MPC Container Ships ASA

Investor Presentation • Jun 12, 2025

MPC CONTAINER SHIPS FEARNLEY SECURITIES HIGH YIELD CONFERENCE

Moritz Fuhrmann, Co-CEO and CFO

DISCLAIMER

This presentation (the "Presentation") has been prepared by MPC Container ships ASA (the "Company") for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein.

Please note that no representation or warranty (express or implied) is made as to, and no reliance should be placed on, any forward-looking statements, including projections, estimates, targets and opinions, contained herein. To the extent permitted by law, the Company, its parent or subsidiary undertakings and any such person's officers, directors, or employees disclaim all liability whatsoever arising directly or indirectly from the use of this Presentation. This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances, not historical facts and are sometimes identified by the words "believes", expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forwardlooking statements contained in this Presentation (including assumptions, opinions and views of the Company or opinions cited from third party sources) are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. None of the Company, any of its parent or subsidiary undertakings or any such person's officers, directors, or employees provides any assurance that the assumptions underlying such forward-looking statements are free from errors, nor does any of them accept any responsibility for the future accuracy of the opinions expressed in this Presentation or the actual occurrence of the forecasted developments described herein.

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The contents of this Presentation shall not be construed as legal, business, or tax advice. Recipients must conduct their own independent analysis and appraisal of the Company and the Shares of the company, and of the data contained or referred to herein and in other disclosed information, and risks related to an investment, and they must rely solely on their own judgement and that of their qualified advisors in evaluating the Company and the Company's business strategy.

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COMPANY OVERVIEW

MARKET-LEADING CONTAINER SHIP COMPANY WITH STRONG CHARTER BACKLOG AND EARNINGS VISIBILITY

#1 position

Largest tonnage provider in intra-regional trade worldwide

USD 1.1bn backlog

Firm charter backlog with 96% contract coverage in 2025 and 77% in 2026¹

Solid balance sheet management

High balance sheet flexibility with 33 debt-free vessels and 32% leverage ratio

Listed on Oslo Stock Exchange

Since IPO in 2017, the company has proven strong growth USD 200m bond listed in April 2025

59 vessels

With total capacity of ~141k TEU²

Balanced capital allocations

Focus on long-term and sustainable growth for shareholders and other stakeholders, incl. a clear and transparent dividend policy based on 30-50% of adjusted net profit

MPCC OWNS AND OPERATES A LARGE AND INCREASINGLY MODERN FLEET, WITH DISTINCT FOCUS ON INTRA-REGIONAL TRADE IN GLOBAL MARKETS

SIGNIFICANT PART OF THE FLEET IS ECO DESIGN OR TO BE RETROFITTED

FLEET EMPLOYMENT BY REGION²

• » Feeder vessels play a crucial role in the supply chain by serving intra-regional trade lanes due to their versatility
• » Enhancing port connectivity and accessibility as well as operational flexibility

MPCC IS A KEY PARTNER TO MANY RENOWN LINER OPERATORS

COMPANY OVERVIEW

ROBUST AND FLEXIBLE BALANCE SHEET

• » USD 437m in gross debt covered by USD 1.5bn in asset values
• » USD 207m net debt, 3.4x covered by the company's projected EBITDA backlog
• » USD 200m unsecured sustainability-linked bond listed on Euronext Oslo Børs in Apr'25, of which USD 125m was completed in Sep'24 followed by a tap issue of USD 75m in Mar'25.
• » Weighted average margin on senior secured debt has been reduced by ~40bps over the last 12 months

Fearnley Securities High Yield Conference

MPC Container Ships | | 5 down newbuilding, 5) Encumbered vessels cash breakeven includes dry docking capex as well as debt service, cash breakeven for debt-free encumbered and unencumbered vessels does not include dry docking capex, 6) Arithmetic average of the applicable time charter rate on 19 May 2025

MARKET OVERVIEW

TIMECHARTER MARKET AND S&P: RESILIENT AND DEMAND-DRIVEN

TIMECHARTER INDEX ("HARPEX")

CLARKSON SECOND-HAND PRICE INDEX

» Charter rates remained robust in Q1 2025 due to scarce availability

» The secondhand-market is currently seeing the highest asset valuations in 14 years - outside the pandemic boom

