Performance Shipping (PSHG) investor relations material

Executive summary

• Net income for Q2 2026 was $11.9 million, up from $9.1 million in Q2 2025; net income attributable to common stockholders was $13.9 million, up from $8.6 million year-over-year.

• Revenue for Q2 2026 reached $34.7 million, a significant increase from $18.1 million in Q2 2025, driven by fleet expansion and higher TCE rates.

• First half 2026 revenue totaled $68.4 million, with net income attributable to common stockholders at $23.7 million.

Financial highlights

• Q2 2026 TCE rate averaged $32,872, up from $32,295 in Q2 2025.

• Net cash from operating activities in Q2 2026 was $19.7 million, up from $11.3 million in Q2 2025.

• Earnings per share (basic/diluted) for Q2 2026 were $1.12/$0.37, compared to $0.69/$0.23 in Q2 2025.

• Cash, cash equivalents, and restricted cash stood at $106 million at quarter end.

Outlook and guidance

• Contracted revenue backlog exceeded $500 million as of mid-2026, with average remaining duration of 3.4 years and charter coverage through 2030.

• Average contracted time charter rate of $32,500 per day through 2030, covering projected daily cash expenses through 2028.

• Spot cash break-even expected to rise from near zero to $14,300/day by 2030.