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0001430725 us-gaap:StockCompensationPlanMember 2026-06-30 0001430725 gsl:O2026Q2DividendsMember us-gaap:CommonClassAMember us-gaap:SubsequentEventMember 2026-08-05 2026-08-05 0001430725 gsl:O2026Q2DividendsMember us-gaap:CommonClassAMember us-gaap:SubsequentEventMember 2026-08-05 iso4217:USD shares iso4217:USD shares gsl:Vessel gsl:TEU pure gsl:Extensions iso4217:USD utr:T gsl:Segment gsl:DerivativeInstruments iso4217:EUR iso4217:EUR compsci:item gsl:Installment gsl:Tranche gsl:Agreement iso4217:EUR utr:D gsl:CommonStock gsl:Pure 6-K 0001430725 false 2026-06-30 --12-31 GLOBAL SHIP LEASE, INC. 388599000 273876000 110450000 199100000 51326000 50520000 50500000 49887000 22357000 14600000 20483000 33623000 22954000 5234000 1309000 148000 667978000 626988000 1966440000 1962888000 129383000 35961000 111766000 110936000 8565000 10830000 98664000 113600000 2314818000 2234215000 2982796000 2861203000 71639000 61912000 41637000 47727000 154504000 147567000 45482000 48885000 740000 692000 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1642971000 35913628 43592 359000 0 694331000 1104617000 1777000 1801084000 4616 0 0 0 5919000 0 0 5919000 0 0 -40000 0 0 -40000 0 0 0 0 -601000 -601000 0 0 0 93829000 0 93829000 0 0 0 2384000 0 2384000 0 0 0 22484000 0 22484000 35918244 43592 359000 0 700210000 1173578000 1176000 1875323000 117190 0 1000 0 5078000 0 0 5079000 0 0 40000 0 0 40000 0 0 0 0 -504000 -504000 0 0 0 91676000 0 91676000 0 0 0 2384000 0 2384000 0 0 0 22522000 0 22522000 36035434 43592 360000 0 705328000 1240348000 672000 1946708000 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">1.</span> </div> <div> <span style="font-weight: bold;">Description of Business</span> </div> </div><div style="clear: both;">  </div><div style="text-align: justify;"> The Company’s business is to own and charter out containerships to leading liner companies. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On August 14, 2008, Global Ship Lease, Inc. (the “Company”) merged indirectly with Marathon Acquisition Corp., a company then listed on The American Stock Exchange, and with the pre-existing Global Ship Lease, Inc. GSL Holdings, Inc., the surviving entity (the “Marathon Merger”), changed its name to Global Ship Lease, Inc. and became listed on The New York Stock Exchange (the “NYSE”). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On November 15, 2018, the Company completed a transformative transaction and acquired Poseidon Containers’ 20 containerships, one of which, the Argos, was contracted to be sold, which sale was completed in December 2018 (the “Poseidon Transaction”). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In 2021, the Company purchased 23 vessels. The Company purchased seven containerships of approximately 6,000 TEU each, 12 containerships from Borealis Finance LLC (the “Twelve Vessels”) and four 5,470 TEU Panamax containerships (the “Four Vessels”). Also on June 30, 2021, vessel La Tour was sold. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During the second quarter of 2023, the Company purchased four 8,544 TEU vessels for an aggregate purchase price of $123,300, which were delivered on various dates in May and June 2023. Also on March 23, 2023, GSL Amstel was sold. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During the fourth quarter of 2024, the Company agreed to purchase four high-reefer ECO 9,019 TEU containerships (the “ECO 9,019 TEU Vessels”) for an aggregate price of $273,891, of which three were delivered on various dates in December 2024. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During the first quarter of 2025, the fourth ECO 9,019 TEU Vessel was delivered in January 2025, and the Company sold also three vessels Tasman, Keta and Akiteta. In May 2025, Dimitris Y was contracted to be sold and was delivered to the buyers on October 13, 2025 (see Note 4). During the fourth quarter of 2025, the Company also agreed to purchase three ECO 8,586 TEU containerships (the “ECO 8,586 TEU Vessels”) for an aggregate purchase price of $90,000, of which two were delivered on various dates in December 2025 and the third one on January 9, 2026. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During the second quarter of 2026, the Company entered into agreements for the sale of four ships, Ian H, Manet, Kumasi and Julie, for an aggregate sale price of $65,500. The ships are scheduled to be delivered to buyers upon expiry of their respective charters. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During the second quarter of 2026, the Company agreed individual newbuilding contracts for 15 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships for an aggregate purchase price of approximately $1,329,863. As of June 30, 2026, the Company had a total of 15 container vessels under construction, with scheduled deliveries between <span style="font-size: 10pt;">fourth quarter 2028 and first quarter 2030.</span></div><div style="text-align: justify;"> </div><div style="text-align: justify;"> Following the above-mentioned additions and the sale of vessels up to June 30, 2026, the Company’s fleet comprises (i) 71 operating containerships with average age as at June 30, 2026, weighted by TEU capacity, of 18.4 years, and (ii) 15 under construction container vessels. </div><div style="text-align: justify;"> The following table provides information about the 71 operating container vessels owned as at June 30, 2026.</div><div style="text-align: justify;"> </div><table style="border-spacing: 0px; border-collapse: collapse; margin: auto 0px; font-size: 10pt; width: 100%;"> <tr style="height: 0px; font-size: 0px;"><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 25%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 16%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 20%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 12%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 12%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 15%;"> </td></tr><tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor;"><b>Company Name ⁽¹⁾</b></td> <td style="padding: 0px; vertical-align: middle; text-align: center; border-color: currentcolor black rgb(0, 0, 0); white-space: nowrap; border-bottom-width: 2px; border-bottom-style: solid; border-top-width: medium; border-top-style: none;"> <span style="font-weight: bold;">Country of<br/> Incorporation</span> </td> <td style="padding: 0px; vertical-align: middle; text-align: center; border-color: currentcolor black rgb(0, 0, 0); white-space: nowrap; border-bottom-width: 2px; border-bottom-style: solid; border-top-width: medium; border-top-style: none;"> <span style="font-weight: bold;">Vessel<br/> Name</span> </td> <td style="padding: 0px; vertical-align: middle; text-align: center; border-color: currentcolor black rgb(0, 0, 0); white-space: nowrap; border-bottom-width: 2px; border-bottom-style: solid; border-top-width: medium; border-top-style: none;"> <span style="font-weight: bold;">Capacity in<br/> TEUs </span> <span style="font-size: .83em; vertical-align: super;">(2)</span></td> <td style="padding: 0px; vertical-align: middle; border-color: currentcolor black rgb(0, 0, 0); white-space: nowrap; border-bottom-width: 2px; border-bottom-style: solid; border-top-width: medium; border-top-style: none; text-align: center;"><b>Year<br/> Built</b> </td> <td style="padding: 0px; vertical-align: middle; text-align: center; border-color: currentcolor currentcolor rgb(0, 0, 0) black; white-space: nowrap; border-bottom-width: 2px; border-bottom-style: solid; border-top-width: medium; border-top-style: none; border-right-width: medium; border-right-style: none;"> <span style="font-weight: bold;">Earliest Charter<br/> Expiry Date</span> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle;"> <div> Global Ship Lease 54 LLC </div> </td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-6"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center;"> CMA CGM Thalassa </td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center;"> 11,040 </td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center;"> 2008 </td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center;"> 3Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Laertis Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-7"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Zim Norfolk </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,115 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q32 <span style="font-size: .83em; vertical-align: super;">(4)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Penelope Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-8"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Zim Xiamen </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,115 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q32 <span style="font-size: .83em; vertical-align: super;">(4)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Telemachus Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-9"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Anthea Y </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,115 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q28 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 78 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-10"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Sydney Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,019 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2016 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q27 <span style="font-size: .83em; vertical-align: super;">(5)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 79 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-11"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Istanbul Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,019 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2016 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(5)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 77 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-12"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Bremerhaven Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,019 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q27 <span style="font-size: .83em; vertical-align: super;">(5)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 76 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-13"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Czech </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,019 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q28 <span style="font-size: .83em; vertical-align: super;">(5)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 53 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-14"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> MSC Tianjin </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,603 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2005 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q30 <span style="font-size: .83em; vertical-align: super;">(6)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 52 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-15"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> MSC Qingdao </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,603 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q30 <span style="font-size: .83em; vertical-align: super;">(6)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 43 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-16"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Ningbo </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,603 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q30 <span style="font-size: .83em; vertical-align: super;">(6)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 72 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-17"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Alexandra </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,599 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q28 <span style="font-size: .83em; vertical-align: super;">(7)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 73 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-18"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Sofia </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,599 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2003 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q28 <span style="font-size: .83em; vertical-align: super;">(7)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 74 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-19"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Effie </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,599 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2003 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q28 <span style="font-size: .83em; vertical-align: super;">(7)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 75 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-20"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Lydia </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,599 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2003 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(7)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 80 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-21"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Lotus A </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,586 </td> <td style="padding: 0px; vertical-align: middle; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> <div> 2010 </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q26 <span style="font-size: .83em; vertical-align: super;">(8)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 81 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-22"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Koi </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,586 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2011 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q26 <span style="font-size: .83em; vertical-align: super;">(8)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 82 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-23"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Cypress </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,586 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2011 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q26 <span style="font-size: .83em; vertical-align: super;">(8)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 30 Limited </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-24"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Eleni </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,847 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q27 <span style="font-size: .83em; vertical-align: super;">(9)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 31 Limited </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-25"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Kalliopi </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,847 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(9)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 32 Limited </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-26"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Grania </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,847 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(9)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Alexander Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-27"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Colombia Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,072 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q28 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Hector Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-28"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Panama Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,072 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Ikaros Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-29"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Costa Rica Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,072 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q29 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Philippos Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-30"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Nicaragua Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,072 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q29 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 48 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-31"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Ateti (ex CMA CGM Berlioz) <span style="font-size: .83em; vertical-align: super;">(11)</span></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,023 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> <div>     2Q29 <span style="font-size: .83em; vertical-align: super;">(11)</span></div> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Aristoteles Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-32"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Mexico Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,918 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q29 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Menelaos Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-33"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Jamaica Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,918 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q29 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 35 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-34"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Nicoletta </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,858 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2002 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 36 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-35"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Christen </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,858 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2002 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Leonidas Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-36"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Agios Dimitrios </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,572 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2011 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q30 <span style="font-size: .83em; vertical-align: super;">(6)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 33 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-37"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Vinia </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,080 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(12)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 34 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-38"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Christel Elisabeth </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,080 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(12)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Arcadia LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-39"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Arcadia </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,008 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Melita LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-40"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Melita </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,008 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Maria LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-41"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Maria </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,008 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q30 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Violetta LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-42"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Violetta </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,008 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL MYNY LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-43"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL MYNY </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,008 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Tegea LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-44"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Tegea </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,994 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Dorothea LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-45"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Dorothea </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,994 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Drake Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-46"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Ian H <span style="font-size: .83em; vertical-align: super;">(19)</span></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,936 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 68 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-47"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Kithira </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,470 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2009 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 69 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-48"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Tripoli </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,470 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2009 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 70 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-49"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Syros </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,470 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2010 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 71 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-50"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Tinos </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,470 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2010 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Zeus One Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-51"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Orca I </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,308 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q28 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Hephaestus Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-52"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Dolphin II </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,095 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2007 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 47 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-53"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Château d’If </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,089 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2007 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(14)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Alcazar Inc. </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-54"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> CMA CGM Alcazar </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,089 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2007 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q29 <span style="font-size: .83em; vertical-align: super;">(14)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 55 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-55"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Susan </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4,363 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2008 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 50 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-56"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> CMA CGM Jamaica </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4,298 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 49 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-57"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> CMA CGM Sambhar </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4,045 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 51 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-58"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> CMA CGM America </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4,045 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 57 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-59"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Rossi </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3,421 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2012 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 58 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-60"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Alice </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3,421 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2014 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 60 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-61"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Eleftheria </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3,421 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q28 </td> </tr> </table><table style="border-spacing: 0px; border-collapse: collapse; font-size: 10pt; width: 100%;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 25%;"> </td><td style="width: 16%;"> </td><td style="width: 20%;"> </td><td style="width: 12%;"> </td><td style="width: 12%;"> </td><td style="width: 15%;"> </td></tr><tr style="vertical-align : top; height : 1pt; white-space : nowrap; "> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); border-top-color: currentcolor; border-right-color: black; border-left-color: currentcolor; text-align: center; border-top-width: medium; border-top-style: none; border-left-width: medium; border-left-style: none; vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Company Name <span style="font-size: 0.83em;">⁽¹⁾</span></span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); border-top-color: currentcolor; border-right-color: black; border-left-color: black; text-align: center; border-top-width: medium; border-top-style: none; vertical-align: bottom;"> <div> <span style="font-weight: bold;">Country of<br/> </span> </div> <div> <span style="font-weight: bold;">Incorporation</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; vertical-align: bottom;"> <span style="font-weight: bold;">Vessel<br/> Name</span> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; vertical-align: bottom;"> <div> <span style="font-weight: bold;">Capacity<br/></span> </div> <span style="font-weight: bold;">in TEUs </span> <span style="font-size: 0.83em;">⁽²⁾</span></td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; vertical-align: bottom;"> <span style="font-weight: bold;">Year <br/>Built</span> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; vertical-align: bottom;"> <span style="font-weight: bold;">Earliest Charter<br/> Expiry Date </span> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 59 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-62"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Melina </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3,421 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(15)</span> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Pericles Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-63"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Athena I (ex Athena) </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,980 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2003 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q27 <span style="font-size: .83em; vertical-align: super;">(16)</span> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 61 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-64"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Mercer </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,824 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2007 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 62 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-65"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Mamitsa </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,824 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2007 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 63 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-66"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Lalo </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,824 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 42 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-67"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Valerie </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,824 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2005 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 64 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-68"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Elizabeth </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,741 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q28 <span style="font-size: .83em; vertical-align: super;">(17)</span> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Athena Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-69"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Newyorker </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,635 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Aphrodite Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-70"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Nikolas </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,635 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 65 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-71"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Chloe </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,546 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2012 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 66 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-72"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Maren </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,546 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2014 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q28 <span style="font-size: .83em; vertical-align: super;">(18)</span> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Aris Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-73"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Maira </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,506 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 38 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-74"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Manet <span style="font-size: .83em; vertical-align: super;">(19)</span> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,288 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q26 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 45 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-75"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Kumasi <span style="font-size: .83em; vertical-align: super;">(19)</span> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,220 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2002 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 4Q26 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 41 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-76"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Julie <span style="font-size: .83em; vertical-align: super;">(19)</span> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,207 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2002 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q27 </td> </tr> </table><div>  </div><div style="font-style: italic;"> (1) All subsidiaries are 100% owned, either directly or indirectly; </div><div style="font-style: italic;"> (2) Twenty-foot Equivalent Units; </div><div style="font-style: italic;"> (3) Currently, under a sale and leaseback transaction (see Note 2h); </div><div style="font-style: italic;"> (4) Zim Norfolk and Zim Xiamen were forward extended for 60 – 63 months. The extensions are expected to commence between 2Q-3Q 2027; </div><div style="font-style: italic;"> (5) Sydney Express, Istanbul Express and Bremerhaven Express were delivered in 4Q 2024. Czech, the fourth vessel was delivered on January 9, 2025. Firm charters are followed by three 12-month extension periods at charterer’s option.12-month extension options were exercised in 3Q 2025 for Bremerhaven Express and Sydney Express. 12-month extension options were exercised in 2Q 2026 for Istanbul Express and Czech; </div><div style="font-style: italic;"> (6) MSC Tianjin, MSC Qingdao, Agios Dimitrios and GSL Ningbo were forward fixed for 36 – 38 months with the new charters expected to commence between 3Q-4Q 2027. MSC Qingdao &amp; Agios Dimitrios are fitted with Exhaust Gas Cleaning Systems (“scrubbers”); </div><div style="font-style: italic;"> (7) GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie. Firm charters are followed by one year extension period at charterer’s option. GSL Sofia and GSL Effie options were exercised in January 2025. GSL Alexandra and GSL Lydia options were exercised in February 2025. The vessels were forward fixed for 24 months +/- 30 days. The new charters are expected to commence in 3Q 2026. During 2Q 2026, GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie were further forward fixed for 36 – 38 months plus optional period of 24 – 26 months to commence after drydocking. The new charter (firm period plus two-year option) may be cancelled by charterers at any time up to April 1, 2027; </div><div style="font-style: italic;"> (8) Lotus A, Koi and Cypress. The charters have flexible durations, with latest redeliveries in mid-2030; </div><div style="font-style: italic;"> (9) GSL Eleni, GSL Kalliopi and GSL Grania were forward fixed for 35 – 38 months to commence after drydocking, after which the charterer has the option to extend each charter for a further 12 – 16 months; </div><div style="font-style: italic;"> (10) Colombia Express, Panama Express, Costa Rica Express, Nicaragua Express, Mexico Express, Jamaica Express. Firm charters are followed by two twelve-month extension periods at charterer’s option; </div><div style="font-style: italic;"> (11) Ateti (ex CMA CGM Berlioz) is fixed for 36 – 38 months. The charter commenced in 2Q 2026. On April 25, 2026, CMA CGM Berlioz was renamed to Ateti; </div><div style="font-style: italic;"> (12) GSL Vinia and GSL Christel Elizabeth are chartered for 36 – 40 months, after which the charterer has the option to extend each charter for a further 12 – 15 months; </div><div style="font-style: italic;"> (13) GSL Maria, GSL Violetta, GSL Arcadia, GSL MYNY, GSL Melita, GSL Tegea and GSL Dorothea. Contract cover for each vessel is for a firm period of at least three years from the date each vessel was delivered in 2021. Thereafter, the charterer has the option to extend each charter for a further 12 months, after which they have the option to extend each charter for a second time – for a period concluding immediately prior to each respective vessel’s 25th year drydocking and special survey. The first extension options have been exercised for all seven ships. Second extension options were exercised in January 2025 for GSL Dorothea, GSL Arcadia, GSL Melita and GSL Tegea, in April 2025 for GSL MYNY and in September 2025 for GSL Maria. The vessels were forward fixed for 36 – 38 months. GSL Arcadia, GSL Violetta and GSL MYNY new charters commenced in 1Q 2026. The remaining new charters are expected to commence between 4Q 2026 and 1Q 2027; </div><div style="font-style: italic;"> (14) GSL Château d’If and CMA CGM Alcazar were forward fixed for 36 – 38 months. The new charters are expected to commence between 3Q-4Q 2026; </div><div style="font-style: italic;"> (15) GSL Melina was forward fixed for 35 – 37 months. The new charter is expected to commence in 4Q 2026; </div><div style="font-style: italic;"> (16) Athena I. On June 14, 2026, Athena was renamed to Athena I; </div><div style="font-style: italic;"> (17) GSL Elizabeth was forward fixed for 24 – 27 months. The new charter is expected to commence in 3Q 2026 after drydocking; </div><div style="font-style: italic;"> (18) GSL Maren is fixed in direct continuation for 24 – 26 months. The charter commenced in 2Q 2026; </div><div style="font-style: italic;"> (19) During 2Q 2026, the Company entered into agreements for the forward sales of four ships, Ian H, Manet, Kumasi and Julie, for an aggregate sale price of $65,500. The ships are scheduled to be delivered to buyers upon expiry of their respective charters. </div><div style="text-align: justify;"> The following table provides information about the 15 under construction container vessels owned as at June 30, 2026. </div><div style="text-align: justify;">  </div><table style="border-spacing: 0px; border-collapse: collapse; width: 100%; font-size: 10pt;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 42%;"> </td><td style="width: 26%;"> </td><td style="width: 32%;"> </td></tr><tr style="vertical-align : top; height : 1pt; white-space : nowrap; "> <td style="padding: 0px; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; text-align: center;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Company Name <span style="font-size: .83em; vertical-align: super;">(1)</span></span> </div> </td> <td style="padding: 0px; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; text-align: center;"> <div> <span style="font-weight: bold;">Country of<br/> Incorporation</span> </div> </td> <td style="padding: 0px; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; text-align: center;"> <span style="font-weight: bold;">Expected Delivery</span> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; border-top: 1pt solid black; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 83 LLC </div> </td> <td style="padding: 0px; border-top: 1pt solid black; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-77"> Liberia </div></td> <td style="padding: 0px; border-top: 1pt solid black; vertical-align: middle; text-align: center;"> 4Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 84 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-78"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 93 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-79"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q29 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 85 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-80"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 86 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-81"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q29 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 87 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-82"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 88 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-83"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q29 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 89 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-84"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 4Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 90 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-85"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 4Q29 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 91 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-86"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 4Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 92 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-87"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q30 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 97 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-88"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 98 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-89"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q29 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 99 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-90"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 100 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-91"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q29 </td> </tr> </table><div>  </div><div style="text-align: justify;"> <span style="font-style: italic;">(1) All subsidiaries are 100% owned, either directly or indirectly; </span> </div> 20 1 23 7 6000 12 4 5470 4 8544 123300000 4 9019 9019 273891000 3 9019 3 3 8586 90000000 2 1 4 65500000 15 1329863000 15 71 P18Y4M24D 15 <div style="text-align: justify;"> The following table provides information about the 71 operating container vessels owned as at June 30, 2026.