
Strategic Fleet Repositioning into Capesize Vessels Declares Quarterly Cash Dividend of $0.10 Per Share Highlights (in million USD, except EPS, LPS and TCE) Q2 2026 Q2 2025 6M 2026 6M 2025 6M 2026 vs 6M 2025 Net Revenues $ 10.0 $ 12.5 $ 17.9 $ 20.2 Net income / (loss) $ 1.2 $ 1.0 $ 1.0 $ (3.5 ) Adjusted net income / (loss)1 $ 1.5 $ 0.2 $ 1.7 $ (4.2 ) EBITDA1 $ 4.9 $ 5.9 $ 7.7 $ 6.6 +17 % Adjusted EBITDA1 $ 5.2 $ 5.1 $ 8.4 $ 6.0 +42 % TCE2 $ 18,654 $ 15,421 $ 17,202 $ 12,744 +35 % Earnings / (loss) per share Basic and Diluted $ 0.11 $ 0.11 $ 0.10 $ (0.40 ) Adjusted earnings / (loss) per share Basic1and Diluted1 $ 0.15 $ 0.02 $ 0.18 $ (0.48 ) _______________ 1 Adjusted earnings / (loss) per share, Adjusted Net Income / (loss), EBITDA and Adjusted EBITDA are non-GAAP measures. Please see the reconciliation below of Adjusted earnings / (loss) per share, Adjusted Net Income / (loss), EBITDA and Adjusted EBITDA to net income, the most directly comparable U.S. GAAP measure.





