DHT : 2Q22 - Earnings Call

August 11, 2022

DISCLAIMER

Forward Looking Statements

This presentation contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events, in particular regarding dividends (including our dividend plans, timing and the amount and growth of any dividends), daily charter rates, vessel utilization, the future number of newbuilding deliveries, oil prices and seasonal fluctuations in vessel supply and demand. When used in this document, words such as "believe," "intend," "anticipate," "estimate," "project," "forecast," "plan," "potential," "will," "may," "should" and "expect" and similar expressions are intended to identify forward- looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company's estimates and assumptions only as of the date of this presentation and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company's Annual Report on Form 20-F, filed with the Securities and Exchange Commission on March 25, 2022.

The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this presentation might not occur, and the Company's actual results could differ materially from those anticipated in these forward-looking statements.

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Q2'22 Financials

BALANCE SHEET HIGHLIGHTS

		As per
$ Thousands		30.06.2022
Cash	$	105,778
Other current assets	$	82,849
Vessels*	$	1,346,614
Other assets	$	7,025
Total assets	$	1,542,266
Current portion of long-term debt	$	31,398
Other liabilities	$	35,462
Long-term debt	$	450,752
Equity	$	1,024,653
Total equity and liabilities	$	1,542,266

Total liquidity of $294 million

▪	Cash	$ 105.8 million
▪	RCF availability	$ 188.1 million

Interest bearing debt to total assets

• Marked to market: 28%

Net debt per vessel as of 30.06.2022

• $15.7 million

*Including advances for vessels and vessel upgrades

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Q2'22 Financials

P&L HIGHLIGHTS

		Q2 2022
$ Thousands, except per share
Revenues on TCE basis	$	54,053
Vessel operating expenses	$	(18,031)
G&A	$	(4,181)
EBITDA	$	32,522
Interest expenses	$	(6,633)
Net Income / (loss) after tax	$	9,956
EPS	$	0.06

Average TCE Q2 2022

• $24,300 per day

• The Q2 2022 result includes a $12.7 million gain related to sale of vessels and a $4.3 million non- cash gain related to interest rate derivatives
• Thus far in the third quarter of 2022, 68% of the available days have been booked at an average rate of $23,600* per day on a discharge-to-discharge basis

*Not including any potential profit splits on time charters

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Q2'22 Financials

SALE OF VESSELS

• In May 2022 we entered into agreements to sell :
• • DHT Hawk, built 2007, $40 million
  • DHT Falcon, built 2006, $38 million
• Both vessels were delivered during the second quarter of 2022
• Generated a combined gain of $12.7 million
• Repaid outstanding debt of $13.3 million
• Cancelled the RCF tranches of $9.9 million
• Net proceeds of $62.9 million

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