Jinhui Shipping and Transportation : Q3 2022 Presentation

JINHUI SHIPPING

AND TRANSPORTATION LIMITED

Q3 2022 Results Presentation

28 November 2022

Disclaimer

• This presentation may contain forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including the Company' management's examination of historical operating trends. Although the Company believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties which are difficult or impossible to predict and are beyond its control, the Company cannot give assurance that it will achieve or accomplish these expectations, beliefs or targets.
• Key risk factors that could cause actual results to differ materially from those discussed in this presentation will include but not limited to the way world economies, currencies and interest rate environment may evolve going forward, general market conditions including fluctuations in charter rates and vessel values, financial market conditions including fluctuations in marketable securities value, counterparty risk, changes in demand in the dry bulk market, changes in operating expenses including bunker prices, crewing costs, drydocking and insurance costs, availability of financing and refinancing, inability to obtain restructuring or rescheduling of indebtedness from lenders in liquidity trough, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents, piracy or political events, and other important factors described from time to time in the reports filed by the Company.

2

Q3 2022 Financial Highlights

• Revenue for the quarter: US$40 million
• Net profit for the quarter: US$0.3 million
• EBITDA: US$12 million
• Basic earnings per share: US$0.003
• Gearing ratio as at 30 September 2022: 7%

3

Highlights - Q3 2022

• Reported net profit of US$0.3 million;
• Chartering revenue decreased 2% to US$40 million, due to weakening of dry bulk market during the quarter; while the number of owned and chartered-in vessels was increased as compared to last corresponding quarter in 2021;
• Reported average TCE for Post-Panamax fleet and Supramax fleet of US$20,607 per day and US$19,408 per day respectively;
• Net loss of US$3.8 million on bunker was recognized during the quarter;
• Increase in shipping related expenses mainly due to increase in vessel operating expenses such as crew costs and other pandemic-related manning expenses as well as the increase in number of owned vessels as compared to last corresponding period;

4

Highlights - Q3 2022

• Net loss of US$4.3 million was recognized in current quarter on financial assets at fair value through profit or loss, as compared to net loss of US$2.9 million from last corresponding quarter;
• During the quarter, drawdown of new secured bank loans of US$24.4 million for financing the acquisition of vessels and repaid US$6.1 million of bank borrowings;
• CAPEX of US$38.8 million, of which US$25.5 million was paid for a Supramax which was delivered in July 2022 and US$13.3 million for dry docking and BWTS;
• Contract to acquire two 2014-built Supramaxes, each at a consideration of US$25.4 million; both vessels were delivered in Q4 2022;
• After the reporting date, two Post-Panamaxes were disposed at a consideration of US$17.3 million each. Both vessels were delivered to the purchasers in Q4 2022;
• One Supramax was contracted to dispose at consideration of US$13.3 million and will be delivered in Q4 2022.

5