Capital Clean Energy Carriers Corp.

Hi everyone, and welcome to the Capital Clean Energy Carrier Corp. second quarter 2026 financial results. Please note that this event is being recorded. At this time, all participants are in listen-only mode. We will open the line for questions following the prepared remarks. If you would like to ask a question, please press pound key 5 on your telephone keypad. I will now turn the call over to today's host, Brian Gallagher, Head of Investor Relations. Brian, please go ahead.

Thank you, and a warm welcome to our call today. With us we have the management team, myself, Brian Gallagher, Mr. Nikolaos Kalapotharakos, our Chief Financial Officer, Jack Neelan, our Commercial Head of LPG, along with Nikolaos Tripodakis, our Chief Commercial Officer for the call, and later on we'll have our Chief Executive, Gerry Kalogiratos, joining us for the Q&A session. Before that, I'd like to make a following statement. I must advise you that this conference is being recorded as of today, Wednesday 29th July 2026. The statements in today's conference call are not historical facts, including our expectations regarding the sale or acquisition, transactions and their expected effect on us, cash generation, equity returns, and future debt levels. Our ability to pursue future growth opportunities, our expectations or objectives regarding future distribution amounts or shared buyback amounts, dividend coverage, future earnings, future leverage, capital allocation, as well as our expectations regarding market fundamentals and the employment of our vessels, including delivery dates, re-delivery dates, and charter rates, may be forward-looking statements as defined in Section 21E of the Securities Act 1934 as amended. These forward-looking statements involve risks and uncertainties that could cause the stated or forecasted returns and results to be materially different from those anticipated. Unless required by law, we expressly disclaim any obligation to update or revise any future of these forward-looking statements, whether because of future events, new information, or change in our views or expectations that conform to actual results or otherwise. We amend no prediction or statement about performance on our common shares. We also announced a joint venture on an LNG Gerasimos Kalapotharakos, Nikolaos Tripodakis, Eleni Tsoukala Gerasimos Kalapotharakos, Nikolaos Tripodakis, Eleni Tsoukala Gerasimos Kalapotharakos, Nikolaos Tripodakis, Eleni Tsoukala So another strong delivery of quarter, sorry, another strong quarter of delivery for the company. I'll now hand it over to our CFO Nikos to take us through the front row highlights.

Thank you, Brian, and good morning or afternoon to everyone on the call. Turning to the financials, I would like to touch upon the dividend payout which remains a core component of the company's value proposition to our shareholders. The 15 cents dividend we have declared will be paid on August 13th to shareholders of record on August 4th. Please note that this is the 77th consecutive quarter that the company is paying a cash dividend since its IPO in 2007. Now going back to the company's financials and most specifically the statement of ICA. Our net income from continuing operations was 29 million for the second quarter of 2036 compared to 29.7 million during the same period in the previous year. Revenues for the three-month period ended June 30th rose to 104.9 million up from 96.7 million during the same period in 2025. The increase was mainly attributed to the increase in the average number of vessels in our fleet following the deliveries of our two handy gas carriers, the active and Amadeus, the delivery of our first fuel-fuel medium gas carrier, Aristogenes, and the deliveries of the two energy carriers, Archimedes and Agamemnon. Now, there are two coastline movements worth highlighting this quarter. First, vessel operating expenses, which increased during the quarter compared to the same period last year, mainly due to approximately 3.5 million of additional costs incurred by certain of our vessels passing their special service here, coupled with the increase in the average size of our fleet. Second, depreciation and amortization roles also reflecting the increase in the average size of our fleet following the delivery of five new vessels during the first half of this year. Now moving on to the next slide where we provide a brief update on our special survey schedule. We currently have two remaining energy carriers, Atalos and Asclepios, which are expected to pass their special survey this August. After that, no vessels are scheduled for special survey until 2028. Our guidance remains changed, at a cost of approximately 5 million per dry dock, and around 20 to 25 or 5 days, although the dry docks completed so far have come ahead of budget and were fueled by this. Now moving on to our balance sheet, where total assets grew to 4.7 billion from 4.1 billion at year end, mainly driven by fixed assets, which rose to 4.3 billion as our new building program progressed and we took delivery of investors. Total shareholders' equity currently stands at 1.5 billion. We maintain a solid cash position of 269 million and a net leverage ratio of approximately 54%. During the quarter, we fully repaid our 150 million euro bond issued back in 2021, funded from the proceeds of the 250 million euro bond we issued during the first quarter of this year, which pays a coupon of 3.75% per annum, and thus achieving to extend the maturity profile of our debt at relatively low cost. So let me now turn to our CAPEX program, where the funding of our NUPT program is weighing high. We have already paid a significant portion, the required CAPEX, drawing mainly on internally generated cash flows, asset monetization, and attracting tech financing, including investment issuance. As we progress through 2036 and 2037, we expect CAPEX to be weighted mostly towards the LNG carriers. As you can see, Assuming 70% of the financing for the vessels that do not yet have debt arrangements in place, and without taking internally generated cash flows into account, we expect the company to be fully funded for the remaining capex, with a significant amount of cash to be released back to the company. Now turning to the next slide, our interest rate risk management. With rates staying higher for longer and uncertainty about the path of monetary policy from here, we have decided to take some of that uncertainty or variability off the table. During May and July, we executed two zero-cost callers on compounded software, one for 600 million and the second for 200 million in Notional. both with three-year tenors, bringing our total protected emotional to 800 million. The callers sit between a weighted average floor of roughly 3.7% and a gap of 4.3%. Consequently, if so far stays elevated or moves higher, our exposure is capped, while we still retain the benefit if rates decline. As a result, approximately 50% of Our total debt is currently either fixed rate based or protected against rising interest rates. Now, with that, I will now pass this on to our head of commercial, Nikolaos Tripodakis, to go through the LNG interest industry update.