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Interest bearing debt

9 Months Ended

Sep. 30, 2026

Note 4 – Interest bearing debt

As of September 30, 2026, DHT had interest bearing debt totaling $498.7 million.

Scheduled debt repayments

$ in thousands	Interest rate			Maturity	Q4 2026	2027	2028	Thereafter		Total
Credit Agricole Credit Facility		SOFR + 2.05	%	2028	625	2,500	25,000		-		28,125
ING Credit Facility ¹		SOFR + 1.90	%	2029	5,625	22,500	22,500		5,625		56,250
ING Credit Facility		SOFR + 1.80	%	2029	750	3,000	3,000		29,250		36,000
DHT Jaguar - Nordea Reducing Revolving Credit Facility		SOFR + 1.75	%	2031	710	2,840	2,840		20,060		26,450
DHT Nokota - Nordea Reducing Revolving Credit Facility		SOFR + 1.50	%	2032	1,231	4,923	4,923		48,000		59,077
ING and Nordea Export Facility		SOFR + 1.32	%	2038	3,855	15,420	15,420		267,923		302,618
Nordea Reducing Revolving Credit Facility ²		SOFR + 1.35	%	2033	-	-	-		-		-
Total					12,796	51,183	73,683		370,858		508,519
Unamortized upfront fees bank loans											(9,803	)
Total interest bearing debt											498,716

¹$157.5 mill. undrawn as of September 30, 2026

²$243.2 mill. undrawn as of September 30, 2026

Credit Agricole Credit Facility

The credit facility is repayable in quarterly installments of $0.6 million with final payment of $22.5 million in addition to the last installment in December 2028.

ING Credit Facility

In January 2023, the Company entered into a new $405 million secured credit facility, including a $100 million uncommitted incremental facility, with ING, Nordea, ABN AMRO, Credit Agricole, Danish Ship Finance and SEB, as lenders, ten wholly owned special-purpose vessel-owning subsidiaries as borrowers, and DHT Holdings, Inc., as guarantor. Borrowings bear interest at a rate equal to SOFR plus a margin of 1.90% and are repayable in quarterly installments of $5.6 million with maturity in January 2029.

In the first quarter of 2025, the Company prepaid $42.4 million under the revolving credit facility and drew down $10 million for corporate purposes. In the second quarter of 2025, the Company prepaid $25.0 million under the revolving credit facility and drew down $10 million and $15 million, respectively, for corporate purposes. In December 2025, the Company drew $50 million under the revolving credit facility. In January 2026, the Company prepaid $5.6 million of the outstanding balance in connection with the sale of DHT China. In the first quarter of 2026, the Company drew $90 million and prepaid a total of $225 million in connection with the delivery of the three newbuildings.

In September 2023, the Company entered into a $45 million senior secured credit facility under the incremental facility, with ING, Nordea, ABN AMRO, Danish Ship Finance and SEB, as lenders, one wholly owned special-purpose vessel-owning subsidiary as borrower, and DHT Holdings, Inc., as guarantor. Borrowings bear interest at a rate equal to SOFR plus a margin of 1.80% and are repayable in quarterly installments of $0.75 million with maturity in January 2029.

Nordea Credit Facility

In the third quarter of 2025, the Company voluntarily prepaid $22.1 million under the Nordea Credit Facility, covering all scheduled installments for Q4 2025 and the entirety of 2026. In the fourth quarter of 2025, the Company drew $120 million under the revolving credit facility and repaid $64 million in connection with the new facility for DHT Nokota. During the second quarter of 2026, the Company repaid all remaining outstanding under the Nordea Credit Facility in connection with the establishment of the Company’s new $250.0 million Nordea Reducing Revolving Credit Facility. Following the repayment, the Nordea Credit Facility was terminated and as of September 30, 2026, no amounts were outstanding under the facility.

DHT Jaguar – Nordea Reducing Revolving Credit Facility

In April 2025, the Company entered into a $30 million reducing revolving credit facility agreement with Nordea as lender, DHT Jaguar Limited as borrower and DHT Holdings, Inc., as guarantor. The credit facility is repayable or reduced in quarterly installments of $0.7 million with a final payment of $13.7 million in April 2031. The credit facility bears an interest rate equal to SOFR plus a margin of 1.75%.

DHT Nokota – Nordea Reducing Revolving Credit Facility

In September 2025, the Company entered into a $64 million reducing revolving credit facility agreement with Nordea as lender, DHT Nokota, Inc. as borrower and DHT Holdings, Inc., as guarantor. The facility was drawn on November 21, 2025, and is repayable or reduced in quarterly installments of $1.2 million with a final payment of $30.8 million in September 2032. The credit facility bears interest at a rate equal to SOFR plus a margin of 1.50%.

