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

ATHENS, GREECE, August 16, 2023 – Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, 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. Nasdaq’s 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 August 1, 2023 through August 14, 2023, the Company has regained compliance with Nasdaq’s Listing Rule 5550(a)(2), and the matter is now closed.