Slide 1: Investor Presentation Q3 2025
ERNST RUSS AG Investor Presentation Q3 2025 // 11 November 2025
Slide 2: Content
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Content 1 Ernst Russ at a glance 2 Q3 2025 3 Market Update 4 Company Update
Slide 3: Ernst Russ´ role in international shipping
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Ernst Russ´ role in international shipping Ship-owner / „Manage the Manager“ Subcontractors Tonnage Provider Commercial management Financing Technical management Providing tonnage for flexibility and growth Quality assurance Insurance Crewing $ $ Charter r
Slide 4: Ernst Russ at a glance 30.09.2025
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Ernst Russ at a glance 30.09.2025 26 2 EBIT and EBITDA quarterly Vessels on Water Vessels on Order EBITDA in EUR m 48 EBIT in EUR m 40 Thereof from vessel sales ≈ USD 557 m $ 17.1 years 27 29 Market value fleet 22 23 23 22 ∅ Age 30.09.2025 21 21 (30.09.202
Slide 5: Ernst Russ fleet
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Ernst Russ fleet Name Ownership Segment Capacity Year built Min. Charter Baldur Ernst Russ Container 1,341 TEU 2010 Q2/2027 Target: Reduction of non-strategic minority interests ESL Winner Ernst Russ Container 1,841 TEU 2008 Q2/2027 Faith Ernst Russ Contai
Slide 6: Content
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Content 1 Ernst Russ at a glance 2 Q3 2025 3 Market Update 4 Company Update
Slide 7: Overview Q3 2025 & Post Quarter Update
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Overview Q3 2025 & Post Quarter Update Key Developments Q3 Financial Performance: Revenue totaling EUR 39.4 m and an operating result (EBIT) of EUR 22.1 m. Operational Performance: Fleet utilization of 98.5 %. Average Charter rate/day increases from 17.963
Slide 8: Order of 2 x 2,280 TEU containership newbuildings
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Order of 2 x 2,280 TEU containership newbuildings Deal Vessel highlights Employment concept Eimskip & Ernst Russ Joint Venture „ElbFeeder“ 2,280 TEU containerships Initial 10-year charter contract signed contracts for 2 container vessels with with Eimskip
Slide 9: Key Performance Indicators Q3 2025
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Key Performance Indicators Q3 2025 EBITDA- margin EBIT and EBITDA Key performance Shipping: Revenue vs. OPEX* Despite a lower 72.7% indicators on a number of vessels and 40 29 higher level than 38 trading days compared 22 previous year to the same period l
Slide 10: Balance Sheet 30.09.2025
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Balance Sheet 30.09.2025 Assets ∑ 355.0 ∑ 345.2 EUR m Highlights 226.9 221.7 Strong capitalization for future growth Vessels* Robust balance sheet with equity 110.7 110.0 Liquidity ratio of 87.0% (Adj.**: 83.4%) Other assets 17.4 13.5 31.12.2024 30.09.2025
Slide 11: Cashflow Q3 2025
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Cashflow Q3 2025 In EUR m Cashflow EUR m Liquidity Highlights 01.07.2025 111.7 Strong EBITDA leads to positive Cashflow from operating Cashflow operating activities 19.7 Cashflow from investing activities includes interest earned on deposits Cashflow from
Slide 12: Net Income Q3 2025
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Net Income Q3 2025 In EUR m Highlights EBIT 22.1 Net interest and investment income includes mainly interest on fixed- Non-operating term deposits and overnight 0.0 result deposits Net interest and Positive income tax result of investment 0.9 EUR 5.7 m due
Slide 13: Ernst Russ Journey and Performance
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Ernst Russ Journey and Performance Q1-Q3 2025 Revenue in EUR m and Forecast Q4 2025 EBITDA [adjusted]* in EUR m 192 203 173 Q1-Q3: 93 95 101 91 119 Q1-Q3: 56 68 39 11 2020 2021 2022 2023 2024 2025 Avg. Number of vessels (reporting period) 14 18 29 30 29 27
Slide 14: Content
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Content 1 Ernst Russ at a glance 2 Q3 2025 3 Market Update 4 Company Update
Slide 15: Container Shipping - Supply
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Container Shipping - Supply Global container fleet and orderbook* Age structure global container fleet* Comments: 500 - 25+ years 3.344 20-24 years General: Following years of record 2,999 212 3.9% TEU <5years 9.3% contracting, the orderbook-to- 27.5% flee
Slide 16: Container Shipping – Charter Market
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Container Shipping – Charter Market Development of freight and charter rates 6.000 Market Overview: Geopolitical Impact: Red Sea closure 5.000 expected to remain through 2025 and into Q1 2026. 4.000 Trade policies: US / China 1-year truce impact remains to
Slide 17: Content
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Content 1 Ernst Russ at a glance 2 Q3 2025 3 Market Update 4 Company Update
Slide 18: Strategic Roadmap
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Strategic Roadmap Vision Quality at scale with Disciplined Growth long-term stability Diversified yield play focusing on Transformation risk mitigation Long term goals: Clear structures and enhanced market Goal: Position Ernst Russ AG as a and investor vis
Slide 19: Why Ernst Russ?
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Why Ernst Russ? Pure Play Shipping Attractive Valuation Solid Financial Foundation Focus on shipping assets with direct exposure to Market-backed valuations indicate Robust balance sheet, low leverage, and fiscal global markets and key segments significant
Slide 20: Share and Investor Relations
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Share and Investor Relations Shareholder Structure Performance of the share price Financial Calender 2025 / 2026 XETRA in EUR 12. November 2025 MKK – Munich Capital Market Conference 8,00 24.7% 24-25 November 2025 6,00 Eigenkapitalforum, Frankfurt 33.7 m 3
Slide 21: Döhle Group – Strong Partner
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Döhle Group – Strong Partner The service spectrum of Döhle Group covers all parts Strong backer with clear comittment towards the Ernst Russ and aspects of modern shipping business. strategy. Access to dealflow and customers, including two of the largest e
Slide 22: Updated Forecast 2025
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Updated Forecast 2025 EUR 152-162 m 97.0% Revenue Utilization Thereof contracted: EUR 152 m (2024: EUR 172.7 m) (2024: 96.4 %) EUR 48-63 m EUR 87-102 m EBIT from ship operations EBIT incl. vessel sales © Ernst Russ AG (2024: EUR 65.8 m) (2024: EUR 67.7 m)
Slide 23: Disclaimer
ERNST RUSS AG INVESTOR PRESENTATION Q3 2025 Disclaimer This presentation has been prepared by Ernst Russ AG („Company“) and comprises the written materials/slides for a presentation concerning the Company. By attending this presentation and / or reviewing the slides you agree to be bound by the foll
Slide 24: Ernst Russ AG
ERNST RUSS AG Ernst Russ AG Elbchaussee 370 22609 Hamburg Germany Picture title and back: Adobe Stock © Mariusz ir@ernst-russ.de | +49 40 8888 1 1800