Slides
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Q4 2025 EARNINGS CALL Constantin Baack, CEO Moritz Fuhrmann, Co-CEO and CFO February 24, 2026
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| |MPC Container Ships 2Q4 2025 Earnings Presentation 01 HIGHLIGHTS 02 MARKET UPDATE 03 COMPANY OUTLOOK AGENDA
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| |MPC Container Ships HIGHLIGHTS: » Forward fixing activity extends visibility, building a strong backlog with 97% of open days covered in 2026, 58% in 2027 and 35% in 2028 » Quarterly dividend of USD 0.05 per share, corresponds to 50% of adjusted net profit » Entered into contracts for the construction of six 3,700 TEU vessels, with 10-year time charters, to a top 5 liner company » Asset values and charter rates remained strong, supported by tight vessel supply FOR 2026: » Resilient charter market despite geopolitical and macroeconomic uncertainty » Execution of newbuilding programme, capitalize on favourable market opportunities and continue to build strong partnerships » FY 2026 financial guidance for revenues of USD 450m – 460m and EBITDA of USD 240m – 260m 3 EXECUTIVE SUMMARY 2025 OPERATING REVENUES Q4 2025 Earnings Presentation USD 518m 2025 ADJUSTED EBITDA USD 306m 2025 DIVIDENDS PER SHARE USD 0.23 REVENUE BACKLOG USD 2.0bn HIGHLIGHTS
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| |MPC Container Ships 4 FINANCIAL AND OPERATIONAL PERFORMANCE Q4 2025 Earnings Presentation PROFIT OR LOSS BALANCE SHEET FINANCIAL KPIs OPERATIONAL KPIs Q4 2025 Q4 2024 FY 2025 FY 2023 Gross Revenues USD m 127.0 130.0 517.8 540.9 Adj. EBITDA USD m 76.0 72.3 306.1 325.1 Adj. Net Profit USD m 45.9 50.7 198.9 243.1 Q4 2025 Q4 2024 FY 2025 FY 2024 Total assets USD m 1,526.6 1,231.3 1,526.6 1,231.3 Net Debt USD m 149.0 211.2 149.0 211.2 Leverage ratio % 33.0 27.9 33.0 27.9 Q4 2025 Q4 2024 FY 2025 FY 2024 Adj. EPS USD 0.10 0.11 0.45 0.55 DPS USD 0.05 0.09 0.23 0.42 Op. Cash Flow USD m - - 302.1 323.9 Q4 2025 Q4 2024 FY 2025 FY 2024 Adj. Average OPEX 1 USD/day 7,219 7,666 7,545 7,247 Adj. Average TCE USD/day 25,551 25,190 25,940 26,441 Utilization 2 % 98.1 97.4 97.0 97.8 1 Adj. OPEX per day calculated as reported OPEX - tonnage taxes and reimbursements divided by no.of ownership days 2 Utilization calculated as total trading days including off-hire days related to dry-dockings divided by no. of ownership days
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| |MPC Container Ships » Avg. hire of USD ~22,500 per day based on an avg. duration of ~25 months1 » One further fixture concluded in Jan 2026 : 5 OPERATIONAL REVIEW 2025 AND 2026 YTD Q4 2025 Earnings Presentation VESSEL TEU CHARTERER CHARTER RATE2 PERIOD2 AS Christiana 2,800 grd Emirates Line 27,450 23-26 » Total sales proceeds of USD ~151m » Asset sales translate to an implied NAV of NOK ~30-35 per share » Vessel's sold are on avg. built in 2007 with an avg. size of ~1,500 TEU FIXTURES VESSELS SOLD » USD ~8m invested into hydrodynamic measures and energy efficiency technologies » Leading to expected efficiency gains of up to 25% RETROFITS » Multi-year charter contracts with top tier counterparties » Newest designs optimizing speed and fuel consumption, prepared for alternative fuels » USD ~850m Construction Capex vs. USD ~830m secured3 » Avg. age of ~8y after initial charter providing long-term upside NEWBUILDINGS 16 Newbuildings 12 Retrofits 20 Fixtures 11 Sales 1 Based on max. period 2Charter rate in USD per day and Period in months 3 Secured EBITDA plus Recycling Value of USD 400 per LWT
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| |MPC Container Ships 6 FLEET TRANSFORMATION WELL UNDERWAY THROUGH ATTRACTIVE NEWBUILDS Q4 2025 Earnings Presentation NEWBUILDINGS SIGNIFICANTLY DE-RISKED, WHILE RETAINING NOTABLE UPSIDE POTENTIAL Strong De-Risking » Newbuilding Capex mitigated by initial multi year charter employments & contracted revenues Staggered Orderbook » From an employment perspective - good re-employment distribution High Upside Future Potential » Significant tail-end-value kept High Execution Competence » Ability to structure and execute on employment backed newbuilding transactions Continuation of the Fleet Renewal Program » Accelerated fleet transition well advanced through further NBs Preferred Tonnage Provider » Testament to MPCC being is the preferred partner for leading liner operators Capex NB EBITDA & Recycling Value NBs Potential Upside USD ~850m USD ~720m USD ~110m 17 vessels with Ø age of ~8y after initial charter # NBs under construction 1x 1,300 TEU DF 2x 1,600 TEU 8x 4,500 TEU 6x 3,700 TEU In USDm EBITDA Recycling Value
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| |MPC Container Ships PORTFOLIO OPTIMIZATION ADVANCING 7Q4 2025 Earnings Presentation 1 Includes Newbuildings, Eco Design vessels and vessels that received a retrofit of the Bulbous Bow and a new Propeller and Boss Cap Fin and/or Pre-Swirl Device & Silicon Paint (Major retrofits). ~200 individual retrofit measures have been concluded on a range of 27 vessels. Includes NBsbeing delivered between 2026 - 2028 61 2021 2022 2023 2024 2025 62 59 59 68 ECO Conventional 75% Fleet Eco Share 1 based on TEU 20152007 DEVELOPMENT OF ECO PORTFOLIO COMPOSITION (Vessels) FLEET RENEWAL STRATEGY USD ~1.4bn Investment Program NEWBUILDING PROGRAM 21x highly efficient & DF vessels (USD ~1.1bn) 1 ACQUISITION OF ECO-VESSELS 9x young, ECO vessels (USD ~300m) 2 RETROFIT INVESTMENTS Hydrodynamic & Energy Efficiency measures on more than 20 vessel (USD ~35m) 3 CONVENTIONAL VESSELS Continue to create long term value via retrofits, and balancing continued trading and further divestments 4 Avg. year built Avg. year built
