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August 2026 N Y S E : D A C Investor Presentation
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Important Disclaimer Forward-Looking Statements This presentation contains certain statements that may be deemed to be “forward-looking statements” within the meaning of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including, without limitation, the outlook for fleet utilization and shipping rates, general industry conditions including bidding activity, future operating results of the Company’s vessels, future operating revenues and cash flows, capital expenditures, vessel market values, asset sales, expansion and growth opportunities, bank borrowings, financing activities and other such matters, are forward-looking statements. Although the Company believes that its expectations stated in this presentation are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements. Risk Factors Important factors that could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, geopolitical conditions, including any trade disruptions resulting from tariffs, port fees or other protectionist measures imposed by the United States, China or other countries, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the ability to operate profitably in the drybulk sector, the ability to realize returns on the Company’s investment in the LNG sector and in marketable securities, performance of shipyards constructing the contracted newbuilding vessels, ability to obtain financing and comply with covenants in the financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, including the conflict in Ukraine and related sanctions, conflicts in the Middle East, potential disruption of shipping routes such as Houthi attacks in the Red Sea and the Gulf of Aden or the effective closure of the Persian Gulf including the Strait of Hormuz, due to the conflict between Iran and the U.S. and Israel, due to accidents and political events or acts by terrorists. Non-GAAP Measures EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Free Cash Flow, Time Charter Equivalent Revenues and Time Charter Equivalent $/per day may be included in our presentations. EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Free Cash Flow, Time Charter Equivalent Revenues and Time Charter Equivalent $/per day are presented because they are used by management and certain investors to measure a company’s financial performance and underlying trends as they exclude certain items impacting overall comparability. EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Free Cash Flow, Time Charter Equivalent Revenues and Time Charter Equivalent $/per day are “non-GAAP financial measures” and should not be considered a substitute for net income, cash flow from operating activities and other operations, cash flow statement data prepared or operating revenues in accordance with accounting principles generally accepted in the United States or as a measure of profitability or liquidity. Reconciliations to GAAP measures are included in the Appendix to this presentation. Additional Information Danaos Corporation is listed on NYSE under ticker "DAC". Annual Report on Form 20-F filed February 27, 2026. Visit www.sec.gov or www.danaos.com for complete information. Certain shipping industry information, statistics and charts contained herein have been derived from industry sources. You are hereby advised that such information, statistics and charts have not been prepared specifically for inclusion in this presentation and the Company has not undertaken any independent investigation to confirm the accuracy or completeness of such information. DANAOS CORPORATION | NYSE: DAC 2
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Business Highlights Core pillars of the Danaos investment thesis Leading Containership Owner and Operator Strong and Stable Cash Flow Profile Diverse and High-Quality Fleet Demand and Supply Market Dynamics Robust Capital Structure & Conservative Financial Strategy Pioneers in Digitization & Champion of ESG Principles DANAOS CORPORATION | NYSE: DAC 3 (1) Cash Contracted Revenue as of June 30, 2026, on the basis of concluded charter contracts through July 31, 2026, and assuming the earliest charter expiry. Top containership owner & operator with 50+ year history and highly efficient operations • 76 containerships (1,800–13,100 TEU) and 28 newbuildings • 11 Capesize bulkers & 4 Newcastlemax newbuildings • Robust balance sheet: 0.3x Net Debt / LTM Adjusted EBITDA • Capital markets access: $500M senior unsecured bond placed • Capital return: $300M buyback program (remaining ~$65M) • $4.6B charter backlog through 2038(1) • 100% coverage for 2026, 93% for 2027, 79% for 2028 and 61% for 2029 • Multi-year revenue visibility • Strong charter market with rates above historical averages • Manageable industry order-book • Award-winning WAVES digital platform • IMO 2030 emissions targets met in 2019 • 56.2% CO₂ reduction achieved in 2025
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Key Business Highlights Core pillars of the Danaos investment thesis Leading Containership Owner and Operator Diverse and High-Quality Fleet Robust Capital Structure & Conservative Financial Strategy DANAOS CORPORATION | NYSE: DAC 4 • One of the largest publicly-listed owners of modern containerships with 50+ year history in the shipping industry • One of the most efficient operators in the industry with highly competitive breakeven levels • Containership vessel ownership across all core segments from 1,800 TEU to 13,100 TEU to meet diverse set of customer needs • The Company has recently re-entered the dry bulk segment with the acquisition of 11 Capesize bulk carriers. The Company also placed orders for 4 Newcastlemax bulk carriers of approximately 211,000 DWT capacity each, with expected deliveries in 2028 • Containership vessel orderbook consists of 28 newbuilding containership vessels with an aggregate capacity of 176,292 TEU. All our new buildings are designed with the latest eco characteristics and in accordance with IMO Tier III emissions and EEDI Phase III standards • On a pro forma, fully delivered basis, assuming the delivery of all vessels currently under construction and on order, our fleet would consist of 104 containerships with an aggregate capacity of approximately 662,041 TEUs and 15 dry bulk vessels, comprising 11 Capesize bulk carriers and four Newcastlemax bulk carriers, with an aggregate capacity of approximately 2.8 million DWT • Net Debt /LTM Adjusted EBITDA ratio of 0.3x as of June 30, 2026 • On March 2, 2026, we repaid in full our 8.5% senior notes due 2028, with an outstanding principal amount of $262.8 million • In January 2026, the Company announced a strategic partnership with Glenfarne Group to advance the Alaska LNG project with $50 million development capital equity investment • In April 2026, the Company acquired approx. 1.9% equity interest in Yoda PLC, a Cyprus listed investment company focusing on LNG, real estate and other participations including healthcare • We have approximately $65 million outstanding capacity under its $300 million authorized share repurchase program.
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Key Business Highlights Core pillars of the Danaos investment thesis Demand and Supply Market Dynamics Pioneers in Digitization & Champion of ESG Principles DANAOS CORPORATION | NYSE: DAC 5 (1) Cash Contracted Revenue as of June 30, 2026, on the basis of concluded charter contracts through July 31, 2026, and assuming the earliest charter expiry. Strong and Stable Cash Flow Profile • Containers charter backlog of $4.6 billion through 2038 (1) with world leading liner companies provides good cash flow visibility • We have now secured multi-year chartering agreements for 22 out of 28 newbuilding containership vessels • Strong operating days contract coverage of 100% for 2026, 93% for 2027, 79% for 2028 and 61% for 2029 limits downside risk and provides solid contracted income base • Charter market remains strong with charter rates across all vessels still above historical averages for periods of up to 5 years • The current containership order-book, of about 39.6% of existing TEU capacity with deliveries through 2028, is expected to be mitigated by reduction in the average service speed of the global fleet due to environmental regulations already in effect • A leader in ship management innovation, through the award-winning WAVES data analytics platform • Danaos met the IMO 2030 carbon intensity targets 11 years ahead of requirements in 2019 and continues to meet the target with a 56.2% reduction in CO2 emissions per ton miles for year 2025
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Danaos by the Numbers Key financial metrics as of June 30, 2026 $4.6B Cash Contracted Revenue through 2038(1) $1.0B Cash & Cash Equivalents as of June 30, 2026 0.30x Net Debt / LTM Adjusted EBITDA $739M LTM Adjusted EBITDA(2) $1.5B Total Liquidity(3) as of June 30, 2026 ~$2.8B Enterprise Value(4) DANAOS CORPORATION | NYSE: DAC 6 (1) Cash Contracted Revenue as of June 30, 2026, on the basis of concluded charter contracts through July 31, 2026 and assuming at the earliest charter expiry. (2) Net debt of $224mm and LTM Adjusted EBITDA of $739mm as of June 30, 2026. (3) Available Liquidity includes Cash and Cash Equivalents of $1,008.3mm, available and undrawn Revolving Credit Commitment of $225mm, and Marketable Securities of $223mm as of June 30, 2026. (4) Enterprise value calculated using the July 31, 2026 market capitalization of ~$2.6bn ($141.63 price, 18.2mm shares).
