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Investor Presentation Q 3 2025 FINANCIAL RESULTS November 20 , 2025
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Disclaimer 2 our expectation of modifications with respect to our and other shipping companies ’ operating fleet and lines, including the utilization of larger vessels within certain trade zones and modifications made in light of environmental regulations ; the expected benefits of our cooperation agreements and strategic partnerships ; formation of new alliances among global carriers, changes in and disintegration of existing alliances and collaborations, including alliances and collaborations to which we are not a party to ; our anticipated insurance costs ; our expectations regarding the availability of crew ; our expectations regarding our environmental and regulatory conditions, including extreme weather events, changes in laws and regulations or actions taken by regulatory authorities, and the expected effect of such regulations ; our expectations regarding potential liability from current or future litigation ; our plans regarding hedging activities ; our ability to pay dividends in accordance with our dividend policy ; our expectations regarding our competition and ability to compete effectively ; and other risks and uncertainties detailed from time to time in the Company ’ s filings with the U . S . Securities and Exchange Commission (SEC), including under the caption “ Risk Factors ” in its 2024 Annual Report filed with the SEC on March 12 , 2025 . The Company prepares its financial statements in accordance with IFRS Accounting Standards (IFRSs), as issued by the International Accounting Standards Board (IASB) . See further disclosure regarding "Use of Non - IFRS Financial Measures ” below . Use of Non - IFRS Measures in the Company ’ s Guidance A reconciliation of the Company ’ s non - IFRS financial measures included in its full - year 2025 guidance to corresponding IFRS measures is not available on a forward - looking basis . In particular, the Company has not reconciled its Adjusted EBITDA and Adjusted EBIT because the various reconciling items between such non - IFRS financial measures and the corresponding IFRS measures cannot be determined without unreasonable effort due to the uncertainty regarding, and the potential variability of, the future costs and expenses for which the Company adjusts, the effect of which may be significant, and all of which are difficult to predict and are subject to frequent change . Forward - Looking Statements The following information contains, or may be deemed to contain forward - looking statements (as defined in the U . S . Private Securities Litigation Reform Act of 1995 ) . In some cases, you can identify these statements by forward - looking words such as “ may, ” “ might, ” “ will, ” “ should, ” “ expect, ” “ plan, ” “ anticipate, ” “ believe, ” “ estimate, ” “ predict, ” “ potential ” or “ continue, ” the negative of these terms and other comparable terminology . These forward - looking statements, which are subject to risks, uncertainties and assumptions about the Company, may include projections of the Company ’ s future financial results, its anticipated growth strategies and anticipated trends in its business . These statements are only predictions based on the Company ’ s current expectations and projections about future events or results . There are important factors that could cause the Company ’ s actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward - looking statements . Factors that could cause such differences include, but are not limited to : our expectations regarding general market conditions as a result of the current geopolitical instability, developments and further escalation of events, including, but not limited to, the political and military instability in the Middle East and the war between Russia and Ukraine ; our expectations regarding general market conditions as a result of global economic trends, including potential rising inflation and interest rates, imposition and/or increase or decrease in tariffs or other charges imposed on import, export or trade as a result of geopolitical and other events ; our expectations regarding trends related to the global container shipping industry, including with respect to fluctuations in vessel and container supply, industry consolidation, demand for containerized shipping services, bunker and alternative fuel prices and supply, charter and freights rates, container values and other factors affecting supply and demand ; our plans regarding our business strategy, areas of possible expansion and expected capital spending or operating expenses ; our ability to adequately respond to political, economic and military instability in Israel, the Middle East and elsewhere (particularly as a result of the Israel - Hamas war and the Israel - Hezbollah and Israel - Iran armed conflicts), and our ability to maintain business continuity as an Israeli - incorporated company in times of emergency ; our ability to effectively handle cyber - security threats and recover from cyber - security incidents, including in connection with the war between Israel and Iran and Iranian - backed proxies ; our anticipated ability to obtain additional financing in the future to fund expenditures ; Investor Presentation
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Q 3 2025 : Strategic Focus Delivers Solid Financial Results 3 Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation Heightened market volatility Step up in frequency and intensity of market changes Geopolitical tensions, trade disruptions, tariffs Amplifying challenges and requiring increased agility Optimizing cost base Maintaining service reliability Delivering solid financial results Prioritizing capital return to shareholders Continued strategic execution