ING and Nordea – Export Facility

In July 2025, the Company entered into a $308.4 million senior secured credit facility for the post-delivery financing of the Company’s four newbuildings with DHT Antelope, Inc., DHT Addax, Inc., DHT Gazelle, Inc., and DHT Impala, Inc. as borrowers and DHT Holdings, Inc., as guarantor (the “ING and Nordea Export Facility”). The facility was co-arranged by ING and Nordea, with ING acting as Coordinator, Facility Agent, Security Agent and ECA Agent.

Each tranche under the facility becomes repayable in 48 equal quarterly installments, commencing three months after its respective utilization date. The facility is repayable in quarterly installments of $3.9 million, with a final balloon payment of $127.2 million due in 2038. The facility bears interest at a rate equal to SOFR plus a weighted average margin of 1.32%, and each tranche matures 12 years from the respective vessel’s delivery date.

As of September 30, 2026, all four newbuildings were delivered, and the Company drew $77.1 million under the facility in connection with the delivery of each vessel.

Nordea Reducing Revolving Credit Facility

In June 2026, the Company entered into a $250.0 million reducing revolving credit facility, including a $250 million uncommitted incremental facility, with Nordea, ING, DNB, ABN AMRO, Credit Agricole, Danish Ship Finance and SEB, as lenders, six wholly owned special-purpose vessel-owning subsidiaries as borrowers, and DHT Holdings, Inc., as guarantor. Borrowings bear interest at a rate equal to SOFR plus a margin of 1.35%. The facility amortizes through scheduled quarterly reductions, with total commitment reducing from $250.0 million at inception to approximately $79.0 million by maturity in June 2033. Quarterly reductions are $6.8 million through the second quarter of 2028, followed by lower scheduled reductions thereafter, with a final reduction of $3.5 million at maturity. As of September 30, 2026, the Company had not drawn any amounts under the facility.

Interest rate swaps

Derivatives are classified and measured at fair value in the statement of financial position. Fair value measurement is based on Level 2 in the fair value hierarchy as defined in IFRS 13 Fair Value Measurement. Such measurement is based on techniques for which all inputs that have a significant effect on the recorded fair value are observable. Future cash flows are estimated based on forward interest rates (from observable yield curves at the end of the reporting period) and contract interest rates, discounted at a rate that reflects the credit risk of various counterparties.

As of September 30, 2026, the Company had eight amortizing interest rate swaps totaling $185.0 million with maturity in the fourth quarter of 2028. The average fixed interest rate is 3.32%. As of September 30, 2026, the fair value of the derivative financial assets related to the swaps amounted to $4.4 million.

Derivative financial assets

		Notional amount		Current assets		Non-current assets		Fair value
$ in thousands	Expires	Q3 2026		Q3 2026		Q3 2026		Q3 2026
Swap pays 3.2840%, receive floating	Dec. 8, 2028		16,250		174		208		382
Swap pays 3.2840%, receive floating	Dec. 8, 2028		16,250		174		208		382
Swap pays 3.3200%, receive floating	Dec. 8, 2028		6,250		43		52		95
Swap pays 3.2790%, receive floating	Dec. 8, 2028		21,250		240		286		526
Swap pays 3.3110%, receive floating	Oct. 30, 2028		26,450		295		320		616
Swap pays 3.3536%, receive floating	Dec. 8, 2028		31,250		348		415		764
Swap pays 3.3536%, receive floating	Dec. 8, 2028		31,250		348		415		764
Swap pays 3.3536%, receive floating	Dec. 8, 2028		36,000		400		476		876
Total carrying amount			184,950		2,024		2,380		4,404

Covenant compliance

The Company’s financial covenants as of September 30, 2026, are summarized as follows:

(Applicable to all credit facilities)


Covenants			Requirement
Charter free market value of vessels that secure facility must be no less than			135% of borrowings
Value adjusted* tangible net worth			$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
Guarantor			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).


Facility			Vessels Pledged as Security
Credit Agricole Credit Facility			1 VLCC
ING Credit Facility			10 VLCCs
Nordea Reducing Revolving Credit Facility			6 VLCCs
DHT Jaguar - Nordea Reducing Revolving Credit Facility			1 VLCC
DHT Nokota - Nordea Reducing Revolving Credit Facility			1 VLCC
ING and Nordea - Export Facility			4 VLCCs

As of September 30, 2026, the Company was in compliance with its financial covenants, with significant headroom.