Imperial Petroleum Enters Into Deal To Acquire 1 South Korean-built, In 2010, Product Tanker With 50,000 DWT Capacity, For Price Of $20.65M; Enter Deal To Acquire 3 Japanese-built Handysize Drybulk Carriers, 2 In 2016 & 1 In 2015, For Price Of $57.26M; Vessels Are Expected To Be Delivered Between The Second Quarter And Third Quarter Of 2026

Imperial Petroleum Inc. (the "Company") has entered into agreements to acquire one South Korean-built, in 2010, product tanker with 50,000 dwt capacity, for a purchase price of $20.65 million and three Japanese-built handysize drybulk carriers, two in 2016 and one in 2015, with a total capacity of approximately 105,000 dwt, for an aggregate purchase price of $57.26 million, from entities affiliated with Brave Maritime Corp Inc. The transactions with Brave Maritime, which is affiliated with members of the Vafias family, was approved by the independent directors of the Company, which obtained independent valuations of the vessels.

The vessels are expected to be delivered between the second quarter and third quarter of 2026. The Company has the option to pay for the vessels one year after the date of each respective purchase agreement, without interest. Following these vessel deliveries, and assuming no further acquisitions or dispositions, the Company's fleet will total 26 vessels of approximately 1.55 million dwt aggregate capacity.