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Q 3 2025 Financial Highlights 4 Note: Figures in parentheses reflect year - over - year comparison Cash Flow from Operations $ 628 Mn ( - 58 %) Total Liquidity $ 3.01 Bn Revenue $ 1.78 Bn ( - 36 %) Adj EBITDA $ 593 Mn ( - 61%) 33 % Margin Adj EBIT $ 260 Mn ( - 79 %) Total Equity ( 30.09.2025 ) $ 4.02 Bn Net Income $ 123 Mn ( - 89 %) ( 30.09.2025 ) 15% Margin Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation
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FY 2025 Guidance Updated; Quarterly Dividend Declared 5 Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation Q3 2025 Dividend FY 2025 Guidance* $ 0.31 /Share ~$ 37 Mn (~ 30 % of Q 3.25 net income) Adjusted EBITDA $ 2.0 Bn to $ 2.2 Bn Adjusted EBIT $ 700 Mn to $ 900 Mn FY 2025 Guidance * Previous guidance (Aug. 2025 ): Adjusted EBITDA of $ 1.8 billion to 2.2 billion and Adjusted EBIT of $ 550 million to $ 950 million
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Operational & Commercial Excellence: Building a Resilient ZIM 6 Q3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation * In TEU capacity Commercial Strategy Adapt network to optimize utilization Account for evolving cargo flow patterns Expand and diversify network Broaden customer base; reduce dependency on any single trade Leverage emerging trade opportunities Grow share in target markets Expand presence in Southeast Asia and Latin America Capitalize on transformed fleet to capture new commercial opportunities Operational Strategy Modern, fuel efficient & cost competitive fleet ~ 60 % newbuild; ~ 40 % LNG* Versatile capacity Larger vessels, well suited for target trades Fleet strategy Ensure access to desirable capacity; expand LNG capacity Maintain and enhance long - term competitiveness Maintain flexibility to downsize
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Key Operational and Financial Indicators 7 Note: Operational and cash flow metrics – figures in parentheses reflect year - over - year comparison Balance sheet metrics – figure in parentheses reflect comparison to year - end 2024 Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation Q 3 - 25 9 M - 25 Operational Carried volume (K TEUs) 926 ( - 5 %) 2,765 ( - 0.1 %) Revenue ($ Mn) Freight rate ($/TEU) 1,602 ( - 35 %) 1,622 ( - 14 %) 1,777 ( - 36 %) 5,419 ( - 13 %) Cash Flow Free cash flow ($ Mn) 574 ( - 880 ) 1,787 ( - 683 ) Cash conversion rate 97 % (+ 2 %) 97 % (+ 6 %) Q 3 - 25 9 M - 25 30 - 9 - 2025 Balance Sheet Total debt ($ Mn) Cash, bank deposit and investment instruments ($ Mn) Net debt ($ Mn) Net leverage ratio 5,647 ( - 369 ) 3,005 ( - 135 ) 2,642 ( - 234 ) 0.9 x
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* Current operated capacity: out of 115 containerships, 99 are chartered vessels and 16 are owned by ZIM; all car carriers are chartered ZIM Fleet Profile 8 Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary 115 containerships 14 car carriers Vessels Re deliveries YTD 2025 2025 2026 22 chartered vessels 3 additional vessels up for renewal ( 5.6 K TEU) 17 vessels up for renewal ( 55 TEU) Investor Presentation 709 K TEU 129 * Optionality to Adjust Fleet Size ~ 60 % newbuild ~ 40 % LNG - powered
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9 Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation Revenue ($Mn) Adjusted EBITDA ($Mn) - 36 % XX% - margin 6,260 5,419 1,531 Adjusted EBIT ($Mn) Net Income ($Mn) 1,236 1,891 45 % 872 16 % 30 % 1,126 123 1,591 9 % 260 9 M. 24 9 M. 25 Q 3 .2 4 Q 3. 2 5 - 13 % 443 9 M. 24 9 M. 25 Q 3 .2 4 Q 3. 2 5 9 M. 24 9 M. 25 Q 3 .2 4 Q 3. 2 5 9 M. 24 9 M. 25 Q 3 .2 4 Q 3. 2 5 2,765 1,777 - 32 % - 79 % - 54 % - 89 % - 72 % 33 % 55 % 34 % - 61 % 2,725 1,844 593 44 % 15 % Q 3 & 9 M 2025 Financial Highlights
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1,192 1,152 245 232 416 383 543 587 372 411 421 414 92 71 140 113 187 195 130 133 Volume Breakdown By Geographic Trade Zone (K TEU) 10 926 970 2,768 Latin America Intra - Asia Atlantic Cross - Suez Pacific 4.5 % 2,765 Financial highlights 2025 guidance Market update Summary Investor Presentation Q 3 2025 highlights Q 3.2025 Q 3.2024 9 M. 2024 9 M. 2025 - 0.1 %
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Q 3 2025 Cash Flow Bridge ($Mn) 11 Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation 628 - 54 - 7 19 135 - 451 Cash Flow from Operations CAPEX, net Debt Service Net change in Cash Position Others Dividends Free Cash Flow 574
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9 M 2025 Cash Flow Bridge ($Mn) 12 Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation 1,924 - 137 1,787 - 1,502 58 - 135 - 478 * Debt service during the period includes $ 72 million reflecting repayment of lease liabilities related to two acquired second - hand 8,500 TEU vessels, as well as the downpayment for the last remaining LNG vessel received in January 2025 Cash Flow from Operations CAPEX, net Free Cash Flow Debt Service * Net change in Cash Position Others Dividends
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2025 Guidance Revised: Increasing Guidance Midpoints 13 Investor Presentation Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary $ 2.0 Bn to $ 2.2 Bn Adjusted EBITDA $ 700 Mn to $ 900 Mn Adjusted EBIT * Previous guidance (Aug 2025 ): Adjusted EBITDA of $ 1.8 billion to 2.2 billion and Adjusted EBIT of $ 550 million to $ 950 million Assumptions Freight rates Operated capacity Volume Bunker costs unchanged; weaker Q 4 unchanged unchanged unchanged significantly lower continue operating constant capacity single digit volume growth similar to 2024 Original FY 2025 outlook (vs. 2024 ) Updated FY 2025 outlook unchanged unchanged flat YoY lower YoY FY 2025 outlook (Aug)
