DHT : 4Q22 Earnings Call

February 9, 2023

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.

February 9, 2023

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Q4'22 Financials

BALANCE SHEET HIGHLIGHTS

		As per
$ Thousands		31.12.2022
Cash	$	125,948
Other current assets	$	109,641
Vessels*	$	1,266,581
Other assets	$	6,304
Total assets	$	1,508,474
Current portion of long-term debt	$	29,626
Other liabilities	$	38,292
Long-term debt	$	367,069
Equity	$	1,073,486
Total equity and liabilities	$	1,508,474

Total liquidity of $360 million

▪	Cash	$ 125.9 million
▪	RCF availability	$ 234.4 million

Interest bearing debt to total assets

• Marked to market: 19.4%

Net debt per vessel as of 31.12.2022

• $11.8 million

*Including advances for vessels and vessel upgrades

February 9, 2023

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Q4'22 Financials

P&L HIGHLIGHTS

		Q4 2022
$ Thousands, except per share
Revenues on TCE basis	$	116,741
Vessel operating expenses	$	(19,936)
G&A	$	(2,764)
EBITDA	$	95,414
Interest expenses	$	(6,462)
Net Income / (loss) after tax	$	61,819
EPS	$	0.38

Average TCE Q4 2022

• $56,900 per day
• • $63,800 per day Spot
  • $36,100 per day Time Charter

February 9, 2023

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Q4'22 Financials

P&L HIGHLIGHTS

		Q4 2022
$ Thousands, except per share
Revenues on TCE basis	$	116,741
Vessel operating expenses	$	(19,936)
G&A	$	(2,764)
EBITDA	$	95,414
Interest expenses	$	(6,462)
Net Income / (loss) after tax	$	61,819
EPS	$	0.38

2022

$ 264,880

$ (73,809)

$ (16,889)

$ 177,946

$ (26,197)

$ 61,979

$ 0.37

Average OPEX 2022

• $8,250 per day

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