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Consolidated Balance Sheet & Leverage Metrics As of June 30, 2026 As of December 31, 2025 Cash and cash equivalents $1,008,268 $1,037,292 Availability under Revolving Credit Facility $225,000 $247,500 Marketable securities(3) $223,176 $120,244 Total cash liquidity & marketable securities(4) $1,456,444 $1,405,036 Debt, gross of deferred finance costs $1,232,725 $1,177,782 Net Debt(5) $224,457 $140,490 LTM Adjusted EBITDA(6) $739,055 $719,376 Net Debt / LTM Adjusted EBITDA 0.30x 0.20x Three Months Ended Three Months Ended June 30, 2026 June 30, 2025 Financial & Operating Metrics Container Vessels Dry Bulk Vessels Other Total Container Vessels Dry Bulk Vessels Other Total Operating Revenues $238,650 $35,720 - $274,370 $239,446 $22,708 - $262,154 Voyage Expenses, excl. commissions ($1,791) ($5,441) - ($7,232) ($442) ($6,424) - ($6,866) Time Charter Equivalent Revenues(1) $236,859 $30,279 - $267,138 $239,004 $16,284 - $255,288 Net income $116,104 $12,176 $23,535 $151,815 $115,893 $266 $14,745 $130,904 Adjusted net income(2) $118,309 $12,176 $2,638 $133,123 $116,680 $266 $11 $116,957 Earnings per share, basis $8.34 $7.14 Earnings per share, diluted $8.32 $7.12 Adjusted earnings per share, diluted(2) $7.29 $6.36 Operating Days 6,668 996 - 6,623 908 - Time Charter Equivalent $/day(1) $35,522 $30,401 - $36,087 $17,934 - Ownership Days 6,825 1,001 - 6,734 910 - Average number of vessels 75.0 11.0 - 74.0 10.0 - Fleet Utilization 97.7% 99.5% - 98.4% 99.8% - Adjusted EBITDA(2) $165,469 $18,764 $2,594 $186,827 $170,163 $5,898 ($20) $176,041 Three Months ended June 30 Financial & Operational Summary DANAOS CORPORATION | NYSE: DAC 7 (1) Time charter equivalent revenues and time charter equivalent US$/day are non-GAAP measures. (2) Adjusted net income, adjusted earnings per share, diluted and adjusted EBITDA are non-GAAP measures. Note: Please refer below for reconciliations of non-GAAP to GAAP measures. (3) Marketable securities refer to fair value of (i) 45,454,545 shares of Yoda PLC as of June 30, 2026, and (ii) 6,256,181 shares of common stock of Star Bulk Carriers Corp. as of June 30, 2026 and December 31, 2025. (4) Total cash liquidity & marketable securities is defined as cash and cash equivalents, undrawn revolving credit facility and marketable securities. (5) Net Debt is defined as total debt gross of deferred finance costs less cash and cash equivalents. (6) Last twelve months Adjusted EBITDA. Three Months ended June 30, 2026 and June 30, 2025 per segment* (Expressed in thousands of United States dollars, except as otherwise stated)
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Consolidated Balance Sheet & Leverage Metrics As of June 30, 2026 As of December 31, 2025 Cash and cash equivalents $1,008,268 $1,037,292 Availability under Revolving Credit Facility $225,000 $247,500 Marketable securities(3) $223,176 $120,244 Total cash liquidity & marketable securities(4) $1,456,444 $1,405,036 Debt, gross of deferred finance costs $1,232,725 $1,177,782 Net Debt(5) $224,457 $140,490 LTM Adjusted EBITDA(6) $739,055 $719,376 Net Debt / LTM Adjusted EBITDA 0.30x 0.20x Six Months Ended Six Months Ended June 30, 2026 June 30, 2025 Financial & Operating Metrics Container Vessels Dry Bulk Vessels Other Total Container Vessels Dry Bulk Vessels Other Total Operating Revenues $468,200 $59,868 - $528,068 $475,636 $39,825 - $515,461 Voyage Income/(Expenses), excl. commissions $2,810 ($10,995) - ($8,185) ($749) ($14,794) - ($15,543) Time Charter Equivalent Revenues(1) $471,010 $48,873 - $519,883 $474,887 $25,031 - $499,918 Net income / (loss) $229,357 $13,807 $49,072 $292,236 $234,938 ($6,276) $17,389 $246,051 Adjusted net income/ (loss)(2) $237,149 $13,807 $4,715 $255,671 $236,483 ($6,276) $172 $230,379 Earnings per share, basis $16.05 $13.27 Earnings per share, diluted $16.02 $13.24 Adjusted earnings per share, diluted(2) $14.01 $12.39 Operating Days 13,263 1,745 - 13,074 1,740 - Time Charter Equivalent $/day(1) $35,513 $28,007 - $36,323 $14,386 - Ownership Days 13,575 1,914 - 13,371 1,810 - Average number of vessels 75.0 10.6 - 73.9 10.0 - Fleet Utilization 97.7% 91.2% - 97.8% 96.1% - Adjusted EBITDA(2) $335,573 $27,188 $4,632 $367,393 $343,051 $4,549 $114 $347,714 Six Months ended June 30 Financial & Operational Summary DANAOS CORPORATION | NYSE: DAC 8 Six Months ended June 30, 2026 and June 30, 2025 per segment* (Expressed in thousands of United States dollars, except as otherwise stated) (1) Time charter equivalent revenues and time charter equivalent US$/day are non-GAAP measures. (2) Adjusted net income/(loss), adjusted earnings per share and diluted and adjusted EBITDA are non-GAAP measures. Note: Please refer below for reconciliations of non-GAAP to GAAP measures. (3) Marketable securities refer to fair value of (i) 45,454,545 shares of Yoda PLC as of June 30, 2026, and (ii) 6,256,181 shares of common stock of Star Bulk Carriers Corp. as of June 30, 2026 and December 31, 2025. (4) Total cash liquidity & marketable securities is defined as cash and cash equivalents,undrawn revolving credit facility and marketable securities. (5) Net Debt is defined as total debt gross of deferred finance costs less cash and cash equivalents. (6) Last twelve months Adjusted EBITDA.
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$978 $987 $927 $754 $1,417 100% 93% 79% 61% $0 $500 $1,000 $1,500 $2,000 2026 2027 2028 2029 2030 and onward Cash Contracted Revenue Contracted days coverage 71 69 68 73 75 7 10 11 6 12 16 29 4 50 60 70 80 90 100 110 120 2021 2022 2023 2024 June 30, 2026 Containerships Drybulks Containerships on order Drybulks on order 436.6 423.7 421.3 465.5 477.5 46.4 91.4 134.2 184.6 - 100 200 300 400 500 600 700 2021 2022 2023 2024 June 30, 2026 Existing Fleet New Buildings Fleet Summary & Strong Charter Coverage Profile DANAOS CORPORATION | NYSE: DAC 9 (1) TEU capacity and number of vessels at the end of respective year/period. (2)Cash Contracted Revenue as of June 30, 2026 on the basis of concluded charter contracts through July 31, 2026 and at the earliest charter expiry. Containership Fleet TEU Capacity (in thousands) (1) Number of vessels (1) Containership – Contracted Revenue & Contracted Days Coverage (2) USDm
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$153.4 $278.4 $198.4 $355.6 $0.0 $100.0 $200.0 $300.0 $400.0 Three Months Ended June 30 Six Months Ended June 30 2025 2026 $117.0 $230.4 $133.1 $255.7 $0.0 $100.0 $200.0 $300.0 Three Months Ended June 30 Six Months Ended June 30 2025 2026 $176.0 $347.7 $186.8 $367.4 $0.0 $100.0 $200.0 $300.0 $400.0 Three Months Ended June 30 Six Months Ended June 30 2025 2026 $262.2 $515.5 $274.4 $528.1 $0 $100 $200 $300 $400 $500 $600 Three Months Ended June 30 Six Months Ended June 30 2025 2026 Second Quarter and Six Months Ended June 30 - Highlights DANAOS CORPORATION | NYSE: DAC 10 Note: Please refer to the Appendix tables for reconciliations of non-GAAP to GAAP measures. Operating Revenues USDm Adjusted EBITDA USDm Adjusted Net Income USDm Free Cash Flow USDm
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2026 2025 2026 2025 2026 2025 2026 2025 Operating Revenues (in 000's of US$) $238,650 $239,446 $468,200 $475,636 $35,720 $22,708 $59,868 $39,825 Less: Voyage (Expenses) / Income excuuding commissions (in 000's of US$) (1,791) (442) 2,810 (749) (5,441) (6,424) (10,995) (14,794) Time Charter Equivalent Revenues (in 000's of US$) $236,859 $239,004 $471,010 $474,887 $30,279 $16,284 $48,873 $25,031 Ownership days 6,825 6,734 13,575 13,371 1,001 910 1,914 1,810 Less: Off-hire days (157) (111) (312) (297) (5) (2) (169) (70) Operating days 6,668 6,623 13,263 13,074 996 908 1,745 1,740 Time Charter Equivalent $/per day $35,522 $36,087 $35,513 $36,323 $30,401 $17,934 $28,007 $14,386 (Time Charter Equivalent Revenues / Operating days) Dry Bulk vessels Six Months Ended Six Months Ended June 30, June 30, Container vessels Three Months Ended June 30, Three Months Ended June 30, $35,522 $35,513 $30,401 $28,007 $0 $20,000 $40,000 $60,000 Three Months Ended June 30, 2026 Six Months Ended June 30, 2026Container Vessels Dry Bulk vessels $35.7 $59.9 $238.7 $468.2 $274.4 $528.1 $0.0 $100.0 $200.0 $300.0 $400.0 $500.0 $600.0 Three Months Ended June 30, 2026 Six Months Ended June 30, 2026 Dry Bulk vessels Container vessels Second Quarter and Six Months Ended June 30 - Segments DANAOS CORPORATION | NYSE: DAC 11 Note: Please refer to the Appendix tables for reconciliations of non-GAAP to GAAP measures. (1) Time charter equivalent and Time Charter Equivalent $/per day are non-GAAP measures. Operating Revenues per Segment USDm Time Charter Equivalent ($/per day) (1) per Segment USD Reconciliation of Operating Revenues to Time Charter Equivalent $/per day
