Perspective

Investing in Maritime During a Period of Global Dislocation

Periods of geopolitical instability have historically created some of the most compelling opportunities for maritime investors. While broader markets often view escalating conflict as a source of uncertainty and risk, private maritime investing historically provides uncorrelated returns. Disruptions to global trade frequently tighten vessel supply and extend trade routes, which in turn strengthens shipping fundamentals.

Easterly Clear Ocean V is designed to capitalize on this inflection point, where both cyclical and structural tailwinds support vessel earnings and asset values.

Today, the shipping industry sits at the intersection of several powerful forces: escalating instability across the Middle East resulting in fragmented trade corridors, elevated energy prices, and structurally constrained vessel supply with an aging global fleet. Together, these dynamics have created a window of opportunity for investing in chemical tankers, dry bulk vessels, and offshore service vessels.

Geopolitical Conflict as a Structural Tailwind for Maritime Markets

The ongoing geopolitical tensions across the Middle East and critical global transit corridors are materially reshaping international trade flows. Strategic waterways, including the Strait of Hormuz, Bab el-Mandeb, and Red Sea shipping routes have all been impacted, forcing charterers, commodity traders, and energy producers to secure transportation capacity with greater urgency and at materially higher rates.

Historically, geopolitical conflict has not diminished the importance of maritime transportation.
Rather, it has intensified it.

As trade routes become less efficient and global supply chains fragment, shipping markets experience several highly favorable dynamics:

• Expansion in ton-mile demand as vessels reroute around high-risk corridors
• Elevated freight and charter rates driven by congestion and insurance premiums
• Increased scarcity value for immediately available fleet capacity
• Reduction in effective global vessel supply due to longer voyage durations
• Heightened strategic importance of energy and commodity transportation infrastructure

Unlike many sectors negatively impacted by geopolitical volatility, maritime transportation frequently benefits from disruption because the movement of energy, chemicals, grain, fertilizer, steel, and industrial commodities remains indispensable to the global economy regardless of political conditions. In periods of conflict, the world does not consume less energy or fewer commodities. It simply transports them differently and often less efficiently. This inefficiency is precisely what drives stronger shipping economics.

Rising Oil Prices and the Maritime Earnings Expansion Cycle

Ongoing geopolitical conflict has already exerted upward pressure on crude oil prices, reinforcing a broader reflationary backdrop across global energy markets. Historically, sustained increases in oil prices have supported maritime subsectors. Higher energy prices stimulate offshore development activity, increase refined product trade flows, accelerate strategic stockpiling, and expand transportation demand across global commodity markets.

Structural Supply Constraints Across the Global Fleet

Unlike prior shipping cycles, the current maritime environment is not characterized by excessive speculative newbuild activity. In fact, the global vessel orderbook is shrinking relative to fleet size across multiple shipping sectors.

Several structural factors are limiting new vessel supply:

• Elevated shipyard construction costs
• Limited global shipyard capacity
• Financing constraints within maritime lending markets
• Regulatory uncertainty surrounding future propulsion technologies
• Decarbonization compliance requirements
• Aging global fleets facing accelerated obsolescence

In maritime markets, relatively modest changes in vessel availability can create disproportionate increases in charter rates and asset valuations. When geopolitical disruption coincides with constrained vessel supply, earnings expansion can accelerate rapidly. We believe the current environment exhibits many of the characteristics historically associated with highly favorable shipping investment cycles.

How ECO V is Positioned

We believe today’s maritime market presents a rare combination of favorable fundamentals and attractive entry valuations. Historically, periods of uncertainty have often produced attractive maritime entry points because asset prices can lag improving fundamentals. We believe that dynamic exists today, as constrained supply and resilient demand continue to support earnings potential across multiple shipping sectors.

Fund V is focused on sectors where essential demand intersects with constrained supply and where we believe the current environment creates the potential for attractive risk-adjusted returns.

Sector	Demand Driver	Supply Constraint	Why We Like It
Chemical Tankers	Fragmented energy and chemical trade flows	Aging fleet and limited replacement capacity	Resilient demand and limited supply growth
Dry Bulk	Longer trade routes and commodity movement	Low orderbooks and aging vessels	Strong operating leverage to tightening markets
Offshore Service Vessels	Rising offshore spending and energy security	Years of underinvestment and limited newbuild activity	Improving utilization and charter economics

Easterly Clear Ocean V is positioned to invest during a period where tightening vessel supply, aging fleets, and increasingly fragmented trade flows are reshaping maritime markets. We believe our disciplined execution, operational expertise, and access to high-quality assets remain critical advantages in navigating periods of global dislocation.