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| |MPC Container Ships CASH FLOW BRIDGE FOR Q4 2025 8 CONTINUED GOOD CASH GENERATION SUPPORTS FLEET RENEWAL AND DIVIDE NDS Q4 2025 Earnings Presentation 1) Based on dividend declared on November 27, 2025 2) Adjusted for short-term money-market instruments (USD 70.5m) 417 42575 Cash & cash equivalents Q3 2025 Operating cash flow -15 Investing cash flow -15 Finance cost -16 Debt repayments drawdowns -22 Dividends 1 Cash & cash equivalents Q4 2025 2 Financing cash flow USD million » Investing Cash flow mirrors our continuous fleet renewal program: » Yard instalments of USD ~10m related to 2x 1600 TEUs HC vessels » Investment in vessels on the water (upgrades and regulatory) of USD ~8m » Offset by interest received from investment activities » Financing cash flow reflects: » USD ~2m refinance of paid instalment for 1,300 TEU DF newbuilding » Arrangement of RCF extension » Scheduled repayments and interest payments » Payment of MPCC’s 16th consecutive recurring dividend
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| |MPC Container Ships » 1st installment for newbuildings signed in Q425 will be paid out of existing cash = re- investment of vessel sales proceeds » Successful extension of RCF with revised maturity in Dec 2030 and increased capacity of USD 130m3 » USD 477m in pro-forma liquidity available (including undrawn RCF capacity3) » Beyond ample liquidity, the balance sheet remains conservatively structured with high degree of flexibility » 32 vessels are debt free with a fair market value of USD ~780m, while total leverage ratio is 33.0% » -35.5% reduction of debt costs since Q3 20221 » Substantial progress toward Sustainability Performance Target commitments achieved (-16.5%) ROBUST CAPITAL STRUCTURE TO SUPPORT FUTURE GROWTH Q4 2025 Earnings Presentation 9 COMMENTS LEVERAGE RATIO 33.0% DEBT-FREE VESSELS 6 # 32 FMV OF DEBT-FREE VESSELS USD ~780m 1 Based on weighted average senior secured debt margin in per cent p.a.on the relevant reporting date 2 6x 3,700 TEU and 4x 4,500TEUs first installment (15% of contract price) 3 Remains subject to successful closing in 02/2026 4 Outstanding interest-bearing debt as per 23 February 2026, excl. debt arrangement cost and accruals 5 Fleet Value based on charter-free values from VesselsValue.com dated 20 February 2026, excl. newbuildings, but including vessel held for sale 6 Includes vessels under current RCF, but excludes newbuildings 425 347 472 Liquidity Q4 2025 -79 NB installments2 130 Undrawn RCF 3 130 Pro-Forma Liquidity Gross Debt 4 FMV Fleet 5 477 1,536USD million BALANCE SHEET STRENGTH
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| |MPC Container Ships 10Q4 2025 Earnings Presentation 01 HIGHLIGHTS 02 MARKET UPDATE 03 COMPANY OUTLOOK AGENDA
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| |MPC Container Ships UNCERTAINTY REMAINS ELEVATED MACROECONOMY GEOPOLITICAL FLASHPOINTS CONTAINER MARKET 0 100 200 300 400 500 600 700 Global Economic Policy Uncertainty Index 2000 9/11 2002 2004 2006 2008 GFC 2010 2012 2014 2016 2018 2020 Pandemic 2022 Attack on Ukraine 2024 -15 -10 -5 0 5 10 15 % 3.7 2018 2.9 2019 -2.7 2020 6.6 2021 2022 2023 2024 3.3 2025 (e) 3.3 2026 (f) 3.2 2027 (f) World 1.2 10.9 4.1 2.6 3.1 0.8 -15 -10 -5 0 5 10 15 % 0.6 2019 -8.4 -1.2 2020 2021 2022 2023 2024 1.5 2025 (e) 1.9 2026 (f) 2027 (f) World Trade Volume (Goods and Services) World Seaborne Trade (Tonne-Miles) » World trade volume is forecasted to grow at an average rate of 2.9 % in 2026–27 which is lower than the 4.1% growth rate currently expected for 2025. » Global GDP projected to grow by 3.3% in 2026 and 3.2% in 2027 » 2026 trade demand could see a bullwhip-effect leading to reduced demand after a strong 2025 Q4 2025 Earnings Presentation » Rising trade tensions and protectionist policies continue to disrupt global supply chains » Strategic bottlenecks (e.g., Suez) remain vulnerable to political instability and security threats Data Sources: International Monetary Fund, World Economic Outlook Update, January 2026; Clarksons Research, January 2026 ; UNCTAD World Investment Report 2025 Economic Policy Uncertainty Index 11