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DANAOS CORPORATION | NYSE: DAC 12 Substantial Containership Fleet Employment and Charter Coverage(1) (1) On the basis of US GAAP revenue accounting and concluded charter contracts through July 31, 2026. (2) Age as of June 30, 2026. deno tes firm charter perio d 1 1 deno tes firm charter perio d 2 deno tes o ptio nal perio d at the o ptio n o f the charterer As of Jul y 31, 2026 Charter Charter Containership Vessel TEU Age Rate Expiry Rate Expiry Kota Peony 13,100 14 $ 54,000 Mar 2027 22222222222222222222222222 000000000000000000 000000000000000000 0 Kota Primrose 13,100 14 $ 54,000 Apr 2027 2222222222222222222222222222 000000000000000000 000000000000000000 Kota Plumbago 13,100 14 $ 54,000 Jul 2027 222222222222222222222222222222222222200000000000000000 000000000000000000 Speed 13,100 14 $ 51,500 Mar 2027 2222222222222222222222222 00 000000000000000000 000000000000000000 Ambition 13,100 14 $ 51,500 Apr 2027 22222222222222222222222222222 000000000000000000 000000000000000000 000000 Pusan C 9,580 20 $ 58,500 Jul 2028 $ 41,000 Jul 2031 2222222222222222222222222222222222222222222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Le Hav re 9,580 20 $ 58,500 Aug 2028 $ 41,000 Aug 2031 2222222222222222222222222222222222222222222222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 E xpress Berlin 10,100 15 $ 45,000 Mar 2029 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 E xpress Rome 10,100 15 $ 70,000 Aug 2027 $ 35,000 Aug 2030 2222222222222222222222222222222222222222211111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 E xpress Athens 10,100 15 $ 70,000 Aug 2027 $ 35,000 Jul 2030 222222222222222222222222222222222222222211111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 E urope 8,468 22 $ 56,000 Jul 2028 $ 37,000 Jul 2031 22222222222222222222222222222222222222222222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 America 8,468 22 $ 56,000 Jun 2028 $ 37,000 Jun 2031 222222222222222222222222222222222222222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Kota Santos 8,463 21 $ 50,000 Aug 2026 $ 39,300 Jun 2029 22222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Kota Manzanillo 8,533 21 $ 39,300 Dec 2028 2222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 Belita 8,533 20 $ 37,000 Jul 2028 $ 34,500 Jun 2031 2222222222222222222222222222222222222222222222222222222222222222222222222221111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Niledutch Lion 8,626 18 $ 47,500 Aug 2026 $ 40,000 Jul 2029 22211111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 C Hamburg 9,012 17 $ 56,000 Mar 2028 $ 39,000 Mar 2031 2222222222222222222222222222222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Bremen 9,012 17 $ 56,000 Mar 2028 $ 39,000 Mar 2031 222222222222222222222222222222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 CMA CGM Attila 8,530 15 $ 34,500 May 2031 22222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 CMA CGM Tancredi 8,530 15 $ 34,500 Jul 2031 2222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 CMA CGM Bianca 8,530 15 $ 34,500 Sep 2031 2222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 CMA CGM Samson 8,530 15 $ 34,500 Nov 2031 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 CMA CGM Melisande 8,530 14 $ 34,500 Jan 2032 22222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 Santorini E xpress 8,258 0 $ 42,000 Jul 2031 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 Catherine C 8,010 2 $ 42,000 Jun 2029 22222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 Greenland 8,010 2 $ 42,000 Aug 2029 2222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 Greenv ille 8,010 2 $ 42,000 Oct 2029 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 Greenfield 8,010 2 $ 42,000 Nov 2029 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 Interasia Accelerate 7,165 2 $ 36,000 Apr 2027 $ 37,000 Apr 2032 222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Interasia Amplify 7,165 2 $ 36,000 Sep 2027 $ 37,000 Sep 2032 222222222222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Sav annah 6,402 24 $ 40,000 Jun 2027 22222222222222222222222222222222222 00000000000000000 0000000000000000000000 Dimitra C 6,402 24 $ 35,000 May 2028 22222222222222222222222222222222222222222222222222222222222222222222 00 CMA CGM Moliere 6,500 17 $ 55,000 Mar 2027 $ 31,500 Aug 2030 22222222222222222222222222211111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 CMA CGM Musset 6,500 16 $ 40,000 Jul 2027 $ 31,500 Sep 2030 2222222222222222222222222222222222222221111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 CMA CGM Nerv al 6,500 16 $ 30,000 Nov 2027 $ 30,000 Oct 2030 222222222222222222222222222222222222222222222222221111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 YM Mandate 6,500 16 $ 26,890 Jan 2028 22222222222222222222222222222222222222222222222222222222 00000000000000000000000 CMA CGM Rabelais 6,500 16 $ 30,000 Jan 2028 222222222222222222222222222222222222222222222222222222 0 Racine 6,500 16 $ 37,500 Mar 2029 22222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 YM Maturity 6,500 16 $ 26,890 Apr 2028 22222222222222222222222222222222222222222222222222222222222222222 00000000000000000000000 2036 Q1 Q2 Q3 Q4Q1Q4 Q1 Q2 Q3 2027 2028 Q3 Q4Q3 Q2 Current charter Next Charter Q4 2030 Q1 Q2 Q3 Q4 Q1 2029 Q1 Q2 Q3 Q4 2031 Q1 Q2 Q3 Q4 2034 Q1 Q2 Q3 Q4 2032 Q1 Q2 Q3 Q4 2035 Q1 Q2 Q3 Q4 2033 Q1 Q2 Q3 Q4 2026 Q3 Q4 Q1 Q2 Q3 Q4Q1 Q2 Q3 Q4 Q1 Q2Q3 Q4 Q4 Q1Q2 Q3 Q4 Q1 Q2 Q3Q4 Q1 Q2 Q3 Q4 Q1Q2 Q3 Q4 Q1 Q2 Q3 2026 2027 2028 2029 Q2 Q3 Q4Q4 Q1 Q2 Q3 20362030 2031 2032 2033 2034 2035 5x 13,100 TEU 9x 6,400 – 6,500 TEU 13x 8,500 - 9,600 TEU 5x 9,600 - 10,100 TEU 4x 8,010 TEU (Methanol Ready) 2x 7,165 TEU (Methanol Ready) 1x 8,258 TEU (Methanol Ready)
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DANAOS CORPORATION | NYSE: DAC 13 Substantial Containership Fleet Employment and Charter Coverage(1) (1) On the basis of US GAAP revenue accounting and concluded charter contracts through July 31, 2026. (2) Age as of June 30, 2026. deno tes firm charter perio d 1 1 deno tes firm charter perio d 2 deno tes o ptio nal perio d at the o ptio n o f the charterer As of Jul y 31, 2026 Charter Charter Containership Vessel TEU Age Rate Expiry Rate Expiry Phoebe 6,014 2 $ 35,000 Dec 2026 $ 32,500 Oct 2031 222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Greenhouse 6,014 1 $ 35,000 Oct 2027 $ 32,500 Aug 2032 22222222222222222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Wide Alpha 5,466 12 $ 34,000 Jul 2027 $ 27,450 Jan 2030 22222222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Stephanie C 5,466 12 $ 33,750 Sep 2028 222222222222222222222222222222222222222222222222222222222222222222222222222222222 0000000 0000000000000000000000000000000000 0000000000000000000000000000000000 E uphrates 5,466 12 $ 33,750 Sep 2028 222222222222222222222222222222222222222222222222222222222222222222222222222222222 0000000 0000000000000000000000000000000000 0000000000000000000000000000000000 Wide Hotel 5,466 11 $ 34,000 Sep 2027 $ 27,450 Mar 2030 22222222222222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Wide India 5,466 11 $ 33,750 Oct 2028 222222222222222222222222222222222222222222222222222222222222222222222222222222222 0000000 0000000000000000000000000000000000 0000000000000000000000000000000000 Wide Juliet 5,466 11 $ 25,000 Sep 2026 $ 30,000 Aug 2027 222222222111111111111111111111111111111111 Suez Canal 5,610 24 $ 30,000 Apr 2028 2222222222222222222222222222222222222222222222222222222222222222 Kota Lima 5,544 24 $ 24,000 Nov 2026 $ 42,500 Nov 2028 222222222222222111111111111111111111111111111111111111111111111111111111111111111111111 Tongala 4,253 22 $ 30,000 Nov 2026 $ 28,000 Oct 2029 22222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Derby D 4,253 22 $ 36,275 Jan 2027 $ 28,000 Dec 2029 222222222222222222221111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Seattle C 4,253 19 $ 30,000 Dec 2026 $ 33,000 Jun 2029 222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Vancouv er 4,253 19 $ 30,000 Nov 2026 $ 28,000 Oct 2029 2222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Rio Grande 4,253 18 $ 30,000 Nov 2026 $ 28,000 Oct 2029 222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Paolo 4,253 18 $ 26,000 Nov 2027 222222222222222222222222222222222222222222222222222 Kingston 4,253 18 $ 35,500 Jun 2027 $ 32,500 Jun 2029 222222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111 Monaco 4,253 18 $ 30,000 Nov 2026 $ 33,000 May 2029 22222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Dalian 4,253 17 $ 27,250 Apr 2028 2222222222222222222222222222222222222222222222222222222222222222 Jamaica 4,253 17 $ 35,000 Aug 2028 22222222222222222222222222222222222222222222222222222222222222222222222222222 Dimitris C 3,430 25 $ 30,000 Sep 2027 222222222222222222222222222222222222222222222 00000000 0000000 0000000 0000000 00000000 00 Colombo 3,314 22 $ 28,500 Mar 2027 $ 28,200 Sep 2029 2222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Singapore 3,314 22 $ 27,750 May 2027 $ 28,200 Nov 2029 22222222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 E xpress Argentina 3,400 16 $ 27,000 Dec 2026 $ 26,000 Sep 2029 222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 E xpress Brazil 3,400 16 $ 30,000 Apr 2027 22222222222222222222222222222 00000 0000000 00000000 0000000 0000000 0000 E xpress France 3,400 16 $ 30,000 Jul 2027 222222222222222222222222222222222222222 0000 00000000 0000000 0000000 0000000 00000 E xpress Spain 3,400 16 $ 28,500 Mar 2027 $ 28,200 Sep 2029 22222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 E xpress Black Sea 3,400 15 $ 28,500 Mar 2027 $ 28,200 Sep 2029 