MARKET OVERVIEW

AGEING FLEET AND LOW ORDERBOOK IN MPCC SEGMENT

OB as % of fleet % of fleet >20 years 52% 30% 7% 5% 4% 0% 6% 22% 22% 36% MPCC FOCUS 282 307 146 64 238 354 2,500 2,000 1,500 1,000 500 0 Fleet >12k TEU 8-12k TEU 3-8k TEU 1-3k TEU <1k TEU 752 686 1,554 2,524 1,380 >25y 21-25y 16-20y 11-15y <10y 388 203 104 136 53 Orderbook

AGE STRUCTURE OF FLEET AND ORDERBOOK BY NUMBER OF VESSELS

» In the segments from 1,000 TEU to 8,000 TEU, an orderbook of 240 vessels is facing an ageing fleet of 891 units that are already older than 20 years, representing a ratio of 27%

» The orderbook-to-fleet ratios in the segments from 1,000 TEU to 8,000 TEU are relatively low and the share of the fleet that is older than 20 years is relatively high at the same time and thus offers considerable potential for fleet modernization

MARKET OVERVIEW

KEY MARKET DYNAMICS IN GLOBAL SHIPPING

KEY TOPIC	DESCRIPTION
REGULATIONS	» Newbuilding markets could create opportunities around the IMO Net Zero-Framework implications
US TARIFFS	» Trade tensions create uncertainties, uncertainties impacting future growth » Escalating US tariffs could lead to stronger links among US partners, and increased relocation of global manufacturing
FLEET DEVELOPMENT	» Unpredictability on tariffs could cause bullwhip effects along supply chains » Total orderbook-to-fleet ratio at 29.4% » Largest vessels continue to dominate contracting and orderbook, while significant modernization potentials exist below 8,000 TEU » Supply growth expected to exceed demand growth by 2.7% in 2025 and 1.1% in 2026, indicating market easing
RED SEA	» The ongoing bypassing the Red Sea maintains a 12% TEU-mile increase » An immediate return seems currently unlikely

OUTLOOK

MPCC HAS A STRONG CHARTER BACKLOG BACKED BY STRONG COUNTERPARTIE S PROVIDING HIGH VISIBILITY INTO EARNINGS

ROBUST BACKLOG PROVIDES EARNINGS VISIBILITY1,2,3

CHARTER BACKLOG DEVELOPMENT AND COUNTERPARTIES

MPC Container Ships | | Fearnley Securities High Yield Conference 9 1) Underlying min/max periods for contracted charter based on management assessment. Contracted Revenue and Projected EBITDA not including IFRS adjustments. 2) Revenues / Periods / TCE's / costs in good faith, but indicative only and subject to changes. Fixed revenue and days as of 19 May 2025. 3) Revenue and TCE not including IFRS amortization of time charter carry. 4) Projected EBITDA based on contracted revenue (consolidated fleet) reduced by operating costs of USD 8,510 per day and vessel (incl. voyage expenditures / OPEX / G&As / Shipman) . 5) Subject to redelivery of vessels (agreed min. / max. periods of charter contract). 6) Contracted forward TCE based on revenue divided by fixed operating days, 7) Ranking based on list of 100 largest container/liner operators by Alphaliner

OUTLOOK

REBALANCING CAPITAL ALLOCATION FOR ACCRETIVE GROWTH OPPORTUNITIE S

CAPITALIZING ON S&P MOMENTUM AND CONTINUED EXECUTION OF FLEET OPTIMISATION

STRATEGIC APPROACH TO FLEET RENEWAL AND OPTIMIZATION

• » Continued use of the S&P and charter market to optimize fleet towards younger and more fuel-efficient vessels
• » Extensive retrofit program to significantly increasing vessel efficiency
• » Rational decision making when continuing fleet renewal projects, including to de-risk acquisitions through term charters
• » Newbuilding projects well de-risked by contracted EBITDA
• » Well positioned for upcoming environmental regulations

KEY CLOSING REMARKS

• » Strong operational execution with high contract coverage supporting forward visibility into 2025 and 2026
• » Disciplined capital allocation, with continued dividend distributions and strategic fleet renewal to enhance efficiency and sustainability
• » Strengthened financial flexibility through successful bond tap and diversification of funding sources, including entry into Japanese financing markets