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| |MPC Container Ships CARRIERS CONTINUE TO CHASE FREIGHT AND CAPACITY AT THE SAME TIME CHARTER RATES UNIMPRESSED BY VOLATILE FREIGHT RATES SECONDHAND AND NEWBUILD PRICES REMAIN ELEVATED » Forward availability has remained low going into 2026 » Howe Robinsons’ latest monthly availability statistics show that the number of ships coming open during the next 1-6 months is 25% lower than at the same period last year. » Charter rates continue to plateau at elevated levels as carriers continue to fight for capacity » Freight rates are above historical averages, but some ocean carriers have reported negative margins for Q4 2025, while other liners remained profitable Q4 2025 Earnings Presentation » Secondhand units remain in strong demand from carriers, driving the asset prices » Newbuild prices remain stable Data Sources: Clarksons Research, February 2026; Harper Petersen, February 2026; Howe Robinson, January 2026. Jul-23 Jan-24 Jul-24 Jan-25 Jul-25 Jan-26 0 500 1,000 Jan-23 2,000 2,500 3,000 3,500 4,000 0 1,000 2,000 3,000 4,000 1,500 HARPEX SCFI 1,251 2,206 SCFI HARPEX Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26 30 40 50 60 Jan-20 80 90 100 110 120 130 140 150 70 Index +18% -3% 2nd Hand Price Index Containership Newbuilding Prices Index FORWARD AVAILABILITY REMAINS LOW 0 200 400 600 800 1,000 1,200 No. of Vessels Jan.- 20 Jan- 21 Jan- 22 Jan- 23 Jan- 24 Jan- 25 Jan- 26 -25% Available in the next 6 months 12
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| |MPC Container Ships RE-ARRANGEMENT OF GLOBAL TRADE FLOWS UNDERWAY Data Sources: IMF World Economic Outlook, January 2026; Container Trade Statistics, December 2025 Note 1) The effective tariff rate measures the actual, weighted average percentage of duties collected on total imported goods GROWTH RATES OF CONTAINER TRADEWHILE THE US IS ISOLATING, CHINA IS DIVERSIFYING Q4 2025 Earnings Presentation » Global container trade growth surpassed expectations in 2025, with total annual volumes estimated to have increased by approximately 5% year over year. » Although US-bound volumes declined, Asian exports to Europe and many developing economies remained strong as Chinese exporters expanded into new markets. » The effective tariff rate for the US has increased from below 4% in early 2025 to 18.5% now, while the rest of the world remained unchanged at 3.5%. » While the US is isolating, China is diversifying its exports to various markets. -1 0 1 2 3 4 5 6 7 8 mTEU year -on-year container trade 2025 versus previous year North American Imports Far East Exports -0.8 7.2 0 5 10 15 20 Effective tariff rates 1 US Rest of World 18.5 3.5 Y-o-Y %-Growth Global Far East - Europe Transpacific Far East - ME/ISC Far East - South & Central America Far East - Sub Saharan Africa 5.1 9.7 -2.7 16.1 15.5 26.6 13
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| |MPC Container Ships Low OB/fleet, relatively old fleet High OB/fleet, relatively young fleet 14 ORDERBOOK STILL NOT OFFSETTING FLEET RENEWAL NEED IN SMALLER SIZ ES Q4 2025 Earnings Presentation Source: Clarksons, February 2026. 0 10 20 30 40 50 60 70 80 90 0 5 10 15 20 25 30 % (20+ years) % (OB/fleet) 1-3k TEU 3-8k TEU 6-8k TEU 8-12k TEU 12-17k TEU >17k TEU » The replacement need for the fleet above 20 years in age, is not covered by the number of units in the orderbook for any size below 8,000 TEU » While more than 25% of vessels are 20 years and older in the MPCC core segments of 1,000-3,000 TEU and 3,000-6,000 TEU, the orderbook to fleet ratio is only at 12% and 22%, respectively. » The orderbook-to-fleet ratio is highest in the largest segment, while below 1% of the fleet is past 20 years in age. COMMENTS
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| |MPC Container Ships MARKET DRIVERS 15Q4 2025 Earnings Presentation US VOLATILITY » Constant back and forth of US trade policy announcements creates a volatile framework for container shipping markets RED SEA SITUATION » The timing of a return to the Red Sea remains highly uncertain despite the first the major liner vessel transits » A gradual return to the Red Sea may lead to excess capacity INTRA REGIONAL TRADE RESILIENCE » Far East container exports into emerging markets record consistent volume increases » Intra-regional trades have outperformed mainlane trades in 2025, with positive prospects for this year FLEET STRUCTURE AND ORDERBOOK » Despite the record high orderbook feeder segments remain underinvested with the sub-6,000 TEU fleet having a 12% orderbook-to-fleet ratio KEY TOPIC DESCRIPTION
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| |MPC Container Ships 16Q4 2025 Earnings Presentation 01 HIGHLIGHTS 02 MARKET UPDATE 03 COMPANY OUTLOOK AGENDA
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| |MPC Container Ships HIGH FORWARD CONTRACT COVERAGE Q4 2025 Earnings Presentation 17 22,443 BACKLOG OVERVIEW – AS PER FEB’26 USD 2.0bn / USD 1.2bn Forward charter backlog1,3,5 /Proj. EBITDA2,3,5 22,584 1) Based on min period; floor rate applied, if charter rate is index linked. Forward Charter Backlog excluding IFRS adjustments. Forward Charter Backlog as of 23 February 2026 assuming 97.5% utilization 2) Projected EBITDA based on Forward Charter Backlog reduced by operating costs of USD 8,510 per day and vessel (incl. voyage ex penditures / OPEX / G&As / Shipman). 3) Forward Charter Backlog / Periods / TCE’s / Costs in good faith, but indicative only and subject to changes. 4) Contracted Forward TCE based on Forward Charter Backlog divided by Fixed Days 5) Includes 17 NBs under construction as fixed vessels and one vessel sold subject to successful handover (in Q2 2026) DEVELOPMENT OF REVENUE BACKLOG LAST 12M 97% 58% 35% 42% 65% 3% FY 2026 FY 2027 FY 2028 Q4 24 Backlog 0.5 Realized Revenues 1.1 Added Backlog Forward Charter Backlog 1.1 2.0 0.3 existing fleet newbuilds23,167 USD billion Open days Fixed days Contracted Forward TCE4
