Slide 1: Decarbonise Today, Navigate Tomorrow – Earnings release Q3 2024
Decarbonise Today Navigate Tomorrow Earnings release Q3 2024 November 7th 2024 – Alexander Saverys & Ludovic Saverys
Slide 2: Forward-looking statements
Forward-looking statements Matters discussed in this presentation may constitute forward-looking statements under U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the Company’s current views with respect to future events
Slide 3: Presentation topics
Presentation topics 1. Q3 2024 financials & highlights 2. Marine division market update 1. TCE performance 2. Market outlook 3. Conclusion and Q&A © 2024 – CMB.TECH 3
Slide 4: New name and eight new vessels – Q3 2024 financials & highlights
NEW NAME AND EIGHT NEW VESSELS Q3 2024 FINANCIALS & HIGHLIGHTS Non public version - © 2023 – CMB.TECH nv 4
Slide 5: Q3 2024 financials
Q3 2024 financials P&L Q3 2024 EBITDA NET INCOME NET INCOME adj. Adjusted for capital gains (in USD Million) Adjusted for capital gains (in USD Million) (in USD Million) 495 407 152 143 146.6 184.4 115.8 98.1 83 88 69.8 36.7 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2024 2024 2023 2024 2024 2024
Slide 6: Q3 2024 highlights
Q3 2024 highlights CMB.TECH a diversified and future-proof …with a clear vision on value creation for maritime group… stakeholders by taking actions today! ✓ Profit of USD 98.1 million in Q3 2024 (USD 0.49 per share) – ✓ Signed seven-year time charter contract for Chemical Tanker 8 bringing YTD prof
Slide 7: Commercially attractive fleet growing by the month
Commercially attractive fleet growing by the month Q3 2024 deliveries: Mineral Italia, CMA CGM Etosha, Bochem New Orleans Q4 quarter to date deliveries: CMA CGM Dolomites, Mineral Eire, Mineral Hellas, Bochem Brisbane, Helios today today today 37 + 8 9 + 21 4+1 115 Q4’24 Q4’25 Q4’26 Q4’24 Q4’25 Q4’2
Slide 8: Q3 2024 Marine division highlights
Q3 2024 Marine division highlights TANKERS DRY-BULK CONTAINER CHEMICAL OFFSHORE WIND 37 + 8 9 + 21 4+1 6+4 54 + 12 908.6 Spot - CVC 522.4 528.1 86.5 Contract backlog $ millions Contract backlog $ millions Contract backlog $ millions Contract backlog $ millions Contract backlog $ millions 40,366 40,8
Slide 9: 2.06 Billion USD marine division contract backlog
2.06 Billion USD marine division contract backlog Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Blue chip counter parties: 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 CMA CGM Masai Mara CONTAINER VESSELS CMA CGM Zingaro 522.4 CMA CGM Etosha MIO USD CMA CGM Dolomites 1,4
Slide 10: Marine division available days
IN DAYS Spot days Time Charter (TC) days Marine division available days NEWCASTLEMAX BULK CARRIERS 6000 TEU CONTAINER VESSELS 25K DWT CHEMICAL TANKERS 0 0 0 0 0 0 730 730 550 684 1,551 2,187 2,059 5,462 8,918 943 1,460 1,460 2024 2025 2026 2024 2025 2026 2024 2025 2026 FSO VLCC SUEZMAX TOTAL 0 0 0 7
Slide 11: Marine division market update
MARINE DIVISION MARKET UPDATE
Slide 12: The CMB.TECH fleet operates in a global playing field
The CMB.TECH fleet operates in a global playing field China Bear Iron Ore and Steel Bull Lack of Stabilization of Reflation of Population LNG Trucks & PBoC Monetary continued Chinese property China’s decline EVs Policy Support stimulus market economy Reduced Housing crisis, Iron Ore supply Bauxite s
