Pelagic Credit Plc - Investment in Pre- and Post-Delivery Financing for Two Chemical Tankers

Limassol 21 July 2026

Pelagic Credit Plc (the "Company") is pleased to announce that it has entered
into definitive agreements for a pre- and post-delivery financing investment in
two 10,000 dwt chemical tankers (the "Vessels"), with an aggregate transaction
value of US$24.7 million during the predelivery phase. The transaction marks the
Company's first investment in the chemical tanker sector.

The financing is structured across two phases. During construction, a US$24.7
million predelivery loan will fund yard progress payments through to delivery,
expected to generate approximately US$4.2 million in distributable earnings from
fees and interest. The loan is secured by a refund guarantee from an
internationally recognized financial institution. Upon delivery of each Vessel,
the Company will enter into a sale-and-bareboat-charter-back transaction
financing for the Vessels at terms in line with its investment criteria, subject
to customary conditions.

The Vessels have been fixed on a long-term time charter to a leading energy
infrastructure and fuel distribution company, and are owned by a globally
recognized shipowner and operator with a diverse fleet.

The investment further diversifies the Company's portfolio and expands its
exposure to long-term contracted cash flows supported by high-quality
counterparties. It is expected to deliver attractive risk-adjusted returns
consistent with the Company's investment criteria, supporting its ability to
generate stable distributable cash flows in line with its quarterly dividend
policy. The transaction is a new third-party origination that did not form part
of the Company's stated pipeline in the IPO Memorandum.

Management believes that this new transaction is the best use of funds at this
time. The Company remains committed to executing the pipeline with affiliated
entities outlined in the IPO Memorandum and will continue to actively advance
these opportunities alongside additional third-party transactions.

C. Tobias Backer, Chief Executive Officer of Pelagic Credit Plc, commented:

"This transaction is a natural extension of our disciplined, returns-led
approach to deploying capital. It marks our entry into the chemical tanker
segment, pairs attractive predelivery financing economics with an
sale-and-bareboat-charter-back investment on delivery, and is underpinned by a
long-term charter to a highly rated counterparty and a globally respected owner.
It supports our objective of building a portfolio of long-term, contracted cash
flows and delivering stable, growing distributions in line with our quarterly
dividend policy."

The transaction is expected to close during July 2026, subject to customary
closing conditions.

For further information, please contact:

C. Tobias Backer
Chief Executive Officer
tobias@pelagic-credit.com
+357 97 771 170 / +44 7799 815 020 / +1 917 207-8680


This information is considered to constitute inside information pursuant to the
EU Market Abuse Regulation and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act.
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pursuant to section 5-12 of the Norwegian Securities Trading Act.\