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| |MPC Container Ships OVERVIEW OF UPCOMING CHARTER POSITIONS 18Q4 2024 Earnings Presentation 1 Upcoming vessels based on the minimum period. Including two vessels sold subject to successful handover. 2 Current TC rates and periods from Harper Petersen (as of January 2026) 15 15 FY 26 FY 27 68 68 2 15 7 3 3 7 Q1 26 Q2 26 Q3 26 Q4 26 FY 26 (min) FY 26 (max) Open vessels Fixed vessels NUMBER OF FIXED AND UPCOMING VESSELS1 TEU CHARTER RATE (USD /D) PERIOD (MONTHS) 1,300 ~ 19,500 ~ 18 1,700 ~ 22,250 ~ 18 2,000 ~ 24,000 ~ 18 2,500 ~ 26,900 ~ 24 2,800 ~ 28,800 ~ 24 3,500 ~ 30,700 ~ 24 CURRENT CHARTER MARKET LEVEL 1 25% 30% 20% 15FY 26 1,000-1,700 TEU 2,800-3,500 TEU2,000-2,500 TEU SIZE DISTRIBUTION OF OPEN VESSELS
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| STRATEGIC EXECUTION STRENGHTENING OUR POSITION & RESILIENCE 19MPC Container Ships | Q4 2024 Earnings Presentation PORTFOLIO & FLEET RENEWAL RELIABLE AND STRATEGIC PARTNER » Transformational but disciplined fleet renewal (charter-backed newbuilds) » Market opportunities captured with de- risked CAPEX » Modern fleet with ~USD 2bn revenue backlog » >100 vessel transactions executed » Customers: Strategic transactions deepened top-tier liner partnerships » Financing Partners: Funding base broadened further; high flexibility and improved terms » Shareholders: Continued to reward shareholders with double-digit dividend yield while preserving long-term value capacity » Investment Capacity: Strong, flexible balance sheet with high investment capacity 19 WHAT WE EXECUTED & WHERE WE STAND
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| |MPC Container Ships 20 2026 AND BEYOND: STRATEGIC EXECUTION STRENGTHENING OUR POSITION AND RESILIENCE Q4 2025 Earnings Presentation N S EW » BALANCED, CHARTER-ALIGNED FLEET RENEWAL » SELECTIVE PORTFOLIO OPTIMISATION (HIGH-GRADING THE FLEET) » OPPORTUNISTIC DEPLOYMENT OF CAPITAL IN VOLATILE MARKETS » CONTINUED FUNDING DIVERSIFICATION AND COST DISCIPLINE » DEEPENED STRATEGIC CUSTOMER PARTNERSHIPS » RELIABLE CAPITAL STEWARDSHIP AND SUSTAINED DISTRIBUTIONS » Balanced, charter-aligned fleet renewal » Selective portfolio optimization » Deepened strategic customer partnerships » Opportunistic deployment of capital in volatile markets » Continued funding diversification and cost discipline » Reliable capital stewardship and sustained distributions FORWARD FOCUS - WHAT YOU CAN EXPECT
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| |MPC Container Ships FINAL REMARKS Q4 2025 Earnings Presentation 21 » Enhanced charter coverage and strong backlog with USD 2.0bn secured, ensuring contract coverage for 2026 of 97%, 58% for 2027 and 35% for 2028 » Proactive fleet strategy divesting older vessels and renewing the fleet, reinforcing strategic positioning and long-term competitiveness » Shareholder value creation combining recurring distributions with attractive growth opportunities, creating long-term value » FY 2026 Financial Guidance revenues of USD 450m–460m and EBITDA of USD 240m–260m » Navigating an uncertain market outlook MPCC focuses on what we can control – leveraging on market opportunities, fleet transition with a robust balance sheet
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| QUESTIONS & ANSWERS Q4 2025 Earnings Presentation 22
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| |MPC Container Ships APPENDIX 23Q4 2025 Earnings Presentation
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| |MPC Container Ships 86% 4% 10% CHARTER BACKLOG SECURED IN TOP LINER COUNTERPARTS Q4 2025 Earnings Presentation 24 » 96% of revenue backlog with top 10 liners and cargo-backed » More than 3.6 years ² average remaining contract duration TOP 10 TOP 20 & REGIONAL ³ CARGO-BACKED 1) Ranking based on list of 100 largest container/liner operators by Alphaliner 2) Based on max period 3) Splitting in ~3.5% with top 20 Liner counterparts and ~0.5% Regional Liner counterparts
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| |MPC Container Ships Facility Type Pre-delivery Outstanding 31/12/25 Total capacity Interest rate # Repayment profile Maturity Deutsche Bank Green Term Loan Yes USD 52.6m USD ~54.5m 230bps + SOFR 2 semi-annual 22x 3.33% + 23.34% balloon Dec. 2037 Société Generale Green Term Loan Yes USD 2.0m USD 29.3m 210bps + SOFR 1 quarterly 28x USD 0.5m + USD 15.6m balloon Aug. 2033 KfW-IPEX Term Loan USD 46.6m USD 52.0m 190bps + SOFR 2 semi-annual 6 x 5.4m, 7x 1.8m + 7.1m balloon Mar. 2032 Development Bank of Japan / Shinsei Term Loan USD 13.8m USD 16.0m 175bps + SOFR 1 quarterly 5x 0.75m, 15x 0.28m + 5.9m balloon Mar. 2031 CA-CIB Term Loan Yes USD 70.2m USD ~101.0m 175 – 275bps + SOFR 2 quarterly 3x 5.7m + 4x 3.7m + 4x 1.4m1 Jun. 2031 HCOB RCF USD 0.0m USD 130.0m /0.0m 250bps + SOFR 16 commitment will be reduced starting in Mar 2026 Dec. 2030 Deutsche Bank Term Loan + accordion USD 42.5m USD 47.5m + USD 250.0m 200bps + SOFR 2 quarterly 9x 2.4m, 8x 1.7m + 14.5m balloon Jun. 2030 Nordic HY Bond Senior unsecured sustainability- linked USD 200.0m USD 200.0m 737.5bps n/a n/a Oct. 2029 First Citizen Bank Term Loan USD 24.0m USD 30.0m 195bps + SOFR 2 quarterly 10 x 1.5m + 7.5m balloon Oct. 2028 BoComm Sale & Lease back USD 26.2m USD 75.0m 260bps + SOFR 8 monthly 19x 0.25m + 21.0m balloon2 Sep./Oct. 2027 OVERVIEW OF FINANCING FACILITIES Q4 2025 Earnings Presentation 1) subsequent instalments to be agreed by borrower and lender 2) after anticipated adjustment for Purchase Option for one vessel being declared in Q1 2026 25
