PERFORMANCE SHIPPING INC. PROVIDES UPDATE ON POTENTIAL FORWARD SALE AGREEMENT FOR M/T P. SOPHIA (Form 6-K)

PERFORMANCE SHIPPING INC. PROVIDES UPDATE ON POTENTIAL FORWARD SALE AGREEMENT FOR M/T P. SOPHIA

ATHENS, GREECE - December 5, 2025 - Performance Shipping Inc. (NASDAQ: PSHG) ("we" or the "Company"), a global shipping company specializing in the ownership of tanker vessels, today announced that the previously disclosed potential forward sale of the 2009-built Aframax tanker, M/T P. Sophia, will not materialize.

As announced on April 7, 2025, the Company had entered into a forward sale and exclusivity agreement with an unaffiliated third party (the "Buyer"), granting the Buyer the exclusive right to submit a bid for the conversion of the M/T P. Sophia into a Floating Production Storage and Offloading (FPSO) unit for a proposed offshore project (the "Offshore Project"). The Buyer has informed the Company that the M/T P. Sophia was not selected for the Offshore Project. As a result, the potential forward sale and exclusivity agreement has automatically lapsed, no sale will be completed under its terms, and the vessel will continue to operate in the Company's fleet.

About the Company

Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company employs its fleet on spot voyages, through pool arrangements, and on time charters.