Pelagic Credit (PLGC) investor relations material

Executive summary

• Listed on Euronext Growth Oslo, focused on yield-oriented maritime credit with contracted cash flows, robust downside protection, and a conservative investment approach.

• Completed IPO in March 2026, raising $75 million in gross equity proceeds.

• Achieved first quarter as a listed company, with strong execution pipeline and predictable cash flows.

• Portfolio includes four vessels across two transactions, structured with five-year firm periods and purchase options or obligations.

• Strategy centers on stable, contracted cash flows and disciplined investment in maritime credit.

Financial highlights

• Q1 2026 gross earnings of $2.3 million and net profit of $900,000.

• Cash balance at quarter-end was $48.7 million; equity ratio at 65%.

• Gross charter backlog of $65 million, with an average remaining contract duration of 4.7 years.

• Basic and diluted EPS for Q1 2026 was $0.057.

• Total interest-bearing debt at quarter-end: $40.0 million.

Outlook and guidance

• Most IPO proceeds expected to be deployed within 2026, assuming scheduled execution of additional vessel transactions.

• Quarterly dividend distributions planned to commence after Q2 2026.

• Well positioned to expand investment portfolio and deploy capital into new maritime transactions.

• Ongoing geopolitical conflicts create market uncertainty, but no direct exposure to affected regions.

• Strong increase in client demand expected to convert to firm transactions in coming quarters.