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| |MPC Container Ships CALCULATION OF RECURRING DIVIDEND FOR Q4 2025 Q4 2025 Earnings Presentation 26 USD million Q4 2025 (unaudited) 1 Operating revenue 127.0 EBITDA 76.0 Profit for the period 45.9 Adjustment related to CAPEX losses -1.1 Adjusted profit for the period 47.0 No. of shares outstanding 443.7 Adjusted earnings per share (in USD) 0.11 50% declared as recurring dividend per share (in USD) 0.05 Recurring dividend in USD million 22.2 1) Unaudited results for Q4 2025, subject to potential changes and adjustments
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| |MPC Container Ships CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS 27Q4 2025 Earnings Presentation Q4 2025 Q4 2024 FY 2025 FY 2024 In USD thousands (unaudited) (unaudited) (unaudited) (audited) Operating revenues 126,955 129,951 517,803 540,860 Commissions (2,333) (3,202) (11,521) (14,433) Vessel voyage expenditures (9,664) (5,726) (27,655) (19,195) Vessel operation expenditures (35,174) (42,783) (154,912) (155,844) Ship management fees (2,703) (2,591) (10,574) (9,865) Share of profit or loss from joint venture - 13 (2) (395) Administrative expenses (3,769) (4,438) (20,120) (17,732) Other expenses (755) (2,183) (3,050) (3,861) Other income 4,488 3,748 14,519 8,044 Gain (loss) from sale of vessels and other property, plant and equipment (1,078) 10,552 40,079 21,145 Depreciation (24,491) (16,513) (82,766) (71,139) Operating profit 51,476 66,828 261,801 277,585 Finance income 4,852 2,816 13,938 9,422 Finance costs (9,957) (7,977) (38,154) (20,636) Profit (loss) before income tax 46,371 61,667 237,585 266,371 Income tax expenses (441) 67 (214) 323 Profit (loss) for the period 45,930 61,734 237,371 266,694 Attributable to: Equity holders of the Company 45,926 61,734 237,170 266,683 Non-controlling interest 4 - 201 11 Basic earnings per share – in USD 0.10 0.14 0.53 0.60 Diluted earnings per share – in USD 0.10 0.14 0.53 0.60
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| |MPC Container Ships CONSOLIDATED STATEMENT OF FINANCIAL POSITION 28Q4 2025 Earnings Presentation in USD thousands Dec 31, 2025 Dec 31, 2024 in USD thousands Dec 31, 2025 Dec 31, 2024 (unaudited) (audited) (unaudited) (audited) ASSETS EQUITY AND LIABILITIES Non-current Assets Equity Vessels 975,334 1,003,460 Share capital 48,589 48,589 Newbuildings 57,774 44,344 Share premium 1,879 1,879 Right-of-use asset - 264 Other paid-in capital - 286 Investments in associate and joint venture 1,232 5,245 Retained earnings 879,974 762,602 Total non-current assets 1,034,340 1,053,313 Other reserves (862) (260) Non-controlling interest 4,606 4,524 Current Assets Total equity 934,186 817,620 Inventories 6,324 7,206 Trade and other receivables 59,398 37,735 Non-current liabilities Financial instruments at fair value 71,599 1,060 Non-current Interest-bearing debt 439,140 299,237 Restricted cash 9,453 6,364 Lease liabilities - long-term - 79 Cash and cash equivalents 345,478 125,696 Other non-current liabilities 2,711 Total current assets 492,252 178,061 Total non-current liabilities 441,851 299,316 TOTAL ASSETS 1,526,592 1,231,374 Current liabilities Current interest-bearing debt 64,808 44,037 Trade and other payables 11,107 12,632 Derivative financial instruments - short-term 174 101 Related party payables 109 72 Income tax payable 25 164 Deferred revenues 42,380 29,706 Other liabilities 31,952 27,726 Total current liabilities 150,555 114,438 TOTAL EQUITY AND LIABILITIES 1,526,592 1,231,374
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| |MPC Container Ships CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW 29Q4 2025 Earnings Presentation in USD thousands FY 2025 FY 2024 in USD thousands FY 2025 FY 2024 (unaudited) (audited) (unaudited) (audited) Profit (loss) before income tax 237,585 266,371 Dividends paid (119,917) (204,359) Income tax expenses paid 117 - Addition of non-controlling interest - 935 Net change inventory and trade and other receivables (20,087) (13,004) Proceeds from debt financing 230,921 263,340 Net change in trade and other payables and other liabilities 2,445 9,155 Repayment of long-term debt (72,705) (43,975) Net change other non-current assets and other non-current liabilities 2,711 4,238 Payment of principal of leases (142) (185) Net change in deferred revenues 12,674 (5,524) Interest paid (29,190) (10,090) Depreciation 82,766 71,139 Debt issuance costs (4,854) (7,082) Share-based payment (286) 286 Other finance paid (542) (397) Finance costs (net) 24,216 11,214 Cash from /(to) financial derivatives (126) 527 Share of profit (loss) from joint venture 2 395 Cash flow from financing activities 3,445 (1,286) (Gain) loss from