Company Participants Georgios Youroukos - Executive Chairman Thomas Lister - Chief Commercial Officer & Head, ESG Liam Burke - B. Riley Securities Operator Global Ship Lease, Inc. (NYSE:GSL) Q1 2023 Earnings Conference Call May 10, 2023 10:30 AM ET Ian Webber - CEO Anastasios Psaropoulos - CFO & Treasurer Conference Call Participants Omar Nokta - Jefferies Christopher Robertson - Deutsche Bank Good day, and welcome to Global Ship Lease Q1 2023 Earnings Call. [Operator Instructions]. I'd now like to welcome ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

Newbuild Price Index 1 Yr TC Rate Index Second Hand Price Index Raised $60.0 million secured loan with ESUN, maturing 2026 and priced at LIBOR + 2.75%, against the three ships released from the syndicated loan 0.75% interest rate cap on LIBOR / SOFR Fundamentals Still Supportive for Our Segments, but Orderbook Growing EEXI - Energy Efficiency Existing Ship Index. Determined by ship's technical characteristics. Pass or fail. Compliance required by ship's first annual IAPP survey after January 1, 2023 15 Fina ...

PwC 1 Third Quarter 2022 Results Presentation Disclaimer This presentation does not constitute or form part of, and should not be construed as, an offer to sell or an invitation, solicitation, or inducement to purchase or subscribe for securities with respect to any transaction, nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This presentation does not constitute either advice or a recommendation regarding any securities. The finan ...

Financial Data and Key Metrics Changes - Revenue for the first half of 2022 was $308 million, up from $156 million in the prior-year period, representing a 97% increase [26] - Adjusted EBITDA for the first half was $190 million, up from $94 million in the first half of 2021, more than doubling [26] - Normalized income increased from $41.5 million in the first half of 2021 to $137 million in the first half of 2022, a 230% increase [26] Business Line Data and Key Metrics Changes - The company has secured over $1.9 billion of contract cover with an average remaining duration of 2.6 years, indicating strong contract coverage [16][44] - The company has continued to agree to additional charters and extensions in 2022, adding $435 million of contract cover year-to-date [10] Market Data and Key Metrics Changes - Idle capacity in the global fleet remains below 1%, indicating full employment of the fleet [35] - The order book to fleet ratio for midsize and smaller container ships is significantly lower at just over 15%, compared to 52.3% for larger ships [37] Company Strategy and Development Direction - The company is focused on decarbonization by retrofitting existing ships with proven technologies to improve energy efficiency and reduce emissions [11] - The company maintains a conservative and risk-averse approach, extending forward contract cover and building cash liquidity to manage risks and capitalize on opportunities [12][24] - The company is looking at capital allocation opportunities, including returning capital to shareholders through dividends and share buybacks [21][22] Management's Comments on Operating Environment and Future Outlook - The management acknowledges significant uncertainty in the macro environment, including inflation and geopolitical tensions, but emphasizes the strength of the company's business model [7][12] - The management believes that the global fleet is effectively fully employed and that charter markets remain close to cyclical highs, with liners forecasting another year of exceptional earnings in 2022 [46][44] Other Important Information - The company has reduced its average cost of debt from 4.6% at the beginning of the year to under 3.1% [31] - The company has implemented interest rate caps at 0.75% LIBOR for all floating rate debt, providing further financial stability [29] Q&A Session Summary Question: Can you qualify the "wait and see" mode of charters? - Management explained that charters are cautious due to economic uncertainties and are assessing how new regulations will impact fleet operations, leading to a "wait and see" approach [52][56] Question: What does the asset acquisition market look like now? - Management indicated that while they are evaluating sale and leaseback deals, they have not found attractive opportunities for direct ship purchases due to high prices [72][73] Question: How will environmentally related CapEx be managed? - Management stated that investments in decarbonization will be expected to translate into increased EBITDA and enhance asset value, similar to past investments in scrubbers [82] Question: What is the company's stance on share buybacks? - Management confirmed that while they have the authorization for share buybacks, they are currently focused on building cash liquidity and will consider opportunities as they arise [86][87] Question: How does the company view counterparty risk? - Management expressed confidence in the strength of their fixed-rate non-cancelable time charter contracts and the financial health of their counterparties, deeming counterparty default unlikely [92][93]

Global Ship Lease, Inc. (NYSE:GSL) Q1 2022 Results Conference Call May 9, 2022 10:30 AM ET Company Participants | --- | |--------------------------------------------------------| | | | Ian Webber - CEO George Youroukos - Executive Chairman | | Tassos Psaropoulos - CFO | | Tom Lister - Chief Commercial Officer | | Conference Call Participants | | Chris Robertson - Jefferies | | Liam Burke - B. Riley | | J. Mintzmyer - Value Investor's Edge | | Frode Morkedal - Clarksons Securities | Operator Good day and tha ...