APPENDIX

TRADING UPDATE: CONTINUED STRONG CHARTER MARKET AND STABLE ASSET VALUES

OPERATIONAL HIGHLIGHTS YTD 2025

CHARTERING

• » YTD chartering activity underlines robust market momentum and continued forward fixing due to scarce vessel availability
• » Minimum durations of 24 months on fixtures YTD, translating into healthy backlog

#	DATE VESSEL	TEU	CHARTERER	CHARTER RATE (USD /D)	PERIOD (MONTHS)
1	Feb 25 AS Anita	2,000	COSCO	23,600	24 – 26
2	Feb 25 AS Alexandria	2,000	MSC	23,500	24 - 26
3	Apr 25 AS Svenja	1,700	CMA CGM	22,000	24 – 26
4	Apr 25 AS Nora	3,500	CMA CGM	28,000	32 – 34
5	May 25 Sevillia	1,700	CMA CGM	21,000	23 - 25

OPERATIONS & PROJECTS

• » 2x 1,300 TEU dual-fuel Methanol newbuildings delivered in Q1 & Q2 2025
• » Successful handover of AS Fenja in Q1 2025
• » Active portfolio management with the sale of 7 vessels in Q1 2025, with an average age of 17 years

#	DATE	VESSEL	TEU	BUILT	GROSS PRICE (USD)	HANDOVER STATUS
1	Dec 24	AS Fenja	1,300	2005	8.6m
2	Mar 25	AS Fabiana	1,300	2007	21.8m	August 2025
3	Mar 25	AS Franziska	1,300	2005	en bloc	June 2025
4	Mar 25	AS Fabrizia	1,300	2008		May 2025
5	Mar 25	AS Filippa	1,300	2008		May 2025
6	Mar 25	AS Floriana	1,300	2008	72.0m	May 2025
7	Mar 25	AS Alexandria	2,000	2010	en bloc	June 2025
8	Mar 25	AS Anita	2,000	2010		June 2025

APPENDIX

OVERVIEW OF FINANCING FACILITIES

		Pre	Outstanding
Facility	Type	delivery	31/03/25	Total capacity	Interest rate	#	Repayment profile	Maturity
HCOB	RCF		USD 0m	USD 100m /75m	295bps + SOFR	131	Commitment will be reduced starting in Mar 2024 – Dec 2027	Dec. 2027
CA-CIB	Term Loan	Yes	USD 87.3m	USD ~101m	175 – 275bps + SOFR	2	quarterly 48x 1.1m + 8x 2.4m, 4x 1.4m, followed by subsequent instalments (to be agreed by borrower and lender)	Q2 2031
HCOB Ecofeeder	Term Loan		USD 34.4m	USD 50m	280bps + SOFR	4	14 x quarterly 0.7m + 25m balloon	Aug. 2028
BoComm	Sale & Lease back		USD 36.8m	USD 75m	260bps + SOFR	102	5x monthly 1.2m, 24x 0.3m + 24.4m balloon2	Sep. 2027
Deutsche Bank	Term Loan	Yes	USD 35.0m	USD ~54.5m	230bps + SOFR	2	23 x semi-annual installments of 3.33% + 23.34% balloon	2037
First Citizen Bank	Term Loan		USD 28.5m	USD 30m	195bps + SOFR	2	15 x quarterly 1.5m + 7.5m balloon	Oct. 2028
Development Bank of Japan / Shinsei	Term Loan		USD 16.0m	USD 16m	175bps + SOFR	1	8x quarterly 0.75m, 15x 0.28m + 5.9m balloon	Mar. 2031
KfW-IPEX	Term Loan		USD 0m	USD 52.0m3	190bps + SOFR	2	6 x semi-annual 5.4m, 7x 1.8m + 7.1m balloon	May 2032
Nordic HY Bond	Senior unsecured sustainability-linked		USD 200m	USD 200m	737.5bps	n/a	n/a	Oct. 2029

REPAYMENT SCHEDULE ON EXISTING DEBT PORTFOLIO⁴ (USDm)

Fearnley Securities High Yield Conference

MPC Container Ships | | 1) Release of two vessels May reducing the number of vessels to 11, 2) Voluntary Prepayment of ~USD 2m in May 2025 anticipated – release of one collateralized vessel, 3) Utilization in late May 2025 – all conditions precedent fulfilled, 4) Maturity profile on the debt portfolio per 06.June 2025 considering voluntary prepayments on CA-CIB facilty, including agreed debt facilities on NCL Nordland and for KfW