Pelagic Credit Provides US$ 30 Million Mezzanine Financing for two Suezmax Tankers

Limassol, 9 November 2026

Pelagic Credit Plc (the "Company") is pleased to announce that it has entered into an agreement to provide a US$ 30 million mezzanine loan facility in connection with the financing of two suezmax tankers (the "Vessels"). The transaction marks the Company's first investment in the crude oil tanker sector.

The financing is structured as an 18-month mezzanine loan facility. The transaction is expected to generate approximately US$ 3.0 million in distributable earnings from fees and interest over the 18-month term, supporting the Company's ability to distribute stable quarterly dividends in line with its dividend policy.

The investment further diversifies the Company's portfolio and expands its exposure to the tanker sector through contracted cash flows supported by established counterparties. It is expected to deliver attractive risk-adjusted returns consistent with the Company's investment criteria.

C. Tobias Backer, Chief Executive Officer of Pelagic Credit Plc, commented: "This transaction represents another attractive third-party investment and further demonstrates our disciplined, returns-led approach to deploying capital. It expands our portfolio into the suezmax tanker segment and combines attractive financing economics with contracted employment with a leading global energy and commodities trading company. The investment further diversifies our portfolio and supports our objective of generating stable, growing distributions in line with our quarterly dividend policy."

The Vessels are suezmax tankers designed to carry approximately one million barrels of crude oil when fully laden, making them crucial vessels in the global oil trade. They will be employed under a time charter with a leading independent global energy and commodities trading group headquartered in Geneva, Switzerland, for the duration of the financing. The charter provides contracted cash flows to support debt service. The financing benefits from a customary security and corporate support package.

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

For further information, please contact:

C. Tobias Backer Chief Executive Officer ir@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.