2222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111 Future 2,200 29 $ 19,990 Sep 2027 2222222222222222222222222222222222222222222 Sprinter 2,200 29 $ 19,990 Nov 2027 222222222222222222222222222222222222222222222222222 Phoenix D 2,200 29 $ 20,000 Jun 2027 222222222222222222222222222222222222 Adv ance 2,200 29 $ 19,990 Sep 2027 22222222222222222222222222222222222222222222 Progress C 2,200 28 $ 19,990 Jan 2028 222222222222222222222222222222222222222222222222222222222 Highw ay 2,200 28 $ 17,000 Jan 2028 22222222222222222222222222222222222222222222222222222222 Bridge 2,200 28 $ 16,000 Jan 2028 22222222222222222222222222222222222222222222222222222222 Artotina 2,524 25 $ 26,000 Nov 2027 2222222222222222222222222222222222222222222222222 Zebra 2,602 25 $ 19,000 Apr 2027 $ 21,000 Apr 2029 222222222222222222222222222111111111111111111111111111111111111111111111111111111111111111111111111 2036 Q1 2033 2034 Q2 2032 Q4 20312029 Q3 Q4Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2Q2 Q3Q2 Q3 Q4 2027 Q4 Q1Q3 2026 2028 Q1 Q2 Q3 Q4Q1 Q1 2030 Q3 Q4 Q1 Q2 Q3Q2 Q3 Q4Q1 Q2 Q4 2035 Q3 Q4 Current charter Next Charter 2031 2032 2033 2034 2035 20362026 2027 2028 2029 2030 Q4 Q1 Q2 Q3 Q4 Q1Q3 Q2 Q3 Q4 Q1 Q2 Q3Q4 Q1 Q2 Q3 Q4 Q1Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4Q2 Q3 Q4 Q1 Q2 Q3Q4 Q1 Q2 Q3 Q4 Q1 12x 4,250 – 5,600 TEU 9x 2,200 – 2,600 TEU 8x 3,400TEU 6x 5,466 TEU (wide beam) 2x 6,014 TEU (Methanol Ready)
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DANAOS CORPORATION | NYSE: DAC 14 Substantial Containership Fleet Employment and Charter Coverage(1) (1) On the basis of US GAAP revenue accounting and concluded charter contracts through July 31, 2026. (2) Age as of June 30, 2026. deno tes firm charter perio d 1 1 deno tes firm charter perio d 2 deno tes o ptio nal perio d at the o ptio n o f the charterer As of Jul y 31, 2026 Charter Charter Containership Newbuildings TEU Age Rate Expiry Rate Expiry HN CV5900-09 6,014 - $ 34,900 Mar 2032 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN C7100-9 7,165 - $ 38,500 Jul 2032 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN C7100-10 7,165 - $ 38,500 Aug 2032 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN YZJ2023-1557 8,258 - $ 42,000 Sep 2031 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN YZJ2024-1612 8,258 - $ 42,000 Sep 2031 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN YZJ2024-1613 8,258 - $ 42,000 Apr 2032 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN YZJ2024-1625 8,258 - $ 42,000 Jun 2032 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN YZJ2024-1626 8,258 - $ 42,000 Aug 2032 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN YZJ2024-1668 8,258 - $ 42,000 Sep 2032 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN C9200-7 9,200 - $ 50,000 Nov 2031 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN C9200-8 9,200 - $ 50,000 Mar 2032 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN C9200-9 9,200 - $ 50,000 Sep 2032 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN C9200-10 9,200 - $ 50,000 Feb 2033 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN C9200-11 9,200 - $ 50,000 Jul 2033 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN H2596 9,200 - $ 48,500 Sep 2033 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN H2597 9,200 - $ 48,500 Nov 2033 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN S1162 1,800 - $ 16,500 Nov 2037 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN S1163 1,800 - $ 16,500 Feb 2038 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN S1164 1,800 - $ 16,500 May 2038 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN S1165 1,800 - $ 16,500 Aug 2038 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN NGY0041 5,000 - $ 29,800 Sep 2034 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 HN NGY0042 5,000 - $ 29,800 Dec 2034 222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 Q1 Q3 Q4 2037 Q1 Q2 Q3 Q4 Q2 Q1 2036 Q1 Q2 Q3 2037 Q1 Q2 Q3 Q4 2033 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2034 Q1 Q2 Q3 Q4 2032 Q1 Q2 Q3 Q4Q3 Q4 Q2 2029 Q1 Q2Q1 Q2 Q3 Q4 Q4 2027 Q2 2028 Q2 Q3Q3 2027 Current charter Next Charter Q3 Q4 Q1Q3 Q4 Q1 Q2 2026 Q1Q4 Q1 Q2 Q3 Q4 2029 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2030 Q1 Q2 Q3 Q4 2031 Q3 Q4 Q3 Q4 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2035 Q1 Q2 Q3 Q4 Q4 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2038 2039 2041 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2041 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2038 2039 2040 Q3 Q4 Q1 Q2 Q3 2031 2032 204020352034203320282026 2030 2036 1x 6,014 TEU (Methanol Ready) 6x 8,258 TEU (Methanol Ready) 7x 9,200 TEU (Methanol Ready) 2x 7,165 TEU (Methanol Ready) 4x 1,800 TEU 2x 5,000 TEU (Methanol Ready)
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No. Vessel Type DWT Built Age(1) 1 Genius Capesize 175,580 2012 14 2 Danaos Capesize 176,536 2011 15 3 Ingenuity Capesize 176,022 2011 15 4 Achievement Capesize 175,966 2011 15 5 Valentine Capesize 175,125 2011 15 6 Gouverneur Capesize 178,043 2010 16 7 Integrity Capesize 175,966 2010 16 8 Peace Capesize 175,858 2010 16 9 E Trader Capesize 175,886 2009 17 10 W Trader Capesize 175,879 2009 17 11 John Junior Capesize 182,425 2009 17 No. Hull No. Type DWT Expected 1 DJCFD010 Newcastlemax 211,000 2028 2 DJCFD011 Newcastlemax 211,000 2028 3 DJCFD016 Newcastlemax 211,000 2028 4 DJCFD017 Newcastlemax 211,000 2028 Drybulk Fleet - Summary As of June 30, 2026 DANAOS CORPORATION | NYSE: DAC 15 (1) Age as of June 30, 2026. (2) Four Newcastlemax vessels of approximately 211,000 DWT capacity each, added to our orderbook and expected to be delivered in 2028. • Drybulks • Drybulk newbuildings orderbook (2)
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Experienced Senior Management DANAOS CORPORATION | NYSE: DAC 16 Dr. John Coustas, President & Chief Executive Officer Evangelos Chatzis, Vice President & Chief Financial Officer Dimitris Vastarouchas, Vice President & Chief Operating Officer Filippos Prokopakis, Chief Commercial Officer • CEO since 1987 • Over 35 years of experience in the shipping industry • Vice Chairman of the board of directors of The Swedish Club; member of the board of directors of the Union of Greek Shipowners and member of the DNV Council • Joined Danaos in 2005 • Over 30 years of experience in corporate finance and the shipping industry • Formerly CFO of Globe Group of Companies • Danaos Technical Manager since 2005 • Has over 20 years of experience in the shipping industry • Formerly New Buildings Projects and Site Manager supervising the construction of 4,250, 5,500 and 8,500 TEU containerships • Joined Danaos in 2012 • Over 13 years of experience in commercial operations, including chartering and S&P activities, in the shipping and logistics industry
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NYSE: DAC | www.danaos.com Leading Containership Owner and Operator
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522 486 397 259 227 128 1,917 634 853 732 442 313 308 200 256 244 196 135 155 126 141 176 74 84 59 63 700 452 30 41 99 16 26 Costamare Danaos Global Ship Lease Fredriksen Group Navios Maritime MPC Containerships Seaspan Eastern Pacific Shpg Shoei Kisen Kaisha Zodiac Maritime BoCom Leasing Nissen Kaiun C-P Offen Peter Dohle Minsheng Leasing China Merchants Bank CSSC Doun Kisen ICBC Leasing Schulte Group Existing TEU (000s) On Order DANAOS CORPORATION | NYSE: DAC 18 50 Year Legacy of Leadership in Container Shipping 1987 Dr. John Coustas steps into Chief Executive role 2006 NYSE IPO Raised $200mn 2018 Refinancing 2020 to 2026 Strong Free Cash Flow generation and Deleveraging 1972 Founded by Dimitris Coustas 2005 Incorporation in Marshall Islands 2010 $200mn equity raise 2019 $56mn public offering Market Share Among Top Public Containership Owners Globally (By TEU, thousands) Publicly Traded Owners Financial / Independent Owners Source: Clarksons Research
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2% 8% 22% 9% 4% 8% 4% 2% 15% 1% 3% 14% 3% 5% 9x 2,200 – 2,600 TEU Average Age: 27.8 years Remaining Charter Term: 1.7 years 5x 13,100 TEU Average Age: 14.2 years Remaining Charter Term: 0.8 years 5x 9,600 - 10,100 TEU Average Age: 17.0 years Remaining Charter Term: 4.4 years 17x 8,000 - 9,000 TEU Average Age: 14.2 years Remaining Charter Term: 4.4 years 11x 6,400 – 7,165 TEU Average Age: 14.8 years Remaining Charter Term: 4.2 years 12x 4,300 – 5,600 TEU Average Age: 19.8 years Remaining Charter Term: 2.8 years 8x 3,300 - 3,400 TEU Average Age: 18.5 years Remaining Charter Term: 2.9 years 6x 5,500 TEU Wide Beam Average Age: 11.6 years Remaining Charter Term: 2.8 years 9x NBs 7,165 - 8,300 TEU Remaining Charter Term : 5.0 years 1x NB 6,000 TEU Remaining Charter Term : 4.8 years 7x NBs 9,200 TEU Remaining Charter Term : 5.2 years 2x 6,000 TEU Average Age: 1.0 years Remaining Charter Term : 5.8 years 4x NBs 1,800 TEU Remaining Charter Term : 9.9 years 2x NBs 5,000 TEU Remaining Charter Term : 7.3 years DANAOS CORPORATION | NYSE: DAC 19 A Diverse & High-Quality Fleet Containership Fleet Overview(1) 1) Figures as of June 30, 2026, on the basis of concluded charter contracts for containerships through July 31, 2026.
