Pacific Basin Shipping : Acquisition of Four Handysize Newbuilding Vessels Presentation

About this update from Pacific Basin Shipping Limited

‌Acquisition of four Handysize newbuilding vessels for an aggregate consideration of US$119.2 million (US$29.8 million each) from Jiangmen Nanyang Ship Engineering Co., Ltd. ("JNS") in China Funded by cash reserves and/or bank borrowings: 10% upon contract signing 10% upon steel cutting 10% upon keel laying 10% upon launching 60% upon delivery Delivery in 1H 2028 (two in 1Q 2028 and two in 2Q 2028) How these four 40,000 dwt Handysize newbuilding vessels add value to our fleet outperformance Featuring the latest fuel-efficient, open-hatch and logs-fitted design with enhanced tank top and deck strength, offering greater cargo carrying capacity and flexibility than earlier standard Handysize designs Enabling scope for more triangulated trading and, in turn, increased time-charter-equivalent ("TCE") earnings Designed for greater fuel efficiency compared to the earlier single-fuel ship designs that they will replace Competitively priced with early delivery Purchase Activity in 2025 Vessel Type DWT Year Built MOA Delivery Handysize 37,561 2018 May 2025 Jun 2025 Handysize 40,020 2020 May 2025 Jul 2025 Handysize 40,020 2020 Jun 2025 Aug 2025 Supramax 63,633 2017 Dec 2025 Est. Jan 2026 ‌Remain committed to our disciplined fleet growth and renewal strategy to: Enhance scale and efficiency to meet strong customer demand Increase our market outperformance Sales Activity in 2025 Vessel Type DWT Year Built MOA Delivery Handysize 29,678 2005 Feb 2025 Feb 2025 Handysize 32,537 2002 Mar 2025 Mar 2025 Handysize 33,505 2005 Mar 2025 Mar 2025 Supramax 56,006 2005 Apr 2025 May 2025 Supramax 55,947 2005 May 2025 Jun 2025 Handysize 32,815 2005 Jul 2025 Jul 2025 Supramax 55,955 2005 Sep 2025 Sep 2025 Handysize 33,520 2006 Dec 2025 Est. Dec 2025 Comply with increasingly stringent fuel-efficiency regulations Deliver long-term shareholder value Recognising the cyclicality, seasonality and other factors that impact freight rates and asset values in dry bulk shipping, and considering the importance of maintaining a competitive cost base, we will seek well-timed opportunities to acquire young or new vessels of modern, efficient designs while disposing of the older, smaller and less efficient vessels ‌We continue to develop and leverage our growth optionality, including newbuildings from Japan and China as well as second-hand acquisition, period charter, M&A and other opportunities for growth Overview of PB Order Book 4 Handysize vessels from JNS in China to be delivered in 1H 2028 4 Ultramax LEV vessels from Nihon Shipyard Co. in Japan to be delivered between 4Q 2028 and 1H 2029 13 Long-term chartered with purchase options between 2026 and 2032 21 Additions to our core fleet Reasons for acquisition of the four Handysize newbuilding vessels The vessel specifications, the timing and the agreed consideration are considered attractive in the current market for newbuildings delivering in 2028 Long-term supply/demand balance appears attractive especially driven by an aging minor bulk fleet profile with 1/3 of fleet build 2009-2012 Considering the future yard capacity and prices, this ship purchase is a well-timed opportunity to acquire new vessels of modern and efficient designs, and now we have access to newbuilding order at quality yards in both China and Japan We opted for fuel efficient, but conventionally-powered, single-fuel design, mainly due to the lack of proven dual-fuel Handysize designs and the postponement in October 2025 of the International Maritime Organization's adoption of its planned Net Zero Framework and global measures

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