Castor Maritime Inc. Announces the Acquisition of a Majority Stake in MPC Munchmeyer Petersen Capital AG

Limassol, Cyprus - December 12, 2024

Castor Maritime Inc. (NASDAQ: CTRM), ("Castor" or the "Company"), a diversified global shipping company, announces that on December 12, 2024, it entered, through a wholly owned subsidiary, into an Share Purchase Agreement ("SPA") with MPC Munchmeyer Petersen & Co. GmbH ("MPC Holding") for the acquisition of 26,116,378 shares representing 74.09% of the shares of the Frankfurt-listed investment and asset manager MPC Munchmeyer Petersen Capital AG (Deutsche Borse, Scale, ISIN DE000A1TNWJ4) ("MPC Capital").

The acquisition price of the shares has been agreed at a price of €7.00 per share, which is equal to an aggregate cost of €182.8 million payable in cash (approx. USD 192.6 million equivalent), excluding any transaction-related costs. As part of the transaction Castor secured a $100,000,000 new senior term loan facility and $50,000,000 proceeds from the issuance of 50,000 additional Series D cumulative convertible preferred shares, both from Toro Corp. (NASDAQ: TORO), ("Toro"), an entity controlled by Petros Panagiotidis, Castor's Chairman and CEO.

The terms of the loan facility and the Series D cumulative preferred shares were approved by the independent and disinterested members of the Boards of Toro and Castor, respectively, following the negotiation and recommendation by special committees of the independent and disinterested directors of the Boards of Toro and Castor, respectively.

The completion of the transaction is expected to take place during December 2024, and is subject to customary conditions for transactions of this type.

Petros Panagiotidis, Chief Executive Officer of the Company, commented:

"Today, Castor announces a strategic investment with the acquisition of the majority stake of MPC Capital. This transaction demonstrates our commitment to further growing our footprint in the shipping space but also diversifying our activities in the fast growing area of energy infrastructure. Castor as the new anchor sponsor of MPC Capital is aligned with its strategy, targeting continued growth and building on its established track record as an investment manager and operator within maritime and energy infrastructure sectors."

About MPC Munchmeyer Petersen Capital AG
MPC Munchmeyer Petersen Capital AG is an investment and asset manager specializing in infrastructure projects in the maritime and energy sectors. Partnering and co-investing with institutional investors, MPC Capital provides tailor-made investment solutions, excellent project access, and integrated asset management expertise, including technical and commercial ship management. Listed on the Frankfurt Stock Exchange since 2000, MPC Capital has assets under management (AuM) totaling EUR 4.8 billion.

MPC Capital is the founder and cornerstone shareholder of Oslo-listed MPC Container Ships ASA (Oslo Bors: MPCC) a leading container tonnage provider focusing on small to mid-size container ships, and MPC Energy Solutions NV (Oslo Bors: MPCES).

About Castor Maritime Inc.
Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels.

Castor owns a fleet of 13 vessels, with an aggregate capacity of 0.9 million dwt, consisting of four Kamsarmax dry bulk vessels, five Panamax dry bulk vessels, one Ultramax dry bulk vessel, one 1,850 TEU containership vessel, and two 2,700 TEU containership vessels including the M/V Ariana A the Company agreed to sell on November 13, 2024. Following the completion of the above transaction will also own 74.09% of MPC Capital.

Castor Maritime press release