Forward Looking Statements May 7, 2025 DISCLAIMER This presentation contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events, in particular regarding dividends (including our dividend plans, timing and the amount and growth of any dividends), daily charter rates, vessel utilization, the future number of newbuilding deliveries, oil pric ...

Group 1: Earnings Performance - DHT Holdings reported quarterly earnings of $0.27 per share, exceeding the Zacks Consensus Estimate of $0.15 per share, but down from $0.29 per share a year ago, representing an earnings surprise of 80% [1] - The company posted revenues of $79.75 million for the quarter, surpassing the Zacks Consensus Estimate by 2.29%, but down from $106.34 million year-over-year [2] - Over the last four quarters, DHT Holdings has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - DHT Holdings shares have increased approximately 21% since the beginning of the year, contrasting with the S&P 500's decline of -3.9% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.17 on revenues of $72.63 million, and for the current fiscal year, it is $0.84 on revenues of $359.27 million [7] Group 3: Industry Context - The Transportation - Shipping industry, to which DHT Holdings belongs, is currently ranked in the bottom 10% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact DHT Holdings' stock performance [5][6]

Core Viewpoint - DHT Holdings, Inc. announced its financial results for the first quarter of 2025, highlighting its operational performance and strategic focus in the crude oil tanker industry [1]. Company Overview - DHT is an independent crude oil tanker company with a fleet that operates internationally, specifically in the VLCC segment [2]. - The company emphasizes its experienced management, quality operations, and customer service, alongside a prudent capital structure that supports resilience through business cycles [2]. - DHT employs a disciplined capital allocation strategy, which includes cash dividends, vessel investments, debt prepayments, and share buybacks [2]. - The company maintains a transparent corporate structure with a strong commitment to integrity and corporate governance [2]. Financial Reporting - The financial report for Q1 2025 is available for review, providing detailed insights into the company's performance during this period [1][5].

Company Overview - DHT Holdings (DHT) is expected to report a year-over-year decline in earnings due to lower revenues for the quarter ended March 2025, with a consensus EPS estimate of $0.15, reflecting a -48.3% change [3][12] - Revenues are anticipated to be $77.96 million, down 26.7% from the same quarter last year [3] Earnings Expectations - The earnings report is scheduled for release on May 6, 2025, and could influence the stock price depending on whether the actual results exceed or fall short of expectations [2] - The consensus EPS estimate has been revised 12.82% lower in the last 30 days, indicating a reassessment by analysts [4] Earnings Surprise Prediction - The Zacks Earnings ESP (Expected Surprise Prediction) model indicates a positive Earnings ESP of +10.35% for DHT Holdings, suggesting recent bullish sentiment among analysts [10][11] - However, the stock currently holds a Zacks Rank of 4 (Sell), complicating predictions of an earnings beat [11] Historical Performance - In the last reported quarter, DHT Holdings had an earnings surprise of +88.89%, posting earnings of $0.34 per share against an expectation of $0.18 [12] - Over the past four quarters, the company has beaten consensus EPS estimates two times [13] Industry Context - In the Zacks Transportation - Shipping industry, Scorpio Tankers (STNG) is expected to report earnings of $0.85 per share for the same quarter, reflecting a year-over-year decline of -78.6% [17] - Scorpio Tankers' revenue is projected to be $197.19 million, down 49.4% from the previous year [17] - The consensus EPS estimate for Scorpio Tankers has been revised 11.6% lower, resulting in a negative Earnings ESP of -28.37% [18]

Core Viewpoint - DHT Holdings, Inc. will release its first quarter 2025 results on May 6, 2025, followed by a conference call on May 7, 2025, to discuss the results [1] Group 1: Upcoming Financial Results - The company will announce its Q1 2025 results after market close on May 6, 2025 [1] - A conference call and webcast will take place on May 7, 2025, at 8:00 a.m. EDT/14:00 CEST to discuss the quarterly results [1] - Participants must register in advance to access the conference call, receiving dial-in numbers and a unique personal PIN upon registration [1] Group 2: Webcast and Recording - The webcast will include a slide presentation and can be accessed via a specific link [2] - A recording of the audio and slides will be available until May 14, 2025, at 14:00 CEST [2] Group 3: Company Overview - DHT Holdings, Inc. is an independent crude oil tanker company operating internationally with a fleet in the VLCC segment [2] - The company emphasizes a strong operational focus, quality ships, and a prudent capital structure to navigate business cycles [2] - DHT employs a disciplined capital allocation strategy, including cash dividends, vessel investments, debt prepayments, and share buybacks [2]

