Ardmore Shipping Corporation

All right. Good morning, everyone. You hear me all right? Yeah, good. Welcome to Ardmore Shipping's 2025 Investor Day, during which we will also be covering the company's results for the fourth quarter of the full year 2024. I'm Brian Degnan with IGB Group. Just a few administrative points before we get underway. This event is being recorded and broadly distributed via live webcast, which, along with today's slides, is accessible at www.ardmoreshipping.com. An audio replay of the event will be available on the website from later today. The Standard Earnings press release was issued pre-market this morning and is also available on the website. Turn to slide two. Later in the event, following the prepared remarks, there will be a Q&A session, at which point we will take questions from people with us in the room today.

For those joining remotely, please feel free. On behalf of the Ardmore Board and its senior management team, let me welcome you all to our annual Investor Day luncheon. Last year in my opening remarks, some of you may remember them, hopefully you don't, I noted that we lived in interesting times. And in many ways, we still live in interesting times. But there's also been a great number of changes since our last meeting. We're hopefully seeing maybe a more settled situation in the Middle East and possibly as of this morning and rapidly. that we must keep our aim constantly focused on the future. As you'll hear this afternoon, Ardmore is focused squarely on the future. We remain committed to performance and progress, to innovation, to our well articulated capital allocation policy, and to thoughtful and transparent governance. With that being said, you'll hear a lot about all those topics this afternoon. And I want to thank you again for your continued interest in and your support of Ardmore Shipping. We remain solidly committed to being good stewards of your investment. And with that, I'll ask Gernot and Bart to come up and join me as they begin their remarks.

Thank you, Curtis, and welcome everyone. We're delighted you could join us today as we are pleased to update you on another great year for Ardmore. For those of you who are new in the audience, slide five gives you a snapshot of our company today. Ardmore is listed on the New York Stock Exchange and our first rate governance is a cornerstone of who we are. It guides our values, our business principles, and how we make decisions. Our core focus is on product and chemical tankers, which we operate through our globally integrated platform. And our performance-based culture and emphasis on innovation is what consistently drives us to deliver outstanding results. Moving to slide six, here's the outline of today's presentation. Bart and I will first guide you through our earnings highlights. We will then pivot to the investor day segment of the presentation. Here, we will focus on external market fundamentals before we give you a business update and a look under the hood. And finally, I'll offer some closing thoughts before opening up the meeting for questions. Turning first to slide seven for highlights. We are pleased to report another successful year for Ardmore. Adjusted earnings were 120 million, or $2.84 per share, for the full year, and 10.3 million, or 25 cents per share, for the fourth quarter. Our markets are experiencing continued strength as a result of tight supply and demand fundamentals, bolstered by ongoing geopolitical disruption. Meanwhile, Ordmoor continues to execute on its long-standing capital allocation policy. We repurchased 4% of our shares during the fourth quarter at an average price of $11.49. And today we declared another quarterly cash dividend of $0.08 per share, consistent with our policy of paying out one third of adjusted earnings. We also remain committed to tight cost management and have achieved low cash break-even levels of $11,500 per day. This positions us to benefit strongly from a wide range of market scenarios and across cycles. Moving to slide eight. Our TCE performance reflects continued strength and rates remain significantly above our cash break-even level. Our MRs earned $22,700 per day for the fourth quarter and $23,400 per day so far in the first quarter with 55% booked. Our six chemical tankers earned $21,400 per day for the fourth quarter and $14,000 per day for the first quarter with 40% booked so far. And with this, I'll hand it over to Bart. Thanks, Gernot.