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Limassol, Cyprus - 12 May 2026 Robin Energy Ltd. (NASDAQ: RBNE), ("Robin", or the "Company"), an international ship-owning company providing energy transportation services globally, today announced its results for the three months ended March 31, 2026. Highlights of the First Quarter Ended March 31, 2026: • Total vessel revenues: $5.4 million, as compared to $1.6 million for the three months ended March 31, 2025, or a 237.5% increase; • Net income/(loss): $0.5 million, as compared to $(0.1) million, for the three months ended March 31, 2025, or a 600.0% increase; • Operating income/(loss): $1.3 million, as compared to $(0.1) million, for the three months ended March 31, 2025, or a 1,400.0% increase; • Earnings/(Loss) per common share, basic: $0.08 per share, as compared to $(0.20) per share for the three months ended March 31, 2025; • Adjusted net income/(loss)(1): $1.4 million, as compared to $(0.1) million for the three months ended March 31, 2025; • EBITDA(1): $1.3 million, as compared to $0.3 million for the three months ended March 31, 2025; • Adjusted EBITDA(1): $2.2 million, as compared to $0.3 million for the three months ended March 31, 2025; • Cash of $23.7 million as of March 31, 2026, as compared to $5.7 million as of December 31, 2025; • During the three months ended March 31, 2026, we received gross proceeds of $14.8 million by issuing 3.8 million common shares through an at-the-market ("ATM") offering agreement entered into on November 13, 2025, with Maxim Group LLC and Rodman & Renshaw LLC, pursuant to which we offered and sold common shares through the sales agents at our discretion. As of May 12, 2026, there were no further transactions; and • On March 24, 2026, the Company commenced a tender offer to purchase up to 1.0 million common shares at $3.00 per share, which expired on April 23, 2026. The offer was oversubscribed, with approximately 1.9 million shares tendered. The Company accepted 1,000,000 shares including 339,775 "odd lots," for purchase at $3.00 per share, for an aggregate cost of approximately $3.0 million excluding fees relating to the offer. (1) Adjusted net income/(loss), EBITDA and Adjusted EBITDA are not recognized measures under United States generally accepted accounting principles ("U.S. GAAP"). Please refer to Appendix B for the definitions and reconciliation of these measures to Net income/(Loss), the most directly comparable financial measure calculated and presented in accordance with U.S. GAAP. Management Commentary: Mr. Petros Panagiotidis, Chief Executive Officer of the Company, commented: "During the first quarter of 2026, we delivered strong financial results across all key metrics. Revenues grew substantially compared to the same period in 2025, driving a marked improvement in profitability - with both net income and operating income turning positive - while our cash position strengthened materially, further solidifying our balance sheet. Following quarter end, we repurchased common shares through a tender offer and completed the sale of the M/T Wonder Mimosa, a 20-year-old Handysize tanker, for $12.8 million, generating an expected net gain of approximately $6.7 million, now positioning the company for its next phase of growth." Earnings Commentary: First quarter ended March 31, 2026 and 2025 Results Total vessel revenues increased to $5.4 million in the three months ended March 31, 2026, from $1.6 million in the same period in 2025. This increase of $3.8 million was mainly associated with the increase in the Available Days of our fleet to 270 days in the three months ended March 31, 2026 from 90 days in the same period in 2025 due to the acquisitions of LPG Dream Syrax and LPG Dream Terrax in September 2025. During the three months ended March 31, 2026, our fleet earned on average a Daily TCE Rate of $17,870, compared to an average Daily TCE Rate of $15,153 earned during the same period in 2025. Daily TCE Rate is not a recognized measure under U.S. GAAP. Please refer to Appendix B for the definition and reconciliation of this measure to Total vessel revenues, the most directly comparable financial measure calculated and presented in accordance with U.S. GAAP. Voyage expenses for our fleet increased to $0.5 million in the three months ended March 31, 2026, from $0.2 million in the same period in 2025. This increase of $0.3 million was mainly associated with the increase in Available days in the three months ended March 31, 2026, as compared to the same period in 2025. The increase in vessel operating expenses by $0.9 million to $1.5 million in the three months ended March 31, 2026, from $0.6 million in the same period in 2025, mainly reflects the increase in the Ownership Days of our fleet to 270 days in the three months ended December 31, 2026 from 90 days in the same period in 2025. The increase in management fees to $0.3 million in the three months ended March 31, 2026, from $0.1 million in the same period in 2025, mainly reflects (i) the increase in the Ownership Days of our fleet in the three months ended March 31, 2026, compared to the same period in 2025 and (ii) the increased management fees due to an inflation-based adjustment that was effected on July 1, 2025, following our entry into the master management agreement with Castor Ships with effect from April 14, 2025. Depreciation expenses amounted to $0.6 million for our fleet in the three months ended March 31, 2026 from $0.1 million in the same period in 2025, as a result of the increase in Ownership Days of our fleet in the three months ended March 31, 2026, compared to the same period in 2025. Dry-dock amortization charges amounted to $0.3 million in the three months ended March 31, 2026 from $0.2 million in the same period of 2025. This increase in dry-dock amortization charges primarily resulted from the increase in dry-dock amortization days to 254 dry-dock amortization days in the three months ended March 31, 2026 from 90 days in the three months ended March 31, 2025. General and administrative expenses in the three months ended March 31, 2026, amounted to $0.8 million, compared to $0.3 million in the same period of 2025. The amount of $0.8 million is mainly associated with (i) incurred legal and other corporate fees primarily related to the growth of our company, including expenses related to Proposed AI OKTO Spin-Off (as defined below) and (ii) the flat management fee for the three months ended March 31, 2026 amounting to $0.2 million. For the three months ended March 31, 2025, General and administrative expenses reflect the expense allocations made to the Company by Toro Corp. ("Toro"). For further details of the allocation, please refer to the Consolidated Financial Statements and related notes included elsewhere in the annual report on Form 20-F filed with the SEC on April 10, 2026. Interest and finance costs, net, amounted to $(0.05) million in the three months ended March 31, 2026, whereas, in the same period of 2025, interest and finance costs, net amounted to $0.004 million. This variation is mainly due to the substantial increase in interest income for the three months ended March 31, 2026 on our available cash. Full report About Robin Energy Ltd. Robin Energy is an international ship-owning company providing energy transportation services globally. Following the above-mentioned transaction, the Company's fleet comprises two LPG Carriers that carry petrochemical gases and refined petroleum products worldwide. For more information, please visit the Company's website at www.robinenergy.com. Information on our website does not constitute a part of this press release. Robin Energy Ltd. press release 
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