Star Bulk Carriers (SBLK) Corporate presentation summary

Company profile and fleet overview

• Operates 140 vessels with a total deadweight tonnage of 13.9 million and an average fleet age of ~12.2 years.

• Market capitalization stands at $3.0 billion, with $768 million in TCE revenues as of 2025.

• Fleet utilization is 95%, with 72.1 million tonnes of cargo carried in 2025 and 3,277 port calls across 94 countries.

• 80 vessels are classified as "Eco" and 98% of the fleet is scrubber-fitted, enhancing fuel efficiency.

Financial performance and shareholder value

• Cash and cash equivalents total ~$562 million, with net debt per vessel below scrap value and a 60% reduction since 2021.

• Over $3.1 billion in shareholder value created since 2021 through dividends, share buybacks, and debt reduction.

• Dividend policy targets 100% of free cash flow distribution, subject to a minimum cash threshold per vessel.

• New $100 million share repurchase program authorized.

Operating performance and leverage

• Q1 2026 revenue reached $212.5 million, with adjusted EBITDA of $113.0 million.

• Fleet-wide market value is $3.9 billion as of March 2026.

• Illustrative free cash flow yield ranges from 10% to over 22% at various TCE rate scenarios.