Capital Clean Energy Carriers : CCEC Q1 26 earnings presentation FINAL

Published: 2026-05-07 09:20:51 ET CCEC

Published on 05/07/2026 at 09:20 am EDT

May 7, 2026

capitalcleanenergycarriers.com

Q1 2026

Highlights

https://www.capitalcleanenergycarriers.com

First Quarter 2026 Highlights

Net Income for Q1 2026 from continuing operations: $18.3 million

Declared dividend $0.15 per share for the quarter

Average remaining charter duration 6.9 years1 with 71% charter coverage1 for 2026 and 55% for 2027

Contracted revenue backlog of more than $3.0 billion, with 97% from gas assets1

1. As of March 31, 2026

Financials

https://www.capitalcleanenergycarriers.com

Key commentary

Profit Statement - Highlights

For the Three-Month

Period Ended

For the Three-Month

Period Ended

March 31 2026

March 31 2025

Dividend per share $0.15

maintained

Revenues 98,009 102,037

Expenses:

Voyage expenses 6,157 1,068

Other (expense) / income, net:

Interest expense and finance cost

(23,034)

(27,769)

Other (expense) / income, net

(2,374)

1,648

Voyage operating expenses 19,566 14,001

Vessel operating expenses - related parties

General and administrative expenses

2,487

3,465

2,280

4,129

2 Solid revenue generation

reflecting fully utilized fleet

Vessel depreciation and amortization

22,657

21,769

Operating income, net

43,677

58,790

Significantly reduced interest

3 expense driven by lower

Total other expense, net

(25,408)

(26,121)

weighted average interest

Net income from continuing operations

18,269

32,669

cost

Net income from discontinued operations

3,765

48,048

Net income from operations

22,034

80,717

No Special Surveys on

LNG fleet until 2028

Special Survey Status

Special Survey update

Built

LNG/C

2020

2021

Aristos I

Adamastos

2021

August 2025 -off-hire 21.3 days, Total cost $4.5m ($3.3m expensed & $1.2m Deferred)

Aristidis I

September 2025 -off hire 16.8 days, Total cost $4.5m ($3.3m expensed & $1.2m Deferred)

March 2026- off hire 18.5 days, Total cost $4.5m ($3.0m expensed & $1.5m Deferred)

April 2026

2021

Aristarchos

Attalos

To commence in 3rd Quarter 2026

2021

Asklipios

To commence in 3rd Quarter 2026

Guidance on Dry Dockings remains unchanged 20-25 days off-hire & aprx. $5.0m cost per vessel

Solid cash position of

$546.4 million

1 (including restricted cash)

Net Leverage Ratio1 of 45.6%

Key commentary

Balance Sheet - Highlights

As at end

March 31, 2026

December 31, 2025

Assets

Current Assets

559,696

426,005

Fixed Assets

3,643,091

3,570,778

Other Non-Current Assets

90,923

98,331

Total Assets

4,293,710

4,095,114

Liabilities and Shareholders' Equity

Current Liabilities

401,269

309,524

Long-Term Liabilities

2,375,812

2,286,223

Total Shareholders' Equity

1,516,629

1,499,367

Total Liabilities and Shareholders' Equity

4,293,710

4,095,114

Issued EUR 250.0 million in

unsecured bonds on the Athens Exchange

1. As defined in our financing agreements adjusted for the fair market value of our vessels; market value of vessels being the average of values indicated by two independent appraisers 8

CCEC

Strategic Update

https://www.capitalcleanenergycarriers.com

Newbuilding Delivery Schedule Update for 2026

` April 26 May 26 Jun 26 Jul 26 Aug 26 Sep 26 Oct 26 Nov 26 Dec 26 Jan 27

LNG/C Archimidis

LNG/C Agamemnon

LNG/C Alcaios I

LNG/C Antaios I

LCO2/multi-gas Amadeus

✓

MGC Aristogenis

LCO2/multi-gas Alkimos

MGC Aridaios

MGC Aratos

LCO2/multi-gas Athenian

Delivered

CCEC - LNG Time Charter Book

Contracted backlog of 97 years at an average TCE of $86,4071, or ~$2.9bn of LNG/C charter revenue Backlog could increase to 136 years, or $4.3bn with all options exercised

Firm

With Options

2034

2032

2033

2026 / 2037

2043

2028

2030

2032

2031

2035

2031

2035

2032

2035

2034

2031

2034

2037

2032

2037

2034

2039

2034

2037

2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039

Attalos Aristos I Aristidis I Amore Mio I Adamastos Asterix I Aristarchos Asklipios Axios II Assos Aktoras Apostolos Archimidis Agamemnon

Alcaios I Antaios I Athlos Archon Amfialos Amfilochos Amissos

1. TCE: Time Charter Equivalent rate. We have added $15,000 per day on the bareboat charter rate of two of our vessels on bareboat charter to provide an average TCE estimate

