Performance Shipping Inc. Announces Completion of Sale and Delivery of M/T P. Aliki to New Owners

ATHENS, GREECE, September 17, 2026 - Performance Shipping Inc. (NASDAQ: PSHG) (“Performance Shipping” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced that, through a separate wholly-owned subsidiary, it has completed the previously announced sale of the 2010-built, 105,304 dwt Aframax tanker vessel M/T P. Aliki, with the successful delivery of the vessel to her new owners. The M/T P. Aliki was debt-free at the time of her delivery to the new owners, following the Company’s prepayment of approximately US$12.8 million to Alpha Bank in July 2026 in connection with the sale.

As previously announced on April 14, 2026, the gross sale price of the vessel was US$42.65 million. The Company acquired the M/T P. Aliki in the fourth quarter of 2022 for a gross purchase price of US$36.5 million and operated the vessel profitably for approximately four years.

Commenting on the delivery, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:

“The sale of the M/T P. Aliki reflects our disciplined approach to fleet renewal. We continue to focus on the timely disposals of vessels at historically high asset values to monetize older tonnage. The net proceeds from this transaction, estimated at approximately US$30 million including the vessel’s debt prepayment, together with our existing strong liquidity position, are expected to support our ongoing fleet expansion program, almost fully covering our remaining newbuilding commitments. With our first LR1 newbuilding expected to be delivered in early 2027, followed by our two Suezmax newbuildings in late 2028 and early 2029, we remain committed to operating an attractive, modern, high specification and energy efficient fleet.”