Euroseas Ltd. Announces 2-Year Charter Contract Extensions for its Modern 1,800 teu Feeder Containerships, M/V Stephania K and M/V Pepi Star

Maroussi, Athens, Greece - May 26, 2026

Euroseas Ltd. (NASDAQ: ESEA, the "Company" or "Euroseas"), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today charter contract extensions for its 2024-built 1,800 teu feeder containerships, M/V Stephania K and M/V Pepi Star, for a minimum period of 24 to a maximum period of 26 months, at the option of the charterer, at a gross daily rate of $25,500. The new charter periods will commence on July 28, 2026 and August 19, 2026, respectively, in direct continuation of the present charter contracts.

Aristides Pittas, Chairman and CEO of Euroseas commented: "We are very pleased to announce that we have extended the time charter contracts for our Hyundai-built sister vessels, M/V Stephania K and M/V Pepi Star with a top-tier charterer, in direct continuation of their present charters, for 24-26 months at a profitable rate of $25,500/day. This fixture demonstrates the continued demand for tonnage and the underlying strength of the containership charter market. The strong rate also reflects the premium that modern, fuel-efficient tonnage can command – especially in the current geopolitical environment, where the disruption of oil flows through the Strait of Hormuz has tightened global bunker fuel availability and driven prices higher, making eco-vessels increasingly attractive to charterers. The charters are expected to generate approximately $27 million of EBITDA over the minimum contracted period of both vessels and increase our charter coverage for 2026, 2027, and 2028 to about 96%, 86% and 48% respectively."

Fleet Profile:

The Euroseas Ltd. fleet profile is currently as follows:



Notes:
(*) TC denotes time charter. Charter duration indicates the earliest redelivery date; all dates listed are the earliest redelivery dates under each TC unless the contract rate is lower than the current market rate in which cases the latest redelivery date is assumed; vessels with the latest redelivery date shown are marked by (+).
(**) Charterer has the option to convert to a five-year charter at $32,500/day for the entire period.
(***) The entity owning the vessel is 51% owned by Euroseas Ltd. and 49% by NRP Investors

About Euroseas Ltd.
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 150 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA.

Euroseas operates in the container shipping market. Euroseas' 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. Euroseas employs its vessels on spot and period charters and through pool arrangements.

The Company has a fleet of 21 vessels, including 15 Feeder containerships and 6 Intermediate containerships with a cargo capacity of 61,144 teu. After the delivery of four intermediate and six feeder containership newbuildings between 2027 and 2029, Euroseas’ fleet will consist of 31 vessels with a total carrying capacity of 93,834 teu.

Euroseas Ltd. Press Release