Qatar Gas Transport Co. · QSE:QGTS
Qatar Gas Transport — Nakilat — Q1 2026 Earnings Presentation
22 slides from Qatar Gas Transport's earnings presentation, April 2026
Slide 1: 1Q26 Financial Results
Nakilat 1Q26 FINANCIAL RESULTS IR Presentation – April 2026 2026
Slide 2: Forward Looking Statements & Disclaimer
Forward Looking Statements & Disclaimer All statements in this presentation (other than those of historical fact) contain reference to our future business and financial performance and future events or developments that may constitute forward-looking statements. These statements may be identified by
Slide 3: Agenda
Agenda 13. Net Borrowings 16 1. Nakilat at a Glance 4 14. Nakilat’s Vessels Newbuild 17 2. Investment Thesis – Key Strengths 5 15. Dividends (2017 – 2025) 18 3. Nakilat’s Fleet in Operation 6 16. Our Journey Towards Sustainability 19 4. Accelerating our Fleet Growth Strategy 7 17. Closing Remarks 20
Slide 4: Nakilat at a Glance
Nakilat at a Glance Established in 2004, Nakilat is a shipping and maritime Shipyard • Fabrication, conversion, maintenance & company based in the State of Qatar industrial engineering • Marine vessels, rigs, offshore & onshore One of the world’s largest shipping fleets structures • Fabrication offs
Slide 5: Investment Thesis – Key Strengths
Investment Thesis – Key Strengths Nakilat is a low-risk player in LNG/energy transportation and provides highly attractive risk-adjusted long term returns for its shareholders Leading Operating Capability Attractive Shareholder Returns • Having over 15 years of experience in LNG shipping has allowed
Slide 6: Nakilat's Fleet in Operation
Nakilat’s Fleet in Operation Wholly & Jointly-Owned Fleet in Vessels' Type / Propulsion 35 Operations 35 31 30 29 30 25 25 Number of Vessels Number of Vessels 20 19 20 14 15 15 10 9 10 10 7 5 5 4 4 2 2 2 3 1 1 2 2 1 1 0 0 6 1Q26 Financial Results Presentation 2026
Slide 7: Accelerating our Fleet Growth Strategy
Accelerating our Fleet Growth Strategy Leading Ship Building Partnerships: Hyundai Samho Heavy Industries, Hyundai Heavy Industries & Hudong-Zhonghua FLEET EXPANSION • Nakilat continues to expand its world-class LNG fleet through Newbuilds for delivery strategic partnerships with three of the most a
Slide 8: Ship Building Project Management Office
Ship Building Project Management Office Nakilat Launches New Project Management Office in South Korea to Oversee Ship Building Project Nakilat Korea Ltd. has inaugurated a new project management office in South Korea, marking a strategic enhancement of Nakilat's oversight and involvement the histori
Slide 9: Health and Safety
Health and Safety Consistent strong focus on health & safety KPIs Leading with HSE Lost-Time Injury Rate (LTIF)1 0.39 0.37 0.30 0.23 0.19 0.18 0 2020 2021 2022 2023 2024 2025 2026 1Q26 Total Recordable Case Frequency (TRCF)2 1.11 1.14 1.01 0.63 0.59 0.45 0.23 2020 2021 2022 2023 2024 2025 2026 1Q26
Slide 10: Projected Liquefaction Capacity Until 2031
Projected Liquefaction Capacity Until 2031 Projected Liquefaction Capacity Projects with further capacity of 116 MTPA possible to become operational next 6 years incl., Ksi Lisims LNG, Costa Azul LNG Phase 2 and Lake Charles Export 900 223 MTPA of Liquefaction capacity currently under construction a
Slide 11: 1Q26 - LNG Shipping Market Update
