Performance Shipping Inc. Announces Results of 2021 Annual Meeting of Shareholders

ATHENS, GREECE, March 3, 2021 – Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tankers, today announced that the Company’s Annual Meeting of Shareholders (the “Meeting”) was duly held on February 25, 2021, in a virtual format only via the Internet, pursuant to a Notice of Annual Meeting of Shareholders dated January 15, 2021. Broadridge Financial Solutions, Inc. acted as inspector of the Meeting.

At the Meeting, each of the following proposals, which are set forth in more detail in the Notice of Annual Meeting of Shareholders and the Company's Proxy Statement sent to shareholders on or around January 15, 2021, was approved and adopted:

(1) The election of Aliki Paliou and Reidar Brekke as Class II Directors of the Company, to serve until the Company's 2024 Annual Meeting of Shareholders; and

(2) The appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A. as the Company's independent auditors for the fiscal year ending December 31, 2021.