Performance Shipping Inc. Secures Substantially Improved Terms and Extension of Existing Nordea Bank Facility

08 Jul 2026 15:30 CEST

Performance Shipping Inc. (NASDAQ: PSHG) (“we” or the “Company”), a global
shipping company specializing in the ownership of tanker vessels, today
announced that, through two of its wholly-owned subsidiaries, it has entered
into a first supplemental agreement with Nordea Bank Abp NUF (“Nordea”),
amending its existing secured loan facility dated August 4, 2023.

Pursuant to the amendment, the maturity of the facility has been extended to
four years from the effective date of the supplemental agreement. In addition,
the margin applicable to the facility has been reduced from 2.50% per annum to
1.60% per annum. The amendment relates solely to the terms of the existing
facility and does not change the outstanding principal amount of the loan.

The facility remains secured and guaranteed by the Company.

Commenting on this agreement, Andreas Michalopoulos, the Company’s Chief
Executive Officer, stated:

“We are pleased to further strengthen our financing profile through this
favorable amendment with Nordea. The extended maturity, combined with the
reduced borrowing margin, meaningfully enhances our financial flexibility while
reducing our cost of capital. This transaction underscores the strength of our
long-standing relationship with Nordea and its continued support and confidence
in our business. With the extension of this facility's maturity by two years,
the Company now has no bank debt maturities scheduled prior to mid-2030, further
reinforcing our strong balance sheet and enhancing our long-term liquidity
profile.”

More information:
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677850_PSHG - Nordea - final - 8July26.pdf