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20% 20% 16% 16% 7% 6% 4% 3% 3% 5% DANAOS CORPORATION | NYSE: DAC 20 Charter Backlog to Leading Container Operators 1) Cash Contracted Revenue and average charter duration as of June 30, 2026, on the basis of concluded charter contracts for containership through July 31, 2026, and assuming at the earliest charter expiry. Charter backlog of $4.6 billion through to 2038(1) Average charter duration of 4.7 years (weighted by aggregate contracted charter hire) (1) Fleet utilization for Q2 2026 97.7% Containership Charter Backlog (Contracted TEU capacity per charterer)
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DANAOS CORPORATION | NYSE: DAC 21 Track Record of Operational Excellence As part of a benchmarking exercise conducted by a global management consulting firm, Management Practice Performance and Safety & Quality Performance was assessed across a number of metrics and benchmarked against 24 companies (with a total of 910 vessels) in the Container Segment. In almost all metrics, Danaos has outperformed the benchmark average, highlighting the best in class operating management of Danaos’ Fleet. Customer Testimonial “Danaos Corporation is one of the first class ship owner in the container shipping industry and one of the preferred ship owner for CMA CGM. With 20 vessels on Time Charter, Danaos is largest ship provider for CMA CGM Group. For more than 15 years, Danaos has been providing the Group with modern and reliable vessels and has gained a reputation for strong Ship management that has proven its efficiency even in critical situations. We have been enjoying a great cooperation from top to bottom in Danaos organization allowing us to realize a number of innovative projects on newbuildings and vessels’ retrofit. With its experience and corporate values, Danaos is improving the standards of the industry which benefits to other ship owners/ship managers who apply Ship management practices.” Source: Benchmark from a global management consulting firm. (1) Based on a self-assessment of participating companies – a zero indicates that N/A was submitted Danaos' Management Practice Performance (1) vs SBI average Danaos' Safety and Quality Performance1 vs SBI average
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DANAOS CORPORATION | NYSE: DAC 22 Pioneers in Digitization Supporting Danaos’ Class Leading Operational Excellence Source: Danaos 2019 Sustainability Report. Early innovator in utilising technology in optimising operations: 1995 2004 2015 International Safety Management Certification of its container fleet Lloyd’s List Technical Innovation Award – Advances in internet-based telecommunication methods for vessels Lloyd’s List Intelligence Big Data Award – “WAVES” fleet performance system An ongoing focus in developing a best in class vessel management platform supporting an effective utilisation of data • $87mn invested in energy efficiency initiative and technology over the last decade, with c. $45mn dedicated to optimizing consumption and the reduction of emissions • The study of 38 energy efficiency improvement measures • The development of the WAVES data analytics platform to take advantage of both office and ship- generated data to bring added value in an environment where data flows are constantly increasing
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DANAOS CORPORATION | NYSE: DAC 23 Leading Digitization Performance Danaos Software Capability Danaos utilises its leading management software capability, aiding in the optimal management of its fleet Note: based on a self-assessment of participating companies – scores are an average of the answers ticked off in the questionnaire Source: Benchmark from a global management consulting firm
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DANAOS CORPORATION | NYSE: DAC 24 Longstanding Champion of ESG Principles Danaos Management is keenly focused on maintaining a strong ESG framework for company operations Danaos met the IMO 2030 carbon intensity targets 11 years ahead of requirements in 2019 and continues to meet the target with a 56.2% reduction in CO2 emissions per ton miles for year 2025 Source: Company’s reporting on ESG. (1) CO2 emission, SO2 and NOx emissions are measured in gr/tn*miles Environmental Advanced solutions to reduce emissions through fuel efficiency optimization Scrubber installation on select vessels Low-sulfur fuel oil to be procured Ballast water system compliance Partnership with founders of Poseidon Principles Social Code of ethics and compliance policies published for Directors / Officers Accredited by Global Reporting Initiative (GRI) for sustainability best practices and socially responsible management Governance Independent Board Clear reporting of transactions with Danaos Shipping (Manager) − Amounts approved by independent board members Arms length cost arrangements, which are amongst lowest in industry and fixed through 2026 Last 3 Years Progress 14% increase in the use of HSFO 9% decrease in the use of VLSFO, ULSFO and Biofuel blend 1.4% decrease in CO2 emissions(1) 1.2% decrease in SOx emissions (1) and 2% decrease in NOx emissions (1) ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓✓ ✓ ✓
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NYSE: DAC | www.danaos.com Robust Capital Structure and Conservative Financial Strategy
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Strategic Initiatives & Growth Building long-term shareholder value Fleet Expansion Dry Bulk Fleet Diversification Contract Coverage Investments Capital Allocation & Liquidity Environmental DANAOS CORPORATION | NYSE: DAC 26 (1) Available Liquidity includes Cash and Cash Equivalents, available and undrawn Credit Commitment, and Marketable Securities as of June 30, 2026. • 76 operating containerships - 485,749 TEU total capacity • 28 containership newbuildings ordered - 176,292 TEU total capacity • 22 of 28 secured under long-term charters • Deployed $2.1B of capital since 2021, financing 31 vessel acquisitions (secondhand and newbuilding) alongside 31 newbuilding progress installments • Re-entered dry bulk segment • Acquired 11 Capesize carriers • Ordered 4 Newcastlemax newbuildings (~211,000 DWT) for 2028 delivery • $4.6B backlog through 2038 • 100% coverage for 2026 • 93% coverage for 2027 • 79% coverage for 2028 • 61% coverage for 2029 • LNG sector entry: $50M equity investment in Glenfarne Group partnership for the Alaska LNG project • Yoda PLC: 1.9% equity stake acquired for €50M (~$58.6M) • Star Bulk Carriers (SBLK): 6,256,181 shares acquired, representing a 5.6% stake • $1.5B available liquidity⁽¹⁾ as of June 30, 2026 • 3,247,444 shares repurchased for $235.1M under the upsized $300M buyback program • $312.2M in dividends paid since 2021, as of June 30, 2026 • Decarbonization-ready fleet expansion • IMO Tier III & EEDI Phase III standards across all newbuildings • Methanol-ready and scrubber-equipped containerships, with select vessels ammonia- ready • Scrubbers fitted on all newbuilding dry bulk carriers
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$84 $33 $131 $154 $1,053 $559 $576 $505 $495 $541 $115 $131 $149 $171 $362 $711 $568 $532 $486 $511 $200 $0 $200 $400 $600 $800 $1,000 $1,200 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 2Q 26 Net Income Adj. Net Income $310 $318 $311 $318 $509 $851 $707 $723 $719 $739 $0 $200 $400 $600 $800 $1,000 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 2Q 26 $452 $459 $447 $462 $690 $993 $974 $1,014 $1,042 $1,055 $0 $200 $400 $600 $800 $1,000 $1,200 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 2Q 26 DANAOS CORPORATION | NYSE: DAC 27 Historical Financial Highlights Revenues USDm Adjusted EBITDA USDm Net Income and Adjusted Net Income USDm Source: Company Filings, Quarter ended June 30, 2026. Note: Please refer to the Appendix tables for reconciliations of non-GAAP to GAAP measures.
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$268 $272 $453 $1,037 $1,008 $382 $338 $293 $248 $225 $67 $77 $139 $66 $129 $650 $609 $746 $1,285 $1,233 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 2017 2018 2019 2020 2021 2022 2023 2024 2025 2Q 26 Cash and Cash Equivalents Undrawn Revolving Credit Facility $2,274 $1,615 $1,443 $1,440 $1,249 $243 $139 $291 $140 $224 7.4x 5.1x 4.6x 4.5x 2.5x 0.3x 0.2x 0.4x 0.2x 0.3x 0.0x 2.0x 4.0x 6.0x 8.0x $0 $1,000 $2,000 $3,000 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 2Q 26 Net Adjusted Debt Net Debt / Adjusted EBITDA (RH Axis) DANAOS CORPORATION | NYSE: DAC 28 Focused on Maintaining Conservative Capital Structure A robust deleveraging profile… • Early repayment of $972.2M of debt and leaseback obligations in 2022 leading to 7.1x reduction in net leverage since 2017 • Net Debt / LTM 2Q 2026 Adjusted EBITDA(1) at 0.3x as of June 30, 2026 …supported by charter backlog • Charter backlog of $4.6B(3) from strong container operators supports cash flow generation • Cash and Cash Equivalents of $1,008Mas of June 30, 2026 • Undrawn RCF with $225M capacity as of June 30, 2026 Source: Company Filings. (1) Based on outstanding debt less cash and cash equivalents as of June 30, 2026Adjusted EBITDA is a non-GAAP measure. See appendix for definitions and reconciliations to the nearest GAAP measure. (2) Excludes Restricted Cash. (3) Cash Contracted Revenue as of June 30, 2026, on the basis of concluded charter contracts through July 31, 2026, and assuming at the earliest charter expiry. Decrease in Net Debt by $2.1 billion De-leveraging Profile Net Debt - Adjusted EBITDA Multiple(1) Cash and Cash Equivalents(2) and Undrawn Revolving Credit Facility USDm