sale of vessels and fixed assets (40,079) (19,331) Amortization of TC contracts - (1,012) Net change in cash and cash equivalents 222,189 9,665 Cash flow from operating activities 302,064 323,927 Net foreign exchange difference 682 (189) Restricted cash, cash & cash equiv. at beginning of the period 132,060 122,584 Proceeds from disposal of vessels 121,399 92,982 Restricted cash, cash & cash equiv. at end of the period 354,931 132,060 Scrubbers, dry dockings and other vessel upgrades (49,440) (56,226) Newbuildings (89,924) (122,045) Capitalized borrowing cost (2,160) (2,618) Acquisition of vessels - (227,296) Acquisition of newbuildings (3,789) 974 Purchase of short-term investments (81,568) - Sale of short-term investments 10,000 - Interest received 12,162 5,258 Investment in associate - (4,005) Cash flow from investing activities (83,320) (312,976)
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| |MPC Container Ships FLEET EMPLOYMENT OVERVIEW No Vessel Cluster Charterer Remark MPCC Current Fixture (USD/day) Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26 Jan-27 Feb-27 Mar-27 Min / Max 1 AS PATRIA1 2,500 grd KMTC 15,500 Mar-26 / Oct-26 2 AS FELICIA2 1,300 grd ZISS 24,000 DD3 Mar-26 / May-26 3 AS ALVA 2,000 grd MSC 15,500 Apr-26 / Jun-26 4 AS CARLOTTA 2,800 grd ONE 25,500 DD3 May-26 / Jun-26 5 AS CLEMENTINA2 2,800 gls Unifeeder 21,178 DD3 May-26 / Jul-26 6 AS PIA 2,500 grd Maersk A/S Retrofit 16,0004 Aug-26 / Jan-27 7 AS CONSTANTINA 2,800 gls COSCO 26,500 Sep-26 / Nov-26 8 AS SICILIA 1,700 grd MSC 17,000 Sep-26 / Nov-26 9 AS PALINA 2,500 HR grd Maersk A/S Retrofit 17,0005 Oct-26 / Apr-27 10 AS SELINA 1,700 grd Maersk A/S 24,7086 DD3 Nov-26 / Jan-27 11 AS SAVANNA 1,700 grd Maersk A/S Retrofit 24,7086 Nov-26 / Jan-27 12 AS CAROLINA 2,800 gls ZISS 41,000 Nov-26 / Jan-27 13 AS PETRONIA 2,500 HR grd Maersk A/S Retrofit 17,0007 Nov-26 / May-27 14 AS ANNE 2,200 grd eco OOCL Eco 25,500 DD3 Dec-26 / Feb-27 15 AS SABRINA 1,700 grd Maersk A/S Retrofit 24,7088 Dec-26 / Feb-27 16 AS SAMANTA 1,700 grd Maersk A/S Retrofit 24,7088 Jan-27 / Mar-27 17 AS SARA 1,700 grd Maersk A/S Retrofit 24,7088 Feb-27 / Apr-27 18 AS PAMELA 2,500 grd EMC 26,500 Mar-27 / Apr-27 19 AS SUSANNA 1,700 grd ONE 18,000 Mar-27 / Jun-27 20 AS CASPRIA 2,800 gls ZISS 40,700 Mar-27 / May-27 21 AS FREYA 1,300 grd King Ocean 16,250 Apr-27 / Jun-27 22 AS SVENJA 1,700 grd CMA CGM Retrofit 22,000 Apr-27 / Jun-27 23 AS ANGELINA 2,000 grd Maersk A/S 24,500 Jun-27 / Aug-27 24 AS NURIA 3,500 gls Maersk A/S Retrofit 25,150 Jun-27 / Aug-27 25 SEVILLIA 1,700 grd CMA CGM 21,000 Jun-27 / Aug-27 1 First year at USD 70,000, next year at USD 55,000, thereafter one year at USD 25,000 and then USD 15,500 for the remaining period. Charterers declared their option to add 94 days off-hire to the max period 2 Sold, subject to successful handover 3 Scheduled commencement of dry-docking. Actual timing depends, inter alia, on yard capacity and charter commitments 4 Index-linked scheme with a floor of USD 10,500 and a ceiling of USD 16,000, the charter also includes a Scrubber savings sharing mechanism in favour of MPCC 5 Index-linked scheme for AS Palina with a floor of USD 11,000 and a ceiling of USD 17,000, the charter also includes a Scrubber savings sharing mechanism in favour of MPCC 6 Contracted base rate, index-linked scheme with a floor of USD 12,500 and a ceiling of USD 20,000. 50/50 profit share for all assessed rates between USD 20,000 and USD 30,000 7 Index-linked charter rate with a floor of USD 11,000 and a ceiling of USD 17,000. The charter also includes a Scrubber savings sharing mechanism in favour of MPCC 8 Contracted base rate, index-linked scheme with a floor of USD 12,500 and a ceiling of USD 20,000. 50/50 profit share for all assessed rates between USD 20,000 and USD 30,000 Min. period Max. period Q4 2025 Earnings Presentation 30
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| |MPC Container Ships FLEET EMPLOYMENT OVERVIEW 1 Scheduled commencement of dry-docking. Actual timing depends, inter alia, on yard capacity and charter commitments 2 Index-linked charter rate with a floor of USD 12,850 and a ceiling of USD 23,000 3 Livorno Express to be renamed to AS Natalie, Detroit Express to be renamed to AS Nele, Genoa Express to be renamed to AS Nanne and Barcelona Express to be renamed to AS Ninette 4 Index-linked charter rate with a floor of USD 8,750 and a ceiling of USD 14,500 - 50/50 profit share for all assessed rates between USD 17,000 and USD 35,000 No Vessel Cluster Charterer Remark MPCC Current Fixture (USD/day) Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26 Jan-27 Feb-27 Mar-27 Min / Max 26 AS SOPHIA 1,700 grd Maersk A/S 21,500 DD1 Jul-27 / Nov-27 27 AS NARA 3,500 gls Maersk A/S 25,150 Jul-27 / Sep-27 28 AS NINA 3,500 gls Maersk A/S Retrofit 30,000 Jul-27 / Sep-27 29 AS PENELOPE 2,500 gls Hapag-Lloyd 26,000 Sep-27 / Dec-27 30 AS SERENA 1,700 grd Maersk A/S 20,000 DD1 Sep-27 / Nov-27 31 AS NORA 3,500 grd CMA CGM Retrofit 28,000 Feb-28 / Apr-28 32 AS CALIFORNIA 2,800 gls Maersk A/S 24,000 23,0002 Feb-28 / Apr-28 33 AS CYPRIA 2,800 gls Hapag-Lloyd 18,500 DD1; 23,000 Feb-28 / Jun-28 34 LIVORNO EXPRESS3 3,800 grd Hapag-Lloyd Eco 33,250 DD1 Mar-28 / Jun-28 