Dht Holdings, Inc. · NYSE:DHT

Dht — Q1 2025 Earnings Presentation

14 slides from Dht's earnings presentation, May 7, 2025

  1. Slide 1: Q1 2025 Earnings Presentation

    YW) = i Y) LLJ faa Lf) AN © ~N jaa ba [aa — ) of ce LL.

  2. Slide 2: Disclaimer: Forward Looking Statements

    DISCLAIMER Forward Looking Statements This presentation contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events, in particul

  3. Slide 3: Q1'25 Financials: P&L Highlights

    Q1’25 Financials P&L HIGHLIGHTS Q1 2025 Average TCE Q1 2025 $ Thousands, except per share  $36,300/d Spot Revenues on TCE basis $ 79,337  $42,700/d Time-charter Vessel operating expenses $ (17,828)  $38,200/d Fleet average G&A $ (5,548) Adj. EBITDA $ 56,370 Interest expenses $ (5,106) Gain/(loss)

  4. Slide 4: Balance Sheet Highlights

    Q1’25 Financials BALANCE SHEET HIGHLIGHTS Total liquidity of $277 million $ Thousands As per 31.03.2025  Cash $ 80.5 million Cash $ 80,510  RCF availability $ 196.2 million Other current assets $ 91,525 Vessels $ 1,158,750 Advances for vessels under construction $ 120,679 Other assets $ 6,574 Tota

  5. Slide 5: Q1 2025 Cash Flow Highlights

    Q1’25 Financials Q1 2025 CASH FLOW HIGHLIGHTS Cash Bridge Q1 2025 $m 200 175 150 56.4 -13.6 -5.8 125 -27.3 42.5 -32.4 100 -25.8 5.2 3.2 75 121.0 115.1 50 87.8 80.5 78.1 78.1 72.1 72.1 77.3 62.0 62.0 25 0 31/12/24 Cash EBITDA Debt Cash interest Dividend Investment in Net proceeds Prepayment Change in

  6. Slide 6: Quarterly Highlights

    Business Update QUARTERLY HIGHLIGHTS  DHT Scandinavia, built 2006, sold • Sold for $43.4 million • Capital gain of $19.8 million booked in Q1 2025 • Delivered in January 2025 to her new owners • Proceeds will be allocated to general corporate purposes, hereunder: • Investments in vessels • Share bu

  7. Slide 7: Capital Allocation

    Q1’25 Financials CAPITAL ALLOCATION Cash dividend of $0.15 per share  Equals capital allocation policy: 100% of ordinary net income  The 61st consecutive quarterly cash dividend  The shares will trade ex-dividend May 21, 2025  Cash dividend since dividend policy update from Q3 2022: $2.51 per sh

  8. Slide 8: Q2 Outlook

    Business Update Q2 OUTLOOK Estimated Q2 2025 Total term time-charter days 780 Average term time-charter rate ($/day)* $42,200 Total spot days for the quarter 1,245 Spot days booked to date / % of total spot days 895 / 72% Average spot rate booked to date ($/d) $48,700 Spot P&L break-even for the qua

  9. Slide 9: Fleet Update

    Business Update FLEET UPDATE  DHT Appaloosa, built 2018, fixed on a 7-year time-charter • Global energy company • Fixed base rate of $41,000 per day • + an index-based profit-sharing structure calculated on the vessel’s specifications • Index based earnings in excess of $41,000 to be shared equally

  10. Slide 10: Fleet Employment

    Business Update Fleet Employment 2025 2026 Q2 Q3 Q4 Q1 Q2 Q3 Q4 DHT Addax DHT Antelope DHT Gazelle DHT Impala DHT Appaloosa DHT Mustang DHT Bronco DHT Colt DHT Stallion DHT Tiger DHT Harrier DHT Puma DHT Panther DHT Osprey DHT Lion DHT Leopard DHT Jaguar DHT Taiga DHT Opal DHT Sundarbans DHT Redwood

  11. Slide 11: Corporate Update

    Business Update CORPORATE UPDATE  Acquired remaining 46.8% ownership of Goodwood Ship Management Pte. Ltd. • Goodwood now owned 100% by DHT • Purchase price of $6.1 million  Continued focus to deliver safe and reliable operations to the highest standards May 7, 2025 11

  12. Slide 12: Financing Update

    Business Update FINANCING UPDATE  Entered into $30 million secured reducing revolving credit facility • Nordea as bilateral lender • Refinancing existing Danish Ship Finance Credit Facility for DHT Jaguar, built 2015 • “DHT-style” financing including 6-year tenor and 20-year repayment profile • SOF

  13. Slide 13: Market Commentary

    Market Update MARKET COMMENTARY VLCC Fleet #VLCCs VLCCs end-2026: 70  15+ years: 441 / 47%  20+ years: 199 / 21%  25+ years: 58 / 6% 60 Newbuilding orderbook 50  11% (100 VLCCs) • 2025: 5 VLCCs 40 • 2026: 28 VLCCs • 2027: 48 VLCCs • 2028: 19 VLCCs 30 140 VLCCs in the Shadow Fleet 20  102 Sancti

  14. Slide 14: Q&A

    Q&A May 7, 2025 14

DHT Holdings — Q1 2025 Earnings Presentation on 6ix