/Handysize/LR1 YZJ2024-1642 – Tbn 75,000 Q3-2027 Jiangsu New Yangzi Shipbuilding, China 100% LR1 YZJ2024-1643 – Tbn 75,000 Q4-2027 Jiangsu New Yangzi Shipbuilding, China 100% LR1 YZJ2024-1644
Slide 73: Thank you!
Thank you!
d'Amico International Shipping — Q1 2026 Earnings Presentation on 6ix