Core Insights - DHT Holdings has a strong track record of exceeding earnings estimates, particularly in the last two quarters, with an average surprise of 46.83% [1] - In the most recent quarter, DHT reported earnings of $0.34 per share, surpassing the expected $0.18 per share by 88.89% [2] - The previous quarter also saw a positive surprise, with actual earnings of $0.22 per share against an estimate of $0.21 per share, resulting in a 4.76% surprise [2] Earnings Estimates and Predictions - Recent estimates for DHT Holdings have been revised upward, indicating growing analyst confidence in the company's earnings potential [5] - The Zacks Earnings ESP for DHT is currently +10.35%, suggesting a favorable outlook for upcoming earnings [8] - Stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of beating consensus estimates [6] Earnings ESP and Market Behavior - The Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [7] - A positive Earnings ESP combined with a Zacks Rank of 3 indicates a strong possibility of another earnings beat for DHT [8] - It is crucial for investors to check a company's Earnings ESP prior to quarterly releases to enhance the likelihood of successful investment decisions [9]

Core Viewpoint - DHT Holdings, Inc. has announced the sale of two vessels, DHT Lotus and DHT Peony, for a total of $103 million, which aligns with the company's strategy to optimize its fleet profile and respond to market trends [1][2]. Financial Summary - The sale price for the two vessels is $103 million, with expected net cash proceeds of approximately $85 million after repaying existing debt of $15.9 million [1]. - The company anticipates recording gains of $17.5 million in the second quarter and $15.5 million in the third quarter from this transaction [1]. Company Background - DHT Holdings, Inc. operates as an independent crude oil tanker company with a fleet focused on the VLCC segment, trading internationally [2]. - The company emphasizes a prudent capital structure, disciplined capital allocation strategy, and high standards of corporate governance [2].

Group 1: PennantPark Floating Rate Capital (PFLT) - The company is a closed-end, externally managed, and non-diversified investment firm focused on generating current income and capital appreciation through investments in floating rate loans primarily to U.S. middle-market companies [1] - The Zacks Consensus Estimate for its current year earnings has increased by 4.7% over the last 60 days [1] - The company has a dividend yield of 13.1%, significantly higher than the industry average of 3.4% [2] Group 2: Swedbank (SWDBY) - Swedbank is a leading Nordic-Baltic banking group serving retail and corporate customers in Sweden, Estonia, Lithuania, and Latvia [2] - The Zacks Consensus Estimate for its current year earnings has increased nearly 4.8% over the last 60 days [2] - The company has a dividend yield of 6.9%, compared to the industry average of 4.1% [2] Group 3: DHT (DHT) - DHT operates a fleet of double-hull crude oil tankers on international routes [3] - The Zacks Consensus Estimate for its current year earnings has increased nearly 1.1% over the last 60 days [3] - The company has a dividend yield of 6.7%, which is higher than the industry average of 3.3% [3]