Slide 13: Helios
HELIOS SUPER-ECO SUEZMAX HELIOS DELIVERED IN OCTOBER 2024 (*) picture taken by the crew during the maiden voyage
Slide 14: Tankers
Tankers KEY HIGHLIGHTS Q2 2024 PERFORMANCE IN $ PER VESSEL PER DAY • Trading fleet of 14 VLCC and 21 Suezmax vessels on the water • Future-proof tonnage on order: 5 x 13,263 ammonia powered ECO VLCC, and 3 x ECO 16,468 Spot rates to date for Q4 2024 Suezmax • The crude tanker market outlook remains
Slide 15: Tankers – earnings and earning drivers
Tankers – earnings and earning drivers Q3 2024 VLCC AND SUEZ TCE EARNINGS ARE FAR ABOVE HISTORIC Q3 EARNINGS – ALBEIT REGULAR SEASONALITY GLOBAL CRUDE OIL DEMAND GROWING BUT SLOWER YoY (October 2024) $ per day 37,500 31,374 160,000 Sector rates Q3 2024: World Oil Demand +0.9% Suez average VLCC avera
Slide 16: Tankers – global oil demand & global oil supply
Tankers – global oil demand & global oil supply GLOBAL OIL DEMAND FORECAST IEA DEMAND – SUPPLY IMBLANCE 2025 1.64 2 1.30 1.17 1.00 0.72 1 0 105.8 105.0 -1 -2 -3 1.2 -4 104.6 -5 104.4 104.4 103.8 -6 104.1 -7 103.8 103.7 -8 103.4 -9 103.1 102.9 102.8 -10 102.8 -11 IEA EIA Rystad OPEC Average 2024 2025
Slide 17: Tankers – rapidly ageing Suezmax profile
Tankers – rapidly ageing Suezmax profile SUPPLY SIDE REMAINS FAVOURABLE…NONETHELESS OB/F of 16.3% ASKS FOR CAUTIOUSNESS… By 2030, +244 Suezmax tankers will be > 20 years (~37% of the total fleet) New building on order: ~ 108 Suezmax tankers (OB/F 16.3%) (~ 72 VLCC tankers (OB/F 8.0%)) 110 >20 by 203
Slide 18: Mineral Eire
MINERAL EIRE NINTH SUPER-ECO NEWCASTELMAX DELIVERED IN OCTOBER 2024 (*) picture taken by the crew during the maiden voyage
Slide 19: Dry bulk
Dry bulk KEY HIGHLIGHTS Q3 2024 PERFORMANCE CMB.TECH NEWCASTLEMAX PREMIUM EARNINGS POTENTIAL • As of November 7th, 9 super-eco 210,000 DWT Newcastlemaxes on the water exposed to supportive IN $ PER VESSEL PER DAY +53.4% freight markets OPEX Actual Q3 2024 TCE / day 1,074 P&L break-even 2024 / day Q4
Slide 20: Dry bulk – earnings and earning drivers
Dry bulk – earnings and earning drivers Q3 2024 NEWCASTLEMAX TCE EARNINGS ARE FAR ABOVE HISTORIC Q3 EARNINGS DRY-BULK SEABORNE TRADE IS STILL GROWING 27,525 38,425 YoY (October 2024) Sector average Q3 2024: Cape average Nuke average $ per day +60% +60% China Steel Production -3.0% 170,000 Q3 ‘10-yea
Slide 21: Dry bulk – rapidly ageing Capesize profile
Dry bulk – rapidly ageing Capesize profile SUPPLY SIDE REMAINS FAVOURABLE… By 2030, +823 Capesize bulk-carriers will be >20 years (~40% of the total fleet) New building on order: ~ 145 Capesize bulk-carriers (OB/F 7,3%) 1,996 260 >20 by 2030 251 2,000 # vessels # vessels 240 220 212 214 200 1,500 18
Slide 22: Dry bulk – new volumes and additional ton-mile
Dry bulk – new volumes and additional ton-mile Beauxite project in Guinea z 2024: 137 MT/Y ➔ 2025: 156 MT/Y Bon Ami 6 MT/Y – 10 MT/Y Iron Ore import port Koumbia project 3.5 MT/Y Qingdao (China) Societe Miniere de Boke 10 MT/Y Simandou iron ore project in Guinea Sangaredo Mine TDB Start 2025,100% by
Slide 23: CMA CGM Dolomites
