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IMPERIAL PETROLEUM INC . REPORTS SECOND QUARTER AND SIX MONTHS 2026 FINANCIAL AND OPERATING RESULTS ATHENS , GREECE , September 10 , 2026 - IMPERIAL PETROLEUM INC . ( NASDAQ : IMPP ; the " Company " ) , a ship - owning company providing petroleum products , crude oil and dry bulk seaborne transportation services , announced today its unaudited financial and operating results for the second quarter and six months ended June 30 , 2026 . OPERATIONAL AND FINANCIAL HIGHLIGHTS • Fleet operational utilization of 73.5 % in Q2 26 ' • Approximately 50 % of total fleet calendar days in Q2 26 ' were dedicated to time charter activity while approximately 39 % were dedicated to spot activity . • Delivery of the dry bulk carrier , Eco Crossfire ( 2012 built ) , on April 3 , 2026 and delivery of the drybulk carrier , Outrider ( 2016 built ) , on August 21 , 2026 . • Sale of our tanker Suez Enchanted ( 2007 built ) to third parties , on August 7 , 2026 , creating a net gain on sale of approximately $ 32 million . • All - time high quarterly revenues of $ 87.1 million in Q2 26 ' compared to $ 61.7 million in Q1 26 ' and $ 36.3 million in Q2 25 ' , representing a 41.2 % increase and a 139.9 % increase , respectively . • Near all - time high operating income of $ 33.4 million in Q2 26 ' marking a $ 6.9 million or 26.0 % increase compared to Q1 26 ' and a $ 25.2 million or 307.3 % increase compared to Q2 25 ' • Net income of $ 34.8 million in Q2 26'- the second best in our history- compared to $ 28.0 million in Q1 26 ' , and $ 12.8 million in Q2 25 ' , representing a 24.3 % and 171.9 % increase , respectively . • Basic EPS of $ 0.75 in Q2 26 ' and $ 1.34 for 6M 2026 . • EBITDA1 of $ 41.2 million for Q2 26 ' • Continued enhancement of our liquidity through efficient vessel operations ; cash and cash equivalents including time deposits of $ 245.2 million as of June 30 , 2026 compared to $ 179.1 million as of December 31 , 2025 - corresponding to an increase of 36.9 % . Our current cash base is about $ 260 million . • For the 6M ' 2026 our Net Income came in at $ 62.8 million , already exceeding our 12M ' 2025 net income performance of $ 50.0 million . Second Quarter 2026 Results : • Revenues for the three months ended June 30 , 2026 , amounted to $ 87.1 million , an increase of $ 50.8 million or 139.9 % , compared to revenues of $ 36.3 million for the three months ended June 30 , 2025 , primarily due to a 6.9 vessel increase in the average number of vessels in our fleet , along with an increase in both tanker and drybulk rates driven by geopolitical tensions , mostly affecting the tanker vessels , and favorable market dynamics in the drybulk market . • Voyage expenses and vessels ' operating expenses for the three months ended June 30 , 2026 , were $ 22.1 million and $ 14.4 million , respectively , compared to $ 10.7 million and $ 8.4 million , respectively , for the three months ended June 30 , 2025. The $ 11.4 million increase in voyage expenses is mainly attributed to increased bunker costs by mainly due to an increase in spot days by 58.4 % and increased bunkers ' prices . The $ 6.0 million increase in vessels ' operating expenses is primarily due to the increase of our fleet by an average of 6.9 vessels . • Drydocking costs for the three months ended June 30 , 2026 and 2025 were $ 7.5 million and $ 1.7 million , respectively . During the three months ended June 30 , 2026 , six vessels underwent drydocking whereas during the three months ended June 30 , 2025 , one suezmax tanker and one supramax drybulk carrier underwent drydocking . • General and administrative costs for the three months ended June 30 , 2026 and 2025 , were $ 1.1 million in each period . • Depreciation for the three months ended June 30 , 2026 and 2025 , was $ 8.2 million and $ 5.7 million , respectively . The change is attributable to the increase in the average number of vessels in our fleet . • Management fees for the three months ended June 30 , 2026 and 2025 , were $ 0.8 million and $ 0.6 million , respectively . The change is attributable to the increase in the average number of vessels in our fleet . Interest and finance costs for the three months ended June 30 , 2026 and 2025 , were $ 0.4 million and $ 0.8 million , respectively . The $ 0.4 million of costs for the three months ended June 30 , 2026 related mainly to accrued interest expense - related party in connection with the $ 19.2 million and $ 12.3 million portions of the acquisition price of our bulk carriers , Post Marvel and Eco Crossfire , respectively , which were completely settled in the third quarter of 2026. The $ 0.8 million of costs for the three months ended June 30 , 2025 related mainly to accrued interest expense - related party in connection with our last nine vessel acquisitions , for which the purchase agreements allowed vessel repayment to take place within up to one year from the agreement date . For accounting purposes , the outstanding balances payable on the vessels were required to be allocated between principal and imputed interest , despite the fact that no interest was contractually charged by the sellers . The total amount ultimately paid remains consistent with the originally agreed purchase prices . • Interest income for the three months ended June 30 , 2026 , was $ 2.1 million as compared to $ 2.3 million for the three months ended June 30 , 2025. The $ 0.2 million decrease is mainly attributed to a period on period decline in time deposit rates and