Blueyield Ab · NGM:SHIP
Blueyield Ab — H1 2026 Earnings Presentation
9 slides from Blueyield Ab's earnings presentation, June 2026
Slide 1: BlueYield Q2 2026 Investor Overview
BlueYield Q2 2026 | Investor Overview Diversified maritime investments • Nordic SME listed • www.blueyield.se June 2026
Slide 2: Investment Case
Investment Case Diversified and strategic approach to shipping investments Unique Access to Project Finance Direct exposure to project finance shipping transactions — a segment typically reserved for institutional investors, now accessible through a listed vehicle on Nordic SME. Highly Diversified P
Slide 3: Half-Year (H1) 2026 – Key Results
Half-Year (H1) 2026 – Key Results January 1 – June 30, 2026 SEK 101.94 SEK 92.90 NAV per share Share price +11.6% vs H1 2025 (19.6% adjusted for currency 449 shareholders effects and distributed dividend) SEK 37.8m SEK 38.7m Operating profit for the half-year (H1) Net profit for the half-year (H1) F
Slide 4: Half-Year (H1) 2026 – Key Results
Half-Year (H1) 2026 – Key Results January 1 – June 30, 2026 36 vessels 31.4% Portfolio – 25 SPVs Portfolio LTV 85 % Utilization rate Conservative capital structure Net asset value: SEK 326.2m | Total assets: SEK 329.4m
Slide 5: Portfolio Overview
Portfolio Overview As of 30 June 2026 | 36 Vessels | 25 Project Companies Discount to new EBITDA Avg. build / vessel Utilization Segment Age LTV parity value rate, % Tanker 16% Tanker 13,1 42,8% -7% 16,9% 96,0% 11% 16% Container 5% Container 17,0 17,2% -14% 12,3% 89,2% 5% Dry Bulk 20% 24% Dry Bulk 1
Slide 6: Transaction activity Q2
Transaction activity Q2 Significant portfolio rotation Acquisitions • Acquisition of shares within the dry bulk segment amounted to SEK 3.6 million • Acquisitions within the Platform Supply Vessel (“PSV”) segment amounted to SEK 1.1 million • Acquisition within the offshore segment amounted to SEK 2
Slide 7: Portfolio Value Development
Portfolio Value Development Development of portfolio value including cash and cash equivalents Portfolio value By segment: Q4 2025 vs Q2 2026 (SEK million) (SEK million) Q4 2025 Q2 2026 +8.4% 68,0 68,4 62,6 334 58,6 57,9 327 47,4 46,4 40,9 43,0 42,7 37,8 32,6 302 15,6 7,5 Q4'25 Q1'26 Q2'26 During H1
Slide 8: Market Outlook
Market Outlook Geopolitical dynamics and supply fundamentals shaping near-term positioning Tanker Allocation: 16% ► Peaking earnings with assets at historic levels Strong H1 performance driven by geopolitical events, Strait of Hormuz tensions and tighter sanctions enforcement of the shadow fleet con
Slide 9: Market Outlook
Market Outlook Geopolitical dynamics and supply fundamentals shaping near-term positioning MPP Allocation: 24% ► Structurally Stable Largest portfolio segment. Revenue on good levels and asset values normalizing gradually with perceived limited downside where a balanced orderbook provides structural