</div><div style="text-align: justify;"> </div><table style="border-spacing: 0px; border-collapse: collapse; margin: auto 0px; font-size: 10pt; width: 100%;"> <tr style="height: 0px; font-size: 0px;"><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 25%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 16%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 20%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 12%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 12%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 15%;"> </td></tr><tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor;"><b>Company Name ⁽¹⁾</b></td> <td style="padding: 0px; vertical-align: middle; text-align: center; border-color: currentcolor black rgb(0, 0, 0); white-space: nowrap; border-bottom-width: 2px; border-bottom-style: solid; border-top-width: medium; border-top-style: none;"> <span style="font-weight: bold;">Country of<br/> Incorporation</span> </td> <td style="padding: 0px; vertical-align: middle; text-align: center; border-color: currentcolor black rgb(0, 0, 0); white-space: nowrap; border-bottom-width: 2px; border-bottom-style: solid; border-top-width: medium; border-top-style: none;"> <span style="font-weight: bold;">Vessel<br/> Name</span> </td> <td style="padding: 0px; vertical-align: middle; text-align: center; border-color: currentcolor black rgb(0, 0, 0); white-space: nowrap; border-bottom-width: 2px; border-bottom-style: solid; border-top-width: medium; border-top-style: none;"> <span style="font-weight: bold;">Capacity in<br/> TEUs </span> <span style="font-size: .83em; vertical-align: super;">(2)</span></td> <td style="padding: 0px; vertical-align: middle; border-color: currentcolor black rgb(0, 0, 0); white-space: nowrap; border-bottom-width: 2px; border-bottom-style: solid; border-top-width: medium; border-top-style: none; text-align: center;"><b>Year<br/> Built</b> </td> <td style="padding: 0px; vertical-align: middle; text-align: center; border-color: currentcolor currentcolor rgb(0, 0, 0) black; white-space: nowrap; border-bottom-width: 2px; border-bottom-style: solid; border-top-width: medium; border-top-style: none; border-right-width: medium; border-right-style: none;"> <span style="font-weight: bold;">Earliest Charter<br/> Expiry Date</span> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle;"> <div> Global Ship Lease 54 LLC </div> </td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-6"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center;"> CMA CGM Thalassa </td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center;"> 11,040 </td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center;"> 2008 </td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center;"> 3Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Laertis Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-7"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Zim Norfolk </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,115 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q32 <span style="font-size: .83em; vertical-align: super;">(4)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Penelope Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-8"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Zim Xiamen </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,115 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q32 <span style="font-size: .83em; vertical-align: super;">(4)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Telemachus Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-9"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Anthea Y </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,115 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q28 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 78 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-10"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Sydney Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,019 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2016 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q27 <span style="font-size: .83em; vertical-align: super;">(5)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 79 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-11"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Istanbul Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,019 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2016 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(5)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 77 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-12"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Bremerhaven Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,019 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q27 <span style="font-size: .83em; vertical-align: super;">(5)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 76 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-13"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Czech </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 9,019 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q28 <span style="font-size: .83em; vertical-align: super;">(5)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 53 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-14"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> MSC Tianjin </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,603 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2005 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q30 <span style="font-size: .83em; vertical-align: super;">(6)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 52 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-15"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> MSC Qingdao </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,603 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q30 <span style="font-size: .83em; vertical-align: super;">(6)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 43 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-16"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Ningbo </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,603 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q30 <span style="font-size: .83em; vertical-align: super;">(6)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 72 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-17"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Alexandra </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,599 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q28 <span style="font-size: .83em; vertical-align: super;">(7)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 73 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-18"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Sofia </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,599 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2003 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q28 <span style="font-size: .83em; vertical-align: super;">(7)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 74 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-19"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Effie </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,599 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2003 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q28 <span style="font-size: .83em; vertical-align: super;">(7)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 75 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-20"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Lydia </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,599 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2003 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(7)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 80 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-21"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Lotus A </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,586 </td> <td style="padding: 0px; vertical-align: middle; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> <div> 2010 </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q26 <span style="font-size: .83em; vertical-align: super;">(8)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 81 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-22"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Koi </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,586 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2011 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q26 <span style="font-size: .83em; vertical-align: super;">(8)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 82 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-23"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Cypress </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 8,586 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2011 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q26 <span style="font-size: .83em; vertical-align: super;">(8)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 30 Limited </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-24"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Eleni </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,847 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q27 <span style="font-size: .83em; vertical-align: super;">(9)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 31 Limited </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-25"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Kalliopi </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,847 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(9)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 32 Limited </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-26"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Grania </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,847 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(9)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Alexander Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-27"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Colombia Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,072 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q28 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Hector Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-28"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Panama Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,072 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Ikaros Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-29"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Costa Rica Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,072 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q29 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Philippos Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-30"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Nicaragua Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,072 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q29 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 48 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-31"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Ateti (ex CMA CGM Berlioz) <span style="font-size: .83em; vertical-align: super;">(11)</span></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 7,023 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> <div>     2Q29 <span style="font-size: .83em; vertical-align: super;">(11)</span></div> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Aristoteles Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-32"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Mexico Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,918 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q29 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Menelaos Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-33"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Jamaica Express </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,918 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2015 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q29 <span style="font-size: .83em; vertical-align: super;">(10)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 35 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-34"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Nicoletta </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,858 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2002 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 36 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-35"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Christen </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,858 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2002 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Leonidas Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-36"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Agios Dimitrios </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,572 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2011 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q30 <span style="font-size: .83em; vertical-align: super;">(6)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 33 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-37"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Vinia </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,080 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(12)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 34 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-38"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Christel Elisabeth </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,080 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2004 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 <span style="font-size: .83em; vertical-align: super;">(12)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Arcadia LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-39"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Arcadia </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,008 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Melita LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-40"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Melita </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,008 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Maria LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-41"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Maria </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,008 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q30 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Violetta LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-42"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Violetta </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,008 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL MYNY LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-43"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL MYNY </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 6,008 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Tegea LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-44"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Tegea </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,994 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Dorothea LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-45"> Liberia </div></td> <td style="padding: 0px; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Dorothea </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,994 </td> <td style="padding: 0px; vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(13)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Drake Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-46"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Ian H <span style="font-size: .83em; vertical-align: super;">(19)</span></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,936 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 68 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-47"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Kithira </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,470 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2009 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 69 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-48"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Tripoli </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,470 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2009 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 70 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-49"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Syros </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,470 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2010 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 71 LLC <span style="font-size: .83em; vertical-align: super;">(3)</span></div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-50"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Tinos </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,470 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2010 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Zeus One Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-51"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Orca I </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,308 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q28 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Hephaestus Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-52"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> Dolphin II </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,095 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2007 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 47 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-53"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Château d’If </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,089 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2007 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(14)</span></td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> GSL Alcazar Inc. </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-54"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> CMA CGM Alcazar </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 5,089 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2007 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q29 <span style="font-size: .83em; vertical-align: super;">(14)</span></td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 55 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-55"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Susan </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4,363 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2008 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 50 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-56"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> CMA CGM Jamaica </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4,298 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 49 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-57"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> CMA CGM Sambhar </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4,045 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 51 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-58"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> CMA CGM America </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 4,045 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 57 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-59"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Rossi </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3,421 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2012 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 1Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 58 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-60"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Alice </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3,421 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2014 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> <div> Global Ship Lease 60 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-61"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> GSL Eleftheria </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3,421 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor; text-align: center;"> 3Q28 </td> </tr> </table><table style="border-spacing: 0px; border-collapse: collapse; font-size: 10pt; width: 100%;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 25%;"> </td><td style="width: 16%;"> </td><td style="width: 20%;"> </td><td style="width: 12%;"> </td><td style="width: 12%;"> </td><td style="width: 15%;"> </td></tr><tr style="vertical-align : top; height : 1pt; white-space : nowrap; "> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); border-top-color: currentcolor; border-right-color: black; border-left-color: currentcolor; text-align: center; border-top-width: medium; border-top-style: none; border-left-width: medium; border-left-style: none; vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Company Name <span style="font-size: 0.83em;">⁽¹⁾</span></span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); border-top-color: currentcolor; border-right-color: black; border-left-color: black; text-align: center; border-top-width: medium; border-top-style: none; vertical-align: bottom;"> <div> <span style="font-weight: bold;">Country of<br/> </span> </div> <div> <span style="font-weight: bold;">Incorporation</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; vertical-align: bottom;"> <span style="font-weight: bold;">Vessel<br/> Name</span> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; vertical-align: bottom;"> <div> <span style="font-weight: bold;">Capacity<br/></span> </div> <span style="font-weight: bold;">in TEUs </span> <span style="font-size: 0.83em;">⁽²⁾</span></td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; vertical-align: bottom;"> <span style="font-weight: bold;">Year <br/>Built</span> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; vertical-align: bottom;"> <span style="font-weight: bold;">Earliest Charter<br/> Expiry Date </span> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 59 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-62"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Melina </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3,421 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2013 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 4Q29 <span style="font-size: .83em; vertical-align: super;">(15)</span> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Pericles Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-63"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Athena I (ex Athena) </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,980 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2003 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q27 <span style="font-size: .83em; vertical-align: super;">(16)</span> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 61 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-64"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Mercer </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,824 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2007 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 62 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-65"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Mamitsa </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,824 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2007 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q28 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 63 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-66"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Lalo </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,824 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 42 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-67"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Valerie </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,824 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2005 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 64 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-68"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Elizabeth </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,741 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2006 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q28 <span style="font-size: .83em; vertical-align: super;">(17)</span> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Athena Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-69"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Newyorker </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,635 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Aphrodite Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-70"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Nikolas </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,635 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q27 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 65 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-71"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Chloe </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,546 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2012 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 66 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-72"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> GSL Maren </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,546 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2014 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q28 <span style="font-size: .83em; vertical-align: super;">(18)</span> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Aris Marine LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-73"> Marshall Islands </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Maira </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,506 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2000 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q27 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 38 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-74"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Manet <span style="font-size: .83em; vertical-align: super;">(19)</span> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,288 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2001 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q26 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 45 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-75"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Kumasi <span style="font-size: .83em; vertical-align: super;">(19)</span> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,220 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2002 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 4Q26 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 41 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-76"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> Julie <span style="font-size: .83em; vertical-align: super;">(19)</span> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2,207 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2002 </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q27 </td> </tr> </table><div>  </div><div style="font-style: italic;"> (1) All subsidiaries are 100% owned, either directly or indirectly; </div><div style="font-style: italic;"> (2) Twenty-foot Equivalent Units; </div><div style="font-style: italic;"> (3) Currently, under a sale and leaseback transaction (see Note 2h); </div><div style="font-style: italic;"> (4) Zim Norfolk and Zim Xiamen were forward extended for 60 – 63 months. The extensions are expected to commence between 2Q-3Q 2027; </div><div style="font-style: italic;"> (5) Sydney Express, Istanbul Express and Bremerhaven Express were delivered in 4Q 2024. Czech, the fourth vessel was delivered on January 9, 2025. Firm charters are followed by three 12-month extension periods at charterer’s option.12-month extension options were exercised in 3Q 2025 for Bremerhaven Express and Sydney Express. 12-month extension options were exercised in 2Q 2026 for Istanbul Express and Czech; </div><div style="font-style: italic;"> (6) MSC Tianjin, MSC Qingdao, Agios Dimitrios and GSL Ningbo were forward fixed for 36 – 38 months with the new charters expected to commence between 3Q-4Q 2027. MSC Qingdao &amp; Agios Dimitrios are fitted with Exhaust Gas Cleaning Systems (“scrubbers”); </div><div style="font-style: italic;"> (7) GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie. Firm charters are followed by one year extension period at charterer’s option. GSL Sofia and GSL Effie options were exercised in January 2025. GSL Alexandra and GSL Lydia options were exercised in February 2025. The vessels were forward fixed for 24 months +/- 30 days. The new charters are expected to commence in 3Q 2026. During 2Q 2026, GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie were further forward fixed for 36 – 38 months plus optional period of 24 – 26 months to commence after drydocking. The new charter (firm period plus two-year option) may be cancelled by charterers at any time up to April 1, 2027; </div><div style="font-style: italic;"> (8) Lotus A, Koi and Cypress. The charters have flexible durations, with latest redeliveries in mid-2030; </div><div style="font-style: italic;"> (9) GSL Eleni, GSL Kalliopi and GSL Grania were forward fixed for 35 – 38 months to commence after drydocking, after which the charterer has the option to extend each charter for a further 12 – 16 months; </div><div style="font-style: italic;"> (10) Colombia Express, Panama Express, Costa Rica Express, Nicaragua Express, Mexico Express, Jamaica Express. Firm charters are followed by two twelve-month extension periods at charterer’s option; </div><div style="font-style: italic;"> (11) Ateti (ex CMA CGM Berlioz) is fixed for 36 – 38 months. The charter commenced in 2Q 2026. On April 25, 2026, CMA CGM Berlioz was renamed to Ateti; </div><div style="font-style: italic;"> (12) GSL Vinia and GSL Christel Elizabeth are chartered for 36 – 40 months, after which the charterer has the option to extend each charter for a further 12 – 15 months; </div><div style="font-style: italic;"> (13) GSL Maria, GSL Violetta, GSL Arcadia, GSL MYNY, GSL Melita, GSL Tegea and GSL Dorothea. Contract cover for each vessel is for a firm period of at least three years from the date each vessel was delivered in 2021. Thereafter, the charterer has the option to extend each charter for a further 12 months, after which they have the option to extend each charter for a second time – for a period concluding immediately prior to each respective vessel’s 25th year drydocking and special survey. The first extension options have been exercised for all seven ships. Second extension options were exercised in January 2025 for GSL Dorothea, GSL Arcadia, GSL Melita and GSL Tegea, in April 2025 for GSL MYNY and in September 2025 for GSL Maria. The vessels were forward fixed for 36 – 38 months. GSL Arcadia, GSL Violetta and GSL MYNY new charters commenced in 1Q 2026. The remaining new charters are expected to commence between 4Q 2026 and 1Q 2027; </div><div style="font-style: italic;"> (14) GSL Château d’If and CMA CGM Alcazar were forward fixed for 36 – 38 months. The new charters are expected to commence between 3Q-4Q 2026; </div><div style="font-style: italic;"> (15) GSL Melina was forward fixed for 35 – 37 months. The new charter is expected to commence in 4Q 2026; </div><div style="font-style: italic;"> (16) Athena I. On June 14, 2026, Athena was renamed to Athena I; </div><div style="font-style: italic;"> (17) GSL Elizabeth was forward fixed for 24 – 27 months. The new charter is expected to commence in 3Q 2026 after drydocking; </div><div style="font-style: italic;"> (18) GSL Maren is fixed in direct continuation for 24 – 26 months. The charter commenced in 2Q 2026; </div><div style="font-style: italic;"> (19) During 2Q 2026, the Company entered into agreements for the forward sales of four ships, Ian H, Manet, Kumasi and Julie, for an aggregate sale price of $65,500. The ships are scheduled to be delivered to buyers upon expiry of their respective charters. </div><div style="text-align: justify;"> The following table provides information about the 15 under construction container vessels owned as at June 30, 2026. </div><div style="text-align: justify;">  </div><table style="border-spacing: 0px; border-collapse: collapse; width: 100%; font-size: 10pt;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 42%;"> </td><td style="width: 26%;"> </td><td style="width: 32%;"> </td></tr><tr style="vertical-align : top; height : 1pt; white-space : nowrap; "> <td style="padding: 0px; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; text-align: center;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Company Name <span style="font-size: .83em; vertical-align: super;">(1)</span></span> </div> </td> <td style="padding: 0px; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; text-align: center;"> <div> <span style="font-weight: bold;">Country of<br/> Incorporation</span> </div> </td> <td style="padding: 0px; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; text-align: center;"> <span style="font-weight: bold;">Expected Delivery</span> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; border-top: 1pt solid black; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 83 LLC </div> </td> <td style="padding: 0px; border-top: 1pt solid black; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-77"> Liberia </div></td> <td style="padding: 0px; border-top: 1pt solid black; vertical-align: middle; text-align: center;"> 4Q28 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 84 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-78"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 93 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-79"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q29 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 85 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-80"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 86 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-81"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q29 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 87 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-82"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 88 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-83"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 3Q29 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 89 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-84"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 4Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 90 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-85"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 4Q29 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 91 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-86"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 4Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 92 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-87"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q30 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 97 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-88"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 98 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-89"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 1Q29 </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 99 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-90"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q29 </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 236, 255);"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Global Ship Lease 100 LLC </div> </td> <td style="padding: 0px; vertical-align: middle; text-align: center;"><div style="-sec-ix-hidden: hidden-fact-91"> Liberia </div></td> <td style="padding: 0px; vertical-align: middle; text-align: center;"> 2Q29 </td> </tr> </table><div>  </div><div style="text-align: justify;"> <span style="font-style: italic;">(1) All subsidiaries are 100% owned, either directly or indirectly; </span> </div> CMA CGM Thalassa 11040 2008 3Q28 Zim Norfolk 9115 2015 2Q32 (4) Zim Xiamen 9115 2015 3Q32 (4) Anthea Y 9115 2015 4Q28 Sydney Express 9019 2016 3Q27 (5) Istanbul Express 9019 2016 1Q28 (5) Bremerhaven Express 9019 2015 2Q27 (5) Czech 9019 2015 2Q28 (5) MSC Tianjin 8603 2005 3Q30 (6) MSC Qingdao 8603 2004 4Q30 (6) GSL Ningbo 8603 2004 3Q30 (6) GSL Alexandra 8599 2004 3Q28 (7) GSL Sofia 8599 2003 2Q28 (7) GSL Effie 8599 2003 3Q28 (7) GSL Lydia 8599 2003 1Q28 (7) Lotus A 8586 2010 4Q26 (8) Koi 8586 2011 4Q26 (8) Cypress 8586 2011 4Q26 (8) GSL Eleni 7847 2004 4Q27 (9) GSL Kalliopi 7847 2004 1Q28 (9) GSL Grania 7847 2004 1Q28 (9) Colombia Express 7072 2013 4Q28 (10) Panama Express 7072 2013 4Q29 (10) Costa Rica Express 7072 2013 2Q29 (10) Nicaragua Express 7072 2013 3Q29 (10) Ateti (ex CMA CGM Berlioz) (11) 7023 2001 2Q29 (11) Mexico Express 6918 2015 3Q29 (10) Jamaica Express 6918 2015 3Q29 (10) GSL Nicoletta 6858 2002 1Q28 GSL Christen 6858 2002 4Q27 Agios Dimitrios 6572 2011 3Q30 (6) GSL Vinia 6080 2004 1Q28 (12) GSL Christel Elisabeth 6080 2004 1Q28 (12) GSL Arcadia 6008 2000 1Q29 (13) GSL Melita 6008 2001 4Q29 (13) GSL Maria 6008 2001 1Q30 (13) GSL Violetta 6008 2000 1Q29 (13) GSL MYNY 6008 2000 1Q29 (13) GSL Tegea 5994 2001 4Q29 (13) GSL Dorothea 5994 2001 4Q29 (13) Ian H (19) 5936 2000 4Q27 GSL Kithira 5470 2009 4Q27 GSL Tripoli 5470 2009 3Q27 GSL Syros 5470 2010 4Q27 GSL Tinos 5470 2010 3Q27 Orca I 5308 2006 3Q28 Dolphin II 5095 2007 1Q28 GSL Château d’If 5089 2007 4Q29 (14) CMA CGM Alcazar 5089 2007 3Q29 (14) GSL Susan 4363 2008 3Q27 CMA CGM Jamaica 4298 2006 1Q28 CMA CGM Sambhar 4045 2006 1Q28 CMA CGM America 4045 2006 1Q28 GSL Rossi 3421 2012 1Q29 GSL Alice 3421 2014 2Q28 GSL Eleftheria 3421 2013 3Q28 GSL Melina 3421 2013 4Q29 (15) Athena I (ex Athena) 2980 2003 2Q27 (16) GSL Mercer 2824 2007 1Q27 GSL Mamitsa 2824 2007 1Q28 GSL Lalo 2824 2006 2Q27 GSL Valerie 2824 2005 2Q27 GSL Elizabeth 2741 2006 3Q28 (17) Newyorker 2635 2001 2Q27 Nikolas 2635 2000 1Q27 GSL Chloe 2546 2012 1Q27 GSL Maren 2546 2014 2Q28 (18) Maira 2506 2000 1Q27 Manet (19) 2288 2001 3Q26 Kumasi (19) 2220 2002 4Q26 Julie (19) 2207 2002 3Q27 1 P60M P63M 3 P12M P12M P12M P36M P38M P1Y P24M P30D P36M P38M P24M P26M P2Y P35M P38M P12M P16M 2 P12M P36M P38M P36M P40M P12M P15M P12M 7 P36M P38M P36M P38M P35M P37M P24M P27M P24M P26M 4 65500000 4Q28 2Q29 3Q29 2Q29 3Q29 3Q29 3Q29 4Q29 4Q29 4Q29 1Q30 1Q29 1Q29 2Q29 2Q29 1 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(a)</span> </div> <div style="text-indent: -51px; padding-left: 51px;"> <span style="font-weight: bold;">Basis of Presentation</span></div></div><div style="text-indent: -36pt; padding-left: 36pt;">  </div><div style="text-align: justify; clear: both;"> The accompanying financial information is unaudited and reflects all adjustments, consisting solely of normal recurring adjustments, which, in the opinion of management, are necessary for a fair statement of financial position and results of operations for the periods presented. The financial information does not include all disclosures required under United States Generally Accepted Accounting Principles (“U.S. GAAP”) for annual financial statements. These interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements as of December 31, 2025, filed with the Securities and Exchange Commission on March 16, 2026 in the Company’s Annual Report on Form 20-F. </div><div>  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(b)</span> </div> <div> <span style="font-weight: bold;"> Principles of Consolidation</span> </div> </div><div style="clear: both;">  </div><div style="text-align: justify;"> The accompanying interim unaudited condensed consolidated financial information include the financial statements of the Company and its wholly owned subsidiaries; the Company has no other interests. All significant intercompany balances and transactions have been eliminated in the Company’s interim unaudited condensed consolidated financial statements. </div><div>  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(c)</span> </div> <div> <span style="font-weight: bold;">Use of estimates</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> The preparation of interim unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions and/or conditions. </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(d)</span> </div> <div> <span style="font-weight: bold;">Vessels in operation</span> </div> </div><div style="margin-left: 36pt; clear: both;">  </div><div style="text-align: justify;"> Vessels are generally recorded at their historical cost, which consists of the acquisition price and any material expenses incurred upon acquisition, adjusted for the fair value of intangible assets or liabilities associated with above or below market charters attached to the vessels at acquisition. See Intangible Assets and Liabilities at Note 2(f) below. Vessels under construction by the Company are stated at historical cost, comprising the contract price and pre-delivery expenses e.g. capitalised interest, and material acquisition-related costs, including improvements and other expenses. Vessels acquired in a corporate transaction accounted for as an asset acquisition are stated at the acquisition price, which consists of consideration paid, plus transaction costs, considering pro rata allocation based on vessels fair value at the acquisition date. Vessels acquired in a corporate transaction accounted for as a business combination are recorded at fair value. Vessels acquired as part of the Marathon Merger in 2008 were accounted for under ASC 805, which required that the vessels be recorded at fair value, less the negative goodwill arising as a result of the accounting for the merger. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Subsequent expenditures for major improvements and upgrades are capitalized, provided they appreciably extend the life, increase the earnings capacity or improve the efficiency or safety of the vessels. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Borrowing costs incurred during the construction of vessels or as part of the prefinancing of the acquisition of vessels are capitalized. There was no capitalized interest for the six months ended June 30, 2026, and 2025. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Vessels are stated less accumulated depreciation and impairment, if applicable. Vessels are depreciated to their estimated residual value using the straight-line method over their estimated useful lives which are reviewed on an ongoing basis to ensure they reflect current technology, service potential and vessel structure. The useful lives are estimated to be 30 years from original delivery by the shipyard. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Management estimates the residual values of the Company’s container vessels based on a scrap value cost of steel times the weight of the vessel noted in lightweight tons (LWT). Residual values are periodically reviewed and revised to recognize changes in conditions, new regulations or other reasons. Revision of residual values affect the depreciable amount of the vessels and affects depreciation expense in the period of the revision and future periods. Management estimated the residual values of its vessels based on scrap rate of $400 per LWT. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The cost and related accumulated depreciation of assets retired or sold are removed from the accounts at the time of sale or retirement and any gain or loss is included in the interim unaudited condensed Consolidated Statements of Income. </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; text-align: justify; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(e)</span> </div> <div> <span style="font-weight: bold;">Assets Held for Sale</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> The Company classifies assets and disposal groups as being held for sale when the following criteria are met: management has committed to a plan to sell the asset (disposal group); the asset (disposal group) is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated; the sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within one year; the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets or disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These assets are not depreciated once they meet the criteria to be held for sale. As of June 30, 2026, Ian H, Manet, Kumasi and Julie, which were agreed to be sold for an aggregate sale price $65,500, did not meet the criteria as held for sale. The ships are scheduled to be delivered to buyers upon expiry of their respective charters. </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(f)</span> </div> <div> <span style="font-weight: bold;">Intangible assets and liabilities – charter agreements</span> </div> </div><div style="margin-left: 36pt; clear: both;">  </div><div style="text-align: justify;"> The Company’s intangible assets and liabilities consist of unfavorable lease terms on charter agreements acquired in assets acquisitions. When intangible assets or liabilities associated with the acquisition of a vessel are identified, they are recorded at fair value. Fair value is determined by reference to market data and the discounted amount of expected future cash flows. Where charter rates are higher than market charter rates, an intangible asset is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel and equivalent duration of charter party at the date the vessel is delivered. Where charter rates are less than market charter rates, an intangible liability is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel. The determination of the fair value of acquired assets and liabilities requires the Company to make significant assumptions and estimates of many variables including market charter rates (including duration), the level of utilization of its vessels and its weighted average cost-of capital. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The estimated market charter rate (including duration) is considered a significant assumption. The use of different assumptions could result in a material change in the fair value of these items, which could have a material impact on the Company’s financial position and results of operations. The amortizable value of favorable and unfavorable leases is amortized over the remaining life of the relevant lease term and the amortization expense or income respectively is included under the caption “Amortization of intangible liabilities-charter agreements” in the interim unaudited condensed Consolidated Statements of Income. For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts. </div><div>  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(g)</span> </div> <div> <span style="font-weight: bold;">Impairment of Long-lived assets</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> Tangible fixed assets, such as vessels, that are held and used or to be disposed of by the Company are reviewed for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. In these circumstances, the Company performs step one of the impairment test by comparing the undiscounted projected net operating cash flows for each vessel group to its carrying value. A vessel group comprises the vessel, the unamortized portion of deferred drydocking related to the vessel and the related carrying value of the intangible asset or liability (if any) with respect to the time charter attached to the vessel at its purchase. If the undiscounted projected net operating cash flows of the vessel group are less than its carrying amount, management proceeds to step two of the impairment assessment by comparing the vessel group’s carrying amount to its fair value, including any applicable charter, and an impairment loss is recorded equal to the difference between the vessel group’s carrying value and fair value. Fair value is determined with the assistance from valuations obtained from third party independent ship brokers. For the deposits for vessels under construction, the net cash flows also include the future cash out flows to make vessels ready for use, all remaining progress payments to shipyards and pre-delivery expenses. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The Company uses a number of assumptions in projecting its undiscounted net operating cash flows analysis including, among others, (i) revenue assumptions for charter rates on expiry of existing charters, which are based on forecast charter rates, where relevant, in the four years from the date of the impairment test and a reversion to the historical mean of time charter rates for each vessel thereafter, (ii) off-hire days, which are based on actual off-hire statistics for the Company’s fleet, (iii) operating costs, based on current levels escalated over time based on long term trends, (iv) dry docking frequency, duration and cost, (v) estimated useful life, which is assessed as a total of 30 years from original delivery by the shipyard and (vi) scrap values. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Revenue assumptions are based on contracted charter rates up to the end of the existing contract of each vessel, and thereafter, estimated time charter rates for the remaining life of the vessel. The estimated time charter rate used for non-contracted revenue days of each vessel is considered a significant assumption. Recognizing that the container shipping industry is cyclical and subject to significant volatility based on factors beyond the Company’s control, management believes that using forecast charter rates in the four years from the date of the impairment assessment and a reversion to the historical mean of time charter rates thereafter, represents a reasonable benchmark for the estimated time charter rates for the non-contracted revenue days, and takes into account the volatility and cyclicality of the market. </div><div style="text-align: justify;"> During the six months ended June 30, 2026, the Company evaluated the impact of the current economic environment and other relevant events and circumstances on the recoverability of all its vessel groups. For the Company’s vessel groups other than the four vessels discussed below, the Company determined that there were no events or changes in circumstances indicating that their carrying amounts may not be recoverable. During the six months ended June 30, 2026, the Company entered into agreements to sell four vessels to third parties, with delivery expected after completion of their existing charter parties. Although these vessels were not classified as held for sale as of June 30, 2026, the expected disposal before the end of their previously estimated useful lives was considered a triggering event under ASC 360. The Company performed a recoverability assessment and concluded that no impairment loss was required. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During the six months ended June 30, 2025, the Company evaluated the impact of current economic situation on the recoverability of all its vessel groups and has determined that there were no events or changes in circumstances which indicated that their carrying amounts may not be recoverable. Accordingly, there was no triggering event, and no impairment test was performed for the six months ended June 30, 2025. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Through the latter part of 2025, the Company noted that events and circumstances triggered the existence of potential impairment for some of Company’s vessel groups. These indicators included the potential impact of the current container sector on management’s expectation for future revenues, as well as some volatility in the charter market and the vessels’ market values. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was not required for any vessel group, as their undiscounted projected net operating cash flows exceeded their carrying value. Accordingly, no impairment recorded for the year ended December 31, 2025. </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(h)</span> </div> <div> <span style="font-weight: bold;">Revenue recognition and related expense</span> </div> </div><div style="clear: both;">  </div><div style="text-align: justify;"> The Company charters out its vessels on time charters which involves placing a vessel at a charterer’s disposal for a specified period of time during which the charterer uses the vessel in return for the payment of a specified daily hire rate. Such charters are accounted for as operating leases and therefore revenue is recognized on a straight-line basis as the average revenues over the rental periods of such charter agreements, as service is performed. Cash received in excess of earned revenue is recorded as deferred revenue. If a time charter contains one or more consecutive option periods, then subject to the options being exercisable solely by the Company, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter, including any options which are more likely than not to be exercised. If a time charter is modified, including the agreement of a direct continuation at a different rate, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter from the date of modification, adjusted for any prepaid or accrued balance from the original lease, generally on a straight-line basis over the new lease term (the remaining balance from the original lease, adjusted for the additional or terminated periods). During the six-month periods ended June 30, 2026, and 2025, an amount of $4,425 and $2,738 loss, respectively, has been recorded in time charter-revenues for such modifications and revenues recognized on a straight-line basis. Any difference between the charter rate invoiced and the time charter revenue recognized is classified as, or released from, deferred revenue. As of June 30, 2026, current and non-current portion from implementing the straight-line basis, amounting to $9,807 ($12,643 as of December 31, 2025) and $8,079 ($10,344 as of December 31, 2025), respectively, are presented in the interim unaudited condensed Consolidated Balance Sheets in the line item “Prepaid expenses and other current assets” and “Other non-current assets”, respectively. As of June 30, 2026, current liability and non-current liability from implementing the straight-line basis, amounting to $4,770 ($8,624 as of December 31, 2025) and $6,968 ($3,797 as of December 31, 2025), are presented in the interim unaudited condensed Consolidated Balance Sheets in the line item “Current portion of deferred revenue” and “Deferred revenue, net of current portion”, respectively.</div><div style="text-align: justify;"> </div><div style="text-align: justify;"> Revenues are recorded net of address commissions, which represent a discount provided directly to the charterer based on a fixed percentage of the agreed upon charter rate. Charter revenue received in advance which relates to the period after a balance sheet date is recorded as deferred revenue within current liabilities until the respective charter services are rendered. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Under time charter arrangements, the Company, as owner, is responsible for all the operating expenses of the vessels, such as crew costs, insurance, repairs and maintenance, and such costs are expensed as incurred and are included in vessel operating expenses. </div><div style="text-align: justify;"> Commission paid to brokers to facilitate the agreement of a new charter are included in time charter and voyage expenses as are certain expenses related to a voyage, such as the costs of bunker fuel consumed when a vessel is off-hire or idle. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Leases:</span> In cases of lease agreements where the Company acts as the lessee, the Company recognizes an operating lease asset and a corresponding lease liability on the interim unaudited condensed Consolidated Balance Sheets. Following initial recognition and with regards to subsequent measurement the Company remeasures lease liability and right of use asset at each reporting date. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Leases where the Company acts as the lessor are classified as either operating or sales-type / direct financing leases. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In cases of lease agreements where the Company acts as the lessor under an operating lease, the Company keeps the underlying asset on the interim unaudited condensed Consolidated Balance Sheets and continues to depreciate the assets over its useful life. In cases of lease agreements where the Company acts as the lessor under a sales-type / direct financing lease, the Company derecognizes the underlying asset and records a net investment in the lease. The Company acts as a lessor under operating leases in connection with all of its charter out -bareboat- out arrangements. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In cases of sale and leaseback transactions, if the transfer of the asset to the lessor does not qualify as a sale, then the transaction constitutes a failed sale and leaseback and is accounted for as a financial liability. For a sale to have occurred, the control of the asset would need to be transferred to the lessor, and the lessor would need to obtain substantially all the benefits from the use of the asset. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The Company elected the practical expedient which allows the Company to treat the lease and non-lease components as a single lease component for the leases where the timing and pattern of transfer for the non-lease component and the associated lease component to the lessees are the same and the lease component, if accounted for separately, would be classified as an operating lease. The combined component is therefore accounted for as an operating lease under ASC 842, as the lease components are the predominant characteristics. </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(i)</span> </div> <div> <span style="font-weight: bold;">Segment Reporting</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> The Company derives its revenues from chartering vessels to liner companies. The Company reports financial information and evaluates its operations by charter revenues and not by the length of ship employment for its customers. The Company does not use discrete financial information to evaluate operating results for each vessel or type of charter. Management does not identify expenses, profitability or other financial information by vessel or charter type. The Company’s Executive Chairman, Chief Executive Officer and Chief Financial Officer, collectively, who are the Chief Operating Decision Maker ("CODM"), review operating results solely by revenue per day and consolidated net income of the fleet and thus the Company has determined that it operates under one operating and reportable segment. Consolidated vessel operating expense information presented within the interim unaudited condensed Consolidated Statements of Income is considered to be significant expenses. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide, subject to restrictions as per the charter agreement, and, as a result, the disclosure of geographic information is impracticable. </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(j)</span> </div> <div> <span style="font-weight: bold;">Fair Value Measurement and Financial Instruments</span> </div> </div><div style="margin-left: 36pt; clear: both;">  </div><div style="text-align: justify;"> Financial instruments carried on the interim unaudited condensed Consolidated Balance Sheets include cash and cash equivalents, restricted cash and other instruments, time deposits, trade receivables and payables, other receivables and other liabilities, amounts due to/from related parties, derivatives and long-term debt. The particular recognition methods applicable to each class of financial instrument are disclosed in the applicable significant policy description of each item or included below as applicable. </div><div style="text-align: justify;"> <span style="font-weight: bold; font-style: italic;">Fair value measurement:</span> Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The hierarchy is broken down into three levels based on the observability of inputs as follows: </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Level 1 - </span>Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Level 2 - </span>Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Level 3 - </span>Valuations based on inputs that are unobservable and significant to the overall fair value measurement. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Fair value of assets and liabilities</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The following methods and assumptions were used to estimate the fair value of each class of financial instrument: </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Cash and cash equivalents, restricted cash and other instruments, time deposits, amounts due to/from related parties:</span> The carrying amounts reported in the interim unaudited condensed Consolidated Balance Sheets for these balances approximate their fair value because of the short maturity or short-term nature of these balances. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Long-term debt, including current portion, ne</span>t: The carrying value of our long-term bank loans and sale and leaseback agreements continues to approximate its fair value generally due to their variable interest rates. The carrying value has been adjusted to reflect the net presentation of deferred finance costs. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The estimated fair values of the Company’s financial instruments are as follows: </div><div style="text-align: justify;"> </div><table cellpadding="0" style="font-size: 10pt; width: 100%; border-spacing: 0px;" width="618"> <tr style="height: 0px; font-size: 0px;"><td style="width: 52%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td></tr><tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes;page-break-inside:avoid; height:1.0pt"> <td style="height: 1pt;" valign="bottom"> </td> <td valign="bottom"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt;" valign="bottom"> </td> <td colspan="5" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt; text-align: center;" valign="bottom"> <div style="margin: 0in;"><b><span style="mso-spacerun:yes">  </span>June 30, 2026</b></div> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; border-image: none; text-align: center;" valign="bottom"> </td> <td style="text-align: center;" valign="bottom"> </td><td style="height: 1pt; text-align: center; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="5" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt; text-align: center;" valign="bottom"> <div style="margin: 0in;"><b>December 31, 2025</b></div> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; border-image: none; text-align: center;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:1;page-break-inside:avoid;height:1.0pt"> <td style="height: 1pt; border-width: medium; border-style: none; border-color: currentcolor;" valign="bottom"> </td> <td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" valign="bottom"> </td><td style="height: 1pt; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Book Value</b></div> </td><td style="border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td><td style="height: 1pt; text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Fair Value</b></div> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" valign="bottom"> </td> <td style="text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt; text-align: right;" valign="bottom"> </td> <td colspan="2" style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Book Value</b></div> </td> <td style="text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td><td style="height: 1pt; text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Fair Value</b></div> </td><td style="border-width: medium; border-style: none; border-color: currentcolor;" valign="bottom"> </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td valign="bottom"> <div>Cash and cash equivalents</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">388,599</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">388,599</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">273,876</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">273,876</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:3;page-break-inside:avoid;height:1.0pt"> <td valign="bottom"> <div>Time deposits</div> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">110,450</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">110,450</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">199,100</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">199,100</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td valign="bottom"> <div>Restricted cash and other instruments</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">149,990</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">149,990</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">164,120</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">164,120</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:5;page-break-inside:avoid;height:1.0pt"> <td style="vertical-align: bottom;" valign="bottom"> <div>Derivative assets and other financial instruments</div> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">22,954</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">22,954</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">5,234</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">5,234</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td valign="bottom"> <div>Due from related parties</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-92">1,309</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-93">1,309</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-94">148</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-95">148</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:7;page-break-inside:avoid;height:1.0pt"> <td valign="bottom"> <div>Due to related parties</div> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-96">(740</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-97">(740</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-98">(692</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-99">(692</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;" valign="bottom"> <div>Credit facilities and financial liabilities, including current portion, net</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(671,764</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(676,425</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(689,142</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(694,709</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> </tr> </table><div style="text-align: justify;"> </div><table cellpadding="0" style="font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 52%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom;"> </td> <td colspan="13" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Fair Value Measurements as at June 30, 2026</span> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: bottom; text-align: center;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Total</span> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level I</span> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level II</span> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level III</span> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Cash and cash equivalents </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">388,599</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">388,599</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Time deposits </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">110,450</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">110,450</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Restricted cash and other instruments </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">149,990</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">149,990</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Derivative assets and other financial instruments</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">22,954</td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">22,954</td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Due from related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-100">1,309</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-101">1,309</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-102"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-103"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Due to related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-104">(740</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-105">(740</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-106"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-107"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Credit facilities and financial liabilities, including current portion, net</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(676,425</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(676,425</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> </table><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 52%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; width: 1%;"> </td> <td colspan="13" style="vertical-align: bottom; text-align: center; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap;"> <span style="font-weight: bold;">Fair Value Measurements as at December 31, 2025</span> </td><td style="vertical-align: bottom; text-align: center; border-width: medium; border-style: none; border-color: currentcolor; white-space: nowrap; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Total</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level I</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center; width: 1%; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level II</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level III</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Cash and cash equivalents </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">273,876</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">273,876</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Time deposits </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">199,100</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">199,100</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Restricted cash and other instruments </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">164,120</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">164,120</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Derivative assets and other financial instruments</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">5,234</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">5,234</td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Due from related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-108">148</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-109">148</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-110"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-111"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Due to related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-112">(692</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-113">(692</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-114"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-115">          - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Credit facilities and financial liabilities, including current portion, net</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(694,709</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(694,709</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> </table><div style="text-align: justify;">  </div><div style="text-align: justify;"> In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $484,106, which amortizes over time as the Company’s outstanding debt balances decline. In February 2022, the Company further hedged its exposure by putting in place two USD one-month <span style="-sec-ix-hidden: hidden-fact-116">LIBOR</span> interest rate caps of 0.75% through fourth quarter 2026, on $507,891 of its floating rate debt. The second-interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $1,113 as of June 30, 2026, was recorded through interim unaudited condensed Consolidated Statements of Income ($2,831 negative fair value adjustment for June 30, 2025). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. The Company is designating certain future interest payments on its outstanding variable-rate debt as the hedged item in this relationship. Under ASC 815-20-25-106e, “for cash flow hedges of the interest payments on only a portion of the principal amount of the interest-bearing asset or liability, the notional amount of the interest rate cap designated as the hedging instrument matches the principal amount of the portion of the asset or liability on which the hedged interest payments are based”. In this case, the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged. During 2023, all Company’s loan agreements have been amended and restated to take into effect the transition from <span style="-sec-ix-hidden: hidden-fact-117">LIBOR</span> to the Secured Overnight Financing Rate (“SOFR”) and the relevant provisions on a replacement rate. In addition, the Company’s interest rate caps automatically transited to 1-month Compounded <span style="-sec-ix-hidden: hidden-fact-118">SOFR</span> on July 1, 2023, at a level of 0.64%. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The Company assesses the effectiveness of the hedges on an ongoing basis. The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The objective of the hedges is to reduce the variability of cash flows associated with the interest rates relating to the Company’s variable rate borrowings. When derivatives are used, the Company is exposed to credit loss in the event of non-performance by the counterparties; however, non-performance is not anticipated. ASC 815, <span style="font-style: italic;">Derivatives and Hedging</span>, requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the balance sheet. The fair values of the interest rate derivatives are based on quoted market prices for similar instruments from commercial banks (based on significant observable inputs – Level 2 inputs). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On April 4, 2024, the Company entered into a foreign exchange option strip (“FX option”) to purchase €3,000, with monthly settlements, starting April 11, 2024, and ended March 13, 2025. The strike price was EUR/USD 1.10. The Company entered to this option to hedge the downside foreign exchange risk associated with expenses denominated in EUR against fluctuations between the US Dollar and Euro. This FX option was designated as a cash flow hedge of anticipated expenses totalling €3,000, expected to occur each month. Changes in the fair value of the option other than “intrinsic value” were excluded from the assessment of effectiveness. The effectiveness of the hedging relationship was periodically assessed during the life of the hedge by comparing the terms of the option and the forecasted expenses to ensure that they continued to coincide. Should the critical terms no longer matched exactly, hedge effectiveness (both prospective and retrospective) was assessed by evaluating the dollar-offset ratio of the spot intrinsic value of the actual option contract and a hypothetically perfect option contract. </div><div style="text-align: justify;"> In January 2026, the Company entered into a series of FX Reverse Convertible transactions for a total amount of $33,000. These instruments are USD-denominated structured notes with returns linked to the EUR/USD exchange rate. Each instrument has a fixed coupon payable at maturity, is USD capital protected and is subject to potential principal conversion into EUR if the EUR/USD exchange rate falls below the specified strike. Each instrument is a hybrid financial instrument with an embedded foreign exchange option. The Company has elected the Fair Value Option under ASC 825 for these structured instruments. As of June 30, 2026, $12,000 of the FX Reverse Convertible instruments have matured. Under the fair value option, as of June 30, 2026, the instruments are presented as assets measured at fair value amounting to $20,986 ($nil as of December 31, 2025) in the interim unaudited condensed Consolidated Balance Sheets in the line item “Derivative assets and other financial instruments”. As of June 30, 2026, a negative fair value adjustment amounting to $73 ($nil as of June 30, 2025) is recognized in the interim unaudited condensed Consolidated Statements of Income in the line item “Fair value adjustment on derivative asset <span style="font-size: 10pt;">and other financial instruments”. </span></div><div style="text-align: justify;"> </div><div style="text-align: justify;"> <span style="font-weight: bold; font-style: italic;">Financial Risk Management:</span> The Company activities expose it to a variety of financial risks including fluctuations in, time charter rates, credit and interest rates risk. Risk management is carried out under policies approved by executive management. Guidelines are established for overall risk management, as well as specific areas of operations. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold; font-style: italic;">Credit Risk:</span><span style="font-weight: bold;"> </span>The Company closely monitors its credit exposure to customers and counterparties for credit risk. The Company has entered into commercial management agreement with Conchart Commercial Inc. (“Conchart”), pursuant to which Conchart has agreed to provide commercial management services to the Company, including the negotiation, on behalf of the Company, of vessel employment contracts (see Note 8). Conchart has policies in place to ensure that it trades with customers and counterparties with an appropriate credit history. Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable, cash and cash equivalents and time deposits. The Company does not believe its exposure to credit risk is likely to have a material adverse effect on its financial position, results of operations or cash flows. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold; font-style: italic;">Liquidity Risk:</span><span style="font-weight: bold;"> </span>Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. The Company monitors cash balances appropriately to meet working capital needs. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold; font-style: italic;">Foreign Exchange Risk:</span> Foreign currency transactions are translated into the measurement currency rates prevailing at the dates of transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognized in the interim unaudited condensed Consolidated Statements of Income. </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(k)</span> </div> <div> <span style="font-weight: bold;">Derivative instruments </span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> The Company is exposed to interest rate risk relating to its variable rate borrowings. In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $484,106 (“December 2021 hedging”), which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> At the inception of the transaction, the Company documents the relationship between hedging instruments and hedged items, as well as its risk management objective and the strategy for undertaking various hedging transactions. The Company also documents its assessment, both at the hedge inception and on an ongoing basis, of whether the derivative financial instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> This transaction is designated as a cash flow hedge, and under ASU 2017-12, cash flow hedge accounting allows all changes in fair value to be recorded through Other Comprehensive Income once hedge effectiveness has been established. Under ASC 815-30-35-38, amounts in accumulated other comprehensive income shall be reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings (i.e., each quarter) and shall be presented in the same income statement line item as the earnings effect of the hedged item in accordance with paragraph 815-20-45-1A. </div><div style="text-align: justify;"> The premium paid related to this derivative was classified in the interim unaudited condensed Consolidated Statements of Cash Flows as operating activities in the line item “Derivative assets and other financial instruments”. The premium shall be amortized into earnings “on a systematic and rational basis over the period in which the hedged transaction affects earnings” (ASC 815-30-35-41A); that is, the Company will expense the premium over the life of the interest rate cap in accordance with the “caplet method,” as described in Derivatives Implementation Group (DIG) Issue G20. DIG Issue G20 dictates that the cost of the interest rate cap is recognized on earnings over time, based on the value of each periodic caplet. The cost per period will change as the caplet for that period changes in value. Given that the interest rate cap is forward-starting, expensing of the premium will not begin until the effective start date of the interest rate cap, in order to match potential cap revenue with the cap expenses in the period in which they are incurred. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In February 2022, the Company purchased two interest rate caps with an aggregate notional amount of $507,891. The first interest rate cap of $253,946 which has been designated as a cash flow hedge, has the same accounting treatment as described above for the December 2021 hedging. The second interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $1,113 as at June 30, 2026 ($2,831 negative fair value adjustment as at June 30, 2025) was recorded through interim unaudited condensed Consolidated Statements of Income. ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, the Company has designated only a portion of its outstanding debt (initially $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged (see Note 6). </div><div>  </div><div style="text-align: justify;"> The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. The Company assesses the effectiveness of the hedges on an ongoing basis. As of June 30, 2026, the interest rate cap notional amount covers ~38% of the outstanding floating debt. </div><div>  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(l)</span> </div> <div> <span style="font-weight: bold;">Recent accounting pronouncements</span> </div> </div><div style="clear: both;">  </div><div style="text-align: justify;"> In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The standard is intended to enhance transparency of income statement disclosures primarily through additional disaggregation of relevant expense captions. The standard is effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with prospective or retrospective application permitted. The Company is currently evaluating the potential impact of adopting this standard on the Company’s interim unaudited condensed Consolidated Financial Statements and disclosures. </div> <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(a)</span> </div> <div style="text-indent: -51px; padding-left: 51px;"> <span style="font-weight: bold;">Basis of Presentation</span></div></div><div style="text-align: justify; clear: both;"> The accompanying financial information is unaudited and reflects all adjustments, consisting solely of normal recurring adjustments, which, in the opinion of management, are necessary for a fair statement of financial position and results of operations for the periods presented. The financial information does not include all disclosures required under United States Generally Accepted Accounting Principles (“U.S. GAAP”) for annual financial statements. These interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements as of December 31, 2025, filed with the Securities and Exchange Commission on March 16, 2026 in the Company’s Annual Report on Form 20-F. </div> <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(b)</span> </div> <div> <span style="font-weight: bold;"> Principles of Consolidation</span> </div> </div><div style="text-align: justify;"> The accompanying interim unaudited condensed consolidated financial information include the financial statements of the Company and its wholly owned subsidiaries; the Company has no other interests. All significant intercompany balances and transactions have been eliminated in the Company’s interim unaudited condensed consolidated financial statements. </div> <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(c)</span> </div> <div> <span style="font-weight: bold;">Use of estimates</span> </div> </div><div style="text-align: justify;"> The preparation of interim unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions and/or conditions. </div> <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(d)</span> </div> <div> <span style="font-weight: bold;">Vessels in operation</span> </div> </div><div style="text-align: justify;"> Vessels are generally recorded at their historical cost, which consists of the acquisition price and any material expenses incurred upon acquisition, adjusted for the fair value of intangible assets or liabilities associated with above or below market charters attached to the vessels at acquisition. See Intangible Assets and Liabilities at Note 2(f) below. Vessels under construction by the Company are stated at historical cost, comprising the contract price and pre-delivery expenses e.g. capitalised interest, and material acquisition-related costs, including improvements and other expenses. Vessels acquired in a corporate transaction accounted for as an asset acquisition are stated at the acquisition price, which consists of consideration paid, plus transaction costs, considering pro rata allocation based on vessels fair value at the acquisition date. Vessels acquired in a corporate transaction accounted for as a business combination are recorded at fair value. Vessels acquired as part of the Marathon Merger in 2008 were accounted for under ASC 805, which required that the vessels be recorded at fair value, less the negative goodwill arising as a result of the accounting for the merger. </div><div style="text-align: justify;"> Subsequent expenditures for major improvements and upgrades are capitalized, provided they appreciably extend the life, increase the earnings capacity or improve the efficiency or safety of the vessels. </div><div style="text-align: justify;"> Borrowing costs incurred during the construction of vessels or as part of the prefinancing of the acquisition of vessels are capitalized. There was no capitalized interest for the six months ended June 30, 2026, and 2025. </div><div style="text-align: justify;"> Vessels are stated less accumulated depreciation and impairment, if applicable. Vessels are depreciated to their estimated residual value using the straight-line method over their estimated useful lives which are reviewed on an ongoing basis to ensure they reflect current technology, service potential and vessel structure. The useful lives are estimated to be 30 years from original delivery by the shipyard. </div><div style="text-align: justify;"> Management estimates the residual values of the Company’s container vessels based on a scrap value cost of steel times the weight of the vessel noted in lightweight tons (LWT). Residual values are periodically reviewed and revised to recognize changes in conditions, new regulations or other reasons. Revision of residual values affect the depreciable amount of the vessels and affects depreciation expense in the period of the revision and future periods. Management estimated the residual values of its vessels based on scrap rate of $400 per LWT. </div><div style="text-align: justify;"> For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts. </div><div style="text-align: justify;"> The cost and related accumulated depreciation of assets retired or sold are removed from the accounts at the time of sale or retirement and any gain or loss is included in the interim unaudited condensed Consolidated Statements of Income. </div> 0 0 P30Y 400 <div style="text-indent: -36pt; text-align: justify; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(e)</span> </div> <div> <span style="font-weight: bold;">Assets Held for Sale</span> </div> </div><div style="text-align: justify;"> The Company classifies assets and disposal groups as being held for sale when the following criteria are met: management has committed to a plan to sell the asset (disposal group); the asset (disposal group) is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated; the sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within one year; the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets or disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These assets are not depreciated once they meet the criteria to be held for sale. As of June 30, 2026, Ian H, Manet, Kumasi and Julie, which were agreed to be sold for an aggregate sale price $65,500, did not meet the criteria as held for sale. The ships are scheduled to be delivered to buyers upon expiry of their respective charters. </div> P1Y 65500000 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(f)</span> </div> <div> <span style="font-weight: bold;">Intangible assets and liabilities – charter agreements</span> </div> </div><div style="text-align: justify;"> The Company’s intangible assets and liabilities consist of unfavorable lease terms on charter agreements acquired in assets acquisitions. When intangible assets or liabilities associated with the acquisition of a vessel are identified, they are recorded at fair value. Fair value is determined by reference to market data and the discounted amount of expected future cash flows. Where charter rates are higher than market charter rates, an intangible asset is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel and equivalent duration of charter party at the date the vessel is delivered. Where charter rates are less than market charter rates, an intangible liability is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel. The determination of the fair value of acquired assets and liabilities requires the Company to make significant assumptions and estimates of many variables including market charter rates (including duration), the level of utilization of its vessels and its weighted average cost-of capital. </div><div style="text-align: justify;"> The estimated market charter rate (including duration) is considered a significant assumption. The use of different assumptions could result in a material change in the fair value of these items, which could have a material impact on the Company’s financial position and results of operations. The amortizable value of favorable and unfavorable leases is amortized over the remaining life of the relevant lease term and the amortization expense or income respectively is included under the caption “Amortization of intangible liabilities-charter agreements” in the interim unaudited condensed Consolidated Statements of Income. For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts. </div> <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(g)</span> </div> <div> <span style="font-weight: bold;">Impairment of Long-lived assets</span> </div> </div><div style="text-align: justify;"> Tangible fixed assets, such as vessels, that are held and used or to be disposed of by the Company are reviewed for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. In these circumstances, the Company performs step one of the impairment test by comparing the undiscounted projected net operating cash flows for each vessel group to its carrying value. A vessel group comprises the vessel, the unamortized portion of deferred drydocking related to the vessel and the related carrying value of the intangible asset or liability (if any) with respect to the time charter attached to the vessel at its purchase. If the undiscounted projected net operating cash flows of the vessel group are less than its carrying amount, management proceeds to step two of the impairment assessment by comparing the vessel group’s carrying amount to its fair value, including any applicable charter, and an impairment loss is recorded equal to the difference between the vessel group’s carrying value and fair value. Fair value is determined with the assistance from valuations obtained from third party independent ship brokers. For the deposits for vessels under construction, the net cash flows also include the future cash out flows to make vessels ready for use, all remaining progress payments to shipyards and pre-delivery expenses. </div><div style="text-align: justify;"> The Company uses a number of assumptions in projecting its undiscounted net operating cash flows analysis including, among others, (i) revenue assumptions for charter rates on expiry of existing charters, which are based on forecast charter rates, where relevant, in the four years from the date of the impairment test and a reversion to the historical mean of time charter rates for each vessel thereafter, (ii) off-hire days, which are based on actual off-hire statistics for the Company’s fleet, (iii) operating costs, based on current levels escalated over time based on long term trends, (iv) dry docking frequency, duration and cost, (v) estimated useful life, which is assessed as a total of 30 years from original delivery by the shipyard and (vi) scrap values. </div><div style="text-align: justify;"> Revenue assumptions are based on contracted charter rates up to the end of the existing contract of each vessel, and thereafter, estimated time charter rates for the remaining life of the vessel. The estimated time charter rate used for non-contracted revenue days of each vessel is considered a significant assumption. Recognizing that the container shipping industry is cyclical and subject to significant volatility based on factors beyond the Company’s control, management believes that using forecast charter rates in the four years from the date of the impairment assessment and a reversion to the historical mean of time charter rates thereafter, represents a reasonable benchmark for the estimated time charter rates for the non-contracted revenue days, and takes into account the volatility and cyclicality of the market. </div><div style="text-align: justify;"> During the six months ended June 30, 2026, the Company evaluated the impact of the current economic environment and other relevant events and circumstances on the recoverability of all its vessel groups. For the Company’s vessel groups other than the four vessels discussed below, the Company determined that there were no events or changes in circumstances indicating that their carrying amounts may not be recoverable. During the six months ended June 30, 2026, the Company entered into agreements to sell four vessels to third parties, with delivery expected after completion of their existing charter parties. Although these vessels were not classified as held for sale as of June 30, 2026, the expected disposal before the end of their previously estimated useful lives was considered a triggering event under ASC 360. The Company performed a recoverability assessment and concluded that no impairment loss was required. </div><div style="text-align: justify;"> During the six months ended June 30, 2025, the Company evaluated the impact of current economic situation on the recoverability of all its vessel groups and has determined that there were no events or changes in circumstances which indicated that their carrying amounts may not be recoverable. Accordingly, there was no triggering event, and no impairment test was performed for the six months ended June 30, 2025. </div><div style="text-align: justify;"> Through the latter part of 2025, the Company noted that events and circumstances triggered the existence of potential impairment for some of Company’s vessel groups. These indicators included the potential impact of the current container sector on management’s expectation for future revenues, as well as some volatility in the charter market and the vessels’ market values. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was not required for any vessel group, as their undiscounted projected net operating cash flows exceeded their carrying value. Accordingly, no impairment recorded for the year ended December 31, 2025. </div> P4Y P30Y 0 0 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(h)</span> </div> <div> <span style="font-weight: bold;">Revenue recognition and related expense</span> </div> </div><div style="text-align: justify;"> The Company charters out its vessels on time charters which involves placing a vessel at a charterer’s disposal for a specified period of time during which the charterer uses the vessel in return for the payment of a specified daily hire rate. Such charters are accounted for as operating leases and therefore revenue is recognized on a straight-line basis as the average revenues over the rental periods of such charter agreements, as service is performed. Cash received in excess of earned revenue is recorded as deferred revenue. If a time charter contains one or more consecutive option periods, then subject to the options being exercisable solely by the Company, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter, including any options which are more likely than not to be exercised. If a time charter is modified, including the agreement of a direct continuation at a different rate, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter from the date of modification, adjusted for any prepaid or accrued balance from the original lease, generally on a straight-line basis over the new lease term (the remaining balance from the original lease, adjusted for the additional or terminated periods). During the six-month periods ended June 30, 2026, and 2025, an amount of $4,425 and $2,738 loss, respectively, has been recorded in time charter-revenues for such modifications and revenues recognized on a straight-line basis. Any difference between the charter rate invoiced and the time charter revenue recognized is classified as, or released from, deferred revenue. As of June 30, 2026, current and non-current portion from implementing the straight-line basis, amounting to $9,807 ($12,643 as of December 31, 2025) and $8,079 ($10,344 as of December 31, 2025), respectively, are presented in the interim unaudited condensed Consolidated Balance Sheets in the line item “Prepaid expenses and other current assets” and “Other non-current assets”, respectively. As of June 30, 2026, current liability and non-current liability from implementing the straight-line basis, amounting to $4,770 ($8,624 as of December 31, 2025) and $6,968 ($3,797 as of December 31, 2025), are presented in the interim unaudited condensed Consolidated Balance Sheets in the line item “Current portion of deferred revenue” and “Deferred revenue, net of current portion”, respectively.</div><div style="text-align: justify;"> Revenues are recorded net of address commissions, which represent a discount provided directly to the charterer based on a fixed percentage of the agreed upon charter rate. Charter revenue received in advance which relates to the period after a balance sheet date is recorded as deferred revenue within current liabilities until the respective charter services are rendered. </div><div style="text-align: justify;"> Under time charter arrangements, the Company, as owner, is responsible for all the operating expenses of the vessels, such as crew costs, insurance, repairs and maintenance, and such costs are expensed as incurred and are included in vessel operating expenses. </div><div style="text-align: justify;"> Commission paid to brokers to facilitate the agreement of a new charter are included in time charter and voyage expenses as are certain expenses related to a voyage, such as the costs of bunker fuel consumed when a vessel is off-hire or idle. </div><div style="text-align: justify;"> <span style="font-weight: bold;">Leases:</span> In cases of lease agreements where the Company acts as the lessee, the Company recognizes an operating lease asset and a corresponding lease liability on the interim unaudited condensed Consolidated Balance Sheets. Following initial recognition and with regards to subsequent measurement the Company remeasures lease liability and right of use asset at each reporting date. </div><div style="text-align: justify;"> Leases where the Company acts as the lessor are classified as either operating or sales-type / direct financing leases. </div><div style="text-align: justify;"> In cases of lease agreements where the Company acts as the lessor under an operating lease, the Company keeps the underlying asset on the interim unaudited condensed Consolidated Balance Sheets and continues to depreciate the assets over its useful life. In cases of lease agreements where the Company acts as the lessor under a sales-type / direct financing lease, the Company derecognizes the underlying asset and records a net investment in the lease. The Company acts as a lessor under operating leases in connection with all of its charter out -bareboat- out arrangements. </div><div style="text-align: justify;"> In cases of sale and leaseback transactions, if the transfer of the asset to the lessor does not qualify as a sale, then the transaction constitutes a failed sale and leaseback and is accounted for as a financial liability. For a sale to have occurred, the control of the asset would need to be transferred to the lessor, and the lessor would need to obtain substantially all the benefits from the use of the asset. </div><div style="text-align: justify;"> The Company elected the practical expedient which allows the Company to treat the lease and non-lease components as a single lease component for the leases where the timing and pattern of transfer for the non-lease component and the associated lease component to the lessees are the same and the lease component, if accounted for separately, would be classified as an operating lease. The combined component is therefore accounted for as an operating lease under ASC 842, as the lease components are the predominant characteristics. </div> -4425000 -2738000 9807000 12643000 8079000 10344000 4770000 8624000 6968000 3797000 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(i)</span> </div> <div> <span style="font-weight: bold;">Segment Reporting</span> </div> </div><div style="text-align: justify;"> The Company derives its revenues from chartering vessels to liner companies. The Company reports financial information and evaluates its operations by charter revenues and not by the length of ship employment for its customers. The Company does not use discrete financial information to evaluate operating results for each vessel or type of charter. Management does not identify expenses, profitability or other financial information by vessel or charter type. The Company’s Executive Chairman, Chief Executive Officer and Chief Financial Officer, collectively, who are the Chief Operating Decision Maker ("CODM"), review operating results solely by revenue per day and consolidated net income of the fleet and thus the Company has determined that it operates under one operating and reportable segment. Consolidated vessel operating expense information presented within the interim unaudited condensed Consolidated Statements of Income is considered to be significant expenses. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide, subject to restrictions as per the charter agreement, and, as a result, the disclosure of geographic information is impracticable. </div> 1 1 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(j)</span> </div> <div> <span style="font-weight: bold;">Fair Value Measurement and Financial Instruments</span> </div> </div><div style="text-align: justify;"> Financial instruments carried on the interim unaudited condensed Consolidated Balance Sheets include cash and cash equivalents, restricted cash and other instruments, time deposits, trade receivables and payables, other receivables and other liabilities, amounts due to/from related parties, derivatives and long-term debt. The particular recognition methods applicable to each class of financial instrument are disclosed in the applicable significant policy description of each item or included below as applicable. </div><div style="text-align: justify;"> <span style="font-weight: bold; font-style: italic;">Fair value measurement:</span> Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The hierarchy is broken down into three levels based on the observability of inputs as follows: </div><div style="text-align: justify;"> <span style="font-weight: bold;">Level 1 - </span>Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. </div><div style="text-align: justify;"> <span style="font-weight: bold;">Level 2 - </span>Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. </div><div style="text-align: justify;"> <span style="font-weight: bold;">Level 3 - </span>Valuations based on inputs that are unobservable and significant to the overall fair value measurement. </div><div style="text-align: justify;"> <span style="font-weight: bold;">Fair value of assets and liabilities</span> </div><div style="text-align: justify;"> The following methods and assumptions were used to estimate the fair value of each class of financial instrument: </div><div style="text-align: justify;"> <span style="font-weight: bold;">Cash and cash equivalents, restricted cash and other instruments, time deposits, amounts due to/from related parties:</span> The carrying amounts reported in the interim unaudited condensed Consolidated Balance Sheets for these balances approximate their fair value because of the short maturity or short-term nature of these balances. </div><div style="text-align: justify;"> <span style="font-weight: bold;">Long-term debt, including current portion, ne</span>t: The carrying value of our long-term bank loans and sale and leaseback agreements continues to approximate its fair value generally due to their variable interest rates. The carrying value has been adjusted to reflect the net presentation of deferred finance costs. </div><div style="text-align: justify;"> The estimated fair values of the Company’s financial instruments are as follows: </div><table cellpadding="0" style="font-size: 10pt; width: 100%; border-spacing: 0px;" width="618"> <tr style="height: 0px; font-size: 0px;"><td style="width: 52%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td></tr><tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes;page-break-inside:avoid; height:1.0pt"> <td style="height: 1pt;" valign="bottom"> </td> <td valign="bottom"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt;" valign="bottom"> </td> <td colspan="5" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt; text-align: center;" valign="bottom"> <div style="margin: 0in;"><b><span style="mso-spacerun:yes">  </span>June 30, 2026</b></div> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; border-image: none; text-align: center;" valign="bottom"> </td> <td style="text-align: center;" valign="bottom"> </td><td style="height: 1pt; text-align: center; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="5" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt; text-align: center;" valign="bottom"> <div style="margin: 0in;"><b>December 31, 2025</b></div> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; border-image: none; text-align: center;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:1;page-break-inside:avoid;height:1.0pt"> <td style="height: 1pt; border-width: medium; border-style: none; border-color: currentcolor;" valign="bottom"> </td> <td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" valign="bottom"> </td><td style="height: 1pt; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Book Value</b></div> </td><td style="border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td><td style="height: 1pt; text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Fair Value</b></div> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" valign="bottom"> </td> <td style="text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt; text-align: right;" valign="bottom"> </td> <td colspan="2" style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Book Value</b></div> </td> <td style="text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td><td style="height: 1pt; text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Fair Value</b></div> </td><td style="border-width: medium; border-style: none; border-color: currentcolor;" valign="bottom"> </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td valign="bottom"> <div>Cash and cash equivalents</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">388,599</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">388,599</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">273,876</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">273,876</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:3;page-break-inside:avoid;height:1.0pt"> <td valign="bottom"> <div>Time deposits</div> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">110,450</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">110,450</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">199,100</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">199,100</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td valign="bottom"> <div>Restricted cash and other instruments</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">149,990</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">149,990</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">164,120</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">164,120</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:5;page-break-inside:avoid;height:1.0pt"> <td style="vertical-align: bottom;" valign="bottom"> <div>Derivative assets and other financial instruments</div> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">22,954</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">22,954</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">5,234</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">5,234</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td valign="bottom"> <div>Due from related parties</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-92">1,309</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-93">1,309</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-94">148</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-95">148</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:7;page-break-inside:avoid;height:1.0pt"> <td valign="bottom"> <div>Due to related parties</div> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-96">(740</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-97">(740</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-98">(692</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-99">(692</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;" valign="bottom"> <div>Credit facilities and financial liabilities, including current portion, net</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(671,764</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(676,425</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(689,142</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(694,709</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> </tr> </table><table cellpadding="0" style="font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 52%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom;"> </td> <td colspan="13" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Fair Value Measurements as at June 30, 2026</span> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: bottom; text-align: center;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Total</span> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level I</span> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level II</span> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level III</span> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Cash and cash equivalents </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">388,599</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">388,599</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Time deposits </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">110,450</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">110,450</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Restricted cash and other instruments </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">149,990</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">149,990</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Derivative assets and other financial instruments</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">22,954</td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">22,954</td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Due from related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-100">1,309</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-101">1,309</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-102"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-103"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Due to related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-104">(740</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-105">(740</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-106"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-107"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Credit facilities and financial liabilities, including current portion, net</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(676,425</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(676,425</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> </table><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 52%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; width: 1%;"> </td> <td colspan="13" style="vertical-align: bottom; text-align: center; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap;"> <span style="font-weight: bold;">Fair Value Measurements as at December 31, 2025</span> </td><td style="vertical-align: bottom; text-align: center; border-width: medium; border-style: none; border-color: currentcolor; white-space: nowrap; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Total</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level I</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center; width: 1%; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level II</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level III</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Cash and cash equivalents </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">273,876</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">273,876</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Time deposits </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">199,100</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">199,100</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Restricted cash and other instruments </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">164,120</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">164,120</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Derivative assets and other financial instruments</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">5,234</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">5,234</td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Due from related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-108">148</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-109">148</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-110"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-111"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Due to related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-112">(692</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-113">(692</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-114"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-115">          - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Credit facilities and financial liabilities, including current portion, net</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(694,709</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(694,709</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> </table><div style="text-align: justify;"> In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $484,106, which amortizes over time as the Company’s outstanding debt balances decline. In February 2022, the Company further hedged its exposure by putting in place two USD one-month <span style="-sec-ix-hidden: hidden-fact-116">LIBOR</span> interest rate caps of 0.75% through fourth quarter 2026, on $507,891 of its floating rate debt. The second-interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $1,113 as of June 30, 2026, was recorded through interim unaudited condensed Consolidated Statements of Income ($2,831 negative fair value adjustment for June 30, 2025). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. The Company is designating certain future interest payments on its outstanding variable-rate debt as the hedged item in this relationship. Under ASC 815-20-25-106e, “for cash flow hedges of the interest payments on only a portion of the principal amount of the interest-bearing asset or liability, the notional amount of the interest rate cap designated as the hedging instrument matches the principal amount of the portion of the asset or liability on which the hedged interest payments are based”. In this case, the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged. During 2023, all Company’s loan agreements have been amended and restated to take into effect the transition from <span style="-sec-ix-hidden: hidden-fact-117">LIBOR</span> to the Secured Overnight Financing Rate (“SOFR”) and the relevant provisions on a replacement rate. In addition, the Company’s interest rate caps automatically transited to 1-month Compounded <span style="-sec-ix-hidden: hidden-fact-118">SOFR</span> on July 1, 2023, at a level of 0.64%. </div><div style="text-align: justify;"> The Company assesses the effectiveness of the hedges on an ongoing basis. The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. </div><div style="text-align: justify;"> The objective of the hedges is to reduce the variability of cash flows associated with the interest rates relating to the Company’s variable rate borrowings. When derivatives are used, the Company is exposed to credit loss in the event of non-performance by the counterparties; however, non-performance is not anticipated. ASC 815, <span style="font-style: italic;">Derivatives and Hedging</span>, requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the balance sheet. The fair values of the interest rate derivatives are based on quoted market prices for similar instruments from commercial banks (based on significant observable inputs – Level 2 inputs). </div><div style="text-align: justify;"> On April 4, 2024, the Company entered into a foreign exchange option strip (“FX option”) to purchase €3,000, with monthly settlements, starting April 11, 2024, and ended March 13, 2025. The strike price was EUR/USD 1.10. The Company entered to this option to hedge the downside foreign exchange risk associated with expenses denominated in EUR against fluctuations between the US Dollar and Euro. This FX option was designated as a cash flow hedge of anticipated expenses totalling €3,000, expected to occur each month. Changes in the fair value of the option other than “intrinsic value” were excluded from the assessment of effectiveness. The effectiveness of the hedging relationship was periodically assessed during the life of the hedge by comparing the terms of the option and the forecasted expenses to ensure that they continued to coincide. Should the critical terms no longer matched exactly, hedge effectiveness (both prospective and retrospective) was assessed by evaluating the dollar-offset ratio of the spot intrinsic value of the actual option contract and a hypothetically perfect option contract. </div><div style="text-align: justify;"> In January 2026, the Company entered into a series of FX Reverse Convertible transactions for a total amount of $33,000. These instruments are USD-denominated structured notes with returns linked to the EUR/USD exchange rate. Each instrument has a fixed coupon payable at maturity, is USD capital protected and is subject to potential principal conversion into EUR if the EUR/USD exchange rate falls below the specified strike. Each instrument is a hybrid financial instrument with an embedded foreign exchange option. The Company has elected the Fair Value Option under ASC 825 for these structured instruments. As of June 30, 2026, $12,000 of the FX Reverse Convertible instruments have matured. Under the fair value option, as of June 30, 2026, the instruments are presented as assets measured at fair value amounting to $20,986 ($nil as of December 31, 2025) in the interim unaudited condensed Consolidated Balance Sheets in the line item “Derivative assets and other financial instruments”. As of June 30, 2026, a negative fair value adjustment amounting to $73 ($nil as of June 30, 2025) is recognized in the interim unaudited condensed Consolidated Statements of Income in the line item “Fair value adjustment on derivative asset <span style="font-size: 10pt;">and other financial instruments”. </span></div><div style="text-align: justify;"> <span style="font-weight: bold; font-style: italic;">Financial Risk Management:</span> The Company activities expose it to a variety of financial risks including fluctuations in, time charter rates, credit and interest rates risk. Risk management is carried out under policies approved by executive management. Guidelines are established for overall risk management, as well as specific areas of operations. </div><div style="text-align: justify;"> <span style="font-weight: bold; font-style: italic;">Credit Risk:</span><span style="font-weight: bold;"> </span>The Company closely monitors its credit exposure to customers and counterparties for credit risk. The Company has entered into commercial management agreement with Conchart Commercial Inc. (“Conchart”), pursuant to which Conchart has agreed to provide commercial management services to the Company, including the negotiation, on behalf of the Company, of vessel employment contracts (see Note 8). Conchart has policies in place to ensure that it trades with customers and counterparties with an appropriate credit history. Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable, cash and cash equivalents and time deposits. The Company does not believe its exposure to credit risk is likely to have a material adverse effect on its financial position, results of operations or cash flows. </div><div style="text-align: justify;"> <span style="font-weight: bold; font-style: italic;">Liquidity Risk:</span><span style="font-weight: bold;"> </span>Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. The Company monitors cash balances appropriately to meet working capital needs. </div><div style="text-align: justify;"> <span style="font-weight: bold; font-style: italic;">Foreign Exchange Risk:</span> Foreign currency transactions are translated into the measurement currency rates prevailing at the dates of transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognized in the interim unaudited condensed Consolidated Statements of Income. </div> <div style="text-align: justify;"> The estimated fair values of the Company’s financial instruments are as follows: </div><div style="text-align: justify;"> </div><table cellpadding="0" style="font-size: 10pt; width: 100%; border-spacing: 0px;" width="618"> <tr style="height: 0px; font-size: 0px;"><td style="width: 52%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td></tr><tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes;page-break-inside:avoid; height:1.0pt"> <td style="height: 1pt;" valign="bottom"> </td> <td valign="bottom"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt;" valign="bottom"> </td> <td colspan="5" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt; text-align: center;" valign="bottom"> <div style="margin: 0in;"><b><span style="mso-spacerun:yes">  </span>June 30, 2026</b></div> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; border-image: none; text-align: center;" valign="bottom"> </td> <td style="text-align: center;" valign="bottom"> </td><td style="height: 1pt; text-align: center; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="5" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt; text-align: center;" valign="bottom"> <div style="margin: 0in;"><b>December 31, 2025</b></div> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; border-image: none; text-align: center;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:1;page-break-inside:avoid;height:1.0pt"> <td style="height: 1pt; border-width: medium; border-style: none; border-color: currentcolor;" valign="bottom"> </td> <td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" valign="bottom"> </td><td style="height: 1pt; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Book Value</b></div> </td><td style="border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td><td style="height: 1pt; text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Fair Value</b></div> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" valign="bottom"> </td> <td style="text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); border-image: none; height: 1pt; text-align: right;" valign="bottom"> </td> <td colspan="2" style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Book Value</b></div> </td> <td style="text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td><td style="height: 1pt; text-align: right; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> </td> <td style="height: 1pt; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" valign="bottom"> <div style="margin: 0in;"><b>Fair Value</b></div> </td><td style="border-width: medium; border-style: none; border-color: currentcolor;" valign="bottom"> </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td valign="bottom"> <div>Cash and cash equivalents</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">388,599</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">388,599</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">273,876</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">273,876</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:3;page-break-inside:avoid;height:1.0pt"> <td valign="bottom"> <div>Time deposits</div> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">110,450</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">110,450</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">199,100</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">199,100</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td valign="bottom"> <div>Restricted cash and other instruments</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">149,990</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">149,990</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">164,120</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom">164,120</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:5;page-break-inside:avoid;height:1.0pt"> <td style="vertical-align: bottom;" valign="bottom"> <div>Derivative assets and other financial instruments</div> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">22,954</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">22,954</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">5,234</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">5,234</td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td valign="bottom"> <div>Due from related parties</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-92">1,309</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-93">1,309</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-94">148</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-95">148</div></td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom"> </td> </tr> <tr style="mso-yfti-irow:7;page-break-inside:avoid;height:1.0pt"> <td valign="bottom"> <div>Due to related parties</div> </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-96">(740</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-97">(740</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-98">(692</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom">$</td> <td style="height: 1pt; text-align: right; margin: 0in; width: 9%;" valign="bottom"><div style="-sec-ix-hidden: hidden-fact-99">(692</div></td><td style="text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> </tr> <tr style="break-inside: avoid; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;" valign="bottom"> <div>Credit facilities and financial liabilities, including current portion, net</div> </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(671,764</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(676,425</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(689,142</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: right; margin: 0in; break-inside: avoid; border-collapse: collapse; border-spacing: 0px; width: 1%;" valign="bottom"> </td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; break-inside: avoid; height: 1pt; border-collapse: collapse; border-spacing: 0px; width: 1%; vertical-align: bottom;" valign="bottom">$</td> <td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 1pt; text-align: right; margin: 0in; width: 9%; vertical-align: bottom;" valign="bottom">(694,709</td><td style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-align: left; margin: 0in; width: 1%;" valign="bottom">) </td> </tr> </table> 388599000 388599000 273876000 273876000 110450000 110450000 199100000 199100000 149990000 149990000 164120000 164120000 22954000 22954000 5234000 5234000 1309000 1309000 148000 148000 740000 740000 692000 692000 -671764000 -676425000 -689142000 -694709000 <table cellpadding="0" style="font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 52%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom;"> </td> <td colspan="13" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: center;"> <span style="font-weight: bold;">Fair Value Measurements as at June 30, 2026</span> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: bottom; text-align: center;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Total</span> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level I</span> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level II</span> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level III</span> </td><td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Cash and cash equivalents </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">388,599</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">388,599</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Time deposits </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">110,450</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">110,450</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Restricted cash and other instruments </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">149,990</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">149,990</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Derivative assets and other financial instruments</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">22,954</td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">22,954</td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Due from related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-100">1,309</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-101">1,309</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-102"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-103"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Due to related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-104">(740</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-105">(740</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-106"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-107"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Credit facilities and financial liabilities, including current portion, net</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(676,425</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(676,425</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> </table><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 52%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; width: 1%;"> </td> <td colspan="13" style="vertical-align: bottom; text-align: center; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap;"> <span style="font-weight: bold;">Fair Value Measurements as at December 31, 2025</span> </td><td style="vertical-align: bottom; text-align: center; border-width: medium; border-style: none; border-color: currentcolor; white-space: nowrap; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; border-width: medium; border-style: none; border-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Total</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level I</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center; width: 1%; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level II</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: center; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <span style="font-weight: bold;">Level III</span> </td><td style="vertical-align: bottom; text-align: center; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Cash and cash equivalents </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">273,876</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">273,876</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Time deposits </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">199,100</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">199,100</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Restricted cash and other instruments </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">164,120</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">164,120</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Derivative assets and other financial instruments</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">5,234</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">5,234</td><td style="text-align: left; width: 1%; vertical-align: bottom;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Due from related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-108">148</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-109">148</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-110"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-111"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> Due to related parties </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-112">(692</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-113">(692</div></td><td style="vertical-align: bottom; text-align: left; width: 1%;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-114"> - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;"><div style="-sec-ix-hidden: hidden-fact-115">          - </div></td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px; vertical-align: bottom;"> <div> <span style="letter-spacing: normal; text-indent: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Credit facilities and financial liabilities, including current portion, net</span> </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(694,709</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;">(694,709</td><td style="text-align: left; width: 1%; vertical-align: bottom;">) </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; vertical-align: bottom;">$</td> <td style="text-align: right; width: 9%; vertical-align: bottom;"> - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> </table> 388599000 388599000 0 0 110450000 110450000 0 0 149990000 149990000 0 0 22954000 0 22954000 0 1309000 1309000 0 0 740000 740000 0 0 -676425000 0 -676425000 0 273876000 273876000 0 0 199100000 199100000 0 0 164120000 164120000 0 0 5234000 0 5234000 0 148000 148000 0 0 692000 692000 0 0 -694709000 0 -694709000 0 484106000 2 P1M 0.0075 507891000 -1113000 -2831000 253946000 P1M 0.0064 3000000 1.1 3000000 33000000 -12000000 20986000 0 -73000 0 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(k)</span> </div> <div> <span style="font-weight: bold;">Derivative instruments </span> </div> </div><div style="text-align: justify;"> The Company is exposed to interest rate risk relating to its variable rate borrowings. In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $484,106 (“December 2021 hedging”), which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings. </div><div style="text-align: justify;"> At the inception of the transaction, the Company documents the relationship between hedging instruments and hedged items, as well as its risk management objective and the strategy for undertaking various hedging transactions. The Company also documents its assessment, both at the hedge inception and on an ongoing basis, of whether the derivative financial instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. </div><div style="text-align: justify;"> This transaction is designated as a cash flow hedge, and under ASU 2017-12, cash flow hedge accounting allows all changes in fair value to be recorded through Other Comprehensive Income once hedge effectiveness has been established. Under ASC 815-30-35-38, amounts in accumulated other comprehensive income shall be reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings (i.e., each quarter) and shall be presented in the same income statement line item as the earnings effect of the hedged item in accordance with paragraph 815-20-45-1A. </div><div style="text-align: justify;"> The premium paid related to this derivative was classified in the interim unaudited condensed Consolidated Statements of Cash Flows as operating activities in the line item “Derivative assets and other financial instruments”. The premium shall be amortized into earnings “on a systematic and rational basis over the period in which the hedged transaction affects earnings” (ASC 815-30-35-41A); that is, the Company will expense the premium over the life of the interest rate cap in accordance with the “caplet method,” as described in Derivatives Implementation Group (DIG) Issue G20. DIG Issue G20 dictates that the cost of the interest rate cap is recognized on earnings over time, based on the value of each periodic caplet. The cost per period will change as the caplet for that period changes in value. Given that the interest rate cap is forward-starting, expensing of the premium will not begin until the effective start date of the interest rate cap, in order to match potential cap revenue with the cap expenses in the period in which they are incurred. </div><div style="text-align: justify;"> In February 2022, the Company purchased two interest rate caps with an aggregate notional amount of $507,891. The first interest rate cap of $253,946 which has been designated as a cash flow hedge, has the same accounting treatment as described above for the December 2021 hedging. The second interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $1,113 as at June 30, 2026 ($2,831 negative fair value adjustment as at June 30, 2025) was recorded through interim unaudited condensed Consolidated Statements of Income. ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, the Company has designated only a portion of its outstanding debt (initially $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged (see Note 6). </div><div style="text-align: justify;"> The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. The Company assesses the effectiveness of the hedges on an ongoing basis. As of June 30, 2026, the interest rate cap notional amount covers ~38% of the outstanding floating debt. </div> 484106000 2 507891000 253946000 -1113000 -2831000 253946000 0.38 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">(l)</span> </div> <div> <span style="font-weight: bold;">Recent accounting pronouncements</span> </div> </div><div style="text-align: justify;"> In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The standard is intended to enhance transparency of income statement disclosures primarily through additional disaggregation of relevant expense captions. The standard is effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with prospective or retrospective application permitted. The Company is currently evaluating the potential impact of adopting this standard on the Company’s interim unaudited condensed Consolidated Financial Statements and disclosures. </div> <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">3.</span> </div> <div> <span style="font-weight: bold;">Vessels in Operation</span> </div> </div><div style="clear: both;">  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Vessel Cost,<span style="text-decoration-thickness: initial; display: block;"><br/></span>as adjusted for</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Accumulated</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Net Book</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> </tr> <tr> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%; white-space: nowrap; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> Impairment charges</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Depreciation</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Value</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; font-weight: bold;"> <div> As of January 1, 2025 </div> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">2,288,855</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">(404,215</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;">) </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">1,884,640</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td> </tr> <tr> <td style="vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div> Additions </div> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">203,314</td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">  - </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">203,314</td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> </tr> <tr> <td style="vertical-align: bottom;"> <div> Depreciation </div> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">  - </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">(91,906</td><td style="width: 1%; text-align: left; vertical-align: bottom;">) </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">(91,906</td><td style="width: 1%; text-align: left; vertical-align: bottom;">) </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div> Disposals </div> </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">(61,111</td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;">) </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">27,951</td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">(33,160</td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;">) </td> </tr> <tr> <td style="vertical-align: bottom; font-weight: bold;"> <div> As of December 31, 2025 </div> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">2,431,058</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">(468,170</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;">) </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">1,962,888</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> </tr> <tr> <td style="vertical-align: bottom;"> <div> Additions </div> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">53,279</td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">  - </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">53,279</td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div> Depreciation </div> </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">  - </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">(49,727</td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;">) </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">(49,727</td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;">) </td> </tr> <tr> <td style="vertical-align: bottom; font-weight: bold;"> <div> As of June 30, 2026 </div> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">2,484,337</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;"> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">(517,897</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;">) </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">1,966,440</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;"> </td> </tr> </table><div style="text-align: justify;"> As of June 30, 2026, and December 31, 2025, the Company had made additions for vessel expenditures and other capitalized vessel expenses. As of June 30, 2026, and June 30, 2025, unpaid capitalized expenses were $12,226 and $12,979 respectively. </div><div style="text-align: justify;">  </div><div> <span style="font-weight: bold;">2025 Vessel acquisitions</span> </div><div>  </div><div style="text-align: justify;"> During the fourth quarter of 2025, the Company agreed to purchase the ECO 8,586 TEU Vessels, which are three ECO 8,586 TEU, Korean-built containerships, for an aggregate price of approximately $90,000, of which two were delivered on various dates in December 2025 and the third one on January 9, 2026. As of December 31, 2025, the Company had paid in advance the purchase price of the third ECO 8,586 TEU Vessel, Cypress, which was delivered on January 9, 2026. On June 17, 2026, the Company entered into a loan agreement to finance the acquisition of the three ECO 8,586 TEU Vessels (Note 7a). </div><div>  </div><table style="border-spacing: 0px; border-collapse: collapse; font-size: 10pt; width: 100%;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td></tr><tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor;"> <div style="text-align: center;"> <span style="font-weight: bold;">Name</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <div style="text-align: center;"> <span style="font-weight: bold;">Capacity in TEUs</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <div> <span style="font-weight: bold;">Year Built</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <div> <span style="font-weight: bold;">Purchase Price</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> <div style="text-align: center;"> <span style="font-weight: bold;">Delivery date</span> </div> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> Koi (*) </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 8,586 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 2011 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> $30,000 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> December 29, 2025 </div> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-align: center;"> Lotus A (*) </div> </td> <td style="padding: 0px; vertical-align: middle;"> <div style="text-align: center;"> 8,586 </div> </td> <td style="padding: 0px; vertical-align: middle;"> <div style="text-align: center;"> 2010 </div> </td> <td style="padding: 0px;"> <div style="text-align: center;"> $30,000 </div> </td> <td style="padding: 0px;"> <div style="text-align: center;"> December 12, 2025 </div> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> Cypress (*) </div> </td> <td style="padding: 0px; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 8,586 </div> </td> <td style="padding: 0px; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 2011 </div> </td> <td style="padding: 0px; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> $30,000 </div> </td> <td style="padding: 0px; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> January 9, 2026 </div> </td> </tr> </table><div>  </div><div style="text-align: justify;"> (*) The charters of the ECO 8,586 TEU Vessels resulted in an intangible liability of $57,183 that was recognized and will be amortized over the remaining useful life of the charters. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In January 2025, the Company took delivery of the fourth ECO 9,019 TEU Vessel as per below: </div><div>  </div><table style="border-spacing: 0px; border-collapse: collapse; font-size: 10pt; width: 100%;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td></tr><tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; text-align: center;"> <div> <span style="font-weight: bold;">Name</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <div style="text-align: center;"> <span style="font-weight: bold;">Capacity in TEUs</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; text-align: center;"> <div> <span style="font-weight: bold;">Year Built</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; text-align: center;"> <div> <span style="font-weight: bold;">Purchase Price</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> <div style="text-align: center;"> <span style="font-weight: bold;">Delivery date</span> </div> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> Czech (*) </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 9,019 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 2015 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> $68,391 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> January 9, 2025 </div> </td> </tr> </table><div>  </div><div style="text-align: justify;"> (*) The charter of the fourth ECO 9,019 TEU Vessel resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. As of December 31, 2024, the Company had paid $6,850 advance for this vessel acquisition. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">2026 Agreed Vessels to be sold</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During the second quarter of 2026, the Company entered into agreements for the sale of four ships, Ian H, Manet, Kumasi and Julie, for an aggregate sale price of $65,500. The ships are scheduled to be delivered to buyers upon expiry of their respective charters. As of June 30, 2026, the four vessels were released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">2025 Sale of Vessels</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In May 2025, Dimitris Y was contracted to be sold for $35,600 and was delivered to the buyers on October 13, 2025. Vessel’s net proceeds from the sale of vessel were $35,085. On July 28, 2025, the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027. The net gain from the sale of vessel was $17,943. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In February 2025, the Company agreed to sell Keta, a 2,207 TEU vessel, which was sold on March 24, 2025, for net proceeds of $11,944, and the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027. The net gain from the sale of vessel was $7,121. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In December 2024, the Company agreed to sell Tasman, a 5,936 TEU vessel, which was sold on March 10, 2025, for net proceeds of $30,846, and the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027. The net gain from the sale of vessel was $17,929. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In February 2025, the Company agreed to sell Akiteta, a 2,220 TEU vessel, which was sold on February 19, 2025, for net proceeds of $10,693, and the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027. The net gain from the sale of vessel was $3,279. </div><div style="text-align: justify;"> <span style="font-weight: bold;">Container vessels under construction</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During the six months ended June 30, 2026, the Company agreed individual newbuilding contracts for 15 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships for an aggregate purchase price of approximately $1,329,863. As of June 30, 2026, the Company had a total of 15 container vessels under construction, with scheduled deliveries between 4Q 2028 and 1Q 2030. As of June 30, 2026, and December 31, 2025, the Company had made advances for deposits for vessels under construction of $124,340 and $nil, respectively. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, the future remaining contractual commitments for the 15 container vessels under construction were as follows: </div><div style="text-align: justify;">  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 88%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; font-size: 0px;"> </td> <td style="border-width: medium; border-style: none; border-color: currentcolor; text-align: center; width: 1%;"><br/></td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;"><span style="font-weight: 700; letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount</span></td><td style="border-width: medium; border-style: none; border-color: currentcolor; text-align: center; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2027 </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">74,463</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2028 </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">88,887</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2029 </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">670,756</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2030 </div> </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid black;">371,417</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; padding-left: 10px;"> <div> <span style="font-weight: bold;">Total contractual commitments</span> </div> </td> <td style="text-align: right; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">1,205,523</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Impairment</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The Company evaluated the impact of the current economic environment and other relevant events and circumstances on the recoverability of all its vessel groups. For the Company’s vessel groups other than the four vessels discussed below, the Company determined that there were no events or changes in circumstances indicating that their carrying amounts may not be recoverable. During the six months ended June 30, 2026, the Company entered into agreements to sell four vessels to third parties, with delivery expected after completion of their existing charter parties. Although these vessels were not classified as held for sale as of June 30, 2026, the expected disposal before the end of their previously estimated useful lives was considered a triggering event under ASC 360. The Company performed a recoverability assessment and concluded that no impairment loss was required. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Through the latter part of 2025, the Company noted that events and circumstances triggered the existence of potential impairment for some of Company’s vessel groups. These indicators included the potential impact of the current container sector on management’s expectation for future revenues, as well as some volatility in the charter market and the vessels’ market values. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was not required for any vessel group, as their undiscounted projected net operating cash flows exceeded their carrying value. Accordingly, no impairment recorded for the year ended December 31, 2025. </div><div>  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Collateral</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, 11 vessels were mortgaged as collateral under the 5.69% Senior Secured Notes due 2027 and 39 vessels under the Company’s loan facilities and sale and leaseback agreements. Twenty-one vessels were unencumbered as of June 30, 2026. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Advances for vessel acquisitions, container vessels under construction, and other additions</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, the Company had made $<span style="-sec-ix-hidden: hidden-fact-119">nil</span>, $124,340, and $5,043 for advances for vessel acquisitions, deposits for container vessels under construction, and other additions, respectively. As of December 31, 2025, the Company had made $30,200, $<span style="-sec-ix-hidden: hidden-fact-120">nil</span>, and $5,761 for advances for vessel acquisitions, container vessels under construction, and other additions, respectively. </div> <table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Vessel Cost,<span style="text-decoration-thickness: initial; display: block;"><br/></span>as adjusted for</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Accumulated</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Net Book</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> </tr> <tr> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%; white-space: nowrap; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> Impairment charges</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Depreciation</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Value</span></td><td style="vertical-align: bottom; font-weight: bold; text-align: center; width: 1%;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; font-weight: bold;"> <div> As of January 1, 2025 </div> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">2,288,855</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">(404,215</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;">) </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">1,884,640</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td> </tr> <tr> <td style="vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div> Additions </div> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">203,314</td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">  - </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">203,314</td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> </tr> <tr> <td style="vertical-align: bottom;"> <div> Depreciation </div> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">  - </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">(91,906</td><td style="width: 1%; text-align: left; vertical-align: bottom;">) </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">(91,906</td><td style="width: 1%; text-align: left; vertical-align: bottom;">) </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div> Disposals </div> </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">(61,111</td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;">) </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">27,951</td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">(33,160</td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;">) </td> </tr> <tr> <td style="vertical-align: bottom; font-weight: bold;"> <div> As of December 31, 2025 </div> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">2,431,058</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">(468,170</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;">) </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid black;">1,962,888</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> <td style="width: 9%; vertical-align: bottom;"> </td><td style="width: 1%; vertical-align: bottom;"> </td> </tr> <tr> <td style="vertical-align: bottom;"> <div> Additions </div> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">53,279</td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">  - </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 1%; vertical-align: bottom;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom;">53,279</td><td style="width: 1%; text-align: left; vertical-align: bottom;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div> Depreciation </div> </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">  - </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">(49,727</td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;">) </td> <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid black;"> </td> <td style="width: 9%; text-align: right; vertical-align: bottom; border-bottom: 2px solid black;">(49,727</td><td style="width: 1%; text-align: left; vertical-align: bottom; border-bottom: 2px solid transparent;">) </td> </tr> <tr> <td style="vertical-align: bottom; font-weight: bold;"> <div> As of June 30, 2026 </div> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">2,484,337</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;"> </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">(517,897</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;">) </td> <td style="width: 1%; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;"> </td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">$</td> <td style="width: 9%; text-align: right; vertical-align: bottom; font-weight: bold; border-bottom: 4px double black;">1,966,440</td><td style="width: 1%; text-align: left; vertical-align: bottom; font-weight: bold; border-bottom: 4px double transparent;"> </td> </tr> </table> 2288855000 404215000 1884640000 203314000 203314000 91906000 91906000 61111000 27951000 33160000 2431058000 468170000 1962888000 53279000 53279000 49727000 49727000 2484337000 517897000 1966440000 12226000 12979000 8586 8586 3 90000000 2 1 8586 On June 17, 2026, the Company entered into a loan agreement to finance the acquisition of the three ECO 8,586 TEU Vessels (Note 7a).<table style="border-spacing: 0px; border-collapse: collapse; font-size: 10pt; width: 100%;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td></tr><tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor;"> <div style="text-align: center;"> <span style="font-weight: bold;">Name</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <div style="text-align: center;"> <span style="font-weight: bold;">Capacity in TEUs</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <div> <span style="font-weight: bold;">Year Built</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; text-align: center; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <div> <span style="font-weight: bold;">Purchase Price</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> <div style="text-align: center;"> <span style="font-weight: bold;">Delivery date</span> </div> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> Koi (*) </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 8,586 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 2011 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> $30,000 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> December 29, 2025 </div> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; vertical-align: middle;"> <div style="text-align: center;"> Lotus A (*) </div> </td> <td style="padding: 0px; vertical-align: middle;"> <div style="text-align: center;"> 8,586 </div> </td> <td style="padding: 0px; vertical-align: middle;"> <div style="text-align: center;"> 2010 </div> </td> <td style="padding: 0px;"> <div style="text-align: center;"> $30,000 </div> </td> <td style="padding: 0px;"> <div style="text-align: center;"> December 12, 2025 </div> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> Cypress (*) </div> </td> <td style="padding: 0px; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 8,586 </div> </td> <td style="padding: 0px; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 2011 </div> </td> <td style="padding: 0px; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> $30,000 </div> </td> <td style="padding: 0px; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> January 9, 2026 </div> </td> </tr> </table><div>  </div><div style="text-align: justify;"> (*) The charters of the ECO 8,586 TEU Vessels resulted in an intangible liability of $57,183 that was recognized and will be amortized over the remaining useful life of the charters. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In January 2025, the Company took delivery of the fourth ECO 9,019 TEU Vessel as per below: </div><div>  </div><table style="border-spacing: 0px; border-collapse: collapse; font-size: 10pt; width: 100%;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td><td style="width: 20%;"> </td></tr><tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; text-align: center;"> <div> <span style="font-weight: bold;">Name</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> <div style="text-align: center;"> <span style="font-weight: bold;">Capacity in TEUs</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; text-align: center;"> <div> <span style="font-weight: bold;">Year Built</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); vertical-align: middle; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; text-align: center;"> <div> <span style="font-weight: bold;">Purchase Price</span> </div> </td> <td style="padding: 0px; border-bottom: 2px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> <div style="text-align: center;"> <span style="font-weight: bold;">Delivery date</span> </div> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> Czech (*) </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 9,019 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255); vertical-align: middle;"> <div style="text-align: center;"> 2015 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> $68,391 </div> </td> <td style="padding: 0px; border-top: 1pt solid black; background-color: rgb(204, 236, 255);"> <div style="text-align: center;"> January 9, 2025 </div> </td> </tr> </table><div>  </div><div style="text-align: justify;"> (*) The charter of the fourth ECO 9,019 TEU Vessel resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. As of December 31, 2024, the Company had paid $6,850 advance for this vessel acquisition. </div> 8586 8586 2011 30000000 December 29, 2025 8586 2010 30000000 December 12, 2025 8586 2011 30000000 January 9, 2026 8586 57183000 9019 9019 2015 68391000 January 9, 2025 9019 15987000 6850000 4 65500000 4 350000000 0.0569 35600000 35085000 350000000 0.0569 17943000 2207 11944000 350000000 0.0569 7121000 5936 30846000 350000000 0.0569 17929000 2220 10693000 350000000 0.0569 3279000 15 1329863000 15 124340000 0 <div style="text-align: justify;"> As of June 30, 2026, the future remaining contractual commitments for the 15 container vessels under construction were as follows: </div><div style="text-align: justify;">  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 88%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; font-size: 0px;"> </td> <td style="border-width: medium; border-style: none; border-color: currentcolor; text-align: center; width: 1%;"><br/></td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;"><span style="font-weight: 700; letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount</span></td><td style="border-width: medium; border-style: none; border-color: currentcolor; text-align: center; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2027 </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">74,463</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2028 </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">88,887</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2029 </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">670,756</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2030 </div> </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid black;">371,417</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; padding-left: 10px;"> <div> <span style="font-weight: bold;">Total contractual commitments</span> </div> </td> <td style="text-align: right; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">1,205,523</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table> 15 74463000 88887000 670756000 371417000 1205523000 4 0 11 0.0569 39 21 124340000 5043000 30200000 5761000 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">4.</span> </div> <div> <span style="font-weight: bold;">Inventories</span> </div> </div><div style="margin-left: 36pt; clear: both;">  </div><div> Inventories as at June 30, 2026, and December 31, 2025, consisted of the following: </div><div>  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr> <td> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr> <td> </td> <td style="width: 1%;"> </td><td style="width: 1%; font-weight: bold; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> </td> <td style="width: 9%; font-weight: bold; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;">June 30,<br/> 2026</td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%; font-weight: bold; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> </td> <td style="width: 9%; font-weight: bold; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;">December 31, 2025</td><td style="width: 1%;"> </td> </tr><tr style="background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Bunkers </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;">$</td> <td style="text-align: right; width: 9%;"> - </td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;">$</td> <td style="text-align: right; width: 9%;">452</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr> <td style="text-indent: -10px; padding-left: 10px;"> <div> Lubricants </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 9%;">14,617</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 9%;">13,466</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> EUAs </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 9%;">7,067</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 9%;">86</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr> <td style="text-indent: -10px; padding-left: 10px;"> <div> Victualling </div> </td> <td style="width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="text-align: right; width: 9%; border-bottom: 2px solid black;">673</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="text-align: right; width: 9%; border-bottom: 2px solid black;">596</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div><b> Total </b></div> </td> <td style="width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 4px double black; font-weight: bold;">$</td> <td style="text-align: right; width: 9%; border-bottom: 4px double black; font-weight: bold;">22,357</td><td style="text-align: left; width: 1%; border-bottom: 4px double transparent;"> </td> <td style="width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 4px double black; font-weight: bold;">$</td> <td style="text-align: right; width: 9%; border-bottom: 4px double black; font-weight: bold;">14,600</td><td style="text-align: left; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table> <div> Inventories as at June 30, 2026, and December 31, 2025, consisted of the following: </div><div>  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr> <td> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr> <td> </td> <td style="width: 1%;"> </td><td style="width: 1%; font-weight: bold; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> </td> <td style="width: 9%; font-weight: bold; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;">June 30,<br/> 2026</td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%; font-weight: bold; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> </td> <td style="width: 9%; font-weight: bold; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;">December 31, 2025</td><td style="width: 1%;"> </td> </tr><tr style="background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Bunkers </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;">$</td> <td style="text-align: right; width: 9%;"> - </td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;">$</td> <td style="text-align: right; width: 9%;">452</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr> <td style="text-indent: -10px; padding-left: 10px;"> <div> Lubricants </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 9%;">14,617</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 9%;">13,466</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> EUAs </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 9%;">7,067</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 9%;">86</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr> <td style="text-indent: -10px; padding-left: 10px;"> <div> Victualling </div> </td> <td style="width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="text-align: right; width: 9%; border-bottom: 2px solid black;">673</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="text-align: right; width: 9%; border-bottom: 2px solid black;">596</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div><b> Total </b></div> </td> <td style="width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 4px double black; font-weight: bold;">$</td> <td style="text-align: right; width: 9%; border-bottom: 4px double black; font-weight: bold;">22,357</td><td style="text-align: left; width: 1%; border-bottom: 4px double transparent;"> </td> <td style="width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 4px double black; font-weight: bold;">$</td> <td style="text-align: right; width: 9%; border-bottom: 4px double black; font-weight: bold;">14,600</td><td style="text-align: left; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table> 0 452000 14617000 13466000 7067000 86000 673000 596000 22357000 14600000 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">5.