Dht Holdings, Inc. · NYSE:DHT
Dht — Q2 2026 Earnings Presentation
15 slides from Dht's earnings presentation, Aug 6, 2026
Slide 1: Second Quarter 2026 Results
SECOND QUARTER 2026 RESULTS August 6, 2026
Slide 2: Disclaimer
DISCLAIMER Forward Looking Statements This presentation contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events, in particul
Slide 3: Q2'26 Financials: P&L Highlights
Q2’26 Financials P&L HIGHLIGHTS Q2'26 $ Thousands, except per share Average TCE Q2 2026 Revenues on TCE basis $ 254,963 ▪ $126,700/d Fleet average Vessel operating expenses $ (18,579) ▪ $162,600/d Spot ▪ $90,800/d Time-charter G&A $ (5,594) Adj. EBITDA $ 230,984 Interest expenses $ (6,400) Net Incom
Slide 4: Q2'26 and H1'26 P&L Highlights
Q2’26 Financials P&L HIGHLIGHTS Q2'26 H1’26 $ Thousands, except per share Average TCE Q2 2026 Revenues on TCE basis $ 254,963 $ 412,166 ▪ $126,700/d Fleet average Vessel operating expenses $ (18,579) $ (37,704) ▪ $162,600/d Spot ▪ $90,800/d Time-charter G&A $ (5,594) $ (10,551) Adj. EBITDA $ 230,984
Slide 5: Balance Sheet Highlights
Q2’26 Financials BALANCE SHEET HIGHLIGHTS $ Thousands As per 30.06.2026 Cash $ 161,683 Total liquidity of $569.2 million Other current assets $ 124,267 ▪ Cash $161.7 million Vessels* $ 1,453,715 ▪ RCF availability $407.5 million Advances for vessels under construction $ 56,974 Other assets $ 11,337
Slide 6: Q2 2026 Cash Flow Highlights
Q2’26 Financials Q2 2026 CASH FLOW HIGHLIGHTS Cash Bridge Q2 2026 $m 400 375 231.0 -15.5 -4.6 -0.5 -103.1 350 325 300 275 250 -56.0 225 200 -7.2 -1.3 -7.3 175 341.7 337.1 336.6 150 125 233.5 100 177.5 170.3 169.0 161.7 161.7 75 126.2 126.2 50 25 0 31/03/26 Cash EBITDA Debt Cash interest Proceeds fro
Slide 7: Quarterly Highlights
Business Update QUARTERLY HIGHLIGHTS Record-breaking Q2 2026 performance: ▪ Highest quarterly net profit in DHT’s history: $198.3 million ▪ Strong tanker market conditions and commercial execution ▪ First-half 2026 net profit of $362.9 million surpassed the previous full-year net profit record of $2
Slide 8: Subsequent Events
Business Update SUBSEQUENT EVENTS New time charter contract ▪ DHT Jaguar, built 2015 ▪ 3-year time charter at $75,000 per day ▪ Delivery September 2026 DHT Bauhinia, built 2007, sold and delivered to its new owners in July 2026 ▪ Cash proceeds of $51M and a total capital gain of $34.2M Newbuilding
Slide 9: Capital Allocation
Q2’26 Financials CAPITAL ALLOCATION Cash dividend of $1.22 per share ▪ Equals capital allocation policy: 100% of ordinary net income ▪ The 66th consecutive quarterly cash dividend ▪ The shares will trade ex-dividend August 17 ▪ Payable August 24 to shareholders of record August 17 P&L and cash break
Slide 10: Q3 Outlook
Business Update Q3 OUTLOOK Estimated Q3 2026 Total term time-charter days 1,020 Average term time-charter rate ($/day)* $75,900 Total spot days for the quarter 1,029 Spot days booked to date / % of total spot days 600 / 58% Average spot rate booked to date ($/d) $152,700 Spot P&L break-even for the
Slide 11: 2026 Drydock Schedule
Business Update 2026 DRYDOCK SCHEDULE 7 vessels scheduled for drydock during 2026 ▪ Completed to date: • DHT Lion, DHT Osprey, DHT Panther and DHT Puma, 2nd SS/DD • DHT Amazon, 3rd SS/DD ▪ Remaining scheduled • DHT Harrier, 2nd SS/DD • DHT Redwood, 3rd SS/DD August 6, 2026 11
Slide 12: Current Market Dynamics
Market Outlook CURRENT MARKET DYNAMICS Continuing constructive market supported by the following primary drivers: ▪ Geopolitical Friction and Risk Premiums: • Longer trade routes due to hostilities • High-risk premiums for owners venturing into the Persian Gulf ▪ Structural Supply Consolidation: • T
Slide 13: Key Future Catalysts
Market Outlook KEY FUTURE CATALYSTS Several emerging trends warrant specific attention - expected to provide tailwinds: ▪ Conflict Resolution and Trade Normalization: • A resolution to the US-Iran conflict would likely transition Iranian volumes from the "shadow fleet" to compliant, independent oper
Slide 14: Strategic Positioning
Market Outlook STRATEGIC POSITIONING Balanced risk vs reward approach: ➢ Secured High-Margin Fixed Income: ➢ Term contracts across various tenors at highly profitable rates. ➢ Balanced Exposure Strategy: ➢ Meaningful spot market exposure remains to capture rate surges ✓ Disciplined capital allocatio
Slide 15: Q&A
Q&A August 6, 2026 15