Highlights - 1Q25

• The strong safety performance continues with high operational efficiency and no significant incidents during the quarter.
• Odfjell delivered a resilient financial 1Q25 result in a market characterized by increased uncertainty due to the initial U.S. trade tariffs announcement.
• Time charter earnings ended at USD 168 million, compared to USD 183 million in 4Q24. TCE/day for the quarter was USD 29,556, down 4% compared to USD 30,744 in 4Q24.
• EBIT of USD 54 million compared to USD 68 million in 4Q24.
• Quarterly net result of USD 34 million. Net result adjusted for one-off items at USD 33 million, compared to USD 53 million in 4Q24.
• Net result contribution from Odfjell Terminals was USD 2.9 million, slightly up from 4Q24.
• Carbon intensity (AER) for 1Q25 was 7.0, a further improvement from the previous quarter and a new record low for Odfjell.
• Bow Olympus completed first near-carbon-neutral transatlantic voyage utilizing suction sails and biofuel.
• Odfjell concluded contracts for two additional newbuildings to be delivered on long-term time charters in 2027 and 2028. This brings Odfjell's total vessel orderbook to 20 ships, of which 18 on long-term time charters.

"Despite heightened market uncertainty following the initial U.S. announcement of trade tariffs, Odfjell delivered a resilient financial result for 1Q25.

This quarter, we reached a new milestone in our decarbonization efforts as an Odfjell vessel successfully completed a near-carbon-neutral transatlantic voyage.

We expect our 2Q25 financial results to be in line with, or slightly better than 1Q25, however we are closely monitoring the uncertain market situation," said CEO Harald Fotland.

Please see attached for the 1Q25 report and presentation. Tomorrow, Thursday, May 8, at 09:00 CET, Odfjell SE will present the results in a live webcast, followed by a Q&A session. Watch the presentation at https://www.odfjell.com/investor/webcast. The presentation will be held in English.