To redeem $200M of 7.5% senior unsecured notes due 2030; Receives commitment for up to $90M credit facility

Notes are expected to be redeemed on July 17th at a make-whole price of 106.4 to par plus accrued but unpaid interest. - Standard Chartered Bank and DekaBank Deutsche Girozentrale committed up to $90M to finance part of the purchase price of four scrubber-fitted MR newbuilding product tankers under construction at Jingjiang Nanyang Shipbuilding Co. in China. - Credit facility has a final maturity of seven years from each vessel delivery date and bears interest at SOFR plus 1.20%; Expected to close in Q3 2026.