Seanergy Maritime Holdings (SHIP) investor relations material

Executive summary

• Achieved record Q2 and H1 2026 results, with Q2 net revenue of $55.7M, adjusted EBITDA of $41.5M, adjusted EPS of $1.32, and H1 net revenue of $97.8M, adjusted EBITDA $69.6M, and adjusted EPS $1.96, all up significantly year-over-year, driven by strong Capesize market conditions and disciplined execution.

• Declared a $0.35/share dividend, a 75% increase over the previous quarter, marking the 19th consecutive quarterly dividend and $108.4M returned to shareholders since 2021.

• Committed $591M to fleet renewal, including $130M for two Japanese-built Capesize vessels for 2029 delivery, and completed the sale of an older vessel.

• Completed inaugural €100M unsecured corporate bond in Greece, more than 2x oversubscribed, diversifying funding sources.

Financial highlights

• Q2 2026 net revenues increased to $55.7M from $37.5M year-over-year; adjusted EBITDA $41.5M; net income $26.2M, adjusted net income $28.5M; GAAP EPS $1.21, adjusted EPS $1.32.

• H1 2026 net revenues $97.8M, adjusted EBITDA $69.6M (up 165% YoY), net income $35.9M, adjusted net income $42M; GAAP EPS $1.67, adjusted EPS $1.96.

• TCE for Q2 2026 was $32,355/day and $28,244/day for H1 2026, up 63% and 69% YoY, respectively.

• Operating cash flow margin approximately 44%; adjusted EBITDA margin about 70%.

• Ended Q2 with $59.5M in cash and restricted cash, despite $73M invested in fleet renewal during H1.

Outlook and guidance

• Capesize market outlook for H2 2026 remains constructive, supported by resilient commodity demand, constrained fleet supply, and forward fixed-rate charter coverage.

• Approximately 55% of H2 2026 ownership days fixed at $30,800/day, providing earnings visibility and downside protection.

• Q3 2026 TCE guidance is $31,000/day, with about 71% of available days already fixed.

• Full-year 2026 EBITDA projected at ~$138M under current FFA scenario, with further upside in stronger markets.

• Fleet renewal program is fully funded, supporting earnings capacity from 2027 onward.