Capital Tankers (CAPT) investor relations material

Executive summary

• Achieved strong Q2 2026 earnings with revenues of $149 million, net income of $93 million, and EPS of $0.70, supported by a modern, eco-friendly fleet and high TCE rates.

• Delivered nine vessels since April, expanding the fleet to 15 tankers by August 2026, with further growth planned to 33 vessels by Q2 2028.

• Acquired three VLCC newbuilding contracts at $122.7 million each, significantly below recent resale values, supporting value accretion.

• Declared a NOK 3.00 per share dividend for Q2 2026, reflecting robust results and shareholder focus.

• Ongoing plans for uplisting to Oslo Børs and future U.S. listing to enhance liquidity and shareholder appeal.

Financial highlights

• Q2 2026 total revenues reached $149 million, up from $35 million in Q1; adjusted EBITDA was $104.2 million, and net income was $93 million.

• TCE revenue was $114 million, with fleetwide daily TCE earnings of $116,260.

• Cash and cash equivalents stood at $357 million; net debt position was $167 million.

• Total interest-bearing debt was $523.9 million as of June 30, 2026.

• Shareholders’ equity increased to $2,061.3 million, up $451.5 million from Q1 2026.

Outlook and guidance

• 78–79% of Q3 2026 available/spot days already covered at an average TCE of $114,000–$115,268 per day.

• Fleet expansion to 17 vessels by November 2026 and 33 by Q2 2028, with options for 13 additional vessels.

• Growth program fully funded under moderate leverage, with $930 million in financings in progress and $86 million excess funding projected.

• Market volatility expected to persist due to geopolitical tensions and fleet repositioning.

• IEA forecasts global oil demand growth of 2.4 mb/d in 2027, with supply growth outpacing demand.