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Maroussi, Athens, Greece - February 24, 2026 Euroholdings Ltd (NASDAQ: EHLD, the "Company" or "Euroholdings"), an owner and operator of container carrier and tanker vessels and provider of container and tanker seaborne transportation services, announced today its results for the three and twelve-month periods ended December 31, 2025. The Company was incorporated by Euroseas Ltd. (NASDAQ: ESEA, or "Euroseas") to serve as the holding company of three subsidiaries that were contributed by Euroseas to Euroholdings effective January 1, 2025; Euroseas spun-off Euroholdings on March 17, 2025, which has since been operated as an independent company. The results below refer to Euroholdings and its subsidiaries for the periods presented. Historical comparative periods reflect the results of the carve-out operations of the three vessels that were contributed to the Company. Fourth Quarter 2025 Financial Highlights: • Total net revenues of $4.5 million. Net income of $1.3 million or $0.45 earnings per share basic and diluted. Adjusted net income1 for the period remained unchanged at $1.3 million or $0.45 per share basic and diluted. • Adjusted EBITDA1 was $1.6 million. • An average of 2.5 vessels were owned and operated during the fourth quarter of 2025 earning an average time charter equivalent rate of $18,778 per day. • Declared a quarterly dividend of $0.14 per share for the fourth quarter of 2025, as in previous quarters, which is payable on or about March 17, 2026, to shareholders of record on March 10, 2026. Twelve Months 2025 Financial Highlights: • Total net revenues of $13.2 million. Net income of $14.7 million or $5.25 earnings per share basic and diluted. Adjusted net income1 for the period was $4.5 million or $1.60 per share basic and diluted. • Adjusted EBITDA1 was $4.7 million. • An average of 2.2 vessels were owned and operated during the twelve months of 2025 earning an average time charter equivalent rate of $16,986 per day. (1) Adjusted EBITDA, Adjusted net (loss) / income and Adjusted (loss) / income per share are not recognized measurements under US GAAP (GAAP) and should not be used in isolation or as a substitute for Euroholdings financial results presented in accordance with GAAP. Refer to a subsequent section of the Press Release for the definitions and reconciliation of these measurements to the most directly comparable financial measures calculated and presented in accordance with GAAP. Recent developments: On November 18, 2025, M/T Hellas Avatar, a medium-range (MR) product tanker vessel with capacity of 49,997 dwt, built in 2015 in South Korea, was delivered to the Company. The vessel was purchased for a price of $31.83 million from an affiliated party. An independent committee of disinterested directors was formed to evaluate and approve the transaction. A loan of $20.0 million was drawn from Piraeus Bank S.A. to partly finance the acquisition of the vessel. Aristides Pittas, Chairman, President and CEO of Euroholdings, commented: "One more time, we are pleased to report solid results for the fourth quarter of 2025, consistent with our performance in the previous quarters. Our elder containerships are contracted out until the end of this year on profitable charters making significant cash flow contributions, with the potential for at least one of them, and possibly both, to be re-chartered for additional periods if market conditions would allow it. In line with our strategic repositioning, in November 2025, we completed the acquisition of a 2015-built medium-range product tanker marking an important step in the re-focusing of our investments in the product tanker sector. We plan to further strengthen and grow our fleet in this sector through the purchase of an additional modern medium-range product tanker in the very near future. Furthermore, we are pleased to declare our fourth quarterly dividend, representing an annualized yield of approximately 8%, supported by the strong earnings generated from our existing fleet. We remain firmly committed to positioning Euroholdings as a leading publicly listed owner and operator in the product tankers sector which we believe offers compelling structural fundamentals and growing relevance across both the global energy landscape and the capital markets. Through disciplined expansion and operational excellence, we aim to strengthen our competitive position, broaden our market presence, and establish a scalable platform for sustained expansion." Athina Atalioti, Chief Financial Officer of Euroholdings, commented: "Comparing our results for the fourth quarter of 2025 with the same period of 2024, our net revenues increased by about $0.9 million, due to the increased time charter equivalent rates our vessels earned in the fourth quarter of 2025 as compared to the fourth quarter of 2024. On a per-vessel-per-day basis, our vessels earned an average time charter equivalent