Financial Performance - In Q4 2024, DHT Holdings reported shipping revenues of $130.8 million, a decrease from $142.3 million in Q4 2023, primarily due to lower time charter rates[14]. - Adjusted EBITDA for Q4 2024 was $60.6 million, with a net profit of $54.7 million, translating to earnings of $0.34 per basic share, compared to $35.3 million or $0.22 per share in Q4 2023[20]. - Total shipping revenues for 2024 were $567.8 million, an increase from $556.1 million in 2023, driven by increased total revenue days[27]. - The company reported a net profit of $181.5 million for 2024, or $1.12 per basic and diluted share, compared to a net profit of $161.4 million, or $0.99 per share in 2023, reflecting a 12.4% increase in net profit[34]. - Total revenues for the 12 months of 2024 increased to $571.773 million, up 2.2% from $560.556 million in 2023[51]. - Basic earnings per share for 2024 were $1.12, an increase from $0.99 in 2023[51]. - Total comprehensive income for the 12 months of 2024 was $181.336 million, compared to $161.017 million in 2023[53]. Cash Flow and Dividends - Net cash provided by operating activities for 2024 was $298.7 million, up 18.8% from $251.4 million in 2023, driven by a $51.2 million change in operating assets and liabilities[35]. - Cash dividends paid in 2024 totaled $161.396 million, down from $186.672 million in 2023[55]. - The company declared a cash dividend of $0.17 per share for Q4 2024, marking the 60th consecutive quarterly cash dividend, payable on February 25, 2025[4]. - Total dividend payments made during 2024 amounted to $161.4 million, with a per common share payment of $1.00[99]. Operational Metrics - The company achieved average combined time charter equivalent earnings of $38,800 per day in Q4 2024, with VLCCs in the spot market earning $38,200 per day[4]. - For Q1 2025, DHT estimates an average term time charter rate of $41,700 per day and has booked 74% of available VLCC spot days at an average rate of $36,400 per day[10]. - Time charter revenues increased to $24.1 million in Q4 2024 from $16.7 million in Q4 2023, representing a growth of 44.4%[68]. - As of December 31, 2024, the company had 24 vessels in operation, with 7 on time charters and 17 operating in the spot market[69]. Expenses and Investments - Voyage expenses for 2024 were $179.6 million, an increase of 8.5% from $165.7 million in 2023, primarily due to a $17.3 million rise in bunker expenses[29]. - Vessel operating expenses for 2024 were $78.6 million, up 3.9% from $75.4 million in 2023, attributed to an additional vessel in the fleet[30]. - Depreciation and amortization for 2024 was $111.9 million, a 2.8% increase from $108.9 million in 2023, mainly due to higher depreciation of vessels[31]. - The company invested $90.196 million in vessels under construction during 2024[55]. Asset and Equity Position - The company had a total asset value of $1.486 billion as of December 31, 2024, a slight decrease from $1.492 billion in 2023[49]. - Total equity attributable to the company increased to $1.038 billion in 2024 from $1.027 billion in 2023, reflecting a positive trend in equity growth[49]. - Interest-bearing debt totaled $409.4 million as of December 31, 2024[75]. Share Repurchase and Market Activity - The company purchased 1,481,383 of its own shares in Q4 2024, representing 0.9% of outstanding shares, at an average price of $8.89[4]. - The Company purchased 1,481,383 shares in Q4 2024 for an aggregate consideration of $13.2 million, at an average price of $8.89[97]. Future Expectations and Contracts - A one-year time charter contract for DHT China was entered into in January 2025, with a rate of $40,000 per day[106]. - The Company expects to book a gain of about $19.8 million in Q1 2025 related to the sale of DHT Scandinavia, which was sold for $43.4 million[94]. - Future expected payments related to vessels under construction total $429.7 million as of December 31, 2024[93].

Core Viewpoint - DHT Holdings, Inc. has filed its 2024 annual report on Form 20-F with the SEC, providing insights into its operations and financial performance [1]. Company Overview - DHT is an independent crude oil tanker company with a fleet that operates internationally, specifically in the VLCC segment [2]. - The company has integrated management companies located in Monaco, Norway, Singapore, and India [2]. - DHT emphasizes a business approach focused on high-quality operations, customer service, and a prudent capital structure that enhances resilience through business cycles [2]. - The company employs a disciplined capital allocation strategy, which includes cash dividends, vessel investments, debt prepayments, and share buybacks [2]. - DHT maintains a transparent corporate structure with a strong commitment to integrity and corporate governance [2]. Financial Reporting - The audited financial statements for 2024 are available on DHT's website, and shareholders can request a hard copy free of charge [1].