CMA CGM DOLOMITES LAST SUPER-ECO 6,000 TEU DELIVERED IN OCTOBER 2024
Slide 24: Containers
Containers KEY HIGHLIGHTS Q3 2024 PERFORMANCE • CMA CGM Dolomites was delivered in October – resulting in 4 super-eco 6,000 TEU ice class container feeder IN $ PER VESSEL PER DAY vessels on the water • New-building program of the 6,000TEU ice class completed and all operational under a 10-year time
Slide 25: Containers – earnings and sector drivers
Containers Q3 2024 NEWCASTLEMAX TCE EARNINGS ARE FAR ABOVE HISTORIC Q3 EARNINGS CONTAINER SECTOR DRIVERS 8.000 80.000 YoY (October 2024) USD/Day USD/TEU Sector rates Q3 2024: Q3 ‘10-year’ average: 7.500 75.000 4,125 2,014 World seaborne container +60% trade demand growth +5.2% 7.000 USD/TEU average
Slide 26: Bochem Brisbane
BOCHEM BRISBANE SIXTH SUPER-ECO CHEMICAL TANKER DELIVERED IN OCTOBER 2024 (*) picture taken by the crew during the launch
Slide 27: Chemical
Chemical KEY HIGHLIGHTS Q3 2024 PERFORMANCE • Delivery of Bochem New Orleans (August) and Bochem Brisbane (October) – both IN $ PER VESSEL PER DAY TCE calculations: under 10 year time charter contract with Stolt. Six chemical tankers on the water – • Budget P&L break-even for 2 x Pool and 4 x 10-yea
Slide 28: CSOV I
CSOV I FIRST WINDCAT CSOV HAS BEEN SUCCESFULLY LAUNCHED IN THE WATER – DELIVERY Q2 2025
Slide 29: Offshore wind and oil & gas
Offshore wind and oil & gas KEY HIGHLIGHTS Q3 2024 PERFORMANCE • Offshore market sentiment is broadly positive after multi-year supply-side rebalancing and TCE calculations: continued incremental demand gains • CSOV TCE rate is based on • Offshore wind project CAPEX is projected to reach a record US
Slide 30: Offshore wind and oil & gas TCE/day in USD
Offshore wind and oil & gas INDUSTRY WIDE CSOV RATES 81,750 CSOV fixed Rate (USD) 76,300 65,400 54,500 59,950 49,050 59,950 43,600 43,600 Sector rates Q3 2024: 38,150 CSOV 32,700 32,700 32,700 27,250 27,250 27,250 +68% 21,800 21,800 21,800 16,350 16,350 Q3 ‘10-year’ average: 35,673 CSOV 2015 Q1 2015
Slide 31: Marine division market dynamics
Marine division market dynamics TANKERS DRY-BULK CONTAINER CHEMICAL OFFSHORE WIND • Tonne-mile Crude oil: • Tonne-mile Capesize: • TEU-mile: • Tonne-mile: +2.7% in 2024 +5.1% in 2024 +17.0% in 2024 +4.0% in 2024 • Today, 76 GW of +2.6% in 2025 -0.1% in 2025 -7.8% in 2025 +2.7% in 2025 offshore wind
Slide 32: Marine Division NB delivery fleet list
Marine Division NB delivery fleet list Hull Type Yard Date Hull Type Yard Date HN5088 Suezmax tanker Daehan Shipbuilding Co., LTD Q4 2024 CMYZ0122 26K DWT ch. tanker China Merchants Jinling Shipyard, YangZhou Q1 2026 BC210k-34 Newcastlemax CSSC Qingdao Beihai Shipbuilding Co., Ltd Q4 2024 TK300K-1 V
Slide 33: Conclusion & Q&A
CONCLUSION & Q&A
Slide 34: Conclusion
Conclusion POSITIVE OUTLOOK 2024 SHAREHOLDERS STRONG PORTFOLIO AND BEYOND • Large exposure to favorable tanker • Investing for long term earnings and dry-bulk fundamentals – • Profit of USD 98.1 million in Q3 growth already today and gradually increasing 2024 (USD 0.49 per share) – over the coming m
Slide 35: Joris Daman – Head of Investor Relations and ESG
JORIS DAMAN joris.daman@cmb.tech HEAD OF INVESTOR RELATIONS AND ESG +32 498 61 71 11