BGN Joint Venture - Multiple Strategic Benefits for CCEC

Attractive Asset Pricing

Price paid for Amore Mio I secures current valuations on CCEC fleet

CCEC retains controlling stake

Transaction Highlights

Balance sheet optimization

Partially monetize an asset at attractive valuation

Frees up financial capacity for further fleet

growth and investment

Divestiture of 49% interest in LNG/C Amore Mio I (2023-built) to a global energy trader

Implied vessel valuation of US$230.0 million CCEC retains 51% controlling interest

Generates visible cashflows

10 year charter +3 +3 options

Revenues up to $485.6 million through to 2043

Innovative transaction

JV secured a 10-year time charter with two 3-year extension options

Transaction to be consummated in 1Q2027

CCEC Capital Expenditure Program

Newbuilding program financing well supported & brought forward LNG/Cs fully financed

Million

$3,300

3,013

( 546 )

176

( 2,151 )

220

( 712 )

$2,800

$2,300

$1,800

$1,300

$800

$300

-$200

Newbuilding Program Cash Capex paid 2021 Bond Repayment Debt Net Equity Inflow

Notes:

Newbuilding Program reflects the total acquisition price of the remaining vessels CCEC acquired and has agreed to acquire, and has not taken delivery of, as of March 31, 2026

Cash as of March 31, 2026

Capex paid includes all advances made in relation to our Newbuilding Program as of March 31, 2026 13

5. Debt basis agreed financing terms, including LNG/Cs Archimidis and Agamemnon. We assume 70% debt financing of acquisition price for the remaining LNG/Cs

LNG Market Update

https://www.capitalcleanenergycarriers.com

Qatar outage to have substantial impact

70 70

LNG production mtpa

60 60

50 50

40 40

30 30

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Asia Europe South America Other

Pre-war Shorter War Base Case Longer War

Qatar LNG output reduction; Europe & Asia will compete to attract LNG driving prices & freight higher

Global LNG and Energy prices risen strongly

Implications

Price Impacts

JKM & TTF ~ from10-12 $/Mbtu to 20

$/MMbtu

JKM/TTF spread to 2 $/Mbtu

Henry Hub stable

Global Gas & Alternative Fuels ($/mmbtu)

Europe

Winter 25-26 was colder winter than average

EU storage levels are lower than the 5y average

- ~ 25%

Must replenish over summer 26/27

$mmbtu

Asia

Advanced Asia can pay higher prices

Emerging nations are price sensitive

Security of supply key consideration

LNG Freight Rates

Strong freight rates as supply disruption & uncertainty pushes transportation costs higher

1-Jan-26 22-Jan-26 12-Feb-26 5-Mar-26 26-Mar-26 16-Apr-26 JKM GASOIL COAL FUEL OIL

Energy security is now key - US LNG Supply will prove vital

Tonne-mile demand for US LNG by destination region

Delivered volume of US LNG by destination region

300

250

2,000,000

1,800,000

250-330 ships Replacement

1,600,000

200

1,400,000

mmtpa LNG

Million tonne-miles

1,200,000

150

1,000,000

800,000

100

600,000

400,000

200,000

2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 2047 2049

Source: Woodmac

2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 2047 2049 2050

* Assumes 2-stroke vessel utilization 60-80% 17

Source: Woodmac

Scrapping potential higher with strong start to recycling in 2026

2025 was record year for scrapping

Run rate already ahead of that for 2026

50 16 16

14 14

12 12

Average age LNG/C scrapped

# of LNG vessels scrapped

25 8

20 6

0 0

2020 2021 2022 2023 2024 2025

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2022 2023 2024 2025 2026

Source: Clarksons

~ of LNG/C scrapped

CCEC retains most open slots globally

CCEC still controls the lion's share in open committed newbuldings

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2023

2024

2025

2026

2027

2028

2029

2030

2031

Source: SSY 19

LNG Shipping Supply / Demand outlook

700

600

Qatar loses 30% of 80mtpa exports at 1.5x vessels per mt so 37.5 vessels for each 2026 2027 and 2028

No change to delivery schedules 107 new LNG/C 2026 83 - 2027 72 - 2028 41- 2029 10- 2030 Blue dotted line required vessels on FID

Orange dotted line required vessels on FID and fully permitted basis - arguably likely to get FID given situation

So 2027 190 required vessels versus 207 net deliveries

365

494

277

346

190

224

131

-15

-36

-139

-113

-88

-61

149

186

195

207

215

231

269

341

392

382

Assumptions -

609

500

# of LNG/Cs

400

300

200

100

-100

-200

Source: Poten

Assume scrapping - all vessels 25 yr + at special survey; 50% at 20 yr survey

2025 2026 2027 2028 2029 2030

Gross Cumulative Deliveries

Net Deliveries FID LNG mtpa capacity - vessels required

FID & Committed LNG mtpa capacity - vessels required

LNG Shipping Supply s Demand ~ inflection point early 2028 assuming no action on fleet or Liquefaction growth

Disclaimer

Capital Clean Energy Carriers Corp. published this content on May 07, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2026 at 13:19 UTC.