Euroseas Ltd. Announces 3-Year Charter Contract Extension for its 2007-built Feeder Containership, EM Kea

About this update from Euroseas Ltd.

ATHENS, Greece , April 15, 2026 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today a charter contract extension for its 2007-built 3,100 teu feeder containership, EM Kea, for a minimum period of 36 to a maximum period of 38 months, at the charterer’s option, at a gross daily rate of $30,000 . The new charter period will commence on July 14, 2026 , in direct continuation of its present charter, and represents a daily increase of close to 60% over the vessel’s current rate. Aristides Pittas , Chairman and CEO of Euroseas , commented: “We are very pleased to announce that we have extended the time charter contract for our 2007-built EM Kea with a top-class charterer, in direct continuation of its present charter, for a period of 36 to 38 months at a profitable rate of $30,000 per day. This fixture demonstrates the ongoing shortage of prompt tonnage, which along with macroeconomic disruptions and continued uncertainty caused by the war in the Middle East , continue to sustain the firmness of the containership charter market. The three-year charter extension also reflects the strong collaboration between us and the charterer and, we believe, underscores the mutual confidence and trust between our companies. The charter is expected to generate about $22.5 million of EBITDA over the minimum contracted period and increases our charter coverage for 2026, 2027, and 2028 to about 91%, 76% and 44% respectively.” Fleet Profile: The Euroseas Ltd. fleet profile is currently as follows: Name Type Dwt TEU Year Built Employment (*) TCE Rate ($/day) Container Carriers SYNERGY BUSAN (*) Intermediate 50,727 4,253 2009 TC until Dec-27 $35,500 SYNERGY ANTWERP (*) Intermediate 50,727 4,253 2008 TC until May-28 $35,500 SYNERGY OAKLAND(*) Intermediate 50,788 4,253 2009 TC until May-26Then until Mar-2029 $42,000 $33,500 SYNERGY KEELUNG(*) Intermediate 50,697 4,253 2009 TC until Jun-28 $35,500 EMMANUEL P(*) Intermediate 50,796 4,250 2005 TC until Sep-28 $38,000 RENA P(*) Intermediate 50,765 4,250 2007 TC until Aug-28 $35,500 EM KEA (*) Feeder 42,165 3,100 2007 TC until Jul-26Then until Jun-29 $19,000 $30,000 GREGOS(*) Feeder 38,733 2,800 2023 TC until Apr-26Then until Mar-29 $48,000 $30,000 TERATAKI(*) Feeder 38,733 2,800 2023 TC until Jul-26Then until Jun-29 $48,000 $30,000 TENDER SOUL(*) Feeder 38,733 2,800 2024 TC until Oct-27 $32,000 LEONIDAS Z (+)(*) Feeder 38,733 2,800 2024 TC until May-26Then until Apr-29 $20,000 $30,000 DEAR PANEL Feeder 38,733 2,800 2025 TC until Nov-27 $32,000 SYMEON P Feeder 38,733 2,800 2025 TC until Nov-27 $32,000 EVRIDIKI G(+) Feeder 34,654 2,556 2001 TC until Jun-26 $29,500 EM CORFU (*) Feeder 34,649 2,556 2001 TC until Aug-26 $28,000 STEPHANIA K(*) Feeder 22,563 1,800 2024 TC until May-26 $22,000 MONICA(*) Feeder 22,563 1,800 2024 TC until May-27 $23,500 PEPI STAR(*) Feeder 22,563 1,800 2024 TC until Jun-26 $24,250 EM SPETSES(+)(*) Feeder 23,224 1,740 2007 TC until Feb-28 $21,500 JONATHAN P(*) Feeder 23,732 1,740 2006 TC until Oct-26 $25,000 EM HYDRA (*) Feeder 23,351 1,740 2005 TC until May-27 $19,000 Total Container Carriers on the Water 21 786,362 61,144 Vessels under construction Type Dwt TEU To be delivered Employment TCE Rate ($/day) ELENA (YZJ-1711) (**) Intermediate 56,266 4,484 Q3 2027 TC until Jun-31 $35,500 NIKITAS G (YZJ-1712) (**) Intermediate 56,266 4,484 Q4 2027 TC until Sep-31 $35,500 THRYLOS(YZJ-1768) (**) Intermediate 56,266 4,484 Q1 2028 TC until Feb-32 $35,500 SOCRATES CH (YZJ-1769) (**) Intermediate 56,266 4,484 Q2 2028 TC until Apr-32 $35,500 DANAI (HCY- 438) Feeder 35,100 2,798 Q2 2028 NENI (HCY- 439) Feeder 35,100 2,798 Q3 2028 Total under construction 6 295,263 23,532 Notes:(*)TC denotes time charter. Charter duration indicates the earliest redelivery date; all dates listed are the earliest redelivery dates under each TC unless the contract rate is lower than the current market rate in which cases the latest redelivery date is assumed; vessels with the latest redelivery date shown are marked by (+). (**) The charterer has the option until Nov-2026 to extend the charters by one year with the rate for the five-year period becoming $32,500 /day. About Euroseas Ltd. Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece , which has been in the shipping business over the past 150 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas' operations are managed by Eurobulk Ltd. , an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. The Company has a fleet of 21 vessels, including 15 Feeder containerships and 6 Intermediate containerships with a cargo capacity of 61,144 teu. After the delivery of four intermediate and two feeder containership newbuildings in 2027 and 2028, respectively, Euroseas’ fleet will consist of 27 vessels with a total carrying capacity of 84,676 teu. Forward-Looking Statement This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States ; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Visit our website www.euroseas.gr Company Contact Investor Relations / Financial Media Tasos Aslidis Chief Financial Officer Euroseas Ltd. 11 Canterbury Lane , Watchung, NJ 07069Tel. (908) 301-9091E-mail: [email protected] Nicolas Bornozis Markella Kara Capital Link, Inc. 230 Park Avenue , Suite 1540 New York, NY 10169Tel. (212) 661-7566E-mail: [email protected] Source: Euroseas

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