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Nakilat 3Q26 FINANCIAL RESULTS IR Presentation – October 2026 2026
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1Q25 Financial Results Presentation 2025 Forward Looking Statements & Disclaimer All statements in this presentation (other than those of historical fact) contain reference to our future business and financial performance and future events or developments that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project", “may”, “forecast” or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of NAKILAT’s management, of which many are beyond NAKILAT’s control. These are subject to several risks, uncertainties and factors that might cause future results and outcomes to differ including, but not limited to the following: • General LNG shipping market conditions and trends, including spot and long-term charter rates, ship values, factors affecting supply and demand of LNG and LNG shipping, technological advancements and opportunities for the profitable operations of LNG carriers; • Fluctuations in spot and long-term charter hire rates and vessel values; • Changes in our operating expenses, including crew wages, maintenance, dry-docking and insurance costs and bunker prices; • Number of off-hire days and dry-docking requirements including our ability to complete scheduled dry-dockings on time and within budget; • Planned capital expenditures and availability of capital resources to fund capital expenditures; may no longer have the latest technology which may impact the rate at which we can charter such vessels; • Increased exposure to the spot market and fluctuations in spot charter rates; • Fluctuations in prices for crude oil, petroleum products and natural gas, including LNG; • Changes in the ownership of our charterers; • Our customers’ performance of their obligations under our time charters and other contracts; • Our future operating performance and expenses, financial condition, liquidity and cash available for dividends and distributions; • Our ability to obtain financing to fund capital expenditures, acquisitions and other corporate activities, funding by banks of their financial commitments, and our ability to meet our restrictive covenants future, pending or recent acquisitions of or orders for ships or other assets, business strategy, areas of possible expansion and expected capital spending; • The time that it may take to construct and deliver new buildings and the useful lives of our ships; • Fluctuations in currencies and interest rates; • The expected cost of and our ability to comply with environmental and regulatory conditions, including changes in laws and regulations or actions taken by regulatory authorities, governmental organizations, classification societies and standards imposed by our charterers applicable to our business; • Risks inherent in ship operation, including the risk of accidents, collisions and the discharge of pollutants; • Our ability to retain key employees and the availability of skilled labor, ship crews and management; • Potential disruption of shipping routes due to accidents, political events, piracy or acts by terrorists; • Potential liability from future litigation; • Any malfunction or disruption of information technology systems and networks that our operations rely on or any impact of a possible cybersecurity breach Should one or more of these risk factors or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of NAKILAT may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. NAKILAT neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated except if required by law. Accordingly, you should not unduly rely of any forward-looking statements. NAKILAT makes no representation or warranty, expressed or implied, with respect to any forecast, projection or predictive statements in this presentation. This presentation has been prepared in the English language. In case of discrepancies if translated, the English language document is the sole authoritative and universally valid version. 2
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3Q26 Financial Results Presentation 2026 Agenda 4 5 6 7 8 9 10 11 12 13 11. Net Borrowings 12. Nakilat’s Vessels Newbuild 13. Dividends (2017 – 2025) 14. Our Journey Towards Sustainability 15. Closing Remarks 3 1. Nakilat at a Glance 2. Investment Thesis – Key Strengths 3. Nakilat’s Fleet in Operation 4. Accelerating our Fleet Growth Strategy 5. Ship Building Project Management Office 6. Health and Safety 7. 3Q26 - LNG Shipping Market Update 8. Executive Summary 3Q26 9. Financial Summary – Income Statement 10. Financial Summary – Balance Sheet 14 15 16 17 18
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3Q26 Financial Results Presentation 2026 Nakilat at a Glance Established in 2004, Nakilat is a shipping and maritime company based in the State of Qatar One of the world’s largest shipping fleets Through strategic joint ventures, we offer comprehensive marine and offshore solutions VALUES Safety Incident and injury free Passion Strong commitment towards continuous improvement Integrity Honesty with sound moral principles Respect Value others’ diversity and perspective Encouragement Be motivated and motivate people around you 66 LNG CARRIERS 1 1 LPG/AMMONIA FSRU Shipyard Nakilat Fleet Marine Services • Fabrication, conversion, maintenance & industrial engineering • Marine vessels, rigs, offshore & onshore structures • Towage & marine support services • Operating a fleet of vessels including tug & pilot boats • Provisions, materials logistics, warehousing & coordination of repairs • Fabrication offshore and onshore structures • Shipping agency, marine & logistics services • All ports & terminals in Qatar and globally through sub-agents 4
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3Q26 Financial Results Presentation 2026 Investment Thesis – Key Strengths Nakilat is a low-risk player in LNG/energy transportation and provides highly attractive risk-adjusted long term returns for its shareholders Leading Operating Capability • Having over 15 years of experience in LNG shipping has allowed us to build an in-house center of operating excellence, with a strong commitment to upholding high standards of safety and reliability. Strong Balance Sheet • No consolidated debt maturities prior 2029 and strong cash position of QAR 4.6B for the group. Attractive Shareholder Returns • Nakilat's balanced growth strategy and long-term fixed contracts with strong counterparties allows our shareholders to enjoy a sustainable stream of cash flow and continuous dividend distribution since 2009. Credit Rating • The world’s highest credit rated shipping company (AA-/S&P’s, Aa3/Moody’s, AA-/Fitch)*. Earning Visibility • High earning Visibility with 821 years on firm contract backlog, additionally 585 years of option period for wholly owned vessels. • Strategic positioning in Qatar, one of the world’s largest LNG exporter, and key role within the global LNG value chain. • Existing modern fleet of 66 LNG carriers, 1 LPG/Ammonia carrier, 1 FSRU, and an orderbook of 36 LNG carriers and 3 LPG/Ammonia carriers. Underpinned by World-Class Customers • Our commercial strategy is focused on chartering our fleet to high credit-rated counterparties and major LNG players such as QatarEnergy LNG, Shell, Woodside, and Petronet etc. 5 * Ratings of Nakilat Inc, which is 100% owned by QGTC.
