Fourth Quarter 2025 Result Presentation February 11, 2026 1 DISCLAIMER MATTERS DISCUSSED IN THIS PRESS RELEASE MAY CONSTITUTE FORWARD-LOOKING STATEMENTS. THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES SAFE HARBOR PROTECTIONS FOR FORWARD-LOOKING STATEMENTS IN ORDER TO ENCOURAGE COMPANIES TO PROVIDE PROSPECTIVE INFORMATION ABOUT THEIR BUSINESS. FORWARD-LOOKING STATEMENTS INCLUDE STATEMENTS CONCERNING PLANS, OBJECTIVES, GOALS, STRATEGIES, FUTURE EVENTS OR PERFORMANCE, AND UNDERLYING ASSUMPTIONS ...

Financial Data and Key Metrics Changes - The company reported adjusted EPS for Q4 2025 of $7.14 per share, compared to $6.93 per share in Q4 2024, reflecting a slight increase in adjusted net income to $131.2 million from $133.3 million [7][8] - Adjusted EBITDA increased by 0.2% or $0.3 million to $190 million in Q4 2025 from $189.7 million in Q4 2024 [12] - Net debt stood at $141 million, translating to a net debt to Adjusted EBITDA ratio of 0.2x, with 61 out of 85 vessels being unencumbered and debt-free [13] Business Line Data and Key Metrics Changes - The increase in the containership fleet produced $5.2 million of incremental operating revenues, supplemented by $10.5 million from higher fleet utilization and $2.2 million from increased charter income in the dry bulk fleet [9] - However, there was a decrease of $7.8 million in revenues from the container segment due to lower contracted charter rates [9] Market Data and Key Metrics Changes - The company noted that container volumes reached record highs, driven by strong demand for midsize vessels as trade patterns shift [3] - The company secured 10-year charters for four new vessels, contributing to a total contract revenue of $4.3 billion, enhancing earnings visibility [4] Company Strategy and Development Direction - The company continues to focus on securing long-term employment for existing vessels through forward fixtures and investing in modern container vessels [3] - Danaos has begun exploring investments in the energy sector, becoming a strategic investor in the Alaska LNG project, which is expected to produce 20 million tons per annum [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the business community's adaptation to geopolitical disruptions, with no significant slowdown in the U.S. economy and increasing optimism around AI-related investments [3] - The company remains focused on positioning itself at the forefront of shipping and energy growth areas for shareholder benefit [5] Other Important Information - The company declared a dividend of $0.0090 per share for the quarter and has $65 million remaining under its $300 million share repurchase program [13] - Total liquidity at year-end reached $1.4 billion, providing ample flexibility for capital deployment opportunities [14] Q&A Session Summary Question: Alaska LNG project details - The project is expected to be completed by 2030, requiring between 6 to 10 ships, with long-term employment anticipated for 10 to 20 years [24] Question: Future orders for Newcastlemax vessels - The company plans to charter the new Newcastlemax vessels mainly on index, as they are expected to have a high index due to their characteristics [31] Question: Capesize time charter rates - The company prefers to employ Capesize vessels mainly on the spot market, with potential to secure medium-term contracts if extraordinary spikes occur [32]

Financial Performance & Guidance - The company expects approximately $340 million in revenues and adjusted EBITDA of approximately $250 million[9, 10] - The average cost of the four drydockings was approximately $5.6 million per vessel[19] - The company completed $355 million of new financing, releasing $94 million[27] - All-time high cash position of $479 million[27] Market Dynamics - Global LNG exports year-to-date 2025 amounted to 350 MT, a 3% increase year-over-year[33] - European LNG imports increased by 26% year-over-year, reaching 102.6 MT, while Asian imports decreased[33] - US LNG exports have seen strong growth, with Freeport exports up 32% year-over-year and Plaquemines seeing significant increases[36, 37] Fleet & Operations - All four drydockings were completed on time and on budget[14] - The average fleet age is 60 years as of November 2025[27] Newbuild & Scrapping Trends - Newbuild prices have stabilized at approximately $245 million, curbing new orders year-to-date[38, 42] - LNG vessel scrapping is at a new high in 2025[43]