rate of $18,778, 17.5% higher compared to $15,982 average time charter equivalent rate for the same period of 2024. In the fourth quarter of 2025, the Company owned and operated 2.5 vessels on average as compared to 3.0 vessels for the same period of 2024. Total daily vessel operating expenses, including management fees, general and administrative expenses but excluding drydocking costs, averaged $8,372 per vessel per day during the fourth quarter of 2025 as compared to $8,088 per vessel per day for the same quarter of last year. This increase is mainly due to higher daily general and administrative expenses as a result of the fewer vessels we owned during the period as compared to the same period of 2024. Adjusted EBITDA1 during the fourth quarter of 2025 was $1.6 million versus $(0.9) million in the fourth quarter of last year." Fourth Quarter 2025 Results: For the fourth quarter of 2025, the Company reported total net revenues of $4.5 million representing a 24.9% increase over total net revenues of $3.6 million during the fourth quarter of 2024. On average, 2.5 vessels were owned and operated during the fourth quarter of 2025 earning an average time charter equivalent rate of $18,778 per day compared to 3.0 vessels in the same period of 2024 earning on average $15,982 per day. For the fourth quarter of 2025, voyage expenses amounted to $0.7 million and mainly relate to expenses incurred by one of our vessels while employed under a voyage charter, as compared to $0.1 million in the same period of 2024 which mainly included owners' expenses in various ports. Vessel operating expenses decreased to $1.4 million for the fourth quarter of 2025 from $1.8 million in the same period of 2024. The decrease is mainly attributable to the decreased average number of vessels owned and operated during the recent period. During the fourth quarter of 2025, one vessel commenced her special survey with dry-dock to complete it during the first quarter of 2026, for a total cost of $0.3 million. During the fourth quarter of 2024 two of our vessels completed their special survey with drydock for a total cost of $2.2 million. Vessel depreciation for the fourth quarter of 2025 increased to $0.25 million from $0.01 million in the fourth quarter of 2024, as a result of the depreciation charge for the newly acquired vessel within the fourth quarter of 2025. Related party management fees for the period were $0.3 million for the fourth quarter of 2025 as compared to $0.2 million for the same period of 2024. This was the result of the adjustment for inflation in the daily vessel management fee, effective from January 1, 2025, for the container vessels from 810 Euros to 840 Euros per vessel per day and the unfavorable movement of the euro/dollar exchange rate during the period. The management fee for the container vessels is paid to Eurobulk Ltd. A rate of 1,250 Euros per day is paid for the tanker vessel. The manager for the tanker vessel is Latsco Marine Management Inc. General and administrative expenses remained unchanged at $0.2 million for both the fourth quarters of 2025 and 2024. Interest and finance cost increased to $0.1 million in the fourth quarter of 2025 compared to nil for the same period of 2024. This was the result of the loan drawn down for the acquisition of M/V "Hellas Avatar" in the fourth quarter of 2025. Interest income increased to $0.1 million for the fourth quarter of 2025 compared to nil in the same period of 2024. The increase in interest income is attributable to higher cash balances maintained during the fourth quarter of 2025 compared to the corresponding period in 2024. The Company reported net income for the fourth quarter of 2025 of $1.3 million, as compared to net loss of $0.9 million for the same period of 2024. Adjusted EBITDA1 for the fourth quarter of 2025 was $1.6 million compared to $(0.9) million achieved during the fourth quarter of 2024. Basic and diluted earnings per share for the fourth quarter of 2025 was $0.45 calculated on 2,816,615 basic and diluted weighted average number of shares outstanding, compared to basic and diluted loss per share of $0.34 for the fourth quarter of 2024, calculated on 2,780,855 basic and diluted weighted average number of shares outstanding. The adjusted earnings for the quarter ended December 31, 2025, increased to $0.45 per share basic and diluted compared to adjusted loss of $0.34 per share basic and diluted for the quarter ended December 31, 2024. Twelve Months 2025 Results: For the twelve months of 2025, the Company reported total net revenues of $13.2 million representing a 15.4% decrease over total net revenues of $15.6 million during the twelve months of 2024, which was the result of the lower average numbers of vessels operated during 2025 compared to the same period of 2024. On average, 2.2 vessels were owned and operated during 2025 earning an average time charter equivalent rate of $16,986 per day compared to 