35 GENOA EXPRESS3 3,800 grd Hapag-Lloyd Eco 33,250 DD1 Mar-28 / Jun-28 36 DETROIT EXPRESS3 3,800 grd Hapag-Lloyd Eco 33,250 DD1 Mar-28 / Jun-28 37 BARCELONA EXPRESS3 3,800 grd Hapag-Lloyd Eco 33,250 DD1 Mar-28 / Jun-28 38 AS CAMELLIA 2,800 gls Maersk A/S 24,000 23,0002 Apr-28 / Aug-28 39 AS COLUMBIA 2,800 gls Maersk A/S Retrofit 24,000 DD1; 23,0002 Apr-28 / Aug-28 40 AS CARELIA 2,800 gls Hapag-Lloyd 19,500 DD1 23,000 Apr-28 / Aug-28 41 AS SIMONE 1,700 grd eco Maersk A/S Eco & Retrofit 20,8804 17,000 Jun-28 / Nov-28 42 AS SILJE 1,700 grd eco Maersk A/S Eco & Retrofit 21,8284 17,000 Jun-28 / Nov-28 43 AS SABINE 1,700 grd eco Maersk A/S Eco & Retrofit 21,8284 17,000 Jun-28 / Nov-28 44 AS STINE 1,700 grd eco Maersk A/S Eco & Retrofit 21,8284 Jun-28 / Nov-28 45 AS CHRISTIANA 2,800 grd Sea Consortium 26,800 Emirates – 27,450 Jul-28 / Oct-28 46 STADT DRESDEN 2,800 gls Hapag-Lloyd 19,500 20,000 DD1 Jul-28 / Nov-28 47 AS CLAUDIA 2,800 gls Hapag-Lloyd 19,500 DD1 Nov-28 / Mar-29 Min. period Max. period Q4 2025 Earnings Presentation 31
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| |MPC Container Ships FLEET EMPLOYMENT OVERVIEW No Vessel Cluster Charterer Remark MPCC Current Fixture (USD/day) Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26 Jan-27 Feb-27 Mar-27 Min / Max 48 AS MARIE1 4,500 gls Top Tier Liner Eco / Ammonia ready Charter rate of USD 31,900 per day Jun-30 / Jul-30 49 AS MAIKE1 4,500 gls Top Tier Liner Eco / Ammonia ready Charter rate of USD 31,900 per day Sep-30 / Oct-30 50 AS METTE1 4,500 gls Top Tier Liner Eco / Ammonia ready Charter rate of USD 31,900 per day Dec-30 / Jan-31 51 AS MARTHE1 4,500 gls Top Tier Liner Eco / Ammonia ready Charter rate of USD 31,900 per day Mar-31 / Apr-31 52 MACKENZIE 5,500 gls ZISS Eco 70,0002 45,000 Jun-31 / Jul-31 53 COLORADO 5,500 gls ZISS Eco 70,0002 45,000 Jul-31 / Sep-31 54 AS FRIEDERIKE1,3 1,300 gls Unifeeder Dual-Fuel Methanol Charter rate of EUR 17,750 per day Dec-33 / Dec-33 55 AS ROSE1,4 1,600 gls HC Top Tier Liner Eco Charter rate of USD 16,450 per day Jun-35 / Aug-35 56 AS REESE1,4 1,600 gls HC Top Tier Liner Eco Charter rate of USD 16,450 per day Sep-35 / Nov-35 57 AS MATILDE1 4,500 gls Top Tier Liner Eco Charter rate of USD 27,000 per day5 Dez-37 / Apr-38 58 AS MARTINE1 4,500 gls Top Tier Liner Eco Charter rate of USD 27,000 per day5 Mar-38 / Jul-38 59 AS MARLENE1 4,500 gls Top Tier Liner Eco Charter rate of USD 27,000 per day5 May-38 / Sep-38 60 AS MAXINE1 4,500 gls Top Tier Liner Eco Charter rate of USD 27,000 per day5 Jun-38 / Oct-38 61 AS NADINE1 3,500 gls Top Tier Liner Eco Charter rate of USD 22,950 per day6 Jun-38 / Oct-38 62 AS NAOMIE1 3,700 gls Top Tier Liner Eco Charter rate of USD 22,950 per day6 Aug-38 / Dec-38 63 AS NIKE1 3,700 gls Top Tier Liner Eco Charter rate of USD 22,950 per day6 Sept-38 / Jan-39 64 AS NANCIE1 3,700 gls Top Tier Liner Eco Charter rate of USD 22,950 per day6 Nov-38 / Mar-39 65 AS NICOLE1 3,700 gls Top Tier Liner Eco Charter rate of USD 22,950 per day6 Feb-39 / Jun-39 66 AS NORENE1 3,700 gls Top Tier Liner Eco Charter rate of USD 22,950 per day6 Apr-39 / Aug-39 67 NCL VESTLAND7 1,300 grd NCL Dual-Fuel Methanol 17,708 17,266 Nov-39 / Mar-40 68 NCL NORDLAND7 1,300 grd NCL Dual-Fuel Methanol 16,905 17,091 Feb-40 / Jun-40 1 Periods are based on the latest schedule provided by the shipyard 2 Avg. Rate of USD 39,000 (first two years USD 70,000, the third year USD 45,000 and for the remaining four years USD 21,565) 3 To be renamed DP World Southampton after delivery 4 AS Rose to be renamed ONE Aurora and AS Reese to be renamed ONE Scandinavia after delivery 5 The charter includes two options, option 1 for 24 months +/- 45 days at USD 30,500 as well as option 2 for further 12 months +/- 45 days at USD 32,500 6 The charter includes three options, option 1 for 12 months +/- 45 days at USD 25,000 , option 2 for further 12 months +/- 45 days at USD 27,000 as well as option 3 for further 12 months +/- 45 days at USD 29,000 7 The charter rates are fixed in Euro with a yearly increase of 1.1% on the 1st of January Min. period Max. period Under construction Q4 2025 Earnings Presentation 32
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| |MPC Container Ships This presentation (the “Presentation”) has been prepared by MPC Container ships ASA (the “Company”) for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. Please note that no representation or warranty (express or implied) is made as to, and no reliance should be placed on, any forward-looking statements, including projections, estimates, targets and opinions, contained herein. To the extent permitted by law, the Company, its parent or subsidiary undertakings and any such person’s officers, directors, or employees disclaim all liability whatsoever arising directly or indirectly from the use of this Presentation . This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances, not historical facts and are sometimes identified by the words “believes”, expects”, “predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”, “targets”, and similar expressions . The forward- looking statements contained in this Presentation (including assumptions, opinions and views of the Company or opinions cited