StealthGas (GASS) investor relations material

Executive summary

• Q2 2026 revenues were $42.9 million, stable sequentially but down from $47.2 million year-over-year.

• Net income for Q2 2026 was $17.3 million, up from Q1 but below $20.4 million in Q2 2025.

• Earnings per share for Q2 2026 was $0.46; for the first half, $0.89.

• Maintained a diversified fleet with increased period charter coverage and reduced spot market exposure.

• Completed deleveraging, resulting in zero debt and enhanced financial flexibility.

Financial highlights

• Time charter equivalent rate was $15,710 per vessel per day in Q2 2026.

• Operating expenses were $12.8 million for Q2 2026, averaging $5,310 per vessel per day.

• Voyage expenses rose to $7.2 million due to higher bunker and insurance costs.

• Cash and term deposits exceeded $250 million after insurance proceeds.

• Shareholders' equity increased by $36.5 million (+5.3%) in the first half of 2026.

Outlook and guidance

• About 60% of fleet days for the remainder of 2026 are secured on period charters, with over $90 million in contracted revenues.

• Board reviewing options for deploying record liquidity, focusing on long-term shareholder benefit.

• Expect strengthening market conditions in winter following typical summer seasonality.