Slide 1: Performance Shipping Inc. June 2025
PERFORMANCE SHIPPING INC. June 2025
Slide 2: Disclaimers
PERFORMANCE SHIPPING INC. DISCLAIMERS Inclusion of information in this report is not an Matters discussed in this report and the In addition to these important factors, other indication that we deem such information to be documents incorporated by reference may important factors that, in our view, c
Slide 3: Company Overview
PERFORMANCE SHIPPING INC. Company Overview 02
Slide 4: Company Profile
PERFORMANCE SHIPPING INC. COMPANY PROFILE Transitioned to pure tanker fleet, new management, simple corporate structure, new strategy implementation Nasdaq: PSHG Pure Aframax/ (2) Publicly Listed since 2011 LR Tanker 10 Tanker Vessels Company In-House Established Commercial ESG Driven Commercial and
Slide 5: Experienced Senior Management
PERFORMANCE SHIPPING INC. EXPERIENCED SENIOR MANAGEMENT M IHALIS BO U TARIS Aliki Paliou Andreas Michalopoulos Anthony Argyropoulos Chair of the Board Director, Chief Executive Officer, Treasurer Chief Financial Officer and Secretary ▪ Director Performance Shipping Inc. ▪ Ex-CFO Performance Shipping
Slide 6: Fleet Profile
PERFORMANCE SHIPPING INC. FLEET PROFILE BLUE MOON BRIOLETTE P. SOPHIA P. ALIKI P. MONTEREY P. LONG BEACH Year 2011 2011 2009 2010 2011 2013 Number of Average age(1) vessels Builder Sumitomo Sumitomo Hyundai Heavy Hyundai Heavy Hyundai Heavy Hyundai Heavy Heavy Heavy Industries Co., Industries Co., I
Slide 7: Employment Profile
PERFORMANCE SHIPPING INC. EMPLOYMENT PROFILE 5 Aframax tankers are currently operating under time charters Current secured revenues of approximately $255 million, including the time charter employment contracts for the newbuilding tankers Estimated average contracted rate of approximately $33,000 an
Slide 8: Focused Business Strategy
PERFORMANCE SHIPPING INC. FOCUSED BUSINESS STRATEGY Transparent company provides investors with low leverage, significant exposure to the tanker sector ▪ Growing sector presence ▪ High specifications & quality, reputable yards Fleet Composition ▪ Mid-point age profile acquisitions ≈ 12 years ▪ Conti
Slide 9: Newbuild Program
PERFORMANCE SHIPPING INC. NEWBUILD PROGRAM Four oil tankers under construction with expected deliveries between mid 2025 and early 2027 • Total Construction Cost of $249.5 million • Fleet-wide Revenue Backlog • Equipped with the latest high- stands at $255 million specification engines representing
Slide 10: Technical & Commercial Management
PERFORMANCE SHIPPING INC. TECHNICAL & COMMERCIAL MANAGEMENT Technical & Commercial Manager, Performance Shipping Management Inc., our wholly-owned subsidiary Access to Top-Tier Charterers Established efficient operations with low vessel operating expenses We fully fund all commercial and technical s
Slide 11: Financial Presentation
PERFORMANCE SHIPPING INC. Financial Presentation 10
Slide 12: Financial Highlights
PERFORMANCE SHIPPING INC. The table below illustrates our statement of operations and other data for the three months ended on March 31, 2025, and March 31, 2024, respectively FINANCIAL HIGHLIGHTS Statement of Operations 3M ended March 31, 2025 3M ended March 31, 2024 (Expressed in millions of U.S.
Slide 13: Debt Description
PERFORMANCE SHIPPING INC. Bank Relationships DEBT DESCRIPTION Indebtedness exclusively comprising of efficient secured amortizing loan from relationship banks, with annual repayment and no debt maturities prior to late 2027 Debt Annual Debt Outstanding Vessel Drawdown Repayment Interest Rate Maturit
Slide 14: Solid Balance Sheet
PERFORMANCE SHIPPING INC. SOLID BALANCE SHEET March 2025 Pro-forma four newbuilding vessels # of Tankers 10 Asset Value (1) $488.9m AV / Ship $48.9m Bank Debt (2) $45.8m Cash (3) $108.3m Net Bank Debt -$62.5m LTV (4) 19.1% (1) Company’s estimate as of the end of the first quarter of 2025 and adjuste
Slide 15: Equity Capital Markets
PERFORMANCE SHIPPING INC. EQUITY CAPITAL MARKETS Company has one class of Common Shares (Nasdaq: PSHG) trading below cash, much below replacement cost and at very deep discount to net asset value 1 Exchange Nasdaq 2 Category Capital Market 3 Ticker PSHG 4 Outstanding Common 12,432,158 Shares 5 Indic
Slide 16: Preferred Stock
PERFORMANCE SHIPPING INC. PREFERRED STOCK Series B Cumulative Perpetual Preferred Stock Series C Convertible Cumulative Redeemable Perpetual Preferred Stock # Shares In January 2022, the Company issued Series B 50,726 1,423,912 Outstanding Preferred Shares $ Value $1.3m $35.6m Subsequently, several
Slide 17: Historical Rates vs Cash Break-Even
PERFORMANCE SHIPPING INC. HISTORICAL RATES VS CASH BREAK-EVEN Indicative Run Rate Cash Break-even assuming 6 tanker fleet Aframax 5-Year Historical Spot Rate operations for a full fiscal year (Q2 2020 –Q1 2025) $100,000 Indicative Run Rate Cash Break-even $90,000 Amounts in millions except daily fig
Slide 18: Attractive Equity Story
PERFORMANCE SHIPPING INC. ATTRACTIVE EQUITY STORY Performance Shipping is executing a clear strategy offering strong foundation for growth and shareholder value creation 1. The only listed pure-play Aframax/LR tanker company. Greatest operational trading flexibility among crude oil segments 2. Attra
Slide 19: Corporate Offices
PERFORMANCE SHIPPING INC. CORPORATE OFFICES Performance Shipping Inc. 373 Syngrou Ave., 17564 Palaio Faliro, Athens, Greece www.pshipping.com