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Corporate Contact : Andreas Michalopoulos Chief Executive Officer , Director and Secretary Telephone : + 30-216-600-2400 Email : amichalopoulos@pshipping.com Website : www.pshipping.com Investor and Media Relations : Edward Nebb Comm - Counsellors , LLC Telephone : + 1-203-972-8350 Email : enebb@optonline.net PERFORMANCE SHIPPING INC . REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30 , 2026 ATHENS , GREECE , July 29 , 2026 – Performance Shipping Inc. ( NASDAQ : PSHG ) ( " we " or the " Company " ) , a global shipping company specializing in the ownership of tanker vessels , today reported net income of $ 11.9 million and net income attributable to common stockholders of $ 13.9 million for the second quarter of 2026 , compared to a net income of $ 9.1 million and net income attributable to common stockholders of $ 8.6 million for the same period in 2025. Earnings per share , basic and diluted , for the second quarter of 2026 were $ 1.12 and $ 0.37 , respectively . Revenue was $ 34.7 million ( $ 32.9 million net of voyage expenses ) for the second quarter of 2026 , compared to $ 18.1 million ( $ 17.6 million net of voyage expenses ) for the same period in 2025. This increase was mainly attributable to the increase in ownership days following the delivery of the newbuilding vessels P. Massport , P. Tokyo and P. Marseille in July 2025 , September 2025 , and January 2026 , respectively , and also of the secondhand Suezmax vessels P. Bel Air and P. Beverly Hills in December 2025 , partly offset by the sale of the P. Yanbu in March 2025. Fleetwide , the average TCE rate for the second quarter of 2026 was $ 32,872 , compared with an average rate of $ 32,295 for the same period in 2025 . During the second quarter of 2026 , net cash provided by operating activities was $ 19.7 million , compared with net cash provided by operating activities of $ 11.3 million for the second quarter of 2025 . Net income for the six months ended June 30 , 2026 , amounted to $ 22.1 million , compared to a net income of $ 38.5 million for the six months ended June 30 , 2025. Net income attributable to common stockholders for the six months ended June 30 , 2026 amounted to $ 23.7 million , while net income attributable to common stockholders for the six months ended June 30 , 2025 , amounted to $ 37.6 million . Commenting on the results of the second quarter of 2026 , Andreas Michalopoulos , the Company's Chief Executive Officer , stated : " The Company delivered another quarter of solid financial and operational performance , reflecting our long - term chartering strategy , disciplined fleet renewal program and conservative capital allocation . As a result , we generated revenues of $ 68.4 million during the first half of 2026 , reflecting average daily TCE rates of approximately $ 32,700 across our fleet , and delivered net income attributable to common stockholders of $ 23.7 million . 1