Seanergy Maritime Holdings Corp.

Thank you for standing by, ladies and gentlemen, and welcome to the Synergy Maritime Holdings Corp conference call on the third quarter and nine months ended September 30th, 2025 financial results. We have with us Mr. Stamatis Tsantanis, Chairman and CEO, and Mrs. Stavros Giftakis, Chief Financial Officer of Synergy Maritime Holdings Corp. At this time, all participants are in a listen-only mode. There will be a question and answer session, at which time, if you would like to ask a question, please press star 1 1 on your telephone keypad, and you will then hear an automated message advising that your hand is raised. Please be advised that this conference call is being recorded today, Thursday, November 13, 2025. The archive webcast of the conference call will soon be made available on the Synergy website, www.synergymaritime.com. To listen to the archive audio file, visit the Synergy website following the webcast and presentation section under the investor relations page. Many of the remarks today contain forward-looking statements based on current expectations. Actual results may differ materially from the results projected from those forward-looking statements. Additional information concerning factors that can cause the actual results to differ materially from those in the forward-looking statements is contained in the third quarter and nine months ended September 30th, 2025 earnings release, which is available on the Synergy website again, www.synergymaritime.com. I would now like to turn the conference over to one of your speakers today, the chairman and CEO of the company, Mr. Stamatis Santanis. Please go ahead, sir.

Thank you, operator, and welcome, everyone. Today, we're pleased to present another quarter of strong performance for Synergy, underlying our consistent profitability, disciplined strategy, and the continued success of our focused CAPE size and universal max platform. a model that we expect will deliver superior earnings capacity versus most peers. Following the strong momentum established in the second quarter, Synergy delivered a profitable third quarter driven by our large vessel exposure and the ongoing strength in the CAPE size market. Net revenue reached approximately $47 million, adjusted EBITDA was $27.5 million, and net income total $12.8 million, demonstrating synergies, superior earnings capacity, and operational leverage. Over the first nine months of the year, we generated net revenue of $108.7 million, adjusted EBITDA of $52.8 million, and net income was $8.8 million. In line with our dividend policy, we declared a cash dividend of 13 cents per share for the quarter, bringing total 2025 distributions to 23 cents per share and reaffirming our commitment to regular shareholder returns. The expiration of our Class E warrants removed legacy dilution and further simplified our capital structure, fully aligning long-term performance with shareholder value. With a fleet of 20 large Cape size vessels and Newcastle Maxxis and fleet loan value ratio around 45%, Synergy is very well positioned to benefit from a robust Cape size cycle. Moving on to fleet developments, we continued executing our disciplined fleet renewal strategy. In October, we placed our first ever new building order, a 181,000 deadweight cave size at Hengley Shipyard, marking the next phase of a large vessel strategy focused on efficiency, scale, and modernization. The vessel is priced at approximately $75 million with delivery scheduled for the second quarter of 2027, offering strategic delivery window ahead of most comparable projects. This decision reflects attractive new building economics versus surging secondhand values and position synergy to capture stronger long-term returns from a modern fuel-efficient fleet. The project's timing aligns with the expected upswing in iron ore and bauxite trade through 2027 and thereafter. In parallel, we sold and delivered the vintage capes I shipped for $21.6 million, releasing approximately 12 million in net liquidity and further optimizing our fleet composition. Our vessels continue to secure premium employment with top-tier charters, supported by index-linked charters that preserve full market exposure. This disciplined structure, complemented by selective FFA hedging, ensures resilience across cycles. Our time chatter equivalent has consistently outperformed the BCI, confirming the strength of our larger vessel commercial model and positioning us for sustained earnings momentum heading into 2026. To conclude the first part of this call, our focus on larger cage-sized and custom-axed vessels continues to differentiate Synergy. These assets deliver superior earnings capacity and long-term value compared to smaller bulk segments. Our boutique platform is built on scale where it matters, vessel size and operational performance, maximizing value creation per share. With a modern efficient fleet, prudent leverage and consistent dividends, Synergy remains very well positioned to lead in shareholder value among listed dry bulk companies. I will now pass the floor to Stavros to discuss our financial update, and I will conclude later with our comments on the market. Stavros, please go ahead.

Thank you, Stamati, and welcome to everyone joining us today. Let me walk you through the key highlights of our financial performance for the third quarter and the nine-month period ended September 30, 2025. The third quarter delivered another period of solid profitability and balanced its strength for synergy, underscoring our disciplined financial management and focus on capital efficiency. For the quarter, net revenue reached $47 million, representing a 6% increase year-over-year, while adjusted EBITDA came in at $26.6 million, broadly in line with last year's performance. Net income and adjusted net income for the quarter were 12.8 million and 14 million respectively, translating to earnings per share of 61 cents. For the first nine months of 2025, net revenue amounted to 108.7 million with adjusted EBITDA of 52.8 million. Net income for the period reached 8.8 million with earnings per share of 42 cents. While these figures are below last year's levels due to a softer market during the first half, we expect profitability to strengthen meaningfully in the fourth quarter, supported by fixtures already secured at higher levels. Turning to our balance sheet, our cash position strengthened to approximately 37 million at the end of the quarter, equivalent to 1.8 million per vessel. This reflects our disciplined approach to cash management as outflows related to vessel acquisitions earlier in the year were effectively offset by the net proceeds from the sale of our older CAPESAS vessel during the third quarter. In parallel, We continue to fund dividend distributions and an extensive dry docking program, underscoring the company's ability to invest in its fleet while maintaining robust liquidity. This healthy cash position provides financial flexibility, enabling us to pursue attractive opportunities and support our new building project with confidence. Notably, our financial performance and stability has enabled us to declare nearly 5 million in cash dividends so far this year, despite the challenging conditions of the first half, reaffirming our commitment to consistent shareholder returns. As of quarter end, our total debt stood at approximately 292 million. Based on the current market value of our fleet, this corresponds to a loan-to-fleet value ratio below 45%, reflecting a healthy and conservatively capitalized profile. On a per vessel basis, our debt stands at roughly 14.6 million, which is nearly 18 million below the average market value of our ships, highlighting the strong asset coverage supporting our balances. In terms of financing activity, this quarter we maintained a measured pace, following an exceptionally active first half of the year, during which we executed transactions totaling 110.6 million. Nevertheless, we are now in the final stages of concluding a highly attractive financing package for our new building, featuring a competitive structure and a compelling interest margin. We expect to be in a position to disclose additional details on upcoming financings soon. The constructive chief finance environment, offering multiple options across both bank and leasing markets, has been an important consideration in our decision to pursue new buildings at this stage. At the same time, we continue to assess opportunities to optimize our capital structure and expect to report additional progress in the coming months. It is also worth noting that we have a clear debt maturity profile through the second quarter of 2026, with no balloon repayments before that period. This provides valuable flexibility and ensures that we can time our future financing strategically without pressure. Finally, as of September 3, 2025, total shareholder's equity reached $271 million. With both Class D and Class E warrants now fully eliminated, Synergy's capital structure is stronger, simpler, and fully aligned with shareholder interests. That concludes my overview. I will now hand the call back to Stamatis who will provide insights on the CAPEX market and broader industry fundamentals. Stamati, over to you.