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$739 $716 $685 $52 ($12) ($35) ($29) ($31) Adjusted EBITDA LTM 2Q 2026 Net Cash Interest Dry Docking Early Charterhire Prepayment Other Operating Cash Flow Contractual Debt Amortization⁽²⁾ Free Cash Flow LTM 2Q 2026 DANAOS CORPORATION | NYSE: DAC 29 Strong Free Cash Flow Visibility & Great Conversion to OCF Source: Data as of June 30, 2026; Note: Recurring Free Cash Flow calculated excluding non-recurring items such as Vessels Addition, Capital Expenditures and Financing Costs; (1) Non-GAAP measure. (2) Contractual debt amortization as per the terms of agreements and excludes voluntary early repayment. See appendix for definitions and reconciliations to the nearest GAAP measure. (1) LTM 2Q 2026 FCF excludes CapEx and one-time / extraordinary items Drivers of FCF High utilization Operational efficiency Uses of FCF Capex and Investments Dividends Shares repurchase LTM 2Q 2026 Free Cash Flow(1) Bridge USDm
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47% 12% 41% 47% 53% Floating Rate Debt Fixed Rate Debt Bond Variable rate Fixed rate $12.9 $29.2 $32.1 $34.1 $36.0 $38.1 $40.2 $93.0 $417.1$500.0 $0 $100 $200 $300 $400 $500 $600 2026 (Remaining) 2027 2028 2029 2030 2031 2032 2033 2034 Debt Amortization Bond DANAOS CORPORATION | NYSE: DAC 30 Financial Debt Maturity Profile of Outstanding Indebtedness as of June 30, 2026 Well-balanced repayment profile (1) USDm Breakdown of Financial Debt $1,233m Credit Position Source: Company filings. (1) Scheduled debt maturities are based on the terms of agreements as of June 30, 2026. • Corporate credit rating at BB+ and Ba1 and senior unsecured debt rating of BB+ and Ba2, by S&P and Moody’s, respectively • Total fleet: 87 vessels, of which 78 are debt-free • 66 unencumbered • 12 pledged as collateral under the $382.5M revolving credit facility (currently undrawn) • Available committed borrowing capacity (subject to customary conditions precedent to drawdown): • $225M under the Citibank revolving facility • $792.25M under the syndicated $850M facility • $236M under JOLCO facilities • $132M under senior secured facility
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Container Vessel Demand & Supply Side Dynamics NYSE: DAC | www.danaos.com
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DANAOS CORPORATION | NYSE: DAC 32 Container Trade: Risks in 2026 Followed by Rebound in 2027 • World Container Trade & GDP , 2000 – 2027F • Source: MSI, July 2026 • Note (1): Forecast (F) for 2026 and 2027 is basis the latest available data in July 2026 and is subject to revision. 242 Mn Teu 2026(F) World Container Trade 1.7% 2026(F) Trade yoy Growth 253 Mn Teu 2027(F) World Container Trade 4.4% 2027(F) Trade yoy Growth -10.0% -7.5% -5.0% -2.5% 0.0% 2.5% 5.0% 7.5% 10.0% 12.5% 15.0% 17.5% 0 25 50 75 100 125 150 175 200 225 250 275 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026F 2027F % yoyMn TEU World Container Trade World GDP Growth (RH Axis) Containerised Trade Growth (RH Axis)
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0 2 4 6 8 10 12 Far East-MEISC WB Far East-L. America SB Far East-Africa SB Mn TEU 2020 2021 2022 2023 2024 2025 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 2.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Mn TEU 2020 2021 2022 2023 2024 2025 2026 DANAOS CORPORATION | NYSE: DAC 33 Demand: US Imports Begin Recovery While Chinese Exports Remain Strong 7.8% US Far East TEU Imports, Q2 2026 vs Q2 2025 - 0.2% US Far East TEU Imports, 2025 vs 2024 + 14.5% Far East TEU Exports to ME/ISC (WB), 2025 vs 2024 + 26.5% Far East TEU Exports to Africa (SB), 2025 vs 2024 • Source: MSI, Bloomberg, Container Trade Statistics, July 2026 • Note: MEISC = Middle East + Subcontinent • US Containerised Imports from Far East, 2020-26 • Annual Far East Exports to Non-Mainlane Import Regions
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0 1000 2000 3000 4000 5000 6000 7000 8000 9000 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 Jan-25 Apr-25 Jul-25 Oct-25 Jan-26 Apr-26 $/FEU Far East-N. Europe Far East-USWC 0% 5% 10% 15% 20% 25% 30% Red Sea Nov-23 SoH Feb-26 % Share Share of World Container Trade Share of Deployed Continership Capacity DANAOS CORPORATION | NYSE: DAC 34 Middle East Crisis: Containership Exposure Smaller than Red Sea Crisis • Container Market Exposure: Strait of Hormuz vs Red Sea • Source: MSI, Xeneta Shipping Index, July 2026 20% Share of Container Trade Transiting Red Sea, Nov 23 3.5% Share of Container Trade Transiting SoH, Feb 26 26% Share of Container Capacity Transiting Red Sea, Nov 23 9.0% Share of Container Capacity Transiting SoH, Feb 26 • Containership Spot Freight Rate Trends Houthi Attacks Iran War
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DANAOS CORPORATION | NYSE: DAC 35 US Tariffs: Chinese US Market Share Extensive, Options to Diversify Over Time • US Containerised Imports by Source, 2025 • Source: MSI, US Census Bureau, CTS, July 2026 • Note: Shares in second graph exclude cabotage/domestic trades 39% China Share of US TEU Imports, 2025 19% US Share of China TEU Exports, 2025 21% US Share of World Container Imports, 2025 7.5% China-US Share of Non-Cabotage Container Trade, 2025 • World Container Trade by Region, 2025 China/Hong Kong, 39% Japan, Korea, Taiwan, 9% ASEAN, 18% Europe, 17% Latin America, 9% Middle East/Subcontinent, 7% Other, 1% 12%, China 36%, China19%, US 8%, US 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Container Imports Container Exports % Share Oceania/Other Africa Latin America Mid East/Subcontinent Europe Other Far East US China
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0 20 40 60 80 100 120 140 160 180 200 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 Jan-25 Apr-25 Jul-25 Oct-25 Jan-26 Apr-26 $k/Day 2,000 TEU 3,500 TEU 4,300 TEU 6,500 TEU 8,500 TEU 13,000 TEU DANAOS CORPORATION | NYSE: DAC 36 Container Timecharter Rates: The Market Remains Firm • 1-Year Timecharter Market Rates, Jan 2018 – Jun 2026 • Source: MSI, July 2026, Monthly Average Values +202% 8,500 TEU Charter Rate % Ch: Jun 26 vs. Avg 2010-19 +278% 6,500 TEU Charter Rate % Ch: Jun 26 vs. Avg 2010-19 +431% 4,300 TEU Charter Rate % Ch: Jun 26 vs. Avg 2010-19 +406% 3,500 TEU Charter Rate % Ch: Jun 26 vs. Avg 2010-19
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0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0.1-1.3 k TEU 1.3-2.9 k TEU 2.9-3.9 k TEU 3.9-5.2 k TEU 5.2-7.6 k TEU 7.6-12 k TEU 12+ k TEU 18.2 14.0 12.7 17.7 16.2 13.0 7.0 % Share 25+ Years 20-24 Years 15-19 Years 10-14 Years 5-9 Years 0-4 Years Avg. Age 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 0.1-1.3 k TEU 1.3-2.9 k TEU 2.9-3.9 k TEU 3.9-5.2 k TEU 5.2-7.6 k TEU 7.6-12 k TEU 12+ k TEU Mn TEU DANAOS CORPORATION | NYSE: DAC 37 Supply: Sub-12 k TEU Fleet Renewal Continues as 12+ k TEU Orders Stall • Source: MSI, July 2026 39.6% Industry Orderbook-to-Fleet Ratio, Jul 26 27.3% Orderbook-to-Fleet Ratio: Sub-12,000 TEU Fleet, Jul 26 15.6 Years Average Age: Sub-12,000 TEU Fleet, Jul 26 7.0 Years Average Age: 12,000+ TEU Fleet, Jul 26 • Containership Orderbook, Jul 2026 • Age Profile of Fleet: Smaller Vessel Fleet Ageing 22.8% of Fleet 35.4% of Fleet 57.5% of Fleet
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0% 30% 60% 90% 120% 150% 180% 210% 240% 0 200 400 600 800 1000 1200 1400 1600 0.1-1.3 k TEU 1.3-2.9 k TEU 2.9-3.9 k TEU 3.9-5.2 k TEU 5.2-7.6 k TEU %k TEU 30+ Year Fleet 25-29 Year Fleet 20-24 Year Fleet Orderbook vs 20+ Yr Fleet (RH Axis) -400 -200 0 200 400 600 800 1000 Q1 14 Q4 14 Q3 15 Q2 16 Q1 17 Q4 17 Q3 18 Q2 19 Q1 20 Q4 20 Q3 21 Q2 22 Q1 23 Q4 23 Q3 24 Q2 25 Q1 26 k TEU Containership Demolitions Containership Deliveries DANAOS CORPORATION | NYSE: DAC 38 Supply: Deliveries Volumes Lower but Scrapping Volumes Still Negligible • Source: MSI, July 2026 260 k TEU Containership Deliveries, Q2 26 372 k TEU Containership Deliveries, Average Q1 15-Q2 26 8 k TEU Containership Demolitions, Q2 26 45 k TEU Containership Demolitions, Average Q1 15-Q2 26 • Containership Deliveries versus Scrapping, 2014-26 • 20+ Year-Old Fleets vs Segment Orderbooks
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0% 15% 30% 45% 60% 75% 90% 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Jan-15 Jun-15 Nov-15 Apr-16 Sep-16 Feb-17 Jul-17 Dec-17 May-18 Oct-18 Mar-19 Aug-19 Jan-20 Jun-20 Nov-20 Apr-21 Sep-21 Feb-22 Jul-22 Dec-22 May-23 Oct-23 Mar-24 Aug-24 Jan-25 Jun-25 Nov-25 Apr-26 % ShareMn TEU Tonnage Provider Owned Liner Owned NOO % of Idle Fleet (RH Axis) 2015-2017 72% NOO Owned 2023-2026 22% NOO Owned DANAOS CORPORATION | NYSE: DAC 39 Idle Capacity: Remains Very Low, below 1% of Fleet • Idle Containership Capacity: Liner Company Owned vs Tonnage Provider Owned • Source: MSI, July 2026 • Note (1): NOO = Non-Operating Owner (Tonnage Provider). The volume of idle capacity remains at a low level 0.7% Idle Fleet at End-Jun 26 vs. Peak of 11% in May 20 72% Share of Idle Capacity owned by Tonnage Providers, 2015-2017 22% Share of Idle Capacity owned by Tonnage Providers, 2023-2026
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0 100 200 300 400 500 600 700 Jan-22 Mar-22 May… Jul-22 Sep-22 Nov… Jan-23 Mar-23 May… Jul-23 Sep-23 Nov… Jan-24 Mar-24 May… Jul-24 Sep-24 Nov… Jan-25 Mar-25 May… Jul-25 Sep-25 Nov… Jan-26 Mar-26 May… # Unique Vessels per Month VLCV (12,000+ TEU) Large (7,600-11,999 TEU) Midsize (3,900-7,599 TEU) Feeder (Sub-3,900 TEU) DANAOS CORPORATION | NYSE: DAC 40 Red Sea: Transits Far Below 2023 Levels, Unlikely to Change in Near-Term • Bab-Al Mandeb Strait Containership Transits, Unique Vessels Per Month, 2022-26 • Source: MSI SEASCAPE, July 2026 Red Sea Diversions Remain Extensive 187 # of Unique Containerships Transiting Red Sea, Jun 26 144 # of Unique Containerships Transiting Red Sea, Jun 25 539 # of Unique Containerships Transiting Red Sea, Jun 23
