We create to share 17 * From July 19, 2022 ** As of June 30, 2022 (slide 15) *** Assumes vessels
fixed for 12 months upon redelivery to owners from previous charter **** As of July 25, 2022 Source: Company’s filings with the U.S. Securities and Exchange Commission Panamax Kamsarmax Post-Panamax Capesize Newcastlemax Q3
2022 $18,000 $19,300 $18,000 $21,500 $25,900 Q4 2022 $18,500 $19,800 $18,500 $23,800 $28,500 Q1 2023 $13,700 $15,100 $13,700 $11,800 $14,100 Q2 2023 $14,700 $16,000 $14,700 $16,600 $19,900 Q3
2023 $14,200 $15,600 $14,200 $22,400 $26,900 Q4 2023 $13,400 $14,800 $13,400 $20,100 $24,100 Q1 2024 $12,200 $13,600 $12,200 $12,400 $14,900 Q2 2024 $12,900 $14,200 $12,900 $17,300 $20,700 FFA rates**** used for the
unfixed revenues calculation Breakeven vs Estimated Revenue for the remainder of 2022 & 2023 *