DHT Holdings, Inc. Business Update

Hamilton, Bermuda - June 25, 2020

DHT Holdings, Inc. (NYSE:DHT) ("DHT" or the "Company") today provides the following business update:

Time Charters

• DHT Scandinavia has been significantly delayed discharging cargo on her current voyage and has thereby failed to deliver in time for her 12-month time-charter previously announced. Consequently, the time-charter is cancelled.

• DHT Stallion has entered into a two-year time-charter agreement with an option to extend with an oil major at $41,800 per day. The ship is expected to deliver during July 2020.

• DHT then has ten of its ships on time-charters. Four of the ships have profit sharing structures on top of base rates, whilst the other six have fixed rates. The average of the fixed elements in these ten time-charters, i.e. of the four base rates and the six fixed rates, is $50,673 per day.

Capital Allocation

• In the current quarter, the company has made a voluntary prepayment of all regular instalments for 2021, amounting to $25.8 million, under the Nordea Loan Facility.

• Further, the Company has agreed to voluntary prepay all the 2021 installments, $33.4 million, under the ABN Facility on June 30, 2020.

Cash Break Even

• The Company estimates that the spot ships will need to earn $2,800 per day for the second half of 2020 for the company to cover all its expected cash costs for the period: OPEX, G&A, interest, debt amortization and maintenance capex.

• Similarly, the spot ships are estimated to need to earn $11,400 per day in 2021 in order to cover all expected cash costs for 2021.

Spot chartering update

• As of today, the company has covered 97% of its 2Q 2020 spot days at an average rate of $90,100 per day on a discharge-to-discharge basis.

• As of today, the company has covered 18% of its 3Q 2020 spot days at an average rate of $61,800 per day on a discharge-to-discharge basis.

About DHT Holdings, Inc.
DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our integrated management companies in Monaco, Singapore and Oslo, Norway. You shall recognize us by our business approach with an experienced organization with focus on first rate operations and customer service, quality ships built at quality shipyards, prudent capital structure to accommodate staying power through the business cycles, a combination of market exposure and fixed income contracts for our fleet, a counter cyclical philosophy with respect to investments, employment of our fleet and capital allocation and a transparent corporate structure maintaining a high level of integrity and good governance. For further information: www.dhtankers.com.

DHT Holdings, Inc. press release