3.0 vessels in the same period of 2024 earning on average $15,025 per day. In 2025, voyage expenses were $0.8 million and mainly relate to owners' expenses in various ports and expenses incurred by one of our vessels while employed under a voyage charter. For the same period of 2024, voyage expenses were $1.0 million and relate to vessels repositioning between charters, expenses incurred by one of our vessels while employed under a voyage charter and expenses during operational off-hire and scheduled off-hire time. Vessel operating expenses were $4.7 million for 2025 as compared to $6.4 million for 2024. The decrease is mainly attributable to the lower number of vessels operating in 2025 compared to the corresponding period in 2024. Related party management fees for 2025 decreased to $0.9 million from $1.0 million for the same period of 2024 due to the lower number of vessels operating in 2025 partly offset by the adjustment for inflation in the daily vessel management fee of the container vessels, effective from January 1, 2025, increasing it from 810 Euros to 840 Euros, the unfavorable movement of the euro/dollar exchange rate during the period and the rate of 1,250 Euros per day paid for the tanker vessel. General and administrative expenses for 2025 were $1.5 million compared to $0.8 million for the same period of 2024. The increased general and administrative expenses reflect mainly expenses related to the Company being public, including the compensation expense recognized due to accelerated vesting of share-based awards upon the change of control. During 2025 one of our vessels completed its intermediate survey and another one entered dry-dock in order to pass its special survey that was completed in 2026, for a total cost of $0.6 million. During 2024 two of our vessels passed their special survey for a total cost of $2.6 million. Vessel depreciation for 2024 was $0.04 million as a result of the fact that two of the three vessels of the Company were fully depreciated during 2023 while the last one was fully depreciated in the first semester of 2024. Vessel depreciation for 2025 was $0.3 million as a result of the depreciation charge for the newly acquired vessel within the fourth quarter of 2025. On January 10, 2025, the Company signed an agreement to sell M/V Diamantis P, a 2,008 teu container carrier, built in 1998, for further trading, for approximately $13.2 million, resulting in a gain on sale of $10.2 million. Interest and other financing costs for 2025 were $0.1 million as a result of the loan drawn down for the acquisition of M/V "Hellas Avatar" in the fourth quarter of 2025. For the same period of 2024 interest and other financing costs amounted to $0.1 million interest being incurred on the Company's bank debt prior to it being fully repaid in March 2024. Interest income increased to $0.2 million in 2025, compared to nil in the same period of 2024. The increase in interest income is attributable to higher cash balances maintained during 2025 compared to the corresponding period in 2024. The Company reported net income for the period of $14.7 million, as compared to net income of $3.8 million, in 2024. Adjusted EBITDA1 for 2025 was $4.7 million compared to $3.9 million achieved during 2024. Basic and diluted earnings per share for 2025 was $5.25, calculated on 2,799,666 basic and diluted weighted average number of shares outstanding compared to earnings per share of $1.36, calculated on 2,780,855 basic and diluted weighted average number of shares outstanding for the year 2024. Excluding the effect on the earnings of the gain on sale of vessel, the adjusted earnings for the year ended December 31, 2025, would have been $1.60 per share basic and diluted, compared to adjusted earnings of $1.36 per share basic and diluted, for the year ended December 31, 2024. Usually, security analysts do not include the above item in their published estimates of earnings per share. Full report About EuroHoldings Ltd. EuroHoldings Ltd. was incorporated on March 20, 2024 under the laws of the Republic of the Marshall Islands. The Company was incorporated by Euroseas Ltd. (NASDAQ: ESEA) to serve as the holding company of three of its vessel-owning subsidiaries. Shares of EuroHoldings Ltd. were distributed to Euroseas Ltd. shareholders on March 17, 2025. EuroHoldings Ltd. is a provider of worldwide ocean-going transportation services. The Company's operations are managed by Eurobulk Ltd. an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. The Company has a fleet of two feeder containership vessels with a cargo capacity of 40,882 dwt, or 3,171 teu. After the delivery of the first product tanker in November 2025, Euroholdings' mixed fleet will consist of 3 vessels with a total carrying capacity of 90,879 dwt. EuroHoldings Ltd. is listed on the Nasdaq Capital Market under the symbol "EHLD". EuroHoldings Ltd. press release 
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