Core Viewpoint - BW LPG Limited, the owner and operator of the world's largest fleet of Very Large Gas Carriers (VLGCs), will publish its Q4 2025 Financial Report on March 3, 2026 [1] Financial Reporting - The financial report will be released at approximately 07:00 CET / 01:00 EST / 14:00 SGT [1] - An Earnings Presentation will be hosted by CEO Kristian Sørensen and Samanth in connection with the financial results [1]

Group 1 - BW LPG Limited has secured three-year time charter-out contracts for two Very Large Gas Carriers (VLGCs), BW Tucana and BW Yushi, which commenced in January 2026 [1] - The fixed-rate time charter-out coverage has increased to approximately 35% of the fleet capacity, with an average rate of about USD 43,500 per day for 2026 [1] - The CEO of BW LPG expressed satisfaction with the new contracts, aligning with the strategy to increase coverage to approximately 40% of fleet capacity through period charters and/or FFAs [1] Group 2 - BW LPG operates a fleet of over 50 VLGCs, including 22 vessels powered by LPG dual-fuel propulsion technology, and has over five decades of LPG shipping experience [1] - The company has an in-house LPG trading division and commercial expertise to explore investments in value chain assets, enhancing its service reliability for LPG sourcing and delivery [1] - BW LPG is associated with BW Group, which controls a fleet of over 450 vessels and has investments in various sectors, including renewables [1]

Dorian LPG (NYSE:LPG) Q3 2026 Earnings call February 05, 2026 10:00 AM ET Company ParticipantsJohn Hadjipateras - CEOJohn Lycouris - Head of Energy TransitionTed Young - CFOTim Hansen - Chief Commercial OfficerConference Call ParticipantsCliment Molins - AnalystOmar Nokta - AnalystOperatorGood morning, and welcome to the Dorian LPG Q3 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder ...

Financial Data and Key Metrics Changes - The company declared a dividend of $0.70 per share, totaling $29.9 million, marking the eighteenth dividend payment and bringing total dividends distributed to over $725 million since the IPO [5] - The reported adjusted EBITDA for the quarter was $74.2 million, with total cash interest expense of $6.8 million [14] - Free cash at the end of the quarter was $294.5 million, an increase of about $25 million from the prior quarter [15] - The debt balance at quarter end was $516 million, with a debt to total book capitalization ratio of 32.2% and net debt to total capitalization at 13.8% [15] Business Line Data and Key Metrics Changes - The TCE per available day for the quarter was $50,333, with the Helios pool earning a TCE of $50,500 per day for its spot and COA voyages [10][11] - Daily operating expenses for the quarter were $9,558, remaining flat compared to the prior quarter [12] - Time charter expenses for TCN vessels were $18.2 million, consistent with guidance [13] Market Data and Key Metrics Changes - Global seaborne LPG trade reached a new quarterly record of over 37 million tons, with North America exports hitting a record of more than 18.5 million tons [21] - The Middle East exports were the second highest quarterly export volume on record [21] - The freight market faced challenges due to lower than anticipated Saudi Contract Prices and new port service fees in China [22][24] Company Strategy and Development Direction - The company is focused on enhancing energy efficiency and sustainability, operating 16 scrubber-fitted vessels and 5 dual-fuel LPG vessels [31] - The company plans to maintain a balance between dividends, deleveraging, and fleet investment [20] - The delivery of a new 93,000 cubic meter VLEC is expected in March 2026, which will be fitted with energy-saving devices [8][34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, citing strong production levels and a positive outlook for the year despite recent market volatility [46] - The company remains committed to investing in fuel efficiency and reducing greenhouse gas emissions, viewing regulatory changes as an opportunity for improvement [36] Other Important Information - The company completed 12 dry dockings in the past year and has one more scheduled, which will complete the dry-docking cycle for its fleet [7] - The average AER for the fleet in 2025 was 6.24%, which is better than the IMO required target [35] Q&A Session Summary Question: What is driving the counterseasonal strength in the spot market? - Management noted that uncertainties in the previous quarter led to less cargo lifted, but as conditions improved, production levels increased, contributing to a strong outlook for 2026 [45][46] Question: Can you provide details on the time charter rate for the Chaparral? - Management refrained from disclosing specific rates but indicated that the chartering strategy is opportunistic and reflects current market conditions [49] Question: How will the new building be financed? - The company plans to finance the remaining payment for the new building, with more details to be provided later [53] Question: To what extent can the fleet speed up if rates remain solid? - Management indicated that there is limited leeway for older vessels due to environmental regulations, but some eco vessels may have slight speed increases [58] Question: What improvements have the energy-saving devices resulted in? - The energy-saving devices typically provide around a 5% improvement in efficiency, with payback generally within a year [62]