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3Q26 Financial Results Presentation 2026 Nakilat’s Fleet in Operation 29 16 7 4 4 3 2 1 1 1 Number of Vessels Wholly & Jointly-Owned Fleet in Operations 6 1 1 1 2 2 6 10 14 31 Number of Vessels Vessels' Type / Propulsion
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3Q26 Financial Results Presentation 2026 Accelerating our Fleet Growth Strategy Leading Ship Building Partnerships: Hyundai Samho Heavy Industries, Hyundai Heavy Industries & Hudong-Zhonghua • Nakilat continues to expand its world-class LNG fleet through strategic partnerships with three of the most advanced shipyards in the world: Hyundai Samho Heavy Industries in South Korea, Hyundai Heavy Industries in South Korea and Hyundai-Zhonghua Shipyards in China. • The three shipyards bring decades of expertise, cutting-edge innovation, and a strong commitment to sustainability, reinforcing Nakilat's position as a global leader in LNG transportation. Newbuilds for delivery 2026 onwards 27 LNG Carriers 174,000 cbm 9 QC-MAX Carriers 271,000 cbm 4 LPG/Ammonia Carriers 88,000 cbm TOTAL VESSEL COUNT ONCE COMPLETED WILL REACH 107 JAN 2024 MAR 2024 MAR 2024 2 LNG carries 174,000 cbm 4 LPG/Ammonia carriers 88,000 cbm 25 LNG carries 174,000 cbm 9 QC-MAX LNG carriers 271,000 cbm Hyundai Samho Heavy Industries South Korea Hyundai Heavy Industries South Korea Hyundai-Zhonghua Shipyards, China 7 FLEET EXPANSION
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3Q26 Financial Results Presentation 2026 Nakilat Launches New Project Management Office in South Korea to Oversee Ship Building Project Nakilat Korea Ltd. has inaugurated a new project management office in South Korea, marking a strategic enhancement of Nakilat's oversight and involvement the historic shipbuilding program. This development supports the company's mission to advance Qatar's energy sector with cutting-edge, high efficiency vessels. Positioned within South Korea's prominent shipbuilding hub in Busan, the office strengthens Nakilat's partnerships with Korean shipbuilders, enabling seamless collaboration on the construction of advanced LNG carriers. The opening of Nakilat's South Korea project management office represents a significant milestone in expanding its global operations and highlights the company's commitment to excellence in line with Qatar's vision for sustainable growth in the energy sector. 2026 Ship Building Project Management Office 8
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3Q26 Financial Results Presentation 2026 Health and Safety Consistent strong focus on health & safety KPIs Leading with HSE Lost-Time Injury Rate (LTIF)1 Total Recordable Case Frequency (TRCF)2 9 1 Injury rate at 1,000,000 hours worked 2 First-aid incidents are not included in the TRCF since these usually do not result in more than one day of missed work or impose any restriction on the working ability of an employee 0.39 0.19 0.37 0.30 0.18 0.23 0.15 2020 2021 2022 2023 2024 2025 20263Q26 0.63 1.11 1.14 1.01 0.59 0.45 0.38 2020 2021 2022 2023 2024 2025 20263Q26
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3Q26 Financial Results Presentation 2026 3Q26 - LNG Shipping Market Update Multi-Month (3-6) LNG Shipping Rates 12 Months 0 40,000 80,000 120,000 Charter Rate per Day ($) 174kcbm MEGIs 160kcbm DFDEs 145kcbm Steam Spot Rates (MEGI Vs DFDEs Vs Steam) 3Q25 – 3Q26 0 100,000 200,000 Charter Rate per Day ($) 174kcbm MEGIs 160kcbm DFDEs 145kcbm Steam 1 Year Time-Charter Rate in 2017 – 3Q26 0 100,000 200,000 Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018 Q2-2018 Q3-2018 Q4-2018 Q1-2019 Q2-2019 Q3-2019 Q4-2019 Q1-2020 Q2-2020 Q3-2020 Q4-2020 Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q4-2025 Q1-2026 Q2-2026 Q3-2026 Charter Rate per Day ($) 174kcbm MEGIs 160kcbm DFDEs 145kcbm Steam Average Rates in 9M26 MEGIs/XDFs: ~$ 71,000pd 160k DFDEs: ~$ 48,000pd 145k Steam: ~$ 15,000pd 3Q262Q26 Average Rates in 9M26 MEGIs/XDFs: ~$65,000pd 160k DFDEs: ~$39,000pd 145k Steam: ~$19,000pd Source: Clarksons 10 Average Rates in 9M26 MEGIs/XDFs: ~$ 66,000pd 160k DFDEs: ~$ 44,000pd 145k Steam: ~$ 20,000pd 508 544 567 617 680 721 785 849 887 974 1,051 1,117 1,126 38 87 77 66 9 6 0 100 200 300 400 500 600 700 800 900 1000 1100Number of LNG Ships Development of Global LNG Carriers Fleet* (2019 - 2031e) Total Existing LNG Carriers Fleet Orderbook LNG Carriers Fleet Note: *As of 3Q26, LNG Fleet Development, vessels >40k cbm
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Q3 26 Financial Results Presentation 2025 Executive Summary 3Q26 Q3 2026 Key Financial Highlights Q3 2026 Key Business Highlights & Milestones • Total income increased by ~3.5% Primarily driven by consolidation of Qatar Shipyard Technology Solutions and LPG vessels revenues, not fully present in comparative period and the accounting for gain for the sale of two older LPG vessels as part of Nakilat fleet renewal program. This was partially offset by reduced shipyard, marine and agency activities. • Expenses increased by ~5.9% Primarily driven by the consolidation of Qatar Shipyard Technology Solutions & LPG vessels expenses, not fully present in comparative period. This was partially offset by lower net finance charges and reduced operating cost from wholly owned LNG vessels. • EBITDA decreased by ~2.3% Mainly driven by lower contribution from overall shipyard, marine & agency activities. This was partially offset by lower vessel operating costs from wholly owned LNG vessels and the accounting for gain for the sale of two older LPG vessels. • Net profit decreased by ~1.6% Mainly due to reduced overall shipyard, marine and agency activities. This was largely offset by lower vessel operating expenditure, lower finance charges and the accounting for gain on sale of two older LPG vessels,. QAR 1.29B Net Profit ~ -1.6% YoY QAR 2.69B EBITDA1 ~ -2.3% YoY QAR 3.61B Total Income ~+3.5% YoY QAR 0.23 EPS QAR 12.7% ROE2 QAR 1.83 Current Ratio 1EBITDA is a non-IFRS financial measure and should not be used in isolation or as substitute for Nakilat’s financial results presented in accordance with International Financial Reporting Standards (“IFRS”) 2Annualized RoE 2026 11
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3Q26 Financial Results Presentation 2026 Financial Summary – Income Statement Sustained growth underpinned by value-focused investments and continuous enhancements in efficiency. 12 (QAR) YTD Q3 26 YTD Q3 25 YoY% Q3 2026 Financial Highlights Revenue From Operations 3.40B 3.39B ~+0.3% Due to the consolidation of LPG vessels since March 2025 & Qatar Shipyard Technology Solutions since August 2025 and not fully present in comparative period and an overall increase in LNG JVs contribution; partially offset by lower contributions from wholly owned vessels, and marine & agency services. Interest, dividend and other income 207M 95M ~+117.3% Mainly due increase in interest income due to increased variable interest rates and the accounting for gain from the sale of two older LPG vessels as part of Nakilat’s fleet-renewal program; partially offset by accounting elimination of interest income from joint venture shareholder loan following the consolidation of Qatar Shipyard Technology Solutions. Operating costs 811M 668M ~+21.4% The overall operating expenses increased due to the consolidation of LPG Vessels & Qatar Shipyard Technology Solutions; this was despite the core operating expenses of the wholly owned LNG vessels being lower. General and administration expenses 110M 69M ~+59.3% Due to the consolidation of Qatar Shipyard Technology Solutions, not present in comparative period. This was partially offset by continuous cost optimization initiatives. Amortization and depreciation 692M 662M ~+4.7% Mainly due to the consolidation of LPG vessels & Qatar Shipyard Technology Solutions, not fully present in comparative period and the completion of vessel drydocking cycles of the wholly owned LNG vessels during the second half of 2025. Finance charges 670M 758M ~-11.5% Primarily due to savings from improved refinanced margins, lower variable interest rate, and scheduled loan repayments; partially offset by the consolidation of Qatar Shipyard Technology Solutions not present in comparative period.