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14 Risk of Oversupply Remains; Potential Mitigating Factors Exist Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation Cellular Containerships Deliveries by TEU Source: Alphaliner Monthly Monitor, October 2025 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 . 2029 2030 TEU Total 3.5 M 3.0 M 2.5 M 2.0 M 1.5 M 1.0 M 0.5 M 0.0 M Delivered On Order Average of TEU 5,000 10,000 15,000 20,000 25,000 Average of TEU 31 % Orderbook - to - Fleet Ratio Mitigating Factors Negligible scrapping in recent years and industry ’ s decarbonization agenda may accelerate scrapping in the coming years
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15 Solid Global Demand Growth in 2025 ; Sustainability of Growth - Uncertain Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation 0.7M 0.9M 1.1M 1.3M 1.5M 1.7M 1.9M 2.1M 2.3M Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 2024 2025 10.0M 11.0M 12.0M 13.0M 14.0M 15.0M 16.0M 17.0M 18.0M Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Global volumes, TEU per month 2019 2020 2021 2022 2023 2024 2025 U.S. Volumes Impacted by Trade War; Recovery Post Trade Agreement - Unknown Asia to USA, TEU per month Source: CTS Source: Piers
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16 Q&A Session 16 Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation
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Strategic Focus: Maintain and Enhance Business Resilience 17 Q 3 2025 highlights Financial highlights 2025 guidance Market update Summary Investor Presentation Maintain long - term competitiveness of modern, cost - effective fleet Capital allocation priorities Expand and diversify network; diversify customer base; capture market growth Build long term sustainable value for shareholders Support ZIM ’ s long term growth Prudent investment in fleet, equipment and technology Return capital to shareholders
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18 Appendix Investor Presentation
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Use of Non - IFRS Financial Measures 19 The Company presents non - IFRS measures as additional performance measures as the Company believes that it enables the comparison of operating performance between periods on a consistent basis . These measures should not be considered in isolation, or as a substitute for operating income, any other performance measures, or cash flow data, which were prepared in accordance with Generally Accepted Accounting Principles as measures of profitability or liquidity . Please note that Adjusted EBITDA does not take into account debt service requirements, or other commitments, including capital expenditures, and therefore, does not necessarily indicate the amounts that may be available for the Company ’ s use . In addition, Non - IFRS financial measures, as those presented by the Company, may not be comparable to similarly titled measures reported by other companies, due to differences in the way these measures are calculated . Adjusted EBITDA : net income (loss) adjusted to exclude financial expenses (income), net, income taxes, depreciation and amortization in order to reach EBITDA, and further adjusted, as applicable, to exclude impairment of assets, non - cash charter hire expenses, capital gains (losses) beyond the ordinary course of business and expenses related to legal contingencies . Adjusted EBIT : net income (loss) adjusted to exclude financial expenses (income), net and income taxes, in order to reach our results from operating activities, or EBIT, and further adjusted, as applicable, to exclude impairment of assets, non - cash charter hire expenses, capital gains (losses) beyond the ordinary course of business and expenses related to legal contingencies . Free cash flow : net cash generated from operating activities minus capital expenditures, net . Total cash position : includes cash and cash equivalents and investments in bank deposits and other investment instruments . Net debt : face value of short - and long - term debt, minus cash and cash equivalents, bank deposits and other investment instruments . Net cash : cash and cash equivalents, bank deposits and other investment instruments exceeding the face value of short - and long - term debt . Net leverage ratio : net debt (defined above) divided by Adjusted EBITDA of the last twelve - month period . Investor Presentation
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Reconciliation of Net Income to Adjusted EBIT and Adjusted EBITDA 20 Investor Presentation * The tables may contain slight summation differences due to rounding ($ in Mn) Q3’25 Q3’24 Q3’23 RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBIT* Net income (loss) 123 1,126 (2,270) Financial expenses, net 87 102 66 Income taxes 49 7 (71) Operating income (loss) (EBIT) 259 1,235 (2,276) Impairment of assets 0 0 2,063 Capital loss (gain), beyond the ordinary course of business (1) (2) 0 Expenses related to legal contingencies 2 3 0 Adjusted EBIT 260 1,236 (213) RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA* Net income (loss) 123 1,126 (2,270) Financial expenses, net 87 102 66 Income taxes 49 7 (71) Depreciation and amortization 333 295 424 EBITDA 592 1,530 (1,852) Impairment of assets 0 0 2,063 Capital loss (gain), beyond the ordinary course of business (1) (2) 0 Expenses related to legal contingencies 2 3 0 Adjusted EBITDA 593 1,531 211
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Thank you