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0.0 1.0 2.0 3.0 4.0 5.0 6.0 Europe-Africa Europe-LatAm Europe-Mid East/ISC Far East-Africa Far East-LatAm Far East-Mid East/ISC Far East-Oceania Transatlantic Transpacific Deployed Capacity, Mn TEU Danaos Fleet Segment Other Vessel Sizes DANAOS CORPORATION | NYSE: DAC 41 2,200-13,200 TEU Fleet: Workhorses of Long-Distance Container Trades • Danaos Fleet Segment Share of Long-Distance Trade Deployment • Source: MSI, July 2026 • Note (1): Transpacific figure excludes Pendulum loops. Orderbook-to-Fleet Ratio in Danaos Fleet Segment 69.5% Share of Capacity on Key Long- Distance Trades 40.5% Danaos Fleet Segment Share of Industry Orderbook 53.8% Danaos Fleet Segment Share of Total Fleet 29.8% 63.7% of long-haul container trade volumes Danaos fleet segments provide 69.5% of capacity
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0.0 2.0 4.0 6.0 8.0 10.0 12.0 MSC Maersk Hapag-Lloyd CMA CGM COSCO Evergreen ONE HMM Yang Ming Zim Wan Hai PIL Gemini OCEAN Premier Alliance Independent Mn TEU Orderbook Fleet DANAOS CORPORATION | NYSE: DAC 42 Alliance Shake-Up Boosts Vessel Requirements, Current Landscape Faces New Risks • Alliance Landscape (Current Fleets and Orderbooks) • Source: MSI, July 2026 • Note (1): Orderbooks include reported orders as of Jul 2026 yet to receive final confirmation, but excludes options. • Note (2): Data shows total operated fleets of liner operators, not only capacity allocated to alliance services Recent wave of consolidation between liner operators 10 Global Liner Companies, 2025 vs. 20 in 2015 3 Number of Alliances Operating on Mainlane Trades 85 Proportion of Fleet Operated by Top 10 Liners 1 2 3 4 Consolidation between liner companies provides more stable set of counterparties Alliance patterns have changed with end of 2M alliance in 2025, and formation of Gemini Cooperation (Maersk + Hapag-Lloyd) Hapag-Lloyd’s proposed takeover of Zim planned for later this year continues consolidation trend US and Chinese port fees set to return in Q4 2026
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Drybulk Vessel Demand & Supply Side Dynamics NYSE: DAC | www.danaos.com
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DANAOS CORPORATION | NYSE: DAC 44 Capesize: Markets Strengthen in H1 2025 due to a Cocktail of Disruptions • Weekly Average Capesize Spot Rate Developments, 2021-26 • Source: MSI, Baltic Exchange, July 2026 • Note (1): Data is basis the Baltic Exchange’s C5TC Capesize Timecharter Average benchmark $29,404 k/Day Baltic C5TC, Weekly Average H1 2026 $21,151 k/Day Baltic C5TC, Weekly Average 2025 $22,493 k/Day Baltic C5TC, Weekly Average 2024 $16,609 k/Day Baltic C5TC, Weekly Average, 2023 • Capesize earnings were particularly strong in the first half of 2026, supported by robust Brazilian and Australian iron ore shipments alongside another substantial increase in Guinean bauxite exports. • However, strong trade growth was not the only driver. The onset of conflict in the Middle East introduced additional inefficiencies into the Capesize market, including cargo rerouting and slower sailing speeds, further tightening vessel availability. 0 10 20 30 40 50 60 70 80 90 wk 1 wk 3 wk 5 wk 7 wk 9 wk 11 wk 13 wk 15 wk 17 wk 19 wk 21 wk 23 wk 25 wk 27 wk 29 wk 31 wk 33 wk 35 wk 37 wk 39 wk 41 wk 43 wk 45 wk 47 wk 49 wk 51 $ k/Day Range, 2015-20 2021 2022 2023 2024 2025 2026
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DANAOS CORPORATION | NYSE: DAC 45 Capesize: Iron Ore and Bauxite Trade Support Capesize Demand in 2026 • Incremental Iron Ore Trade Outlook • Source: MSI, July 2026 1255 MnT Chinese Iron Ore Imports 2025, + 1.4% yoy 201 MnT Chinese Bauxite Imports 2025, + 26% yoy +51 MnT Incremental Iron Ore Imports, 2026F (MnT) • Guinean Bauxite Exports -5.0% -2.5% 0.0% 2.5% 5.0% 7.5% -100 -50 0 50 100 150 2019 2020 2021 2022 2023 2024 2025 2026F % yoy Hundreds MnT Other Western Europe India Taiwan South Korea Japan China Cargo (RH Axis) 0 5 10 15 20 25 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec MnT 2022 2023 2024 2025 2026
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DANAOS CORPORATION | NYSE: DAC 46 Capesize: Chinese Iron Ore Imports Rise Despite Weakening Fundamentals • Monthly Chinese Steel Production (2022-2026) • Source: MSI, China Iron and Steel Association, Bloomberg, July 2026 - 44.3 MnT Incremental Chinese Steel Production 2025E - 14.2 MnT Incremental Chinese Steel Production 2026F + 11.2 MnT Chinese Port Inventory Growth H1 2026 • Chinese Iron Ore Stockpiles, 2021-26 0 20 40 60 80 100 120 140 160 180 Jan-21 May-21 Sep-21 Jan-22 May-22 Sep-22 Jan-23 May-23 Sep-23 Jan-24 May-24 Sep-24 Jan-25 May-25 Sep-25 Jan-26 May-26 MnT 60 65 70 75 80 85 90 95 100 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec MnT 2022 2023 2024 2025 2026
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DANAOS CORPORATION | NYSE: DAC 47 Capesize: Deliveries Pick Up as Scrapping Stalls • Capesize Deliveries and Scrapping, 2015-2026 • Source: MSI, July 2026 15.3% Capesize Orderbook-to-Fleet Ratio, 6M 2026 7.6% Capesize Orderbook-to- Fleet Ratio, End 2021 37.2% Share of Capesize Fleet sub- 10 Years Old, End 2025 56.2% Share of Capesize Fleet sub-10 Years Old, End 2021 • Age Profile of Capesize Fleet 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 6M 2026 % Share 25+ Years 20-24 Years 15-19 Years -10 -8 -6 -4 -2 0 2 4 6 8 10 Q2 15 Q4 15 Q2 16 Q4 16 Q2 17 Q4 17 Q2 18 Q4 18 Q2 19 Q4 19 Q2 20 Q4 20 Q2 21 Q4 21 Q2 22 Q4 22 Q2 23 Q4 23 Q2 24 Q4 24 Q2 25 Q4 25 Q2 26 Mn Dwt Scrapping Deliveries
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Appendix NYSE: DAC | www.danaos.com
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Reconciliation of Net Income / (Loss) to Adjusted Net Income 2026 2025 2026 2025 2026 2025 2025 2024 2023 2022 2021 2020 2019 2018 2017 Net Income / (Loss) $540,799 $459,474 $151,815 $130,904 $292,236 $246,051 $494,614 $505,073 $576,299 $559,210 $1,052,841 $153,550 $131,253 $(32,936) $83,905 Adjustments Amortization of finance costs 3,489 2,900 800 787 1,646 1,545 3,388 2,326 2,201 8,564 11,599 11,126 10,795 11,771 11,153 Finance costs accrued - - - - - - - - - - 149 522 556 2,059 3,169 Debt discount amortization 218 - - - 119 - 99 - - 2,956 4,314 5,690 6,071 3,186 - Impairment loss - - - - - - - - - - - - - 210,715 - Change in fair value of investments (56,681) 21,165 (20,897) (14,734) (44,357) (17,217) (29,541) 25,179 (17,867) 176,386 (543,653) - - - - One-off equity gain on investments - - - - - - - - - - (64,063) - - - - Loss / (Gain) on debt extinguishment 8,526 - 1,405 - 6,027 - 2,499 - 2,254 (4,351) (111,616) - - (116,365) - Re-financing professional fees - - - - - - - - - - - - - 51,313 14,297 Accelerated amortization of accumulated other comprehensive loss - - - - - - - - - - - - - 1,443 - Stock based compensation and one-off discretionary cash bonus 14,664 8,196 - - - - 14,664 8,196 6,340 5,440 12,686 - - - - Gain on disposal/sale of vessels - (1,238) - - - - - (8,332) (1,639) (37,225) - - - - - Adjusted Net Income $511,015 $490,497 $133,123 $116,957 $255,671 $230,379 $485,723 $532,442 $567,588 $710,980 $362,257 $170,888 $148,675 $131,186 $112,524 Diluted weighted average number of shares (thousands) 18,310 18,981 18,256 18,396 18,245 18,588 18,480 19,385 19,904 20,501 20,584 23,805 16,221 10,623 7,845 Adjusted Earnings per share, diluted $27.91 $25.84 $7.29 $6.36 $14.01 $12.39 $26.28 $27.47 $28.52 $34.68 $17.60 $7.18 $9.17 $12.35 $14.34 in thousands of U.S. dollars Last Twelve Months Ended June 30, Three Months Ended June 30, Year Ended December 31, Six Months Ended June 30, Adjusted Net Income As of June 30, 2026 DANAOS CORPORATION | NYSE: DAC 49 Source: Company filings. Reconciliation of Net Income / (Loss) to Adjusted Net Income USD thousands
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Three Months Ended Three Months Ended June 30, 2026 June 30, 2025 Reconciliation of Net Income to Adjusted Net Income Container Vessels Dry Bulk Vessels Other Total Container Vessels Dry Bulk Vessels Other Total Net Income $116,104 $12,176 $23,535 $151,815 $115,893 $266 $14,745 $130,904 Adjustments Amortization of finance costs and debt discount 800 - - 800 787 - - 787 Change in fair value of investments - - (20,897) (20,897) - - (14,734) (14,734) Loss on debt extinguishment 1,405 - - 1,405 - - - - Adjusted Net Income $118,309 $12,176 $2,638 $133,123 $116,680 $266 $011 $116,957 Diluted weighted average number of shares (thousands) 18,256 18,396 Adjusted Earnings per share, diluted $7.29 $6.36 Six Months Ended Six Months Ended June 30, 2026 June 30, 2025 Reconciliation of Net Income / (Loss) to Adjusted Net Income / (Loss) Container Vessels Dry Bulk Vessels Other Total Container Vessels Dry Bulk Vessels Other Total Net Income / (Loss) $229,357 $13,807 $49,072 $292,236 $234,938 $(6,276) $17,389 $246,051 Adjustments Amortization of finance costs and debt discount 1,765 - - 1,765 1,545 - - 1,545 Change in fair value of investments - - (44,357) (44,357) - - (17,217) (17,217) Loss on debt extinguishment 6,027 - - 6,027 - - - - Adjusted Net Income / (Loss) $237,149 $13,807 $4,715 $255,671 $236,483 $(6,276) $172 $230,379 Diluted weighted average number of shares (thousands) 18,245 18,588 Adjusted Earnings per share, diluted $14.01 $12.39 Adjusted Net Income / (Loss) per Segment As of June 30, 2026 DANAOS CORPORATION | NYSE: DAC 50 Source: Company filings. Reconciliation of Net Income / (Loss) to Adjusted Net Income per segment USD thousands
