Interest bearing debt (Tables)

9 Months Ended

Sep. 30, 2025

Scheduled debt repayments

$ in thousands	Interest rate			Maturity	Q4 2025	2026	2027	Thereafter		Total
Credit Agricole Credit Facility		SOFR + 2.05	%	2028	625	2,500	2,500		25,000		30,625
ING Credit Facility ¹		SOFR + 1.90	%	2029	6,250	25,000	25,000		113,750		170,000
ING Credit Facility		SOFR + 1.80	%	2029	750	3,000	3,000		32,250		39,000
Nordea Credit Facility ²		SOFR + CAS³+ 1.90	%	2027	-	-	3,699		-		3,699
Nordea Reducing Revolving Credit Facility		SOFR +1.75	%	2031	710	2,840	2,840		22,900		29,290
Total					8,335	33,340	37,039		193,900		272,614
Unamortized upfront fees bank loans											(4,087	)
Total interest bearing debt											268,526

¹$72.5 mill. undrawn as of September 30, 2025

²$144.0 mill. undrawn as of September 30, 2025

³3 months Credit Adjustment Spread (CAS) of 0.26%

Derivative Financial Liability Interest Rate Swaps

		Notional amount		Current liability		Non-current liability		Fair value
$ in thousands	Expires	Q3 2025		Q3 2025		Q3 2025		Q3 2025
Swap pays 3.2840%, receive floating	Dec. 8, 2028		18,125		2		5		7
Swap pays 3.2840%, receive floating	Dec. 8, 2028		18,125		2		5		7
Swap pays 3.3200%, receive floating	Dec. 8, 2028		8,125		1		2		2
Swap pays 3.2790%, receive floating	Dec. 8, 2028		23,125		3		6		9
Swap pays 3.3110%, receive floating	Oct. 30, 2028		28,580		4		9		13
Swap pays 3.3536%, receive floating	Dec. 8, 2028		33,125		31		69		100
Swap pays 3.3536%, receive floating	Dec. 8, 2028		33,125		31		69		100
Swap pays 3.3536%, receive floating	Dec. 8, 2028		38,250		36		79		115
Total carrying amount			200,580		111		243		354

Financial Covenant Compliance

The Company’s financial covenants as of September 30, 2025, are summarized as follows:

	Credit Agricole	ING	Nordea	Nordea Reducing Revolving
	Credit Facility	Credit Facility	Credit Facility	Credit Facility
Security	1 VLCC	11 VLCCs	8 VLCCs	1 VLCC
Charter free market value of vessels that secure facility must be no less than	135% of borrowings	135% of borrowings	135% of borrowings	135% of borrowings
Value adjusted* tangible net worth	$300 million and 25% of value adjusted total assets	$300 million and 25% of value adjusted total assets	$300 million and 25% of value adjusted total assets	$300 million and 25% of value adjusted total assets
Unencumbered cash of at least	Higher of $30 million or 6% of gross interest bearing debt	Higher of $30 million or 6% of gross interest bearing debt	Higher of $30 million or 6% of gross interest bearing debt	Higher of $30 million or 6% of gross interest bearing debt
Guarantor	DHT Holdings, Inc.	DHT Holdings, Inc.	DHT Holdings, Inc.	DHT Holdings, Inc.

*Value adjusted is defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company’s vessels (as determined quarterly by a broker approved by the financial institution)