Global Ship Lease (GSL) Investor presentation summary

Financial performance and contracted revenue

• Reported 2Q 2026 revenue of $198.7 million and 1H 2026 revenue of $396.8 million.

• Net income reached $89.3 million for 2Q and $180.7 million for 1H 2026.

• Adjusted EBITDA was $131.4 million for 2Q and $264.6 million for 1H 2026.

• Added $1.45 billion in contracted revenues in 1H 2026, with total contract cover at $3.2 billion and 3.3 years TEU-weighted average.

• Annualized dividend increased to $2.50 per common share, with quarterly dividend at $0.625.

Fleet renewal and newbuild strategy

• Contracted 15 newbuild mid-size, ultra-high reefer, wide-beam containerships for $1.33 billion, delivering 4Q28–1Q30.

• Over 75% of contract price covered by charters ex-yard, expected to generate $1.0+ billion in adjusted EBITDA.

• Average firm charter term is 7.1 years, with extension options at a 25% rate premium for 5 newbuilds.

• Funding for newbuilds expected from a mix of cash and debt, with over 50% of payments due at delivery.

• Monetized older assets by selling four ships for $65.5 million, anticipating a $33 million gain.

Market fundamentals and sector outlook

• Mid-size and smaller containership segments are aging, with median age of oldest quartile ranging from 21–28 years.

• Sub-10,000 TEU fleet has seen under-investment, creating renewal opportunities as demand grows for flexible ships.

• Global containership orderbook is growing, but sub-10,000 TEU segment shows only 0.7% implied net growth through 2030 if older ships are scrapped.

• Market fundamentals remain supportive for targeted fleet segments despite overall orderbook growth.

• Decarbonization regulation uncertainty reduces the value of delaying fleet renewal.