Performance Shipping (PSHG) Investor presentation summary

Company overview and strategy

• Transitioned to a pure Aframax/LR tanker fleet with a simple corporate structure and new management focused on ESG and disciplined growth.

• Operates 10 tankers (6 on-water, 4 newbuildings) with established commercial relationships and in-house management.

• Maintains a secured revenue backlog of $255 million and net loan-to-value ratio of -26%.

• Focuses on transparent operations, low leverage, and presence in all major markets.

• Emphasizes fleet renewal, high-quality acquisitions, and ESG-driven sustainable development.

Fleet and employment profile

• Current fleet consists of six Aframax/LR2 tankers with an average age of 14 years and four newbuildings under construction.

• Five Aframax tankers operate under time charters, with secured revenues of $255 million.

• Average contracted rates are $33,000/day for nine months of 2025 and $31,300/day for 2026.

• Newbuild program includes four oil tankers with deliveries from mid-2025 to early 2027, total construction cost $249.5 million.

• Newbuildings feature high-spec engines, scrubbers, and focus on fuel efficiency and low emissions.

Financial highlights and capital structure

• Q1 2025 LTM revenue reached $86.4 million, with net income attributable to common stockholders at $28.97 million for Q1 2025.

• Earnings per share (basic) were $2.33 for Q1 2025, with fleet utilization at 97.6%.

• Solid balance sheet with $488.9 million asset value, $45.8 million bank debt, $108.3 million cash, and net LTV of -26.1%.

• Preferred stock outstanding valued at $36.9 million, with Series B and C offering conversion and redemption rights.

• Common shares trade on Nasdaq under PSHG at a deep discount to net asset value.