1Q26 - LNG Shipping Market Update Despite recent market trends, Nakilat remains unaffected given long-term, high-quality charter contracts driving a continued upward trend of profitability Multi-Month (3-6) LNG Shipping Rates 12 Months Average Spot DFDEs Charter Rates 121,000 174kcbm MEGIs 160kcbm D
Slide 12: 1Q26 - LNG Shipping Supply – LNGC Newbuild Price
1Q26 - LNG Shipping Supply – LNGC Newbuild Price Development of Global LNG Historic LNGC Newbuild Price Carriers Fleet* (2019 - 2031e) 2006 - 2026 10 6 270 1100 39 MEGI/XDF 1000 72 260 81 900 250 90 800 240 In Millions (USD) Number of LNG Ships Average Price 700 230 ~$208m 1,100 600 1,090 220 1,051
Slide 13: Executive Summary 1Q26
Executive Summary 1Q26 Q1 2026 Key Financial Highlights QAR 1.21B QAR 898M QAR 439M Total Income ~8.7% YoY EBITDA1 ~1.6% YoY Net Profit ~1.3% YoY QAR 0.08 QAR 12.9% QAR 1.69 EPS ROE2 Current Ratio Q1 2026 Key Business Highlights & Milestones • Total income increased by ~8.7% Primarily driven by cons
Slide 14: Financial Summary – Income Statement
Financial Summary – Income Statement Sustained growth underpinned by value-focused investments and continuous enhancements in efficiency. (QAR) Q1 26 Q1 25 YoY% Q1 2026 Financial Highlights Revenue From ~ Due to the consolidation of LPG vessels & Qatar Shipyard Technology Solutions, not present in c
Slide 15: Financial Summary – Balance Sheet
Financial Summary – Balance Sheet Sustained growth underpinned by value-focused investments and continuous enhancements in efficiency. (QAR) Q1 26 Q4 25 YoY% Q1 2026 Financial Highlights ~ Property and equipment 26.72B 25.72B +3.9% Primarily driven by continued installments for the new-build program
Slide 16: Net Borrowings
Net Borrowings Net Borrowings (FY'16 to 1Q'26) QAR in Billions 22.2 21.4 21.2 21.0 20.6 19.8 19.8 19.9 19.5 18.8 17.6 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'25 1Q'26 Net Total Borrowings Expansion programme commences % Group Debt Balance of QAR 22.2B *In 2024, Nakilat’s group debt
Slide 17: Nakilat's Vessels Newbuild
Nakilat’s Vessels Newbuild 14 Total Shipbuilding Commitment2,500,000,000 ~ $9.7Bn 12 $1.9 - $2.2 Bn 2,000,000,000 10 $1.5 - $1.7 Bn $1.3 - $1.5 Bn 1,500,000,000 8 $0.9 - $1.1 Bn 6 $0.9 - $1.1 Bn 1,000,000,000 $0.7 - $0.8 Bn $0.7 - $0.9 Bn $0.6 - $0.7 Bn 4 500,000,000 2 $0.2 - $0.3 Bn $0.2 - $0.3 Bn
Slide 18: Dividends (2017 – 2025)
Dividends (2017 – 2025) 1600.0% 14.4 14 14 1400.0% 13 12 1200.0% 11 7.2 2H25 10 10 10 7 2H24 1000.0% 800.0% 600.0% 1H25 1H24 400.0% 7 7.2 200.0% 0.0% 2017 2018 2019 2020 2021 2022 2023 2024 2025 Nakilat has distributed a total cash dividend of 14.4 Qatari Dirhams per share for the year 2025. 18 1Q26
Slide 19: Our Journey Towards Sustainability
Our Journey Towards Sustainability Commitment to Environmental Protection and Sustainability At Nakilat, we prioritize the protection of the environment in all our business operations as we are committed to minimizing harm and preserving our planet for future generations. We continually enhance our
Slide 20: Closing Remarks
Closing Remarks Stellar profitability results (~1.3% Nakilat’s EBITDA reached QAR 898 Nakilat’s resilient business model YoY), momentum continues million provides the flexibility to navigate sustainably through volatile markets and geopolitical uncertainty Nakilat has distributed a total cash Maximi
Slide 21: Q&A
Q&A 1Q26 Financial Results Presentation 2026
Slide 22: Thank You
For Investor Relations inquiries please contact: Fotios Zeritis Head of Investor Relations & ESG Reporting fzeritis@nakilat.com www.nakilat.com THANK YOU 1Q26 Financial Results Presentation 2026