Capital Clean Energy Carriers Corp.

Thank you for standing by and welcome to the Capital Clean Energy Carrier Score, Second Quarter 2025 Financial Results Conference Call. We have with us Mr. Jerry Kaligaratos, Chief Executive Officer, Mr. Brian Gallagher, Executive Vice President, Investor Relations, and Mr. Nikos Tripadakis, Chief Commercial Officer. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question and answer session, at which time if you wish to ask a question, you will need to press star one on your telephone and wait for your name to be announced. I must advise you that this conference is being recorded today, July 31, 2025. The statements in today's conference call that are not historical facts, including our expectations regarding acquisition transactions and their expected effect on us, cash generation, equity returns, and future debt levels, our ability to pursue growth opportunities, our expectations or objectives regarding future distribution amounts or unit buyback amounts, capital reserve amounts, distribution coverage, future earnings, capital allocation, as well as our expectations regarding market fundamentals, and the employment of our vessels, including redelivery dates and charter rates, may be looking statements. As such, as defined in section 21E of the Securities Exchange Act of 1934 as amended. These forward-looking statements involve risks and uncertainties that could cause the stated or forecasted results to be materially different from those anticipated. Unless required by law, we expressly disclaim any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in our views, or expectations to conform to actual results or otherwise. We make no prediction or statement about the performance of our common shares. I would now like to hand over to your speakers today, Mr. Brian Gallagher. Please go ahead, sir.

Thank you, Abhoyekta. Good morning or afternoon to you wherever you are, and thank you for listening to the Capital Clean Energy Carriers Q2 2025 earnings call. As a reminder, we'll be referring to supporting slides available on our website as we go through today's presentation. So for kickoff of the highlight slide on slide four, you can see that after a very busy Q1 with new contracts, charter extensions, and vessel sales, Q2 has been much more routine for the company. Net income from operations, primarily from our 15 vessels on the water, 12 energy carriers and three container vessels, came in for the quarter at just under $30 million. From this, our ongoing fixed distribution of 15 US cents per share was paid out to shareholders, meaning the company now paid a cash dividend for every single quarter since our listing in March 2007. Importantly, CCEC secured some financing on two of our LCO2 carriers, which we start to take delivery of next year. The companies also continue to look at organic methods to improve the trading in our shares and offer shareholders maximum functionality for their investments. This is reflected in a dividend reinvestment program, a trip, being offered for the first time in Q2. The results of this quarter allow investors to see what the core drivers are for the company and what they look like. This has often been overshadowed in recent quarters by other developments, such as asset sales or new contracts. And as we pivot towards our stated objective and goal of an LNG gas transportation focused company, you can see clearly how the company is performing. I had a commercial guide us through the key company drivers and interesting sector dynamics within the LNG market later on. I will now hand over to Jerry Keller-Jerazdis, our chief executive, to take us through the first financial highlights. Thank you, Brian, and good morning to everyone who is joining me today.

Indeed, the results of the second quarter of 2025 fully reflect all our investing that has been deployed under the respective long-term sectors. And unlike previous quarters, we do not have any container investment. Yes, it is quite an indicative quarter in terms of the -of-generation of our recently-staged, prior, of course, to the expansion of our asset base with a new building, LNG, and other gas vessels that start coming from the first quarter of 2026. Despite an ongoing capital investment program of over $2.3 billion in this new group, the dividend payout remains a core component of the company's value proposition to shareholders. The 15-tenth dividends we paid on August 8th make this quarter the 73rd consecutive quarter that the company has paid a cash dividend. Looking now at slide seven, our cash position, which continues to provide the company with a strong buffer, stood at a total of $357 million as of the end of the quarter. Proportions are strong, and we can see that our capital base continues to consolidate as we await the next schedule of ships to be delivered next year. There is a little more to report here, and investors will remember 80% of our housing costs are floating rates, hence we expect the benefits should start cutting rates in the second half of 2025. In the quarter, we continue to build on the financial of our new groups on order, and we look at a little more detail on slide eight. So we have secured financing for two of the FCE2 carriers that will be delivered to us during 2026. The financing amount is approximately $51 million per vessel, and provides for an increased advance amount up to $58.7 million at a lower margin if any of the vessels secure period of deployment three years or longer. We're also making progress on financing of some of our other new groups on order, and expect to have more to report by the next quarter year. Moving on to slide ten, the FCE2 carriers with our average target duration of 7.1 years across the fleet and our energy fleet showcasing a charge backlog of 88 years of prime period and 2.7 million for traffic revenue, or 118 years if all options were free exercise. We continue to be in constant dialogue with counterparties regarding our energy fleet in what has become an increasingly more active period market, and looking for the right employment structure for every building. Nichols will provide more color later on during the call. In summary, we will look to further expand our charter book as we work towards fixing the internal employment for the remaining assets of our fleet. Fair enough slide 11, and look at the contracted revenue base in more detail. Again, there is no material change for the first quarter, but we're highlighting the counterparty diversity that our charter post-revenue offers. Overall, when it comes to capital, no single counterparty represents more than 20% of the 3 million contracted revenue backlog. This diversity provides the company with a strong framework to build their gas transportation portfolio further, with a mix of existing corporate relationships and new customers. I would like to finish this section now with a quick look at our new building capex program and our expectations with regard to its financing, described in more detail on slide 12. So we ended the quarter with 357 million of customer value, which provides a solid buffer for the business. From our new building program of 2.3 billion on the way, who have already paid taxes by quarter X to the tune of 539 million. Taking into account the two pesos financing we discussed earlier, and assuming 70% debt financing of the acquisition price of the USD carriers and 60% of the other gas vessels, we estimate the total new debt finance for these vessels to amount to approximately 1.6 billion. That would leave us with a net equity inflow of $1.2 billion, a slide 11 shows, that is without taking into account cash generation from our existing fleet. I would like to turn now the floor over to Chief Commercial Officer Nikos Tsipadakis, who will run you through our L&D market slides. I will be available to answer your questions at the end of the call. Nikos,