Performance Shipping Inc. announced that its Board of Directors (the “Board”) has scheduled the Company's 2022 annual general meeting of shareholders (the “2022 AGM”) for February 28, 2022. The Board has also determined that reducing the size of the Board from seven to five members will provide cost savings to the Company. For that reason, Messrs.

Reidar Brekke and Antonios Karavias will be retiring from their director positions effective as of the 2022 AGM.