Danaos (DAC) investor relations material

Executive summary

• Achieved strong financial performance in Q2 2026, with operating revenues rising to $274.4M, driven by robust dry bulk market and stable container revenues.

• Extended charter coverage and secured record contracted revenue backlog, ensuring high revenue visibility for coming years.

• Successfully navigated geopolitical disruptions, maintaining full operational status and safety for vessels and crews.

• Strategic investments in LNG, equity stakes in Yoda PLC and Star Bulk Carriers, and ongoing fleet renewal with 28 newbuild containerships and 4 Newcastlemax bulk carriers on order.

• Award-winning digitization initiatives and ESG leadership, having met IMO 2030 emissions targets 11 years early and achieved a 56.2% CO2 reduction by 2025.

Financial highlights

• Adjusted net income for Q2 2026 was $133.1M ($7.29/share), up 15% year-over-year; net income was $151.8M ($8.32/share).

• Adjusted EBITDA for Q2 2026 was $186.8M (up 6.1% YoY); H1 2026 adjusted EBITDA was $367.4M.

• Operating revenues for Q2 2026 were $274.4M; H1 2026 revenues reached $528.1M.

• Free cash flow for the last twelve months reached $684.7M.

• Cash and cash equivalents at June 30, 2026: $1.01B; total liquidity: $1.5B.

Outlook and guidance

• Contracted revenue backlog at a record $4.6B, with 100% container operating days covered for 2026, 93% for 2027, 79% for 2028, and 61% for 2029.

• Management remains cautious on new investments due to elevated asset prices and market volatility.

• Market expects a rebound in world container trade in 2027 after modest 1.7% growth in 2026.

• Charter rates remain above historical averages, supported by strong demand and manageable orderbook.

• Dividend policy remains steady, with future increases subject to board decision.