Financial Data and Key Metrics Changes - Revenue for 2021 was $448 million, up from $282.8 million in 2020, representing a significant increase [50] - Adjusted EBITDA for 2021 was $252.2 million, compared to $163.2 million in 2020, indicating strong operational performance [50] - Normalized income increased from $49.6 million in 2020 to $170.7 million in 2021, reflecting improved profitability [50] - EBITDA for Q4 2021 was $85.4 million, more than double the $38.7 million reported for Q4 2020 [13][35] Business Line Data and Key Metrics Changes - The company acquired 23 ships, increasing the fleet size by over 50%, which contributed to the revenue growth [12][33] - Secured 51 new charters, adding over $1.5 billion in contract revenue spread over several years [14] - The adjusted EBITDA backlog increased by $1.2 billion, bringing total contract cover to $1.8 billion over the next 2.6 years [35] Market Data and Key Metrics Changes - Demand for container shipping services grew by 7.1% in 2021, outpacing the 1.4% capacity growth [10] - The forecast for 2022 indicates a demand growth of 4.2%, again exceeding the expected capacity growth of 1.7% [11] - Idle capacity at year-end was 0.6%, indicating nearly full employment in the market [60] Company Strategy and Development Direction - The company focuses on enhancing fuel efficiency and compliance with upcoming decarbonization regulations [25][47] - A disciplined approach to capital allocation is emphasized, with a focus on returning capital to shareholders through dividends and share repurchases [40][45] - The company intends to maintain a strict discipline in fleet renewal through selective acquisitions that generate accretive growth [27][96] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty in the macro environment due to geopolitical tensions and inflation, but remains optimistic about the strong fundamentals in the container shipping market [24] - The company expects to see continued high demand for container shipping services, supported by limited vessel supply and inventory restocking [23][74] - Management highlighted the importance of adapting to decarbonization requirements and enhancing fleet efficiency to remain competitive [47][90] Other Important Information - The company refinanced over $400 million of debt, significantly reducing the cost of debt from 7.7% in 2018 to 4.7% currently [51][54] - A quarterly dividend increase to $0.375 per share was announced, more than tripling the original amount contemplated [16][42] - The company returned approximately $46.2 million to shareholders in 2021, with $36.2 million through dividends and $10 million in stock buybacks [18] Q&A Session Summary Question: About the dividend increase and future expectations - Management reviewed capital allocation regularly and determined that the increased dividend of $0.375 was sustainable based on improved cash flow and forward cover [79][81] Question: Forward fixing of vessels coming off charter - Management is actively working on forward fixtures and prioritizing this as a top priority [83] Question: Amortization of charter adjustments - The amortization effects will reduce over time as legacy charters expire, with a straight-line depreciation expected [85] Question: Regarding the acquisition of older vessels - Management indicated that while older vessels may not be easily chartered, unique characteristics of their fleet could allow for extended use [87][89] Question: Potential acquisitions in the current market - Management is cautious about acquisitions, focusing on opportunities that meet stringent criteria and provide certainty of income [96][98]

PwC 1 Third Quarter 2021 Results Presentation Disclaimer This presentation does not constitute or form part of, and should not be construed as, an offer to sell or an invitation, solicitation, or inducement to purchase or subscribe for securities with respect to any transaction, nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This presentation does not constitute either advice or a recommendation regarding any securities. The finan ...

Global Ship Lease, Inc. (NYSE:GSL) Q3 2021 Earnings Conference Call November 10, 2021 11:00 AM ET Company Participants Ian Webber – Chief Executive Officer George Youroukos – Executive Chairman Tassos Psaropoulos – Chief Financial Officer Tom Lister – Chief Commercial Officer Conference Call Participants Kevin Uherek – Deutsche Bank Randy Giveans – Jefferies Frode Morkedal – Clarksons Securities Liam Burke – B. Riley Brett Hendrickson – Nokomis Operator Good day and thank you for standing by. Welcome to the ...

PwC 1 Second Quarter 2021 Results Presentation Disclaimer This presentation does not constitute or form part of, and should not be construed as, an offer to sell or an invitation, solicitation, or inducement to purchase or subscribe for securities with respect to any transaction, nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This presentation does not constitute either advice or a recommendation regarding any securities. The fina ...