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Reconciliation of Net Income / (Loss) to EBITDA and Adjusted EBITDA 2026 2025 2026 2025 2026 2025 2025 2024 2023 2022 2021 2020 2019 2018 2017 Net Income / (Loss) $540,799 $459,474 $151,815 $130,904 $292,236 $246,051 $494,614 $505,073 $576,299 $559,210 $1,052,841 $153,550 $131,253 $(32,936) $83,905 Adjustments Depreciation 165,279 159,827 41,777 40,698 82,639 80,726 163,366 148,344 129,287 134,271 116,917 101,531 96,505 107,757 115,228 Amortization of deferred drydocking & special survey costs 44,371 39,222 10,485 11,515 22,782 22,485 44,074 29,161 18,663 12,170 10,181 11,032 8,733 9,237 6,748 Amortization of assumed time-charters - - - - - - - (4,534) (21,222) (56,699) (27,614) - - - - Amortization of deferred realized losses on cash flow interest rate swaps 3,622 3,622 903 903 1,796 1,796 3,622 3,632 3,622 3,622 3,622 3,632 3,622 3,694 3,694 Amortization of finance costs and debt discount 3,707 2,900 800 787 1,765 1,545 3,487 2,326 2,201 11,520 15,913 16,817 16,866 14,957 11,153 Finance costs accrued & Commitment fees 2,025 2,391 470 562 958 1,140 2,207 2,579 2,935 255 149 521 556 2,059 3,169 Interest Income (27,240) (14,297) (7,401) (3,661) (14,958) (7,266) (19,548) (12,890) (12,133) (4,591) (12,230) (6,638) (6,414) (5,781) (5,576) Interest Expense excluding amortization of finance costs 39,407 34,769 7,327 8,924 18,221 18,169 39,355 23,859 18,262 50,620 53,078 36,687 55,203 70,749 75,403 Dividends withholding taxes - - - - - - - - 18,250 5,890 - - - - EBITDA $771,970 $687,908 $206,176 $190,632 $405,439 $364,646 $731,177 $697,550 $717,914 $728,628 $1,218,747 $317,132 $306,324 $169,736 $293,724 Adjusted for: Stock based compensation and one-off discretionary cash bonus 15,240 8,503 143 143 284 285 15,241 8,218 6,340 5,972 15,278 1,199 4,241 1,006 - Impairment loss - - - - - - - - - - - - - 210,715 - Change in fair value of investments & dividend withholding taxes (56,681) 21,165 (20,897) (14,734) (44,357) (17,217) (29,541) 25,179 (17,867) 158,136 (549,543) - - - - One-off equity gain on investments - - - - - - - - - - (64,063) - - - - Loss / (Gain) on debt extinguishment 8,526 - 1,405 - 6,027 - 2,499 - 2,254 (4,351) (111,616) - - (116,365) - Re-financing professional fees - - - - - - - - - - - - - 51,313 14,297 Accelerated amortization of accumulated other comprehensive loss - - - - - - - - - - - - - 1,443 - Gain on disposal/sale of vessels - (1,238) - - - - - (8,332) (1,639) (37,225) - - - - - Adjusted EBITDA $739,055 $716,338 $186,827 $176,041 $367,393 $347,714 $719,376 $722,615 $707,002 $851,160 $508,803 $318,331 $310,565 $317,848 $308,021 in thousands of U.S. dollars Last Twelve Months Ended June 30, Three Months Ended June 30, Year Ended December 31, Six Months Ended June 30, Adjusted EBITDA As of June 30, 2026 DANAOS CORPORATION | NYSE: DAC 51 Source: Company filings. Reconciliation of Net Income / (Loss) to EBITDA and Adjusted EBITDA USD thousands
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Three Months Ended Three Months Ended June 30, 2026 June 30, 2025 Reconciliation of Net Income to Adjusted EBITDA Container Vessels Dry Bulk Vessels Other Total Container Vessels Dry Bulk Vessels Other Total Net Income $116,104 $12,176 $23,535 $151,815 $115,893 $266 $14,745 $130,904 Adjustments Depreciation 37,918 3,859 - 41,777 37,390 3,308 - 40,698 Amortization of deferred drydocking & special survey costs 7,766 2,719 - 10,485 9,201 2,314 - 11,515 Amortization of deferred realized losses on cash flow interest rate swaps 903 - - 903 903 - - 903 Amortization of finance costs and debt discount 800 - - 800 787 - - 787 Finance costs accrued & Commitment fees 470 - - 470 562 - - 562 Interest Income (7,357) - (44) (7,401) (3,630) - (31) (3,661) Interest Expense excluding amortization of finance costs 7,327 - - 7,327 8,924 - - 8,924 EBITDA $163,931 $18,754 $23,491 $206,176 $170,030 $5,888 $14,714 $190,632 Adjusted for: Stock based compensation 133 10 - 143 133 10 - 143 Change in fair value of investments - - (20,897) (20,897) - - (14,734) (14,734) Loss on debt extinguishment 1,405 - - 1,405 - - - - Adjusted EBITDA $165,469 $18,764 $2,594 $186,827 $170,163 $5,898 $(020) $176,041 Six Months Ended Six Months Ended June 30, 2026 June 30, 2025 Reconciliation of Net Income / (Loss) to Adjusted EBITDA Container Vessels Dry Bulk Vessels Other Total Container Vessels Dry Bulk Vessels Other Total Net Income / (Loss) $229,357 $13,807 $49,072 $292,236 $234,938 $(6,276) $17,389 $246,051 Adjustments Depreciation 75,419 7,220 - 82,639 74,154 6,572 - 80,726 Amortization of deferred drydocking & special survey costs 16,640 6,142 - 22,782 18,252 4,233 - 22,485 Amortization of deferred realized losses on cash flow interest rate swaps 1,796 - - 1,796 1,796 - - 1,796 Amortization of finance costs and debt discount 1,765 - - 1,765 1,545 - - 1,545 Finance costs accrued & Commitment fees 958 - - 958 1,140 - - 1,140 Interest Income (14,875) - (83) (14,958) (7,208) - (58) (7,266) Interest Expense excluding amortization of finance costs 18,221 - - 18,221 18,169 - - 18,169 EBITDA $329,281 $27,169 $48,989 $405,439 $342,786 $4,529 $17,331 $364,646 Adjusted for: Stock based compensation and one-off discretionary cash bonus 265 19 - 284 265 20 - 285 Change in fair value of investments - - (44,357) (44,357) - - (17,217) (17,217) Loss on debt extinguishment 6,027 - - 6,027 - - - - Adjusted EBITDA $335,573 $27,188 $4,632 $367,393 $343,051 $4,549 $114 $347,714 Adjusted EBITDA per segment As of June 30, 2026 DANAOS CORPORATION | NYSE: DAC 52 Source: Company filings. Reconciliation of Net Income / (Loss) to EBITDA and Adjusted EBITDA per segment USD thousands
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Reconciliation of Free Cash Flow 2026 2025 2026 2025 2026 2025 2025 2024 2023 2022 2021 2020 2019 Adjusted EBITDA $739,055 $716,338 $186,827 $176,041 $367,393 $347,714 $719,376 $722,615 $707,002 $851,160 $508,803 $318,331 $310,565 Net Interest Expense (12,167) (20,472) 74 (5,263) (3,263) (10,903) (19,807) (10,969) (6,129) (46,029) (40,122) (27,138) (45,414) Commitment fees (2,025) (2,391) (470) (562) (958) (1,140) (2,207) (2,579) (2,935) (255) - - - Loss/(Gain) on equity investments 1,285 1,988 534 333 811 565 1,039 1,629 3,993 - (3,965) (6,308) (1,602) Revenue recognition (non-cash) 27,755 10,944 7,376 3,992 15,467 4,834 17,122 4,725 5,089 1,084 (38,947) (5,501) (27,682) Early charterhire prepayment (28,930) (45,477) (6,201) (10,984) (12,333) (22,314) (38,911) (46,075) (68,545) 169,071 - - - Payments for dry-docking & special survey costs deferred (34,761) (63,755) (9,013) (12,016) (22,895) (27,805) (39,671) (50,568) (31,121) (29,939) (4,643) (16,916) (7,157) Other working capital 25,398 13,647 25,233 11,238 23,274 5,688 7,812 2,972 (31,062) (10,351) 6,985 3,211 (8,832) Net Cash provided by Operating Activities $715,610 $610,822 $204,360 $162,779 $367,496 $296,639 $644,753 $621,750 $576,292 $934,741 $428,111 $265,679 $219,878 Adjust for: Accumulated accrued interest - - - - - - - - - (3,373) (10,361) (25,639) (35,358) Adjusted Operating Cash Flow $715,610 $610,822 $204,360 $162,779 $367,496 $296,639 $644,753 $621,750 $576,292 $931,368 $417,750 $240,040 $184,520 Less: Net Debt Payments Payments of long-term debt (30,885) (32,440) (5,913) (9,415) (11,861) (18,220) (37,244) (27,970) (27,500) (84,400) (1,343,725) (146,747) (262,572) Payments of leaseback obligation - - - - - - - - (8,859) (59,331) (53,799) (153,904) (8,309) Proceeds from long-term debt to refinance existing obligations - - - - - - - - - - 1,105,311 - - Proceeds from sale-leaseback to refinance existing obligations - - - - - - - - - - 135,000 139,080 146,523 Net Debt Payments Total $(30,885) $(32,440) $(5,913) $(9,415) $(11,861) $(18,220) $(37,244) $(27,970) $(36,359) $(143,731) $(157,213) $(161,571) $(124,358) Free Cash Flow $684,725 $578,382 $198,447 $153,364 $355,635 $278,419 $607,509 $593,780 $539,933 $787,637 $260,537 $78,469 $60,162 Proceeds from long-term debt 1,234,675 225,000 307,000 - 658,000 44,000 620,675 362,000 - 182,726 - 69,850 - Early repayment of long-term debt & leaseback obligations (744,716) - (114,625) - (591,196) - (153,520) - (64,066) (902,743) - - - Vessels additions & advances for vessels additions (3,433) (17,002) (1,870) (2,131) (2,772) (4,148) (4,809) (25,698) (15,752) (8,399) (7,709) (33,094) (18,853) Vessel acquisitions & advances for vessel acquisitions (25,466) (21,596) - - (21,665) - (3,801) (81,674) (141,102) - (348,011) (137,567) (2,507) Vessels under contruction (490,048) (385,911) (175,768) (19,200) (304,841) (102,873) (288,080) (551,971) (111,181) (190,736) - - - Proceeds and advances from sale of vessels - 1,238 - - - 1,681 1,681 10,196 3,914 129,069 - - - Finance costs (27,517) (9,915) (6,170) (1,145) (11,114) (9,368) (25,771) (7,277) (1,892) (16,244) (22,409) (19,963) (30,474) Net proceeds from redemption of notes - - - - - - - - - - 75,646 - - Net proceeds from sale of equity securities - - - - - - - - - 246,638 120,704 - - Investments (71,909) (31,912) (58,575) (30,270) (71,492) (30,270) (30,687) (1,642) (74,407) - - (75) - Cash and restricted cash acquired - - - - - - - - - - 16,222 - - Dividends paid (64,857) (63,245) (16,378) (15,559) (32,756) (31,449) (63,550) (62,807) (60,696) (61,483) (30,887) - - Repurchase of common stock (29,350) (101,321) - (19,438) (6,823) (53,212) (75,739) (53,332) (70,610) (28,553) - (31,127) - Share issuance costs - - - - - - - - - - - - (873) Paid-in capital - - - - - - - - - - - - 54,440 Net Increase in Cash, cash equivalents and restricted cash $462,104 $173,718 $132,061 $65,621 $(29,024) $92,780 $583,908 $181,575 $4,141 $137,912 $64,093 $(73,507) $61,895 Last Twelve Months Ended June 30, Year Ended December 31, in thousands of U.S. dollars Three Months Ended June 30, Six Months Ended June 30, Free Cash Flow As of June 30, 2026 DANAOS CORPORATION | NYSE: DAC 53 Source: Company filings. Reconciliation of Free Cash Flow to Net Increase in Cash, cash equivalents and restricted cash USD thousands
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4245% -500% 0% 500% 1000% 1500% 2000% 2500% 3000% 3500% 4000% 4500% Stockholders' Return 1 Danaos Costamare GSL Stock Performance - Danaos vs. Peers Since July 1, 2020 DANAOS CORPORATION | NYSE: DAC 54 Source: NASDAQ (1) Stockholders’ return is a rate of return over the period from July 1, 2020 to July 31, 2026, including dividend received and reinvested at market price of each security on the date of payout.
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