</span> </div> <div> <span style="font-weight: bold;">Intangible Liabilities – Charter Agreements</span> </div> </div><div style="clear: both;">  </div><div> Intangible Liabilities – Charter Agreements as of June 30, 2026, and December 31, 2025, consisted of the following: </div><div> </div><table cellpadding="0" style="font-size: 10pt; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 76%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td></tr><tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes;height:1.0pt"> <td style="height: 1pt;" valign="top"> </td> <td style="width: 1%;" valign="top"> </td><td style="text-align: center; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" valign="top"> </td><td style="height: 1pt; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right; width: 9%;" valign="top"> <div style="margin: 0in;"><b style="font-size: 10pt;">June 30, <br/>2026</b></div> </td><td style="width: 1%;" valign="top"> </td> <td style="width: 1%;" valign="top"> </td><td style="text-align: center; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" valign="top"> </td><td style="height: 1pt; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right; width: 9%;" valign="top"> <div style="margin: 0in;"><b style="font-size: 10pt;">December 31, 2025</b></div> </td><td style="width: 1%;" valign="top"> </td> </tr> <tr style="height: 1pt; background-color: rgb(204, 238, 255);"> <td style="height: 1pt; text-indent: -10px; padding-left: 10px;" valign="top"> <div style="margin: 0in;">Opening balance</div> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%;" valign="top">$</td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%;" valign="top">90,054</td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%;" valign="top">$</td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%;" valign="top">49,431</td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td> </tr> <tr style="mso-yfti-irow:2;height:1.0pt"> <td style="height: 1pt; text-indent: -10px; padding-left: 10px;" valign="top"> <div style="margin: 0in;">Additions ^(*)</div> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%;" valign="top">19,061</td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%;" valign="top">54,109</td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td> </tr> <tr style="height: 1pt; background-color: rgb(204, 238, 255);"> <td style="height: 1pt; text-indent: -10px; padding-left: 10px;" valign="top"> <div style="margin: 0in;">Amortization </div> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 2px solid black;" valign="top"> </td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%; border-bottom: 2px solid black;" valign="top">(12,672</td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 2px solid transparent;" valign="top">) </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 2px solid black;" valign="top"> </td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%; border-bottom: 2px solid black;" valign="top">(13,486</td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 2px solid transparent;" valign="top">) </td> </tr> <tr style="mso-yfti-irow:4;mso-yfti-lastrow:yes;height:1.0pt"> <td style="height: 1pt; text-indent: -10px; padding-left: 10px;" valign="top"> <div style="margin: 0in;"><b style="mso-bidi-font-weight:normal">Total </b></div> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 4px double black; font-weight: bold;" valign="top">$</td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%; border-bottom: 4px double black; font-weight: bold;" valign="top">96,443</td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 4px double transparent;" valign="top"> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 4px double black; font-weight: bold;" valign="top">$</td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%; border-bottom: 4px double black; font-weight: bold;" valign="top">90,054</td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 4px double transparent;" valign="top"> </td> </tr> </table><div> </div><div style="text-align: justify;"> (*) During the first quarter of 2025, the charter of the fourth ECO 9,019 TEU Vessel resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. During December 2025, the charters of the first two ECO 8,586 TEU Vessels and during January 2026, the charter of the third ECO 8,586 TEU Vessel, resulted in an intangible liability of $38,122 and $19,061, respectively, that was recognized and will be amortized over the remaining useful life of the charters. </div><div>  </div><div style="text-align: justify;"> Intangible liabilities are related to (a) acquisition of the four ECO 9,019 TEU Vessels delivered in December 2024 and January 2025 (the charters of which resulted in an intangible liability of $49,295), (b) acquisition of the three ECO 8,586 TEU Vessels, out of which two were delivered in December 2025 and one in January 2026 (the charters of which resulted in an intangible liability of $57,183), and (c) management’s estimate of the fair value of below-market charters on August 14, 2008, the date of the Marathon Merger. These intangible liabilities are being amortized over the remaining life of the relevant lease terms and the amortization income is included under the caption “Amortization of intangible liabilities-charter agreements” in the interim unaudited condensed Consolidated Statements of Income. </div><div>  </div><div style="text-align: justify;"> Amortization income of intangible liabilities-charter agreements for each of the six months ended June 30, 2026, and 2025 was $12,672 and $6,533, respectively. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The aggregate amortization of the intangible liabilities in each of the 12-month periods up to June 30, 2031, is estimated to be as follows:</div><div style="text-align: justify;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 88%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td style="vertical-align: bottom;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse;"> </td><td style="text-align: left; vertical-align: top; border-spacing: 0px; border-collapse: collapse; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td> <td style="vertical-align: bottom; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="font-weight: 700; letter-spacing: normal; text-align: center; white-space: nowrap; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount</span></td><td style="vertical-align: bottom; text-align: left;"> </td> </tr><tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> June 30, 2027 </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">25,772</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> June 30, 2028 </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">25,842</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> June 30, 2029 </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">25,772</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> June 30, 2030 </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">18,811</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> June 30, 2031 </div> </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid black;">246</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; font-size: 0px;"> </td> <td style="text-align: right; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">96,443</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table><div style="text-align: justify;">  </div><div> The weighted average life for the remaining intangible liabilities-charter agreements terms is 3.8 year. </div> <div> Intangible Liabilities – Charter Agreements as of June 30, 2026, and December 31, 2025, consisted of the following: </div><div> </div><table cellpadding="0" style="font-size: 10pt; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 76%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td></tr><tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes;height:1.0pt"> <td style="height: 1pt;" valign="top"> </td> <td style="width: 1%;" valign="top"> </td><td style="text-align: center; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" valign="top"> </td><td style="height: 1pt; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right; width: 9%;" valign="top"> <div style="margin: 0in;"><b style="font-size: 10pt;">June 30, <br/>2026</b></div> </td><td style="width: 1%;" valign="top"> </td> <td style="width: 1%;" valign="top"> </td><td style="text-align: center; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" valign="top"> </td><td style="height: 1pt; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right; width: 9%;" valign="top"> <div style="margin: 0in;"><b style="font-size: 10pt;">December 31, 2025</b></div> </td><td style="width: 1%;" valign="top"> </td> </tr> <tr style="height: 1pt; background-color: rgb(204, 238, 255);"> <td style="height: 1pt; text-indent: -10px; padding-left: 10px;" valign="top"> <div style="margin: 0in;">Opening balance</div> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%;" valign="top">$</td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%;" valign="top">90,054</td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%;" valign="top">$</td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%;" valign="top">49,431</td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td> </tr> <tr style="mso-yfti-irow:2;height:1.0pt"> <td style="height: 1pt; text-indent: -10px; padding-left: 10px;" valign="top"> <div style="margin: 0in;">Additions ^(*)</div> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%;" valign="top">19,061</td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%;" valign="top">54,109</td><td style="margin: 0in; text-align: left; width: 1%;" valign="top"> </td> </tr> <tr style="height: 1pt; background-color: rgb(204, 238, 255);"> <td style="height: 1pt; text-indent: -10px; padding-left: 10px;" valign="top"> <div style="margin: 0in;">Amortization </div> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 2px solid black;" valign="top"> </td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%; border-bottom: 2px solid black;" valign="top">(12,672</td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 2px solid transparent;" valign="top">) </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 2px solid black;" valign="top"> </td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%; border-bottom: 2px solid black;" valign="top">(13,486</td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 2px solid transparent;" valign="top">) </td> </tr> <tr style="mso-yfti-irow:4;mso-yfti-lastrow:yes;height:1.0pt"> <td style="height: 1pt; text-indent: -10px; padding-left: 10px;" valign="top"> <div style="margin: 0in;"><b style="mso-bidi-font-weight:normal">Total </b></div> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 4px double black; font-weight: bold;" valign="top">$</td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%; border-bottom: 4px double black; font-weight: bold;" valign="top">96,443</td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 4px double transparent;" valign="top"> </td> <td style="margin: 0in; width: 1%;" valign="top"> </td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 4px double black; font-weight: bold;" valign="top">$</td><td style="height: 1pt; margin: 0in; text-align: right; width: 9%; border-bottom: 4px double black; font-weight: bold;" valign="top">90,054</td><td style="margin: 0in; text-align: left; width: 1%; border-bottom: 4px double transparent;" valign="top"> </td> </tr> </table><div> </div><div style="text-align: justify;"> (*) During the first quarter of 2025, the charter of the fourth ECO 9,019 TEU Vessel resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. During December 2025, the charters of the first two ECO 8,586 TEU Vessels and during January 2026, the charter of the third ECO 8,586 TEU Vessel, resulted in an intangible liability of $38,122 and $19,061, respectively, that was recognized and will be amortized over the remaining useful life of the charters. </div> 90054000 49431000 19061000 54109000 12672000 13486000 96443000 90054000 9019 15987000 8586 8586 38122000 19061000 4 9019 49295000 3 8586 2 1 57183000 12672000 6533000 <div style="text-align: justify;"> The aggregate amortization of the intangible liabilities in each of the 12-month periods up to June 30, 2031, is estimated to be as follows:</div><div style="text-align: justify;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 88%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td style="vertical-align: bottom;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse;"> </td><td style="text-align: left; vertical-align: top; border-spacing: 0px; border-collapse: collapse; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td> <td style="vertical-align: bottom; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="font-weight: 700; letter-spacing: normal; text-align: center; white-space: nowrap; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount</span></td><td style="vertical-align: bottom; text-align: left;"> </td> </tr><tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> June 30, 2027 </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">25,772</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> June 30, 2028 </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">25,842</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> June 30, 2029 </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">25,772</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> June 30, 2030 </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">18,811</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; text-indent: -10px; padding-left: 10px;"> <div> June 30, 2031 </div> </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid black;">246</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; font-size: 0px;"> </td> <td style="text-align: right; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">96,443</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table> 25772000 25842000 25772000 18811000 246000 96443000 P3Y9M18D <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">6.</span> </div> <div> <span style="font-weight: bold;">Derivative Assets and other financial instruments</span> </div> </div><div style="clear: both;">  </div><div style="text-align: justify;"> In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $484,106, which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings. The Company receives payments on the caps for any period that the one-month USD <span style="-sec-ix-hidden: hidden-fact-121">LIBOR</span> rate is above the strike rate, which is 0.75%. The termination date of the interest rate cap agreements is November 30, 2026. The premium paid to purchase the interest caps was $7,000, which was paid out of cash on December 22, 2021. The premium is being amortized over the life of the interest rate cap by using the caplet method. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In February 2022, the Company further hedged its exposure to a potential rising interest rate environment by putting in place two USD one-month <span style="-sec-ix-hidden: hidden-fact-122">LIBOR</span> interest rate caps of 0.75% through fourth quarter 2026, on $507,891 of its floating rate debt. The second interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $1,113 as at June 30, 2026 ($2,831 negative fair value adjustment as at June 30, 2025), was recorded through interim unaudited condensed Consolidated Statement of Income. The premium paid by the Company to purchase the interest rate caps was $15,370, which was paid out of cash on the settlement date. ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, the Company has designated only a portion of its outstanding debt (initially $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged. Amount received from interest rate caps for each of the six-month periods ended June 30, 2026, and 2025, was $4,067 and $9,133, respectively. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On April 4, 2024, the Company entered into an FX option to purchase €3,000, with monthly settlements that started on April 11, 2024 and ended on March 13, 2025. The initial value of the excluded component was equal to the option premium of €417 and was recognized in earnings using the amortization approach as per ASC 815-20-25-83A. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In January 2026, the Company entered into a series of FX Reverse Convertible transactions for a total amount of $33,000. These instruments are USD-denominated structured notes with returns linked to the EUR/USD exchange rate. Each instrument has a fixed coupon payable at maturity USD capital protected and is subject to potential principal conversion into EUR if the EUR/USD exchange rate falls below the specified strike. Each instrument is a hybrid financial instrument and an embedded foreign exchange option. The Company has elected the Fair Value Option under ASC 825 for these structured instruments. As of June 30, 2026, $12,000 of the FX Reverse Convertible instruments have matured. Under the fair value option, as of June 30, 2026, the instruments are presented as assets measured at fair value amounting to $20,986 ($nil as of December 31, 2025) in the interim unaudited condensed Consolidated Balance Sheets in the line item “Derivative assets and other financial instruments”. As of June 30, 2026, a negative fair value adjustment amounting to $73 ($nil as of June 30, 2025) is recognized in the interim unaudited condensed Consolidated Statements of Income in the line item “Fair value adjustment on derivative asset <span style="font-size: 10pt;">and other financial instruments”. </span></div><div style="text-align: justify;"> </div><table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; margin-right: 0px; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; font-size: 0px;"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td><td colspan="1" style="vertical-align: bottom; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap; width: 1%;"> </td><td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap;"> <span style="font-weight: bold;">June 30, <br/> 2026</span> </td><td colspan="1" style="vertical-align: bottom; text-align: right; border-width: medium; border-style: none; border-color: currentcolor; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap;"> <span style="font-weight: bold;">December 31, <br/> 2025</span> </td><td style="vertical-align: bottom; text-align: right; border-width: medium; border-style: none; border-color: currentcolor; white-space: nowrap; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> <span style="font-weight: bold;">Opening balance</span> </div> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium; border-style: none; border-color: currentcolor;">5,234</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium; border-style: none; border-color: currentcolor;">20,406</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> FX Reverse Convertible instruments </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">33,000</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> FX Reverse Convertible instruments settlements/matured contracts </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(12,000</td><td style="text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; vertical-align: middle;">) </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> FX option premium </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">194</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> Unrealized loss on derivative assets (interest rate caps) </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(2,153</td><td style="text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; vertical-align: middle;">) </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(10,217</td><td style="text-align: left; width: 1%; vertical-align: middle;">) </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> Unrealized loss on FX option </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(197</td><td style="text-align: left; width: 1%; vertical-align: middle;">) </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> Realized loss on FX Reverse Convertible instruments settlements/matured contracts </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">59</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> Fair value adjustment on derivative asset (interest rate caps) </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(1,113</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">) </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(4,952</td><td style="text-align: left; width: 1%; vertical-align: middle;">) </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> Fair value adjustment on FX Reverse Convertible instruments </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(73</td><td style="text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; vertical-align: top;">) </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> <span style="font-weight: bold;">Closing balance</span> </div> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium; border-style: none; border-color: currentcolor;">22,954</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium; border-style: none; border-color: currentcolor;">5,234</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> Less: Current portion of derivative assets (interest rate caps) and other financial instruments </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 9%;">(22,954</td><td style="border-width: medium; border-style: none; border-color: currentcolor; text-align: left; width: 1%; vertical-align: top;">) </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(5,234</td><td style="text-align: left; width: 1%; vertical-align: top;">) </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> <span style="font-weight: bold;">Non-current portion of derivative assets (interest rate caps) and other financial instruments</span> </div> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium medium 4px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium medium 4px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);"> - </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom-width: medium; border-bottom-style: none; border-bottom-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium medium 4px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium medium 4px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);"> - </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> </table><div>  </div><div style="text-align: justify;"> The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. The Company assesses the effectiveness of the hedges on an ongoing basis. As of June 30, 2026, the interest rate cap notional amount covers ~38% of the outstanding floating debt. </div> 484106000 P1M 0.0075 7000000 2 P1M 0.0075 507891000 -1113000 -2831000 15370000 253946000 4067000 9133000 3000000 417000 33000000 -12000000 20986000 0 As of June 30, 2026, a negative fair value adjustment amounting to $73 ($nil as of June 30, 2025) is recognized in the interim unaudited condensed Consolidated Statements of Income in the line item “Fair value adjustment on derivative asset <span style="font-size: 10pt;">and other financial instruments”. </span><table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; margin-right: 0px; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; font-size: 0px;"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td><td colspan="1" style="vertical-align: bottom; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap; width: 1%;"> </td><td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap;"> <span style="font-weight: bold;">June 30, <br/> 2026</span> </td><td colspan="1" style="vertical-align: bottom; text-align: right; border-width: medium; border-style: none; border-color: currentcolor; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); white-space: nowrap;"> <span style="font-weight: bold;">December 31, <br/> 2025</span> </td><td style="vertical-align: bottom; text-align: right; border-width: medium; border-style: none; border-color: currentcolor; white-space: nowrap; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> <span style="font-weight: bold;">Opening balance</span> </div> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium; border-style: none; border-color: currentcolor;">5,234</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium; border-style: none; border-color: currentcolor;">20,406</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> FX Reverse Convertible instruments </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">33,000</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> FX Reverse Convertible instruments settlements/matured contracts </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(12,000</td><td style="text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; vertical-align: middle;">) </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> FX option premium </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">194</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> Unrealized loss on derivative assets (interest rate caps) </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(2,153</td><td style="text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; vertical-align: middle;">) </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(10,217</td><td style="text-align: left; width: 1%; vertical-align: middle;">) </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> Unrealized loss on FX option </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(197</td><td style="text-align: left; width: 1%; vertical-align: middle;">) </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> Realized loss on FX Reverse Convertible instruments settlements/matured contracts </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">59</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> Fair value adjustment on derivative asset (interest rate caps) </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(1,113</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">) </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="vertical-align: bottom; text-align: right; width: 9%;">(4,952</td><td style="text-align: left; width: 1%; vertical-align: middle;">) </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> Fair value adjustment on FX Reverse Convertible instruments </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(73</td><td style="text-align: left; width: 1%; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; vertical-align: top;">) </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">  - </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> <span style="font-weight: bold;">Closing balance</span> </div> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium; border-style: none; border-color: currentcolor;">22,954</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium; border-style: none; border-color: currentcolor;">5,234</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div> Less: Current portion of derivative assets (interest rate caps) and other financial instruments </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: left; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 9%;">(22,954</td><td style="border-width: medium; border-style: none; border-color: currentcolor; text-align: left; width: 1%; vertical-align: top;">) </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="vertical-align: bottom; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(5,234</td><td style="text-align: left; width: 1%; vertical-align: top;">) </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div> <span style="font-weight: bold;">Non-current portion of derivative assets (interest rate caps) and other financial instruments</span> </div> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium medium 4px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium medium 4px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);"> - </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom-width: medium; border-bottom-style: none; border-bottom-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;"> </td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-width: medium medium 4px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">$</td><td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-width: medium medium 4px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);"> - </td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> </table> -73000 0 5234000 20406000 33000000 0 -12000000 0 0 194000 -2153000 -10217000 0 -197000 59000 0 -1113000 -4952000 -73000 0 22954000 5234000 22954000 5234000 0 0 0.38 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">7.</span> </div> <div> <span style="font-weight: bold;">Long-Term Debt</span> </div> </div><div style="margin-left: 28.35pt; clear: both;">  </div><div> Long-term debt as of June 30, 2026, and December 31, 2025, consisted of the following: </div><div>  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: top; height: 1.0pt;"> <td> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Facilities</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> </td><td style="width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> <div> <span style="font-weight: bold;">June 30,</span><span> </span><span style="font-weight: bold; font-size: 10pt;">2026</span></div> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> </td><td style="width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> <div> <span style="font-weight: bold;">December 31,</span><span> </span><span style="font-weight: bold; font-size: 10pt;">2025</span></div> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> BofA Credit Facility (a) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;">$</td><td style="text-align: right; width: 9%;">55,500</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;">$</td><td style="text-align: right; width: 9%;"> - </td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> UBS Credit Facility (b) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">57,000</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">71,000</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> 2024 Senior Secured Term Loan Facility (c) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">216,000</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">240,000</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> 2027 Secured Notes (d) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">153,125</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">179,375</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> <span style="font-weight: bold;">Total credit facilities</span> </div> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 2px solid black;">481,625</td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 2px solid black;">490,375</td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> <span style="font-weight: bold;">Sale and Leaseback Agreements </span> </div> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Minsheng Sale and Leaseback Agreements - $178,000 (h) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">159,888</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">166,788</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> CMBFL Sale and Leaseback Agreements - $120,000 (i) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">34,912</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">37,546</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> <span style="font-weight: bold;">Total Sale and Leaseback Agreements</span> </div> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 2px solid black;">194,800</td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">204,334</td><td style="font-weight: bold; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> <span style="font-weight: bold;">Total borrowings</span> </div> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 2px solid black;"><div style="-sec-ix-hidden: hidden-fact-123">676,425</div></td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 2px solid black;"><div style="-sec-ix-hidden: hidden-fact-124">694,709</div></td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Less: Current portion of long-term debt </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">(135,437</td><td style="text-align: left; width: 1%;">) </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">(128,500</td><td style="text-align: left; width: 1%;">) </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Less: Current portion of Sale and Leaseback Agreements (h, i) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">(19,067</td><td style="text-align: left; width: 1%;">) </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">(19,067</td><td style="text-align: left; width: 1%;">) </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Less: Deferred financing costs (k) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">(4,661</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">(5,567</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> <span style="font-weight: bold;">Non-current portion of Long-Term Debt</span> </div> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 4px double black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 4px double black;"><div style="-sec-ix-hidden: hidden-fact-125">517,260</div></td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 4px double transparent;"> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 4px double black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 4px double black;"><div style="-sec-ix-hidden: hidden-fact-126">541,575</div></td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table><div>  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Facilities and Senior Secured Notes</span> </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">a)</span> </div> <div> <span style="font-weight: bold;"> $55,500 BofA Credit Facility</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> On June 17, 2026, the Company, through certain of its vessel-owning subsidiaries, entered into a $55,500 credit facility with Bank of America N.A. (the “BofA Credit Facility”). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The BofA Credit Facility is repayable in 20 equal consecutive quarterly instalments of $1,734.4, together with a final balloon payment of $20,812 payable together with the last repayment instalment due at maturity in the second quarter of <span style="-sec-ix-hidden: hidden-fact-127">2031</span>. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> This facility’s interest rate is <span style="-sec-ix-hidden: hidden-fact-128">SOFR</span> plus a margin of 1.40% per annum payable quarterly in arrears. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Following the acquisition of the three ECO 8,586 TEU vessels, which were acquired with cash, two were delivered on various dates in December 2025 and the third one on January 9, 2026, the Company subsequently secured and drew down the BofA Credit Facility. On June 18, 2026, the Company had drawn down a total of $55,167, net of $333 facility fee, to finance the acquisition of Cypress, Lotus A and Koi. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, the aggregate principal amount outstanding under the BofA Credit Facility was $55,500. </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">b)</span> </div> <div> <span style="font-weight: bold;"> $85,000 UBS Credit Facility</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> On March 26, 2025, the Company, through certain of its vessel-owning subsidiaries, entered into a $85,000 credit facility with UBS AG (the “UBS Credit Facility”). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The UBS Credit Facility is repayable in 12 equal consecutive quarterly instalments of $7,000, together with a final balloon payment of $1,000 payable together with the last repayment instalment due at maturity in the second quarter of <span style="-sec-ix-hidden: hidden-fact-129">2028</span>. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> This facility’s interest rate is <span style="-sec-ix-hidden: hidden-fact-130">SOFR</span> plus a margin of 2.15% per annum payable quarterly in arrears. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The Company used the net proceeds from the UBS Credit Facility to prepay in full, the following existing debt facilities (i) Macquarie Credit Facility (fully prepaid on April 3, 2025 the amount of $17,500), (ii) E.SUN, MICB, Cathay, Taishin Credit Facility, and (iii) HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility (fully prepaid on April 3, 2025 the amount of $46,818). On March 28, 2025, the Company fully prepaid, using cash on hand, the amount $5,900 of the E.SUN, MICB, Cathay, Taishin Credit Facility, as no drawdown of the UBS Credit Facility had taken place during the first quarter of 2025. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, the full amount under the UBS Credit Facility had been drawn and the outstanding balance was $57,000. </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">c)</span> </div> <div> <span style="font-weight: bold;">$300,000 Senior Secured Term Loan Facility CACIB, ABN, Bank of America, First Citizens Bank, CTBC</span> </div> </div><div style="margin-left: 36pt; clear: both;">  </div><div style="text-align: justify;"> On August 7, 2024, the Company, through certain of its vessel-owning subsidiaries, entered into a $300,000 senior secured term loan facility (the “2024 Senior Secured Term Loan Facility”). As of December 31, 2024, the banks in this facility were: Credit Agricole Corporate and Investment Bank (“CACIB”), ABN AMRO Bank N.V. (“ABN”), Bank of America N.A., First Citizens Bank &amp; Trust Company and CTBC Bank Co. Ltd. (“CTBC”) to refinance, or prepay, in full or in part, certain of its then-outstanding indebtedness. All three tranches were drawn down in the third quarter of 2024. The term loan facility matures in the third quarter of <span style="-sec-ix-hidden: hidden-fact-131">2030</span>. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The 2024 Senior Secured Term Loan Facility is repayable in 12 equal consecutive quarterly instalments of $12,000, four equal consecutive quarterly instalments of $10,000, four equal consecutive quarterly instalments of $8,000 and four equal consecutive quarterly instalments of $6,000 together with a final balloon payment of $60,000 on the term loan facility termination date. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> This facility’s interest rate is <span style="-sec-ix-hidden: hidden-fact-132">SOFR</span> plus a margin of 1.85% per annum payable quarterly in arrears. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The Company used the net proceeds from the 2024 Senior Secured Term Loan Facility to refinance or prepay, in full or in part, the following (a) existing debt facilities (i) Sinopac Credit Facility, (ii) Deutsche Bank Credit Facility, (iii) HCOB Credit Facility, (iv) CACIB, Bank Sinopac, CTBC Credit Facility, (v) Chailease Credit Facility, (vi) Syndicated Senior Secured Credit Facility (CACIB, ABN, First-Citizens &amp; Trust Company, Siemens, CTBC, Bank Sinopac, Palatine), (vii) Macquarie loan and (viii) E.SUN, MICB, Cathay, Taishin Credit Facility and (b) existing sale and lease back agreements (i) $54,000 CMBFL Sale and Leaseback Agreement –and (ii) Neptune Sale and Leaseback Agreement. The refinancing transaction was accounted as a debt extinguishment. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, the aggregate principal amount outstanding under the 2024 Senior Secured Term Loan Facility was $216,000.<span style="font-weight: bold;"> </span> </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">d)</span> </div> <div> <span style="font-weight: bold;">5.69% Senior Secured Notes due 2027</span>  </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> On June 16, 2022, Knausen Holding LLC (the "Issuer"), an indirect wholly-owned subsidiary of the Company, closed on the private placement of $350,000, led by Goldman Sachs &amp; Co. LLC., of publicly rated/investment grade 5.69% Senior Secured Notes due 2027 (the “2027 Secured Notes”) to a limited number of accredited investors. The fixed interest rate was determined on June 1, 2022, based on the interpolated interest rate of 2.84% plus a margin of 2.85%. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The Company used the net proceeds from the private placement for the repayment of certain of the Company’s then-outstanding indebtedness and for general corporate purposes. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> An amount equal to 15% per annum of the original principal balance of each Note is payable in equal quarterly installments on the 15th day of each of January, April, July, and October starting October 15, 2022, and the remaining unpaid principal balance shall be due and payable on the maturity date of July 15, 2027. Interest accrues on the unpaid balance of the Notes, payable quarterly on the 15th day of January, April, July, and October in each year, such interest commencing and accruing on and from June 14, 2022. </div><div>  </div><div style="text-align: justify;"> The 2027 Secured Notes are senior obligations of the Issuer, were initially secured by first priority mortgages on 20 identified vessels owned by subsidiaries of the Issuer (the “Subsidiary Guarantors”) and certain other associated assets and contract rights, as well as share pledges over the Subsidiary Guarantors. In addition, the 2027 Secured Notes are fully and unconditionally guaranteed by the Company. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During the first quarter of 2025, Tasman, Keta and Akiteta were sold. All three vessels were released as collateral under the 2027 Secured Notes. Further, Dimitris Y was contracted to be sold in May 2025, was released as collateral on July 28, 2025, and delivered to the buyers on October 13, 2025. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, Ian H, Manet, Kumasi, Julie and MSC Qingdao, have been released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, the aggregate principal amount outstanding under the 2027 Secured Notes was $153,125. </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">e)</span> </div> <div> <span style="font-weight: bold;">Macquarie Credit Facility</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> On May 18, 2023, the Company, through certain of its vessel-owning subsidiaries, entered into a credit facility agreement with Macquarie Bank Limited for an amount of $76,000 to finance part of the acquisition cost of four containerships, each with a carrying capacity of, 8,544 TEU vessels for an aggregate purchase price of $123,300 (the “Macquarie Credit Facility”). The vessels were delivered during the second quarter of 2023. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> All four tranches were drawn down in the second quarter of 2023 and the credit facility had maturity in <span style="-sec-ix-hidden: hidden-fact-133">May 2026</span>. The facility was repayable in two equal consecutive quarterly instalments of $5,000, six equal consecutive quarterly instalments of $6,000 and one quarterly instalments of $3,000 and two equal consecutive quarterly instalments of $1,000 with a final balloon payment of $25,000 payable three years after the first utilization date. This facility’s interest rate was <span style="-sec-ix-hidden: hidden-fact-134">SOFR</span> plus a margin of 3.50% per annum payable quarterly in arrears. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On September 10, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility to partially prepay the amount of $18,500 under this facility (prepayment was deducted from the final balloon payment). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The Company used the net proceeds from the UBS Credit Facility (see Note 7a) and prepaid in full, the following existing debt facilities: (i) Macquarie Credit Facility (fully prepaid on April 3, 2025 the amount of $17,500), (ii) E.SUN, MICB, Cathay, Taishin Credit Facility, and (iii) HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility (fully prepaid on April 3, 2025 the amount of $46,818). On March 28, 2025, the Company fully prepaid with its own cash the amount $5,900 of E.SUN, MICB, Cathay, Taishin Credit Facility, as no drawdown of the UBS Credit Facility had taken place during the first quarter of 2025. Prepayment fee on full repayment of Macquarie Credit Facility was $175. </div><div>  </div><div> As of June 30, 2026, the outstanding balance of this facility was $nil. </div><div>  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">f)</span> </div> <div> <span style="font-weight: bold;">$60,000 E.SUN, MICB, Cathay, Taishin Credit Facility</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> On December 30, 2021, the Company, through certain of its vessel-owning subsidiaries, entered into a syndicated senior secured debt facility with E.SUN Commercial Bank Ltd (“E.SUN”), Cathay United Bank (“Cathay”), Mega International Commercial Bank Co. Ltd (“MICB”) and Taishin International Bank (“Taishin”) (the “E.SUN, MICB Cathay, Taishin Credit Facility”). The Company used a portion of the net proceeds from this credit facility to fully prepay certain of the Company’s then-outstanding indebtedness. All three tranches were drawn down in January 2022. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The facility was repayable in eight equal consecutive quarterly instalments of $4,500 and ten equal consecutive quarterly instalments of $2,400. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> This facility’s interest was <span style="-sec-ix-hidden: hidden-fact-135">SOFR</span> plus a margin of 2.75% per annum plus Credit Adjustment Spread (“CAS”) payable quarterly in arrears. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On September 11, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility to partially prepay the amount of $8,500 under this facility. Following the prepayment, the outstanding balance of the facility was repayable in four equal consecutive quarterly instalments of $2,400 and one quarterly instalment of $1,100 and new maturity would have been in <span style="-sec-ix-hidden: hidden-fact-136">October 2025</span> from <span style="-sec-ix-hidden: hidden-fact-137">July 2026</span>. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On March 28, 2025, the Company fully prepaid the amount of $5,900 under this facility with its own cash, as no drawdown of the UBS Credit Facility had taken place during the first quarter of 2025 (see Note 7b). </div><div>  </div><div> As of June 30, 2026, the outstanding balance of this facility was $nil. </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">g)</span> </div> <div> <span style="font-weight: bold;">$140,000 HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> On July 6, 2021, the Company, through certain of its vessel-owning subsidiaries, entered into a facility with CACIB, Hamburg Commercial Bank AG (“HCOB”), ESUN, CTBC and Taishin for a total of $140,000 to finance the acquisition of the Twelve Vessels (the “HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility”). The full amount was drawn down in July 2021 and the credit facility had a maturity in <span style="-sec-ix-hidden: hidden-fact-138">July 2026</span>. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The facility was repayable in six equal consecutive quarterly instalments of $8,000, eight equal consecutive quarterly instalments of $5,400 and six equal consecutive quarterly instalments of $2,200 with a final balloon payment of $35,600 payable together with the final instalment. On March 23, 2023, due to the sale of GSL Amstel, the Company repaid $2,838 on this facility of which $1,000 was deducted from the final balloon payment, and the vessel was released as collateral. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> This facility’s interest rate was <span style="-sec-ix-hidden: hidden-fact-139">SOFR</span> plus a margin of 3.25% per annum plus CAS payable quarterly in arrears. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The Company used the net proceeds from the UBS Credit Facility (see Note 7a) to prepay in full, the following existing debt facilities (i) Macquarie Credit Facility, (ii) E.SUN, MICB, Cathay, Taishin Credit Facility, and (iii) HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, the outstanding balance of this facility was $nil. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Sale and leaseback agreements (finance leases)</span> </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">h)</span> </div> <div> <span style="font-weight: bold;">$178,000 Sale and Leaseback Agreements – Minsheng Financial Leasing</span> </div> </div><div style="clear: both;">  </div><div style="text-align: justify;"> On December 23, 2024, the Company, through certain of its subsidiaries, entered into two sale and leaseback agreements with Minsheng Financial Leasing (“Minsheng Sale and Leaseback Agreements”) for $44,500, each, to finance the acquisition of two of the ECO 9,019 TEU Vessels, Bremerhaven Express, having closed in December 2024 and the other, Czech, in January 2025. As of December 31, 2024, the Company had drawn down a total of $44,500 to finance the acquisition of Bremerhaven Express. During the first quarter of 2025, the Company entered into two additional sale and leaseback agreements, $44,500 each, to finance the acquisition of the two ECO 9,019 TEU Vessels which were delivered in December 2024, Istanbul Express and Sydney Express, both then fully paid in cash. As at March 31, 2025, the Company had drawn down a total of $178,000. The Company has a purchase obligation to acquire the vessels at the end of their lease term and under ASC 842-40, the transaction has been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessels from its balance sheet and accounted for the amounts received under the sale and leaseback agreements as financial liability. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The sale and leaseback agreements are repayable in 40 equal consecutive quarterly instalments of $862.5 with a repurchase obligation of $10,000 on the final repayment date. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The sale and leaseback agreement for Bremerhaven Express matures in <span style="-sec-ix-hidden: hidden-fact-140">December 2034</span>, Istanbul Express, Sydney Express and Czech mature in <span style="-sec-ix-hidden: hidden-fact-141">January 2035</span>, and bear interest at <span style="-sec-ix-hidden: hidden-fact-142">SOFR</span> plus a margin of 2.5% per annum payable quarterly in arrears. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, the outstanding balance of these sale and leaseback agreements was $159,888. </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 28.35pt; white-space: nowrap;"> <span style="font-weight: bold;">i)</span> </div> <div> <span style="font-weight: bold;">$120,000 Sale and Leaseback Agreements – CMBFL Four Vessels </span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> On August 26, 2021, the Company, through certain of its subsidiaries, entered into four $30,000 sale and leaseback agreements with CMB Financial Leasing Co. Ltd. (“CMBFL”) to finance the acquisition of the Four Vessels (the “CMBFL Sale and Leaseback Agreements”). As at September 30, 2021, the Company had drawn down a total of $90,000. The drawdown for the fourth vessel, amounting to $30,000, took place on October 13, 2021, together with the delivery of this vessel. The Company has a purchase obligation to acquire the Four Vessels at the end of their lease terms and under ASC 842-40, the transaction has been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessels from its balance sheet and accounted for the amounts received under the sale and leaseback agreement as financial liabilities. </div><div style="text-align: justify;"> Each sale and leaseback agreement is repayable in 12 equal consecutive quarterly instalments of $1,587.5 and 12 equal consecutive quarterly instalments of $329.2 with a repurchase obligation of $7,000 on the final repayment date. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The sale and leaseback agreements for the three vessels mature in <span style="-sec-ix-hidden: hidden-fact-143">September 2027</span> and for the fourth vessel in <span style="-sec-ix-hidden: hidden-fact-144">October 2027</span> and bore interest at <span style="-sec-ix-hidden: hidden-fact-145">SOFR</span> plus a margin of 3.25% per annum plus CAS payable quarterly in arrears. From November 20, 2024, as per supplemental agreement, the sale and leaseback agreements bear interest at <span style="-sec-ix-hidden: hidden-fact-146">SOFR</span> plus a margin of 2.75% per annum. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, the outstanding balance of these sale and leaseback agreements was $34,912. </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">j)</span> </div> <div> <span style="font-weight: bold;">Repayment Schedule</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> Maturities of long-term debt for the periods subsequent to June 30, 2026, are as follows: </div><div style="text-align: justify;">  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 88%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Payment due by period ended</span> </div> </td> <td style="border-width: medium; border-style: none; border-color: currentcolor; text-align: right; width: 1%;">     </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right; vertical-align: bottom; width: 9%;"><span style="font-weight: 700; letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount</span></td><td style="border-width: medium; border-style: none; border-color: currentcolor; text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2027 </div> </td> <td style="vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; text-align: left;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">154,504</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2028 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">222,008</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2029 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">54,738</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2030 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">46,738</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2031 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">107,550</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2032 and thereafter </div> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid black;">90,887</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> </td> <td style="font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; text-align: left; border-bottom: 4px double black;">$</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">676,425</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table><div>  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">k)</span> </div> <div> <span style="font-weight: bold;">Deferred Financing Costs</span> </div> </div><div style="clear: both;">  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 76%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse;"> </td><td style="text-align: left; vertical-align: top; border-spacing: 0px; border-collapse: collapse; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td> <td style="vertical-align: middle; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">June 30, 2026</span></td><td style="vertical-align: middle; text-align: left;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse;"> </td><td style="text-align: left; vertical-align: top; border-spacing: 0px; border-collapse: collapse; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td> <td style="vertical-align: middle; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 2025</span></td><td style="vertical-align: middle; text-align: left;"> </td> </tr><tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Opening balance </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: middle; text-align: right; width: 9%;">5,567</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: middle; text-align: right; width: 9%;">7,042</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Expenditure in the period </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">333</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">2,185</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Amortization included within interest expense </div> </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">(1,239</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">(3,660</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Closing balance</span> </div> </td> <td style="text-align: right; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">4,661</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> <td style="text-align: right; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">5,567</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table><div style="text-align : justify; padding-top : 4px; "> For the period ended June 30, 2026, total costs amounting to $333 were incurred in connection with the BofA Credit Facility (see Note 7a). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During 2025, total costs amounting to $1,335 were incurred in connection with the Minsheng Sale and Leaseback Agreements (see Note 7h) and $850 in connection with the UBS Credit Facility (see Note 7b). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> For the six-month periods ended June 30, 2026, and 2025, the Company recognized a total of $1,239 and $2,257, respectively, in respect of amortization of deferred financing costs. </div><div style="text-align: justify;">  </div><div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">l)</span> </div> <div> <span style="font-weight: bold;">Debt covenants-securities</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> Amounts drawn under the facilities listed above are secured by first priority mortgages on certain of the Company’s vessels and other collateral. The credit facilities contain a number of restrictive covenants that limit the Company from, among other things: incurring or guaranteeing indebtedness; charging, pledging or encumbering the vessels; and changing the flag, class, management or ownership of the vessel owning entities. The credit facilities also require the vessels to comply with the ISM Code and ISPS Code and to maintain valid safety management certificates and documents of compliance at all times. Additionally, specific credit facilities require compliance with a number of financial covenants including asset cover ratios and minimum liquidity and corporate guarantor requirements. Among other events, it will be an event of default under the credit facilities if the financial covenants are not complied with or remedied. </div><div style="margin-left: 28.35pt;">  </div><div style="text-align: justify;"> As of June 30, 2026, and December 31, 2025, the Company was in compliance with its debt covenants. </div> <div> Long-term debt as of June 30, 2026, and December 31, 2025, consisted of the following: </div><div>  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: top; height: 1.0pt;"> <td> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Facilities</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> </td><td style="width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> <div> <span style="font-weight: bold;">June 30,</span><span> </span><span style="font-weight: bold; font-size: 10pt;">2026</span></div> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> </td><td style="width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right;"> <div> <span style="font-weight: bold;">December 31,</span><span> </span><span style="font-weight: bold; font-size: 10pt;">2025</span></div> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> BofA Credit Facility (a) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;">$</td><td style="text-align: right; width: 9%;">55,500</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;">$</td><td style="text-align: right; width: 9%;"> - </td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> UBS Credit Facility (b) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">57,000</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">71,000</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> 2024 Senior Secured Term Loan Facility (c) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">216,000</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">240,000</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> 2027 Secured Notes (d) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">153,125</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">179,375</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> <span style="font-weight: bold;">Total credit facilities</span> </div> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 2px solid black;">481,625</td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 2px solid black;">490,375</td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> <span style="font-weight: bold;">Sale and Leaseback Agreements </span> </div> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Minsheng Sale and Leaseback Agreements - $178,000 (h) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">159,888</td><td style="text-align: left; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">166,788</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> CMBFL Sale and Leaseback Agreements - $120,000 (i) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">34,912</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">37,546</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> <span style="font-weight: bold;">Total Sale and Leaseback Agreements</span> </div> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 2px solid black;">194,800</td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">204,334</td><td style="font-weight: bold; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> <span style="font-weight: bold;">Total borrowings</span> </div> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 2px solid black;"><div style="-sec-ix-hidden: hidden-fact-123">676,425</div></td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 2px solid black;"><div style="-sec-ix-hidden: hidden-fact-124">694,709</div></td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Less: Current portion of long-term debt </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">(135,437</td><td style="text-align: left; width: 1%;">) </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">(128,500</td><td style="text-align: left; width: 1%;">) </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Less: Current portion of Sale and Leaseback Agreements (h, i) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">(19,067</td><td style="text-align: left; width: 1%;">) </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td><td style="text-align: right; width: 9%;">(19,067</td><td style="text-align: left; width: 1%;">) </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="text-indent: -10px; padding-left: 10px;"> <div> Less: Deferred financing costs (k) </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">(4,661</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="text-align: right; width: 9%; border-bottom: 2px solid black;">(5,567</td><td style="text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="text-indent: -10px; padding-left: 10px;"> <div> <span style="font-weight: bold;">Non-current portion of Long-Term Debt</span> </div> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 4px double black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 4px double black;"><div style="-sec-ix-hidden: hidden-fact-125">517,260</div></td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 4px double transparent;"> </td> <td style="font-weight: bold; width: 1%;"> </td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 4px double black;">$</td><td style="font-weight: bold; text-align: right; width: 9%; border-bottom: 4px double black;"><div style="-sec-ix-hidden: hidden-fact-126">541,575</div></td><td style="font-weight: bold; text-align: left; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table> 55500000 0 57000000 71000000 216000000 240000000 153125000 179375000 481625000 490375000 178000000 159888000 166788000 120000000 34912000 37546000 194800000 204334000 676425000 694709000 135437000 128500000 19067000 19067000 4661000 5567000 517260000 541575000 55500000 55500000 20 quarterly 1734400 20812000 0.014 quarterly 3 8586 2 1 55167000 333000 55500000 85000000 85000000 12 quarterly 7000000 1000000 0.0215 quarterly 17500000 46818000 5900000 57000000 300000000 300000000 3 12 12000000 4 10000000 4 8000000 4 quarterly quarterly quarterly quarterly 6000000 60000000 0.0185 quarterly 54000000 216000000 0.0569 350000000 0.0569 0.0284 0.0285 0.15 quarterly 2027-07-15 20 3 350000000 0.0569 153125000 76000000 4 8544 123300000 4 2 5000000 6 6000000 1 3000000 2 quarterly quarterly quarterly quarterly 1000000 25000000 P3Y 0.035 18500000 17500000 46818000 5900000 175000 0 60000000 3 8 4500000 10 quarterly quarterly 2400000 0.0275 quarterly 8500000 4 2400000 1 quarterly quarterly 1100000 5900000 0 140000000 140000000 12 6 8000000 8 5400000 6 quarterly quarterly quarterly 2200000 35600000 2838000 1000000 0.0325 quarterly 0 178000000 2 44500000 44500000 2 9019 44500000 2 44500000 44500000 2 9019 178000000 40 quarterly 862500000 10000000 0.025 159888000 120000000 4 30000000 30000000 30000000 4 90000000 30000000 12 1587500 12 quarterly quarterly 329200 7000000 0.0325 0.0275 34912000 <div style="text-align: justify;"> Maturities of long-term debt for the periods subsequent to June 30, 2026, are as follows: </div><div style="text-align: justify;">  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 88%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Payment due by period ended</span> </div> </td> <td style="border-width: medium; border-style: none; border-color: currentcolor; text-align: right; width: 1%;">     </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: right; vertical-align: bottom; width: 9%;"><span style="font-weight: 700; letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount</span></td><td style="border-width: medium; border-style: none; border-color: currentcolor; text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2027 </div> </td> <td style="vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; text-align: left;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">154,504</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-width: medium; border-style: none; border-color: currentcolor;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2028 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">222,008</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2029 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">54,738</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2030 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">46,738</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2031 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">107,550</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2032 and thereafter </div> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid black;">90,887</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> </td> <td style="font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; text-align: left; border-bottom: 4px double black;">$</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">676,425</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table> 154504000 222008000 54738000 46738000 107550000 90887000 676425000 <table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 76%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top;"> <td> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse;"> </td><td style="text-align: left; vertical-align: top; border-spacing: 0px; border-collapse: collapse; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td> <td style="vertical-align: middle; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">June 30, 2026</span></td><td style="vertical-align: middle; text-align: left;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse;"> </td><td style="text-align: left; vertical-align: top; border-spacing: 0px; border-collapse: collapse; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td> <td style="vertical-align: middle; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 2025</span></td><td style="vertical-align: middle; text-align: left;"> </td> </tr><tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Opening balance </div> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: middle; text-align: right; width: 9%;">5,567</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="text-align: right; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: middle; text-align: right; width: 9%;">7,042</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Expenditure in the period </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">333</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">2,185</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Amortization included within interest expense </div> </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">(1,239</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">(3,660</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Closing balance</span> </div> </td> <td style="text-align: right; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">4,661</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> <td style="text-align: right; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">5,567</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table> 5567000 7042000 333000 2185000 -1239000 -3660000 4661000 5567000 333000 1335000 850000 1239000 2257000 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">8.</span> </div> <div> <span style="font-weight: bold;">Related Party Transactions </span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> <span style="font-weight: bold; text-decoration: underline;">Ship Management Agreements</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Technomar Shipping Inc. (“Technomar”) is presented as a related party, as the Company’s Executive Chairman is a significant shareholder. Technomar provides technical management services for all of the Company’s vessels pursuant to technical management agreements. Technomar is responsible for all day-to-day ship management, including crewing, purchasing stores, lubricating oils and spare parts, paying wages, pensions and insurance for the crew, and organizing other ship operating necessities, including monitoring and reporting with respect to European Union Emission Trading System (“EU ETS”) compliance, EU Allowances (“EUAs”), Fuel EU Maritime (“FEUM”) compliance, and the arrangement and management of dry-docking. The Company has agreed to pay Technomar Euro 850 per day, plus an additional fee of Euro 20.55 per day to cover EU ETS services and FEUM Services. Furthermore, Technomar will provide certain construction supervision services for the Company’s newbuilding vessels for an additional fee of Euro 104,000 per newbuilding vessel, which will be payable in two installments to Technomar over the construction period for each such vessel. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The management fees charged to the Company by Technomar for the six months ended June 30, 2026, amounted to $12,989 (six months ended June 30, 2025 - $11,466) and are shown under “Vessel operating expenses” in the interim unaudited condensed Consolidated Statements of Income. Additionally, as of June 30, 2026, outstanding receivables due from Technomar totaling $1,309 are presented under “Due from related parties” (December 31, 2025 - $148). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Conchart provides commercial management services for all of the Company’s vessels pursuant to commercial management agreements. The Company’s Executive Chairman is the sole beneficial owner of Conchart. Under the commercial management agreements, Conchart is primarily responsible for (i) marketing of the Company’s vessels, (ii) seeking and negotiating employment of the Company’s vessels, (iii) advising the Company on market developments and developments of new rules and regulations, (iv) assisting in calculation of hires, freights, demurrage and/or dispatch monies and collection any sums related to the operation of vessels, (v) communicating with agents, and (vi) negotiating sale and purchase transactions. The Company has agreed to pay Conchart a commission fee of 1.25% on all monies earned under each fixture, subject to certain exceptions. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The fees charged to the Company by Conchart for the six months ended June 30, 2026, amounted to $4,477 (six months ended June 30, 2025: $3,719) and are disclosed within “Time charter and voyage expenses” in the interim unaudited condensed Consolidated Statements of Income. Any outstanding fees due to Conchart are presented in the interim unaudited condensed Consolidated Balance Sheets under "Due to related parties" totaling to $740 and $692 as of June 30, 2026, and December 31, 2025, respectively. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In addition, the Company, as per the commercial management agreements, has agreed to pay Conchart in connection with the sale or purchase of vessels (including the acquisition of a vessel pursuant to a newbuilding contract, or the disposition of a vessel through the transfer, assignment, or novation of a newbuilding contract), a commission of 1.00% based on the sale or purchase price, as applicable, for any sale or purchase of a vessel, which shall be payable upon request of the commercial manager. The amount of $9,776 as of June 30, 2026 ($9,476 as of December 31, 2025), reflects commission payable to the commercial manager based on the purchase price of already acquired vessels that has been deferred and will be paid upon request of the commercial manager, is presented in the interim unaudited condensed Consolidated Balance Sheets under "Accrued Liabilities". </div> 850 20.55 104000 2 12989000 11466000 1309000 148000 0.0125 4477000 3719000 740000 692000 0.01 9776000 9476000 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">9.</span> </div> <div> <span style="font-weight: bold;">Commitments and Contingencies </span> </div> </div><div style="clear: both;">  </div><div> <span style="font-weight: bold;">Charter Hire Receivable</span> </div><div>  </div><div style="text-align: justify;"> The Company has entered into time charters for its vessels. The charter hire is fixed for the duration of the charter. The minimum contracted future charter hire receivable, net of address commissions, not allowing for any unscheduled off-hire, assuming expiry at earliest possible dates and assuming options callable by the Company included in the charters are not exercised, for the 71 vessels and for the 15 container vessels under construction as at June 30, 2026 is as follows: </div><div>  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 88%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td></tr><tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Period ending </span> </div> </td> <td style="vertical-align: bottom; font-size: 0px; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; font-size: 0px; width: 1%;"> </td> <td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: right; width: 9%;"> <span style="font-weight: bold;">Amount</span> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2027 </div> </td> <td style="vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="border-top: 1pt solid black; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; text-align: left;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">764,493</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2028 </div> </td> <td style="vertical-align: bottom; font-size: 0px; width: 1%;"> </td><td style="vertical-align: bottom; font-size: 0px; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">548,313</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2029 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">295,408</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2030 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">270,186</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2031 and thereafter </div> </td> <td style="vertical-align: bottom; font-size: 0px; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: bottom; font-size: 0px; width: 1%; text-align: left; border-bottom: 2px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid black;">1,202,790</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Total minimum lease revenue, net of address commissions </span> </div> </td> <td style="font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; text-align: left; border-bottom: 4px double black;">$</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">3,081,190</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table><div>  </div><div style="text-align: justify;"> The Company has outstanding commitments under vessel construction contracts as of June 30, 2026, see Note 3 “Vessels in Operation”. </div> The minimum contracted future charter hire receivable, net of address commissions, not allowing for any unscheduled off-hire, assuming expiry at earliest possible dates and assuming options callable by the Company included in the charters are not exercised, for the 71 vessels and for the 15 container vessels under construction as at June 30, 2026 is as follows:<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"><td style="width: 88%;"> </td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td></tr><tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Period ending </span> </div> </td> <td style="vertical-align: bottom; font-size: 0px; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; font-size: 0px; width: 1%;"> </td> <td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: right; width: 9%;"> <span style="font-weight: bold;">Amount</span> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2027 </div> </td> <td style="vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="border-top: 1pt solid black; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; text-align: left;">$</td> <td style="vertical-align: bottom; text-align: right; width: 9%;">764,493</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2028 </div> </td> <td style="vertical-align: bottom; font-size: 0px; width: 1%;"> </td><td style="vertical-align: bottom; font-size: 0px; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">548,313</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2029 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">295,408</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2030 </div> </td> <td style="vertical-align: bottom; width: 1%;"> </td><td style="vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%;">270,186</td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> June 30, 2031 and thereafter </div> </td> <td style="vertical-align: bottom; font-size: 0px; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: bottom; font-size: 0px; width: 1%; text-align: left; border-bottom: 2px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid black;">1,202,790</td><td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Total minimum lease revenue, net of address commissions </span> </div> </td> <td style="font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; text-align: left; border-bottom: 4px double black;">$</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">3,081,190</td><td style="vertical-align: bottom; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table> 71 15 764493000 548313000 295408000 270186000 1202790000 3081190000 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">10</span>. </div> <div> <span style="font-weight: bold;">Share Capital</span> </div> </div><div style="clear: both;">  </div><div> <span style="font-weight: bold;">Common shares</span> </div><div>  </div><div style="text-align: justify;"> As of June 30, 2026, the Company had one class of common shares outstanding: the Class A common shares. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-style: italic;">2019 Omnibus Incentive Plan</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Effective February 4, 2019, the Company adopted the 2019 Omnibus Incentive Plan, which was thereafter amended and restated on September 29, 2021 and September 25, 2025 (the “Equity Incentive Plan”), pursuant to which directors, officers and employees, among others, of the Company and its subsidiaries are eligible to receive awards in the form of non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, cash awards, unrestricted stock and other equity-based or equity-related awards (see note 11). In April 2020, 184,270 shares were issued under grants made pursuant to the Equity Incentive Plan. In 2025, 2024, 2023, 2022 and 2021, 466,258, 483,713, 440,698, 586,819 and 747,604 Class A common shares were issued under the Equity Incentive Plan, respectively. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-style: italic;">Common Share Repurchase Program</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In July 2023, the Board of Directors authorized the repurchase of up to $40,000 of the Company’s Class A common shares. During the six months ended June 30, 2026, the Company did not repurchase any Class A common shares. During 2025, the Company did not repurchase any Class A common shares. During 2024 and 2023, the Company repurchased 251,772 and 1,242,663 Class A common shares, respectively, reducing the issued and outstanding shares. As at June 30, 2026, the Company had 36,035,434 Class A common shares outstanding. </div><div style="text-align: justify;">  </div><div> <span style="font-style: italic;">Dividends</span> </div><div>  </div><div style="text-align: justify;"> On May 10, 2024, the Company announced a dividend of $0.375 per Class A common share from the earnings of the first quarter of 2024 paid on June 3, 2024, to common shareholders of record as of May 24, 2024, amounting to $13,255. On <span style="-sec-ix-hidden: hidden-fact-147">August 5</span>, and November 11, 2024, the Company announced a dividend of $0.45 per Class A common share from the earnings of the second and third quarter of 2024, respectively, each paid on September 4, 2024, and December 4, 2024, to common shareholders of record as of <span style="-sec-ix-hidden: hidden-fact-148">August 23</span>, and November 22, 2024, respectively, each amounting to $15,965 and $16,004. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On February 12, 2025, the Company announced a dividend of $0.45 per Class A common share from the earnings of the fourth quarter of 2024, paid on March 6, 2025, to Class A common shareholders of record as of February 24, 2025, amounting to $16,043. </div><div style="text-align: justify;"> On May 12, 2025, the Company announced a dividend of $0.525 per Class A common share from the earnings of the first quarter of 2025, paid on June 3, 2025, to Class A common shareholders of record as of May 23, 2025, amounting to $18,763. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On August 5, 2025, the Company announced a dividend of $0.525 per Class A common share from the earnings of the second quarter of 2025, paid on September 4, 2025, to Class A common shareholders of record as of August 22, 2025, amounting to $18,809. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On November 10, 2025, the Company announced an increase of $0.10 per Class A common share in the quarterly supplemental dividend for a total quarterly dividend of $0.625 per Class A common share, commencing with the dividend payable in December 2025. The dividend was paid on December 4, 2025 to Class A common shareholders of record as of November 21, 2025, amounted to $22,446. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On February 10, 2026, the Company announced a dividend of $0.625 per Class A common share from the earnings of the fourth quarter of 2025, which was paid on March 6, 2026 to common shareholders of record as of February 24, 2026, amounting to $22,484. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On May 11, 2026, the Company announced a dividend of $0.625 per Class A common share from the earnings of the first quarter of 2026, which was paid on June 3, 2026 to common shareholders of record as of May 22, 2026, amounting to $22,522. </div><div style="text-align: justify;">  </div><div> <span style="font-style: italic;">Common Share ATM Program</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On August 16, 2024, the Company entered into an equity distribution agreement with Evercore Group L.L.C. under which the Company could offer and sell its Class A common shares having an aggregate offering price of up to $100,000 (the “Prior Common Share ATM Program”). As of December 31, 2024, the Company issued 27,106 Class A common shares under the Prior Common Share ATM Program at an average price of $27.02. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On September 23, 2025, the Company renewed its “at the market” offering program for its Class A common shares, and in connection therewith, entered into an equity distribution agreement with Evercore Group L.L.C. and Jefferies LLC, pursuant to which the Company may, from time to time, offer and sell up to $100,000 of its Class A common shares, par value $0.01 per share, in aggregate (the “Common Share ATM Program”). The Common Share ATM Program renewed and replaced the Prior Common Share ATM Program, on similar terms, which expired on September 16, 2025. At the time of such expiration, remaining capacity under the Prior Common Share ATM Program was approximately $99,277 (out of the original $100,000). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> <span style="font-weight: bold;">Preferred shares</span> </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On August 20, 2014, the Company issued 1,400,000 Depositary Shares (the "Depositary Shares"), each of which represents 1/<span style="-sec-ix-hidden: hidden-fact-149">100th</span> of one share of the Company's 8.75% Series B Cumulative Perpetual Preferred Shares ("Series B Preferred Shares") representing an interest in 14,000 Series B Preferred Shares, par value $0.01 per share, with a liquidation preference of $2,500.00 per share (equivalent to $25.00 per Depositary Share) (NYSE:GSL-B), priced at $25.00 per Depositary Share. The net proceeds from the offering were $33,497. Dividends are payable at 8.75% per annum in arrears on a quarterly basis. At any time after August 20, 2019 (or within 180 days after the occurrence of a fundamental change), the Series B Preferred Shares may be redeemed, at the discretion of the Company, in whole or in part, at a redemption price of $2,500.00 per share (equivalent to $25.00 per depositary share). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> These shares are classified as Equity in the interim unaudited condensed Consolidated Balance Sheets. The dividends payable on the Series B Preferred Shares are presented as a reduction of Retained Earnings in the interim unaudited condensed Consolidated Statements of Changes in Shareholders’ Equity, when and if declared by the Board of Directors. An initial dividend was declared on September 22, 2014, for the third quarter 2014. Dividends have been declared for all subsequent quarters. </div><div style="text-align: justify;"> On September 23, 2025, the Company renewed its “at the market” offering program for its Depositary Shares, and in connection therewith, entered into an At Market Issuance Sales Agreement with B. Riley Securities, Inc. and Evercore Group L.L.C., pursuant to which the Company may, from time to time, offer and sell up to $150,000 of its Depositary Shares, in aggregate (the “Preferred Share ATM Program”). The Preferred Share ATM Program renews and replaces the Company’s prior “at the market” offering program that was in place with B. Riley Securities, Inc., on similar terms, which expired on September 16, 2025 (the “Prior Preferred Share ATM Program”). No sales were made under the Prior Preferred Share ATM Program, and no sales have been made under the Preferred Share ATM Program. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> As of June 30, 2026, there were 4,359,190 Depositary Shares outstanding, representing an interest in 43,592 Series B Preferred Shares. </div> 1 184270 466258 483713 440698 586819 747604 40000000 0 0 251772 1242663 36035434 2024-05-10 0.375 2024-06-03 2024-05-24 13255000 2024-11-11 0.45 0.45 2024-09-04 2024-12-04 2024-11-22 15965000 16004000 2025-02-12 0.45 2025-03-06 2025-02-24 16043000 2025-05-12 0.525 2025-06-03 2025-05-23 18763000 2025-08-05 0.525 2025-09-04 2025-08-22 18809000 2025-11-10 0.1 0.625 2025-12-04 2025-11-21 22446000 2026-02-10 0.625 2026-03-06 2026-02-24 22484000 2026-05-11 0.625 2026-06-03 2026-05-22 22522000 100000000 27106 27.02 100000000 0.01 99277000 100000000 1400000 0.0875 14000 0.01 2500 25 25 33497000 0.0875 P180D 2500 25 150000000 4359190 43592 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">11.</span> </div> <div> <span style="font-weight: bold;">Stock-Based Compensation</span> </div> </div><div style="text-align: justify; clear: both;">  </div><div style="text-align: justify;"> On February 4, 2019, the Board of Directors adopted the Equity Incentive Plan. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The purpose of the Equity Incentive Plan is to provide directors, officers and employees, whose initiative and efforts are deemed to be important to the successful conduct of our business, with incentives to (a) enter into and remain in the service of the Company or its subsidiaries and affiliates, (b) acquire a proprietary interest in the success of the Company, (c) maximize their performance and (d) enhance the long-term performance of the Company. The Equity Incentive Plan is administered by the Compensation Committee of the Board of Directors, or such other committee of the Board of Directors as may be designated by them. Unless terminated earlier by the Board of Directors, the Equity Incentive Plan expires 10 years from the date on which it was adopted. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> On September 29, 2021, the Board of Directors approved an increase in the aggregate number of Class A common shares available for issuance as awards under the Equity Incentive Plan by 1,600,000 to 3,412,500 and approved an increase to the maximum number of Class A common shares that each non-executive director may be granted in any one year to 25,000. In addition, with effect from October 1, 2021, the Board of Directors approved awards under the Equity Incentive Plan of (a) up to an aggregate of 1,500,000 Class A common shares to members of senior management, and (b) up to an aggregate of 105,000 Class A common shares to the Company’s non-executive directors (representing an award of up to 15,000 Class A common shares to each such director) (collectively, the “Initial 2021 Incentive Awards”). The Initial 2021 Incentive Awards were subject to the satisfaction of certain service-based and performance-based vesting criteria. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> During the year ended December 31, 2022, the Board of Directors approved an award of 13,780 Class A common shares to a non-executive director who was appointed subsequent to the Initial 2021 Incentive Awards, to vest in a similar manner to the Initial 2021 Incentive Awards, adjusted for the date of appointment of the director. During the year ended December 31, 2024, the Board of Directors approved an award to a non-executive director who was appointed subsequent to the Initial 2021 Incentive Awards, amounting to 4,884 Class A common shares which vested and were issued immediately, and 8,311 Class A common shares, which were scheduled to vest in a similar manner to the Initial 2021 Incentive Awards, adjusted for the date of appointment of the director. These awards together with the Initial 2021 Incentive Awards are collectively referred to as the “2021 Incentive Awards.” </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> In March 2024, as a result of the transition of the Company’s Chief Executive Officer (“CEO”), the Board of Directors approved new awards of (i) 6,465 Class A common shares to a newly appointed non-executive director and (ii) 51,750 Class A common shares, to the newly appointed CEO, in each case, scheduled to vest in a similar manner to the 2021 Incentive Awards, adjusted for the dates of appointment. Further, 155,250 unvested Class A common shares were forfeited during the first quarter of 2024, due to retirement of the former CEO. </div><div style="text-align: justify;"> During the years ended December 31, 2025, 2024, 2023, 2022 and 2021, 261,461, 535,912, 399,727, 218,366 and 55,175 Class A common shares vested, respectively, pursuant to the 2021 Incentive Awards. An aggregate of 1,470,641 Class A common shares under the 2021 Incentive Awards vested and were issued by December 31, 2025. Of the total Class A common shares which vested under the 2021 Incentive Awards up to December 31, 2025, and December 31, 2024, nil and 204,797, respectively, had not been issued. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Effective September 25, 2025, the Board of Directors approved an increase in the aggregate number of Class A common shares available for issuance as awards under the Equity Incentive Plan by 2,430,000 shares. Effective October 1, 2025, the Board of Directors approved new awards of Class A common shares, with each such award having a term of 3.25 years (ending December 31, 2028) (the “Term”) (such awards, the “2025 Incentive Awards”). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> The 2025 Incentive Awards are divided into three tranches: (i) a service tranche, which vests quarterly, pro rata, during the Term, conditioned only on the recipient’s continued service (“Service Tranche”), (ii) a performance tranche, which is earned upon the Company’s achievement of a specified annualized return on equity that is measured on each of December 31 of 2026, 2027 and 2028, after which, such shares are notionally divided into a number of quarterly installments within the Term and are eligible to vest on this basis (“Performance Tranche”), and (iii) a moonshot tranche, which is measured and will vest at the end of the Term based on the achievement of a specified return on equity over the full Term (“Moonshot Tranche”). The Performance Tranche payout thresholds are (a) below 13% return on equity: no payout, (b) 13%-15% return on equity: 50% payout, (c) 15% return on equity: 100% payout (target), and (d) Moonshot 30% return on equity: 100% payout. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Of the 2025 Incentive Awards, (a) members of senior management were awarded an aggregate of up to 2,195,250 Class A common shares (comprising a Service Tranche of 731,750 shares, a Performance Tranche of 731,750 shares, and a Moonshot Tranche of 731,750 shares), (b) each non-executive director of the Company was awarded up to 22,500 shares (comprising a Service Tranche of 7,500 shares, a Performance Tranche of 7,500 shares, and a Moonshot Tranche of 7,500 shares), and (c) other new awards were made in an aggregate amount of up to 54,750 Class A common shares (comprising a Service Tranche of 18,250 shares, a Performance Tranche of 18,250 shares, and a Moonshot Tranche of 18,250 shares). </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> For the six months ended June 30, 2026 and year ended December 31, 2025, a total of 121,806 and 60,903, respectively, Class A common shares vested under the 2025 Incentive Awards. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Stock-based awards since January 1, 2025, are summarized as follows: </div><div style="text-align: justify;">  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 64%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle;"> </td> <td style="vertical-align: middle; text-align: justify; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: justify; width: 1%;"> </td> <td colspan="9" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: center; width: 9%;"> <span style="font-weight: bold;">Stock-Based Awards</span>     </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> </td> <td style="vertical-align: middle; text-align: justify; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: justify; width: 1%;"> </td> <td colspan="9" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: center; width: 9%;"> Number of Shares </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center; width: 1%;"> </td> </tr> <tr style="vertical-align : top; white-space : nowrap; "> <td style="vertical-align: middle;"> </td> <td style="vertical-align: middle; text-align: justify; border-bottom: 2px solid transparent; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; border-bottom: 2px solid black; width: 1%;"> </td> <td style="text-align: right; border-bottom: 2px solid black; vertical-align: middle; width: 9%;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Number</span></td><td style="vertical-align: middle; text-align: left; border-bottom: 2px solid transparent; width: 1%;"> </td> <td style="text-align: justify; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; border-bottom: 2px solid transparent; width: 1%;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; border-bottom: 2px solid black; width: 1%;"> </td> <td style="text-align: right; font-weight: bold; border-bottom: 2px solid black; vertical-align: bottom; width: 9%;"><span style="font-weight: 400; letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Weighted Average<br/> Fair Value<br/> on Grant Date</span></td><td style="vertical-align: middle; text-align: left; font-weight: bold; border-bottom: 2px solid transparent; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; border-bottom: 2px solid transparent; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; border-bottom: 2px solid black; width: 1%;"> </td><td style="text-align: right; font-weight: bold; border-bottom: 2px solid black; vertical-align: bottom; width: 9%;"><span style="font-weight: 400; letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Actual Fair<br/> Value on<br/> Vesting Date</span></td><td style="vertical-align: middle; text-align: left; font-weight: bold; border-bottom: 2px solid transparent; width: 1%;"> </td> </tr><tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Unvested as at January 1, 2025</span> </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; font-weight: bold; border-bottom: 2px solid black;">261,461</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="text-align: justify; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 2px solid black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 2px solid black;">21.92</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 2px solid black;"> n/a </td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Granted in September 2025 </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">2,375,250</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: justify; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">25.55</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td><td style="vertical-align: middle; text-align: right; width: 9%;"> n/a </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Vested in year ended December 31, 2025 </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">(322,364</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">  n/a </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">28.23</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Unvested as at December 31, 2025</span> </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%;">2,314,347</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%;"> </td> <td style="text-align: justify; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%;">25.55</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td><td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%;"> n/a </td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Vested in period ended June 30, 2026 </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">(121,806</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">  n/a </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">37.42</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Unvested as at June 30, 2026</span> </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 4px double transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 4px double black;"> </td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">2,192,541</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> <td style="text-align: justify; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">25.55</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%; border-bottom: 4px double transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 4px double black;"> </td><td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;"> n/a </td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table><div style="text-align: justify;">  </div><div style="text-align: justify;"> Using the graded vesting method of expensing the incentive stock awards, the weighted average fair value of the stock awards is recognized as compensation costs in the interim unaudited condensed Consolidated Statements of Income over the vesting period. The fair value of the incentive stock awards for time-vesting and performance-based awards is calculated by multiplying the number of stock awards by the fair value of the shares at the closing market price of a share of our common stock on the date of the grant, modified as appropriate to take into account the features of such grants. The Company has not factored any anticipated forfeiture into these calculations based on the limited number of participants. </div><div style="text-align: justify;"> The Company’s performance-based compensation expenses are calculated based on the valuation at the grant date and recognized based on the probability of achieving those targets. The Company assesses the probability of the performance targets being achieved at each balance sheet date, and expenses are recognized accordingly. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> For the six months ended June 30, 2026, and 2025, the Company recognized a total of $10,998 and $4,244, in respect of stock-based compensation. </div> P10Y 1600000 3412500 25000 1500000 105000 15000 13780 4884 8311 6465 51750 155250 261461 535912 399727 218366 55175 1470641 0 204797 2430000 P3Y3M 3 0.13 0 0.13 0.50 0.15 0.15 1 0.30 1 2195250 731750 731750 731750 22500 7500 7500 7500 54750 18250 18250 18250 121806 60903 <div style="text-align: justify;"> Stock-based awards since January 1, 2025, are summarized as follows: </div><div style="text-align: justify;">  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 64%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle;"> </td> <td style="vertical-align: middle; text-align: justify; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: justify; width: 1%;"> </td> <td colspan="9" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: center; width: 9%;"> <span style="font-weight: bold;">Stock-Based Awards</span>     </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle; border-width: medium; border-style: none; border-color: currentcolor;"> </td> <td style="vertical-align: middle; text-align: justify; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: justify; width: 1%;"> </td> <td colspan="9" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: center; width: 9%;"> Number of Shares </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center; width: 1%;"> </td> </tr> <tr style="vertical-align : top; white-space : nowrap; "> <td style="vertical-align: middle;"> </td> <td style="vertical-align: middle; text-align: justify; border-bottom: 2px solid transparent; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; border-bottom: 2px solid black; width: 1%;"> </td> <td style="text-align: right; border-bottom: 2px solid black; vertical-align: middle; width: 9%;"><span style="letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Number</span></td><td style="vertical-align: middle; text-align: left; border-bottom: 2px solid transparent; width: 1%;"> </td> <td style="text-align: justify; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; border-bottom: 2px solid transparent; width: 1%;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; border-bottom: 2px solid black; width: 1%;"> </td> <td style="text-align: right; font-weight: bold; border-bottom: 2px solid black; vertical-align: bottom; width: 9%;"><span style="font-weight: 400; letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Weighted Average<br/> Fair Value<br/> on Grant Date</span></td><td style="vertical-align: middle; text-align: left; font-weight: bold; border-bottom: 2px solid transparent; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; border-bottom: 2px solid transparent; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; border-bottom: 2px solid black; width: 1%;"> </td><td style="text-align: right; font-weight: bold; border-bottom: 2px solid black; vertical-align: bottom; width: 9%;"><span style="font-weight: 400; letter-spacing: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Actual Fair<br/> Value on<br/> Vesting Date</span></td><td style="vertical-align: middle; text-align: left; font-weight: bold; border-bottom: 2px solid transparent; width: 1%;"> </td> </tr><tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Unvested as at January 1, 2025</span> </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; font-weight: bold; border-bottom: 2px solid black;">261,461</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="text-align: justify; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 2px solid black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 2px solid black;">21.92</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 2px solid black;"> n/a </td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Granted in September 2025 </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">2,375,250</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: justify; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">25.55</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td><td style="vertical-align: middle; text-align: right; width: 9%;"> n/a </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Vested in year ended December 31, 2025 </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">(322,364</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">  n/a </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">28.23</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Unvested as at December 31, 2025</span> </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%;">2,314,347</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%;"> </td> <td style="text-align: justify; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%;">25.55</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%;"> </td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td><td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%;"> n/a </td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Vested in period ended June 30, 2026 </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">(121,806</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;">) </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">  n/a </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid black;"> </td><td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">37.42</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: middle;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Unvested as at June 30, 2026</span> </div> </td> <td style="vertical-align: middle; text-align: justify; width: 1%; border-bottom: 4px double transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 4px double black;"> </td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">2,192,541</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> <td style="text-align: justify; font-weight: bold; vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double transparent;"> </td><td style="text-align: left; font-weight: bold; vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; width: 1%; border-bottom: 4px double black;">$</td> <td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;">25.55</td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%; border-bottom: 4px double transparent;"> </td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 4px double black;"> </td><td style="vertical-align: middle; text-align: right; font-weight: bold; width: 9%; border-bottom: 4px double black;"> n/a </td><td style="vertical-align: middle; text-align: left; font-weight: bold; width: 1%; border-bottom: 4px double transparent;"> </td> </tr> </table> 261461 21.92 2375250 25.55 322364 28.23 2314347 25.55 121806 37.42 2192541 25.55 10998000 4244000 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">12.</span> </div> <div> <span style="font-weight: bold;">Earnings per Share</span> </div> </div><div style="clear: both;">  </div><div style="text-align: justify;"> Under the two-class method, net income, if any, is first reduced by the amount of dividends declared in respect of common shares for the current period, if any, and the remaining earnings are allocated to common shares and participating securities to the extent that each security can share the earnings assuming all earnings for the period are distributed. </div><div style="text-align: justify;">  </div><div style="text-align: justify;"> Earnings are only allocated to participating securities in a period of net income if, based on the contractual terms, the relevant common shareholders have an obligation to participate in such earnings. As a result, earnings are only allocated to the Class A common shareholders. </div><div style="text-align: justify;">  </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 76%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; font-size: 0px;"> </td> <td style="text-align: center; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;"> </td> <td colspan="5" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: center;"> <span style="font-weight: bold;">Six months ended<br/> June 30,</span> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; font-size: 0px;"> </td> <td style="text-align: center; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;"> </td> <td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 9%;"> <span style="font-weight: bold;">2026</span> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 9%;"> <span style="font-weight: bold;">2025</span> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: bottom; text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold; font-style: italic;">Numerator:</span> </div> </td> <td style="width: 1%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 1%;"> </td> <td style="border-width: medium; border-style: none; border-color: currentcolor; width: 9%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 1%;"> </td> <td style="border-width: medium; border-style: none; border-color: currentcolor; width: 9%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Net income available to common shareholders </div> </td> <td style="vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; text-align: left; width: 1%;">$</td> <td style="text-align: right; width: 9%;">180,737</td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; text-align: left; width: 1%;">$</td> <td style="text-align: right; width: 9%;">214,063</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold; font-style: italic;">Denominator:</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Class A Common shares</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Basic weighted average number of Class A common shares outstanding </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">36,005,151</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">35,598,601</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Plus weighted average number of RSUs with service conditions </div> </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">647,268</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">87,133</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Common share and common share equivalents, dilutive </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">36,652,419</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">35,685,734</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Basic earnings per share:</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Class A </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">5.02</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">6.01</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Diluted earnings per share:</span> </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Class A </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">4.93</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">6.00</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> </table> As a result, earnings are only allocated to the Class A common shareholders.<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-spacing: 0px;"> <tr style="height: 0px; font-size: 0px;"> <td style="width: 76%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="width: 9%;"> </td><td style="width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; font-size: 0px;"> </td> <td style="text-align: center; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;"> </td> <td colspan="5" style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: middle; text-align: center;"> <span style="font-weight: bold;">Six months ended<br/> June 30,</span> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: middle; text-align: center; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom; font-size: 0px;"> </td> <td style="text-align: center; width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;"> </td> <td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 9%;"> <span style="font-weight: bold;">2026</span> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;"> </td><td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="border-width: medium medium 2px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 9%;"> <span style="font-weight: bold;">2025</span> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; vertical-align: bottom; text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold; font-style: italic;">Numerator:</span> </div> </td> <td style="width: 1%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 1%;"> </td> <td style="border-width: medium; border-style: none; border-color: currentcolor; width: 9%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 1%;"> </td> <td style="border-width: medium; border-style: none; border-color: currentcolor; width: 9%;"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Net income available to common shareholders </div> </td> <td style="vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; text-align: left; width: 1%;">$</td> <td style="text-align: right; width: 9%;">180,737</td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: top; border-spacing: 0px; border-collapse: collapse; width: 1%;"> </td><td style="vertical-align: top; height: 1pt; border-spacing: 0px; border-collapse: collapse; text-align: left; width: 1%;">$</td> <td style="text-align: right; width: 9%;">214,063</td><td style="text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold; font-style: italic;">Denominator:</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Class A Common shares</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Basic weighted average number of Class A common shares outstanding </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">36,005,151</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">35,598,601</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Plus weighted average number of RSUs with service conditions </div> </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">647,268</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> <td style="text-align: right; width: 1%; border-bottom: 2px solid transparent;"> </td><td style="text-align: left; width: 1%; border-bottom: 2px solid black;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%; border-bottom: 2px solid black;">87,133</td><td style="vertical-align: middle; text-align: left; width: 1%; border-bottom: 2px solid transparent;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Common share and common share equivalents, dilutive </div> </td> <td style="width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">36,652,419</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">35,685,734</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Basic earnings per share:</span> </div> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="width: 1%;"> </td><td style="width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Class A </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">5.02</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">6.01</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> <span style="font-weight: bold;">Diluted earnings per share:</span> </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: right; width: 1%;"> </td> <td style="text-align: right; width: 9%;"> </td><td style="text-align: right; width: 1%;"> </td> </tr> <tr style="vertical-align: top; height: 1.0pt;"> <td style="vertical-align: bottom;"> <div style="text-indent: -7.2pt; padding-left: 7.2pt;"> Class A </div> </td> <td style="text-align: right; width: 1%;"> </td><td style="text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">4.93</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td><td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 9%;">6.00</td><td style="vertical-align: middle; text-align: left; width: 1%;"> </td> </tr> </table> 180737000 214063000 36005151 35598601 647268 87133 36652419 35685734 5.02 6.01 4.93 6 <div style="text-indent: -36pt; padding-left: 36pt;"> <div style="float: left; width: 36pt; white-space: nowrap;"> <span style="font-weight: bold;">13.</span> </div> <div> <span style="font-weight: bold;">Subsequent events</span> </div> </div><div style="clear: both;">  </div><div style="text-align: justify;"> On August 5, 2026, the Company announced a dividend of $0.625 per Class A common share from the earnings of the second quarter of 2026, to be paid on September 3, 2026, to Class A common shareholders of record as of August 21, 2026. </div> August 5, 2026 0.625 2026-09-03 2026-08-21 http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember N0 1T 1T 1T N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 1T 1T 1T 1T 1T 1T 1T N0 1T 1T N0 N0 1T N0 N0 N0 N0 N0 N0 N0 N0 N0 1T N0 N0 N0 N0 1T 1T N0 1T N0 N0 N0 N0 N0 N0 N0 N0 1T N0 N0 N0 N0 N0 1T 1T N0 N0 1T N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 N0 http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://fasb.org/us-gaap/2026#RelatedPartyMember http://globalshiplease.com/20260630#LondonInterbankOfferedRateMember http://globalshiplease.com/20260630#LondonInterbankOfferedRateMember http://fasb.org/us-gaap/2026#SecuredOvernightFinancingRateSofrMember http://globalshiplease.com/20260630#LondonInterbankOfferedRateMember http://globalshiplease.com/20260630#LondonInterbankOfferedRateMember http://fasb.org/us-gaap/2026#LongTermDebt http://fasb.org/us-gaap/2026#LongTermDebt http://fasb.org/us-gaap/2026#LongTermDebtNoncurrent http://fasb.org/us-gaap/2026#LongTermDebtNoncurrent 2031-06-30 http://fasb.org/us-gaap/2026#SecuredOvernightFinancingRateSofrMember 2028-06-30 http://fasb.org/us-gaap/2026#SecuredOvernightFinancingRateSofrMember 2030-09-30 http://fasb.org/us-gaap/2026#SecuredOvernightFinancingRateSofrMember 2026-05-31 http://fasb.org/us-gaap/2026#SecuredOvernightFinancingRateSofrMember http://fasb.org/us-gaap/2026#SecuredOvernightFinancingRateSofrMember 2025-10-31 2026-07-31 2026-07-31 http://fasb.org/us-gaap/2026#SecuredOvernightFinancingRateSofrMember 2034-12-31 2035-01-31 http://fasb.org/us-gaap/2026#SecuredOvernightFinancingRateSofrMember 2027-09-30 2027-10-31 http://fasb.org/us-gaap/2026#SecuredOvernightFinancingRateSofrMember http://fasb.org/us-gaap/2026#SecuredOvernightFinancingRateSofrMember 2024-08-05 2024-08-23 0.0001 All subsidiaries are 100% owned, either directly or indirectly; Colombia Express, Panama Express, Costa Rica Express, Nicaragua Express, Mexico Express, Jamaica Express. Firm charters are followed by two twelve-month extension periods at charterer’s option; Ateti (ex CMA CGM Berlioz) is fixed for 36 – 38 months. The charter commenced in 2Q 2026. On April 25, 2026, CMA CGM Berlioz was renamed to Ateti; GSL Vinia and GSL Christel Elizabeth are chartered for 36 – 40 months, after which the charterer has the option to extend each charter for a further 12 – 15 months; GSL Maria, GSL Violetta, GSL Arcadia, GSL MYNY, GSL Melita, GSL Tegea and GSL Dorothea. Contract cover for each vessel is for a firm period of at least three years from the date each vessel was delivered in 2021. Thereafter, the charterer has the option to extend each charter for a further 12 months, after which they have the option to extend each charter for a second time – for a period concluding immediately prior to each respective vessel’s 25th year drydocking and special survey. The first extension options have been exercised for all seven ships. Second extension options were exercised in January 2025 for GSL Dorothea, GSL Arcadia, GSL Melita and GSL Tegea, in April 2025 for GSL MYNY and in September 2025 for GSL Maria. The vessels were forward fixed for 36 – 38 months. GSL Arcadia, GSL Violetta and GSL MYNY new charters commenced in 1Q 2026. The remaining new charters are expected to commence between 4Q 2026 and 1Q 2027; GSL Château d’If and CMA CGM Alcazar were forward fixed for 36 – 38 months. The new charters are expected to commence between 3Q-4Q 2026; GSL Melina was forward fixed for 35 – 37 months. The new charter is expected to commence in 4Q 2026; Athena I. On June 14, 2026, Athena was renamed to Athena I; GSL Elizabeth was forward fixed for 24 – 27 months. The new charter is expected to commence in 3Q 2026 after drydocking; GSL Maren is fixed in direct continuation for 24 – 26 months. The charter commenced in 2Q 2026; During 2Q 2026, the Company entered into agreements for the forward sales of four ships, Ian H, Manet, Kumasi and Julie, for an aggregate sale price of $65,500. The ships are scheduled to be delivered to buyers upon expiry of their respective charters. Twenty-foot Equivalent Units; Currently, under a sale and leaseback transaction (see Note 2h); Zim Norfolk and Zim Xiamen were forward extended for 60 – 63 months. The extensions are expected to commence between 2Q-3Q 2027; Sydney Express, Istanbul Express and Bremerhaven Express were delivered in 4Q 2024. Czech, the fourth vessel was delivered on January 9, 2025. Firm charters are followed by three 12-month extension periods at charterer’s option.12-month extension options were exercised in 3Q 2025 for Bremerhaven Express and Sydney Express. 12-month extension options were exercised in 2Q 2026 for Istanbul Express and Czech; MSC Tianjin, MSC Qingdao, Agios Dimitrios and GSL Ningbo were forward fixed for 36 – 38 months with the new charters expected to commence between 3Q-4Q 2027. MSC Qingdao & Agios Dimitrios are fitted with Exhaust Gas Cleaning Systems (“scrubbers”); GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie. Firm charters are followed by one year extension period at charterer’s option. GSL Sofia and GSL Effie options were exercised in January 2025. GSL Alexandra and GSL Lydia options were exercised in February 2025. The vessels were forward fixed for 24 months +/- 30 days. The new charters are expected to commence in 3Q 2026. During 2Q 2026, GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie were further forward fixed for 36 – 38 months plus optional period of 24 – 26 months to commence after drydocking. The new charter (firm period plus two-year option) may be cancelled by charterers at any time up to April 1, 2027; Lotus A, Koi and Cypress. The charters have flexible durations, with latest redeliveries in mid-2030; GSL Eleni, GSL Kalliopi and GSL Grania were forward fixed for 35 – 38 months to commence after drydocking, after which the charterer has the option to extend each charter for a further 12 – 16 months; The charters of the ECO 8,586 TEU Vessels resulted in an intangible liability of $57,183 that was recognized and will be amortized over the remaining useful life of the charters. The charter of the fourth ECO 9,019 TEU Vessel resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. As of December 31, 2024, the Company had paid $6,850 advance for this vessel acquisition. During the first quarter of 2025, the charter of the fourth ECO 9,019 TEU Vessel resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. During December 2025, the charters of the first two ECO 8,586 TEU Vessels and during January 2026, the charter of the third ECO 8,586 TEU Vessel, resulted in an intangible liability of $38,122 and $19,061, respectively, that was recognized and will be amortized over the remaining useful life of the charters.