from third party sources) are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development . None of the Company, any of its parent or subsidiary undertakings or any such person’s officers, directors, or employees provides any assurance that the assumptions underlying such forward-looking statements are free from errors, nor does any of them accept any responsibility for the future accuracy of the opinions expressed in this Presentation or the actual occurrence of the forecasted developments described herein. The Presentation contains information obtained from third parties. Such information has been accurately reproduced and, as far as the Company is aware and able to ascertain from the information published by that third party, no facts have been omitted that would render the reproduced information to be inaccurate or misleading in any material respect. An investment in the company involves risk. several factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements that may be predicted or implied by statements and information in this presentation, including, but not limited to, risks or uncertainties associated with the company’s business, development, growth management, financing, market acceptance and relations with customers and, more generally, economic and business conditions, changes in domestic and foreign laws and regulations, taxes, changes in competition and pricing environments, fluctuations in currency exchange and interest rates and other factors. should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the actual results of the company may vary materially from those forecasted in this presentation . By attending or receiving this Presentation recipients acknowledge that they will be solely responsible for their own assessment of the Company and that they will conduct their own analysis and be solely responsible for forming their own view of the potential future performance of the Company and its business . The distribution of this Presentation may, in certain jurisdictions, be restricted by law. Persons in possession of this Presentation are required to inform themselves about and to observe any such restrictions . No action has been taken or will be taken in any jurisdiction by the Company that would permit the possession or distribution of any documents or any amendment or supplement thereto (including but not limited to this Presentation) in any country or jurisdiction where specific action for that purpose is required . In relation to the United States and U.S. Persons, this Presentation is strictly confidential and may only be distributed to “qualified institutional buyers”, as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the “US Securities Act”), or “QIBs”. The recipient of this presentation is prohibited from copying, reproducing or redistributing the Presentation . The shares of the Company have not and will not be registered under the U.S. Securities Act or any state securities law and may not be offered or sold within the United States unless an exemption from the registration requirements of the U.S. Securities Act is available. Accordingly, any offer or sale of shares in the Company will only be made (i) to persons located in the United States, its territories or possessions that are QIBs in transactions meeting the requirements of Rule 144A under the U.S. Securities Act and (ii) outside the United States in “offshore transactions” in accordance with Regulations S of the U.S. Securities Act. Neither the U.S. Securities and Exchange Commission, nor any other U.S. authority, has approved this Presentation . This Presentation is being communicated in the United Kingdom to persons who have professional experience, knowledge and expertise in matters relating to investments and who are "investment professionals" for the purposes of article 191 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and only in circumstances where, in accordance with section 861 of the Financial and Services Markets Act 2000 ("FSMA"), the requirement to provide an approved prospectus in accordance with the requirement under section 85 FSMA does not apply. The contents of this Presentation shall not be construed as legal, business, or tax advice. Recipients must conduct their own independent analysis and appraisal of the Company and the Shares of the company, and of the data contained or referred to herein and in other disclosed information, and risks related to an investment, and they must rely solely on their own judgement and that of their qualified advisors in evaluating the Company and the Company's business strategy . This Presentation reflects the conditions and views as of the date set out on the front page of the Presentation . The information contained herein is subject to change, completion, or amendment without notice. In furnishing this Presentation, the Company undertake no obligation to provide the recipients with access to any additional information . This Presentation shall be governed by Norwegian law. Any dispute arising in respect of this Presentation is subject to the exclusive jurisdiction of the Norwegian courts with the Oslo City Court as legal venue. Q4 2025 Earnings Presentation 33 DISCLAIMER