Western Bulk more than doubled its Net TC for the second half of 2025 to USD
20.1 million, from USD 9.3 million for the same period in 2024. Net profit after
tax for the second half of 2025 was USD 7.4 million. For the full year of 2025,
Net TC was 27.7 million and the result after tax was USD 5.4 million.

In the second half of the year, dry bulk markets recovered from the weak
conditions earlier in 2025, with rates strengthening through the summer and into
early autumn. The recovery was driven by strong Atlantic grain flows, improved
coal demand in China, and resilient steel exports from Asia. The Group was well
positioned to capture the upturn, with exposure to rising rates in the Handy,
Supramax and Panamax segments.

CEO Torbjørn Gjervik commented: "We are pleased with the results and the
progress we are making at Western Bulk. Overall, the market last year was not
easy to trade, but we stayed disciplined and delivered solid results. In
December, we also took a strategic step by re-entering ship ownership with
selected partners, strengthening our platform and positioning the Group well for
the next phase of the cycle. Looking ahead to 2026, we will continue to pursue
opportunities and partnerships that further strengthen our platform, both on the
people and asset side."

Western Bulk hereby declares a dividend per share of NOK 1,21 which equivalents
to USD 4.3 million in total. The ex-dividend date is 16th of February, record
date is 17th of February and payment date is 25th of February.

In relation to the release of the results, a digital investor presentation will
be held by the company's CEO (Torbjørn Gjervik) and CFO (Kenneth Thu) on Monday
23rd of February at 13:00 CET. To attend the presentation, please register via
the link published on the Investor Relations section of our website.  


Contacts

For more information, please contact: 
Torbjørn Gjervik, Chief Executive Officer
Tel: +47 940 28211
E-mail: torbjorn.gjervik@westernbulk.com

Kenneth Thu, Chief Financial Officer 
Tel: +47 988 74302
E-mail: kenneth.thu@westernbulk.com


About Western Bulk Chartering:
Western Bulk is a global dry bulk operator and derivatives trader registered on
Euronext Growth in Oslo. Propelled by an entrepreneurial spirit, we combine
in-depth maritime knowledge with trading expertise. Through combining advanced
risk management, extensive use of market data, analytics to optimize fleet
deployment and vessel-cargo matching, we offer tailor-made solutions serving our
customersŽ needs. 
See westernbulk.com for more information.


Disclaimers
This press release contains forward-looking statements. Forward-looking
statements are statements that are not historical facts and may be identified by
words such as "believe," "expect," "anticipate," "intends," "estimate," "will,"
"may," "continue," "should" and similar expressions. The forward-looking
statements in this release are based upon various assumptions, many of which are
based, in turn, upon further assumptions. Although Western Bulk Chartering
believes that these assumptions were reasonable when made, these assumptions are
inherently subject to significant known and unknown risks, uncertainties,
contingencies and other important factors which are difficult or impossible to
predict and are beyond its control. Such risks, uncertainties, contingencies and
other important factors could cause actual events to differ materially from the
expectations expressed or implied in this release by such forward-looking
statements.

The information, opinions and forward-looking statements contained in this
release speak only as at its date and are subject to change without notice
Western Bulk Chartering disclaims any obligation to update and revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.