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3Q26 Financial Results Presentation 2026 Financial Summary – Balance Sheet Sustained growth underpinned by value-focused investments and continuous enhancements in efficiency. 13 (QAR) Q3 26 Q4 25 YoY% Q3 2026 Financial Highlights Property and equipment 28.03B 25.72B ~+9.0% Primarily driven by continued investment towards the new-build program, partially offset by periodic vessel depreciation and the sale of the two LPG vessels. Cash and deposits balances 4.58B 3.18B ~+44.0% Mainly due to stable cash generated from operations, net increase in borrowings after installments for the new-build program and sale proceeds of the LPG vessels; partially offset by dividends to shareholders and scheduled loan repayments. Borrowings 22.77B 19.93B ~+14.2% Primarily due to planned drawdowns related to the new-build program, partially offset by scheduled repayment of loans. Accounts payable, accruals and other liabilities 2.15B 2.35B ~-8.5% Mainly due to lower advances from the hub business, partially offset by an increase in trade payables.
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3Q26 Financial Results Presentation 2026 Net Borrowings 14 *From 2024, Nakilat’s group debt increased due to initial payments to the shipyard for new vessels % Group Debt Balance of QAR 22.8B 21.4 20.6 19.8 21.2 21.0 19.8 18.8 17.6 19.5 19.9 22.8 QAR 15 QAR 17 QAR 19 QAR 21 QAR 23 QAR 25 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'25 3Q'26 Net Borrowings (FY'16 to 3Q'26) QAR in Billions Net Total Borrowings Expansion programme commences
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3Q26 Financial Results Presentation 2026 Nakilat’s Vessels Newbuild 15 10-0 1-3 4-6 12-14 6-8 3-5 3-5 3-5 $1.9 - $2.2 Bn $0.6 - $0.7 Bn $0.7 - $0.8 Bn $1.9 - $2.2 Bn $1.3 - $1.5 Bn $0.9 - $1.1 Bn $0.9 - $1.1 Bn $0.7 - $0.9 Bn - 500,000,000 1,000,000,000 1,500,000,000 2,000,000,000 2,500,000,000 0 2 4 6 8 10 12 14 Up to 2026 Q3 2026 Q4 2027 Q1 2027 Q2-Q4 2028 2029 2030 2031 Vessels delivered Vessels to be delivered Payment Total Shipbuilding Commitment ~ $9.7Bn
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3Q26 Financial Results Presentation 2026 Dividends (2017 – 2025) Nakilat has distributed a total cash dividend of 14.4 Qatari Dirhams per share for the year 2025. 16 10 10 10 11 12 13 14 14 14.4 0.0% 200.0% 400.0% 600.0% 800.0% 1000.0% 1200.0% 1400.0% 1600.0% 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H24 1H25 2H25 2H24 7 7 7.2 7.2
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3Q26 Financial Results Presentation 2026 • Nakilat is committed to environmental protection according to the Qatar National Vision 2030 IMO. • Nakilat was once again recognized among the Top 100 Listed Companies in the Middle East for 2026. • Nakilat’s CEO, Eng. Abdullah Fadhalah Al-Sulaiti, was recognized in Forbes Middle East’s Sustainability Leaders 2025 list under the Transport segment. Our Journey Towards Sustainability Commitment to Environmental Protection and Sustainability At Nakilat, we prioritize the protection of the environment in all our business operations as we are committed to minimizing harm and preserving our planet for future generations. We continually enhance our processes and adopt green technologies and practices, which allows us to ensure long-term sustainability. 2026 17
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3Q26 Financial Results Presentation 2026 Closing Remarks Profitability results (~-1.6% YoY), momentum continues Nakilat’s EBITDA reached QAR 2.69 billion Nakilat’s resilient business model provides the flexibility to navigate sustainably through volatile markets and geopolitical uncertainty Nakilat has distributed a total cash dividend of 14.4 Qatari Dirhams per share for the year 2025 Maximize shareholder return Global leader for energy transportation 18
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3Q26 Financial Results Presentation 2026 Q&A
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3Q26 Financial Results Presentation 2026 THANK YOU www.nakilat.com fzeritis@nakilat.com For Investor Relations inquiries please contact: Fotios Zeritis Head of Investor Relations & ESG Reporting