Performance Shipping Inc. Regains Compliance with Nasdaq Minimum Bid Price Requirement

ATHENS, GREECE, November 18, 2020 – Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tankers, today announced that the Nasdaq Stock Market (“Nasdaq”) has confirmed that the Company has regained compliance with Nasdaq's minimum bid price requirements for continued listing on the Nasdaq Capital Market. The letter noted that as a result of the closing bid price of the Company's common shares having been at $1.00 per share or greater for at least ten consecutive business days, from November 2, 2020 through November 13, 2020, the Company has regained compliance with Nasdaq’s Listing Rule 5550(a)(2), and the matter is now closed.

Commenting on this, Mr. Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:

“As a publicly listed company since 2011, we are fully committed to maintaining our Nasdaq listing and we welcome the notification from Nasdaq confirming that we have regained compliance.”