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Q2 2026 PRESENTATION 18th August 2026
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QUARTERLY HIGHLIGHTS Continued stable financial performance Acquisition by A.P. Moller Holding ▪ A.P. Møller Holding A/S has agreed to acquire 100% of Ocean Yield AS ▪ Closing expected on or around 21 August 2026 ▪ Change of control waivers obtained from all senior lenders ▪ No change to Ocean Yield’s strategy or management ▪ Stable financial performance with quarterly adjusted EBITDA of USD 80.5 million and net profit of USD 25.0 million ▪ Robust balance sheet with 29.7% equity ratio and USD 281.9 million of liquidity ▪ EBITDA backlog of USD 4.9 billion with an average duration of 11.1 years
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34 29 32 32 44 2021 2022 2023 2024 2025 A.P. MOLLER HOLDING – PORTFOLIO OVERVIEW Group overview Substantial and diversified net asset value with strong annual cash inflows 34% 20%3% 18% 16% 1% 8% Privately owned companies Other Shipping and offshore (listed) A.P. Moller - Maersk Danske Bank Other net assets Financial portfolio Growth equity Net asset value, USDbn Cash inflow, USDbn A.P. Moller - Maersk Danske Bank Financial Portfolio Noble DOF Svitzer Other 40% 19% 17% 12% 2% 2% 8% 1 4 6 2 3 2021 2022 2023 2024 2025 A.P. MOLLER FOUNDATION A.P. MOLLER HOLDING USD 44bn USD 3bn
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Product / Chemical 4 24% 19% 12% 11% 8% 7% 6% 4% FLEET COMPOSITION EBITDA BACKLOG1 BY SEGMENT EBITDA BACKLOG1 BY CLIENT FLEET AND BACKLOG COMPOSITION 49% 15% 12% 10% 7% 5% 3% Oil service Product & Chemical Crude Dry bulk LNG Containers USD 4.9bn 16 clients Others Oil-service 5 Crude 10 Container 10 Dry bulk 8 4 LNG 30 1) EBITDA adjusted for lease effects, investments in and shareholder loans to joint ventures, declared purchase options and obli gations Other gas Total 71 Other gas 59% OF EBITDA BACKLOG1 CHARTERED TO INVESTMENT GRADE-RATED COUNTERPARTIES
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▪ During the quarter, the VLCC Nissos Rheina and Nissos Despotiko were delivered to their new owners DELIVERIES ▪ On 25 June 2026 Braskem S.A. announced the filing of a request for Precautionary Injunctive Relief ▪ Ocean Yield owns 2 LEG carriers and 4 LR1 product tankers (2 yet to be delivered), all on long-term charters to subsidiaries of Braskem Trading & Shipping B.V., with additional guarantees from Braskem S.A. ▪ Ocean Yield has received significant cash security deposits as compensation for certain temporary waivers to termination rights related to the guarantor ▪ The agreement is conditional upon continued full payment of charter hire throughout the waiver period VESSELS SOLD CHARTERS PORTFOLIO UPDATE ▪ During the quarter, Barzan was delivered from the yard to a 50% joint venture company owned by CapeOmega, and commenced long-term time charter to QatarEnergy LNG, a tier-one investment grade-rated company ▪ During the quarter, the two LR1 product tanker newbuildings Beautiful Future and Blooming Future, were delivered from the yard and commenced long-term bareboat charters to Braskem immediately upon delivery
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FINANCIAL SNAPSHOT 68.4 73.6 77.0 82.8 87.4 86.5 79.0 88.2 96.8 96.6 94.6 86.9 91.6 101.1 112.9 95.3 82.3 80.5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 2025 2026 USD 47.7m EBITDA USD 80.5m Adjusted EBITDA USD 25.0m Net profit USD 0.0m Dividend USD 281.9m Available liquidity 29.7% Equity ratio 1) EBITDA adjusted for Repayment of finance lease receivables, IFRS treatment (straightlining) of operating lease revenue, interest income earned on shareholder loans to associated companies and fair value change of eq uity investments. ADJUSTED EBITDA1 Q2 2026 KEY FINANCIALS USD million
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Q1 Q2 Amounts in USD million 2026 2026 Operating revenues 19.1 19.3 Finance lease revenues 27.5 26.7 Income from investments in associates 6.6 6.3 Other revenue 0.4 4.1 Total revenues and other income 53.6 56.3 Total operating expenses (6.3) (8.6) Depreciation (5.8) (5.8) Operating profit 41.5 41.8 Financial income 4.4 4.5 Financial expenses (26.2) (25.2) Foreign exchange gains/losses (6.7) 5.8 Change in fair value of financial instruments 9.5 (1.0) Net profit before tax 22.4 25.9 Income tax expenses (0.6) (0.9) Net profit 21.9 25.0 Adjustments EBITDA 47.3 47.7 Repayment on finance lease receivables 26.1 26.2 Straightlining of operating lease revenue 4.0 1.7 Interest income on shareholder loans to associated companies 3.3 3.4 Fair value change of equity investments 1.5 1.5 Adjusted EBITDA 82.3 80.5 INCOME STATEMENT INCOME STATEMENT
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BALANCE SHEET BALANCE SHEET Q1 Q2 Q1 Q2 Amounts in USD million 2026 2026 2026 2026 ASSETS EQUITY AND LIABILITIES Vessels and equipment 406 400 Common equity 669 592 Newbuildings 79 33 Hybrid capital 110 110 Investments in associates 352 356 Total equity 779 702 Finance lease receivables 999 1,035 Other non-current assets 239 239 Interest-bearing debt 1,351 1,434 Fair value of derivatives 13 12 Deferred tax liabilities 8 8 Total non-current assets 2,087 2,076 Fair value of derivatives 2 4 Other non-current liabilities 82 86 Total non-current liabilities 1,443 1,530 Finance lease receivables 247 163 Interest-bearing short-term debt 210 105 Trade and other receivables 4 4 Trade and other payables 28 30 Cash and cash equivalents 123 124 Total current liabilities 238 135 Total current assets 374 292 Total liabilities 1,682 1,665 Total assets 2,461 2,368 Total equity and liabilities 2,461 2,368 Equity ratio 31.7% 29.7%
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▪ Paid down on revolving credit facilities during the quarter, with total available liquidity at the end of the quarter of USD 281.9 million FINANCING INITIATIVES DURING AND AFTER QUARTER END Liquidity Unsecured financing Secured financing ▪ During the quarter, refinanced two LEG vessels and six newcastlemax vessels ▪ After quarter end, refinanced one newcastlemax vessels and one oil-service vessel ▪ Change of control waivers obtained from all senior lenders ▪ A call notice has been issued for the bond OCY09, with settlement in September 2026 ▪ Summons to written resolutions for approval of the new shareholder sent to bondholders in OCY11, OCY12 and OCY13 ▪ For the hybrid bond OCY10, the intention is to call this bond and refinance it with a new hybrid perpetual bond, subject to inter alia market conditions
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OUTLOOK Low portfolio risk, robust balance sheet and strong liquidity make Ocean Yield well positioned for further selective growth 2 1 Continued focus on developing partnerships and strategic investments with industry leading partners 3 Strong and improving access to capital at attractive cost increases competitive position
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COMPANY CONTACTS: Andreas Røde CEO +47 98 22 85 62 andreas.rode@oceanyield.no Eirik Eide CFO +47 95 00 89 21 eirik.eide@oceanyield.no Karl Fredrik Schjøtt-Pedersen SVP Finance & IR +47 95 13 23 35 karl.pedersen@oceanyield.no www.oceanyield.no/investor-relations