Financial Data and Key Metrics Changes - The company declared a dividend of $0.70 per share, totaling $29.9 million, marking the eighteenth dividend payment and bringing total dividends distributed to over $725 million since the IPO [4] - The reported adjusted EBITDA for the quarter was $74.2 million, with total cash interest expense of $6.8 million [10] - Free cash at the end of the quarter was $294.5 million, an increase of about $25 million from the prior quarter [11] - The debt balance at quarter end was $516 million, with a debt to total book capitalization ratio of 32.2% and net debt to total capitalization at 13.8% [11] Business Line Data and Key Metrics Changes - The TCE per available day achieved was $50,333, with the Helios pool earning a TCE of $50,500 per day for its spot and COA voyages [6][8] - Daily operating expenses for the quarter were $9,558, remaining flat compared to the prior quarter [9] - Time charter expenses for TCN vessels were $18.2 million, consistent with guidance [10] Market Data and Key Metrics Changes - Global seaborne LPG trade reached a new quarterly record of over 37 million tons, with North America exports hitting a record of more than 18.5 million tons [15] - The VLGC market remained strong, with spot earnings well above long-term mid-cycle despite some volatility [4] - The average Baltic Index was lower than the previous quarter, but upward momentum was observed heading into 2026 [20] Company Strategy and Development Direction - The company is committed to enhancing energy efficiency and sustainability, operating 16 scrubber-fitted vessels and 5 dual-fuel LPG vessels [21] - The company plans to maintain a balance between dividends, deleveraging, and fleet investment [14] - The delivery of a newbuilding ammonia-capable VLGC is expected at the end of March 2026, with a payment of about $62 million planned [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, citing strong production levels and a positive outlook for the year [35] - The company noted that geopolitical impacts on the world market are likely, but the attractiveness of LPG as a commodity supports the belief that risks can be mitigated [20] - Management highlighted the importance of regulatory changes and the company's preparedness to meet future requirements [24] Other Important Information - The company completed 12 dry dockings in the past year, with one more scheduled, resulting in cost savings and emission reductions [5] - The average Dorian LPG fleet AER for 2025 was 6.24%, which is 10.4% better than the IMO required target for that year [23] Q&A Session Summary Question: What is driving the counterseasonal strength in the spot market? - Management indicated that uncertainties in the previous quarter led to a backlog of cargoes, which contributed to the current strength in the market [34][35] Question: Can you provide details on the charter rate for the Chaparral? - Management refrained from disclosing specific rates but noted that the charter was done opportunistically and is comparable to spot market earnings [38] Question: How will the new building be financed? - The company plans to finance the remaining payment for the new building, with more details to be provided later [41] Question: What improvements have the energy-saving devices resulted in? - Energy-saving devices generally provide around a 5% improvement in efficiency, with payback typically within a year [48][50]

Investor Highlights February 2026 2 Investor Highlights – 3Q FY26 Earnings Baltic VLGC Index Performance Helios LPG Information Dorian LPG Operating Statistics 1 Disclaimer Forward-Looking Statements This presentation contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "will," "should," and ...

Core Viewpoint - Dorian LPG Ltd. reported its financial results for the three months ended December 31, 2025, highlighting a significant dividend declaration of approximately $29.9 million, or $0.70 per share, to be distributed to shareholders [1]. Financial Performance - The company declared an irregular dividend totaling approximately $29.9 million [1]. - The dividend amount per share is set at $0.70 [1]. - The payment date for the dividend is scheduled for on or about February 24, 2026 [1]. - The record date for shareholders eligible to receive the dividend is February 9, 2026 [1].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-36437 | Marshall Islands | 66-0818228 | | --- | --- | | (State or other jurisdiction of incorpo ...

Core Viewpoint - Dorian LPG Ltd. has declared an irregular cash dividend of $0.70 per share, returning approximately $29.9 million to shareholders [1] Financial Performance - The company will announce its financial results on February 5, 2026, prior to market opening [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 30, 2026 DORIAN LPG LTD. (Exact name of registrant as specified in its charter) Republic of the Marshall Islands 001-36437 66-0818228 (State or other jurisdiction of incorporation or organization) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR ...