The Great Eastern Shipping Company Limited

rs,

Our Ref.: S/2022/JMT June 15, 2022 BSE Limited 1st Floor, Phiroze Jeejeebhoy Towers, Dalal Street, MUMBAI – 400 001 National Stock Exchange of India Limited Exchange Plaza, 5th Floo

3.5%

Successful capital allocation, supported by strong balance sheet 02 Effective Cost of Debt < 3.5% 04 Low B/S Leverage Net Debt/Equity 0.12x 01 High Un-levered Dollar Returns on investments s

0.12x

strong balance sheet 02 Effective Cost of Debt < 3.5% 04 Low B/S Leverage Net Debt/Equity 0.12x 01 High Un-levered Dollar Returns on investments since FY17 = 17.7% 03 Strong Liquidity Posit

17.7%

S Leverage Net Debt/Equity 0.12x 01 High Un-levered Dollar Returns on investments since FY17 = 17.7% 03 Strong Liquidity Position Cash Balance US $400Mn 05 5 Year NAV based Dollar Return (exclud

15.8%

ong Liquidity Position Cash Balance US $400Mn 05 5 Year NAV based Dollar Return (excluding GIL) 15.8% 6 Business Segments Shipping Offshore  Presence - Global presence with different asset clas

0.46%

servations 54 54 Total Inspection 66 Total Inspection 66 Unplanned technical downtime FY22 – 0.46% o 78 inspections carried out by oil majors with an average of 2.74 observations per inspection I

RS 0.1

chases Panamax 5 year Purchases 14 Balance Sheet Discipline Net Debt to Fleet Ratio GESCO PEERS 0.1 0.42 o NCD Ratings – CARE ratings AA+; BRICKWORK AAA o Effective cost of debt <3.5%; lowest amongst

9,079 %

30,000 20,000 10,000 0 FY21 FY22 FY23 FY21 FY22 FY23 USD/Day 12M FY21 18,970 FY22 9,079 % Change USD/Day -52% 12M FY21 12,040 FY22 7,597 % Change -37% Sources – Industry Reports

52%

FY21 FY22 FY23 FY21 FY22 FY23 USD/Day 12M FY21 18,970 FY22 9,079 % Change USD/Day -52% 12M FY21 12,040 FY22 7,597 % Change -37% Sources – Industry Reports 18 Dry Bulk Market

7,597 %

FY23 USD/Day 12M FY21 18,970 FY22 9,079 % Change USD/Day -52% 12M FY21 12,040 FY22 7,597 % Change -37% Sources – Industry Reports 18 Dry Bulk Market Avg Baltic Capesize 5T/C Earnings(

37%

M FY21 18,970 FY22 9,079 % Change USD/Day -52% 12M FY21 12,040 FY22 7,597 % Change -37% Sources – Industry Reports 18 Dry Bulk Market Avg Baltic Capesize 5T/C Earnings(USD/Day) Avg

32,642 %

40000 30000 20000 10000 0 FY21 FY22 FY23 FY21 FY22 FY23 USD/Day 12M FY21 16,012 FY22 32,642 % Change 104% USD/Day 12M FY21 10,631 FY22 28,728 % Change 170% Sources – Industry Reports

Cash on the balance sheet

1

Gross bank debt

1

Net Bank Debt to Equity

1

Net Bank Debt to Equity

Mar 15: 0.76 Mar 22: USD 159 M Mar 22: 0.17 27 Price at a significant discount to NAV At current P/Consolidated NAV, GESCO trades at 0.55 Share Price to Consolidated NAV 800 700 600 500 400 300 200 100 0 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Consolidated NAV Share Price/ Consol NAV * For FY22 we have taken share price as on 14th June 2022 1 0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 28 Thank You 29