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IMPORTANT INFORMATION

This summary has been prepared solely for informational purposes by Easterly Clear Ocean (“ECO”) and is being furnished by ECO solely for use by qualified prospective investors in preliminary discussions regarding a purchase of Class A Units (the “Units”) in Easterly Clear Ocean V (the “Company”). This summary is confidential and may not be reproduced. Under no circumstances is this summary to be used or considered as an offer to sell or a solicitation of an offer to buy, any security. Any such offering may be made only by the Company’s confidential private placement memorandum (the “Memorandum”) and the definitive provisions provided for in the limited partnership agreement, subscription agreement and other operating documents of the Company, each of which will be made available to potential investors, and which should be read carefully by potential investors and their advisors. The discussion herein is qualified in its entirety by reference to the detailed information, including the substantial risks associated with an investment in the Company, which will appear in the Memorandum and other definitive Company documents.

This summary is not intended to be relied upon as the basis for an investment decision, and this summary is not, and should not be assumed to be, complete. In making an investment decision, prospective investors should conduct their own investigation and analysis of the data and descriptions set forth in this summary and must rely on their own examination of the investment opportunity, including the merits and risks involved. Prospective investors will be given the opportunity to review the actual documentation that will govern the rights and obligations of the parties. Qualified prospective investors may obtain from ECO such additional available information as they may reasonably request. Purchase of the Units is suitable only as an investment for, and will be offered only to, persons who have, directly or through qualified representatives, the ability to evaluate the merits and risks of an investment in the Units and the ability to assume the economic risks involved in such investment.

No person has been authorized to give any information or to make any representations other than to be contained in the Memorandum regarding the eventual offering, if any, of the Units. The contents of this summary are not to be construed as legal, accounting, business or tax advice. Each prospective investor should consult its own attorney, accountant, business advisor and tax advisor as to legal, accounting, business and tax advice. Neither ECO, nor any of its affiliates, is recommending that any recipient of this summary invest in the Units, and none of them represent or warrant that the Units are a suitable investment for such recipient.

The return data for investments set forth herein is for informational purposes only. It has not been audited or otherwise verified by any outside party. The past performance of the investment programs managed or controlled by ECO may not be indicative of the results that the Company may be able to achieve. Furthermore, the nature of, and risks associated with, the Company’s investments may differ from those investments and strategies undertaken historically by ECO with respect to other portfolios or investment vehicles that it manages. There can be no assurance that the Company’s investments will perform as well as past investments by ECO or that the Company will be able to avoid losses or that the Company will be able to make investments similar to such past investments managed by ECO.

An investment in the Company is speculative and involves a high degree of risk and is suitable only for sophisticated investors who can bear substantial investment losses. A prospective investor should review carefully the section of the Memorandum, when available, entitled “risk factors” and should consider such risks in their entirety and should consult with its legal and tax advisors. No assurance can be given that the investment objectives of the Company will be achieved or that an investor will receive a return of all or part of his, her or its investment, and investment results may vary substantially over any given time period.

The Units described herein, when and if offered, will not be registered under the Securities Act of 1933, as amended (the “1933 Act”) or any state or foreign securities laws, and the Units will be offered and sold only to persons that are “accredited investors” (as defined in Regulation D under the 1933 Act). The Units will be subject to certain restrictions on transferability and resale contained in the Company documents. The Units have not been approved or disapproved by the securities and exchange commission or any other state or foreign securities regulator. It is anticipated that the Company will be exempt from the registration requirements of the Investment Company Act, and investors will not be entitled to the protections of such act. The Company will not be subject to the registration and other obligations under the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder.

All statements and expressions are the sole opinion of ECO and are subject to change without notice. Certain information contained in this document constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or other comparable terminology.

Due to various risks and uncertainties, including those described in this document, actual events or results or the actual performance of the Company may differ materially from those reflected or contemplated in such forward-looking statements. In particular, and without limiting the generality of the foregoing, any projections, target returns, market outlooks, estimates or other projected investment parameters presented in this document are forward-looking statements, are based upon certain assumptions and are based on the prior experience of ECO. Any projections, target returns, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. Other events which were not taken into account may occur and may significantly affect the returns or performance of the Company. Such targets and projections are not intended to serve as a hurdle rate or other benchmark for the Company’s performance or portfolio and no assurance is given that such targets and projections will in fact prove accurate. Accordingly, no representation or warranty is made as to future performance or such forward-looking statements.

Securities offered through Easterly Securities LLC, member FINRA/SIPC.

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