Financial Performance - For Q3 2023, Performance Shipping reported a net income of $10.4 million, a slight decrease from $10.7 million in Q3 2022, with net income attributable to common stockholders at $9.9 million compared to $10.4 million in the same period last year[1][2] - Revenue for Q3 2023 was $24.1 million, up from $22.1 million in Q3 2022, driven by an increase in ownership days despite a decrease in time-charter equivalent (TCE) rates, which averaged $31,787 compared to $34,411 in Q3 2022[2][4] - For the nine months ended September 30, 2023, net income reached $44.5 million, a significant increase from $12.5 million in the same period of 2022, with earnings per share of $3.26 compared to $2.35 in 2022[3][21] - Operating income for the nine months ended September 30, 2023, was $49.325 million, compared to $14.560 million for the same period in 2022[34] - Earnings per common share, basic, for Q3 2023 was $0.88, down from $3.83 in Q3 2022[34] Cash and Assets - The company achieved a cash balance of approximately $85.4 million at the end of Q3 2023, representing a 115% increase from the end of 2022[4] - Cash and cash equivalents increased to $85.396 million from $39.726 million as of December 31, 2022[36] - Total assets as of September 30, 2023, were $332.038 million, up from $292.979 million as of December 31, 2022[36] - Total stockholders' equity increased to $209.367 million as of September 30, 2023, from $155.705 million as of December 31, 2022[36] Revenue Backlog and Contracts - A fixed revenue backlog of approximately $39 million is expected starting Q4 2023, as five Aframax tankers are under time charter contracts[7] - The company has entered into a contract for a newbuild LNG-ready LR2 Aframax tanker with a delivery date in 2025 and plans to sell its oldest Aframax tanker for $39.3 million[8] Market Conditions - Daily spot charter rates for Aframax tankers averaged $27,409 in Q3 2023, down 54.2% from the previous quarter and down 47.9% from Q3 2022[16] - Global oil consumption was 101.4 million bpd in Q3 2023, up 0.7% from the previous quarter and up 1.4% from Q3 2022[17] - The company anticipates future market conditions to be influenced by global economic factors and changes in the tanker shipping industry[31] Share Repurchase - The company completed a $2 million share repurchase program in Q3 2023 and has initiated a second $2 million share repurchase program[6][10] Other Transactions - The company sold the vessel P. Kikuma, expected to be delivered in December 2023[25] Cash Flow - The company reported net cash provided by operating activities of $17.883 million for Q3 2023, up from $11.761 million in Q3 2022[37]

Exhibit 99.1 Corporate Contact: Andreas Michalopoulos Chief Executive Officer, Director and Secretary Telephone: + 30-216-600-2400 Email: amichalopoulos@pshipping.com Website: www.pshipping.com For Immediate Release ATHENS, GREECE, June 21, 2023 – Performance Shipping Inc. (NASDAQ: PSHG) ("we" or the "Company"), a global shipping company specializing in the ownership of tanker vessels, today reported net income of $15.7 million and net income attributable to common stockholders of $4.6 million for the first ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of eve ...

Financial Performance - For the nine months ended September 30, 2022, net income from continuing operations was $12.5 million, a significant increase from a net loss of $8.1 million in the same period of 2021, reflecting a recovery in the tanker market [20]. - Voyage and time charter revenues for the nine months ended September 30, 2022, amounted to $47.4 million, up 77% from $26.8 million in the same period of 2021 [19]. - Revenue for the nine months ended September 30, 2022, was $47,406,000, a 76.5% increase from $26,844,000 in 2021 [51]. - Operating income for the same period was $14,560,000, compared to an operating loss of $6,710,000 in 2021 [51]. - Net income from continuing operations was $12,465,000, a significant recovery from a net loss of $8,056,000 in 2021 [51]. - Earnings per common share for continuing operations was $0.16, compared to a loss of $1.60 per share in 2021 [51]. - Total net income attributable to common stockholders was $2,595,000, compared to a loss of $7,656,000 in 2021 [51]. - Comprehensive income for the nine months ended September 30, 2022, was $12,465,000, compared to a loss of $7,656,000 in 2021 [51]. Revenue and Expenses - The increase in revenues was attributed to strong demand for crude oil and changes in trading patterns due to sanctions on Russian crude oil exports [20]. - Voyage expenses decreased to $12.0 million for the nine months ended September 30, 2022, down 21% from $15.1 million in the same period of 2021 [19]. - Vessel operating expenses increased to $9.6 million for the nine months ended September 30, 2022, compared to $8.6 million in the same period of 2021, primarily due to increased ownership days following the acquisition of a new vessel [24]. - Daily operating expenses rose to $6,597 for the nine months ended September 30, 2022, compared to $6,273 in the same period of 2021 [6]. - General and Administrative Expenses for the nine months ended September 30, 2022 were $4.7 million, up 9.3% from $4.3 million in the same period of 2021, primarily due to increased bonuses [26]. - Interest and Finance Costs from continuing operations increased to $2.2 million for the nine months ended September 30, 2022, compared to $1.4 million in the same period of 2021, reflecting a rise in average interest rates from 2.91% to 4.28% [28]. Cash Flow and Debt - Net cash provided by operating activities for the nine-month period ended September 30, 2022 was $10.2 million, a significant increase from a cash outflow of $1.3 million in the same period of 2021 [35]. - Net cash used in investing activities rose to $34.8 million for the nine months ended September 30, 2022, compared to $1.8 million in the same period of 2021, mainly due to increased vessel acquisition costs [36]. - Net cash provided by financing activities for the nine months ended September 30, 2022 was $50.6 million, significantly higher than the $5.9 million used in financing activities in the same period of 2021 [37]. - As of September 30, 2022, cash and cash equivalents were $35.5 million, a substantial increase from $9.6 million as of December 31, 2021 [33]. - The company’s total outstanding debt as of September 30, 2022, was $74.1 million [16]. - The total long-term debt of Performance Shipping Inc. was $68,677,000, an increase from $49,898,000 as of December 31, 2021, representing a 37.5% increase [90]. Vessel Operations and Strategy - Fleet utilization improved to 97.3% for the nine months ended September 30, 2022, compared to 84.7% in the same period of 2021 [6]. - The company shifted its vessel employment strategy from spot to pool arrangements, contributing to decreased voyage expenses [23]. - The company operates its fleet through a wholly-owned subsidiary, Unitized Ocean Transport Limited, and has eliminated intercompany transactions in its consolidated financial statements [56]. - For the nine months ended September 30, 2022, revenue from continuing operations totaled $18,719 from spot charters, $1,887 from time charters, and $26,800 from pool charters, compared to $17,486, $8,574, and $784 respectively in 2021 [72]. Future Outlook and Risks - The company expects to fund operations through cash on hand, cash generated from operations, bank debt, and equity offerings in the next twelve months [32]. - The ongoing conflict between Russia and Ukraine has the potential to disrupt the company's business, but currently, none of its contracts have been affected [62]. - The company has not been adversely affected by COVID-19 as of September 30, 2022, although future impacts remain uncertain [61]. - The company continues to evaluate the potential impact of reference rate reform on its financial statements, with no contracts yet changed to a new reference rate as of September 30, 2022 [66]. Shareholder Activities - The Company declared and paid dividends on Series B preferred shares amounting to $496 for the nine months ended September 30, 2022 [112]. - The total number of Series C Preferred Shares issued to Mango was 1,314,792, with an aggregate liquidation preference of $32,870 [113]. - The Company completed an At The Market (ATM) offering, issuing 526,916 common shares and receiving net proceeds of $1,338 during the nine months ended September 30, 2022 [123]. - The underwritten public offering on June 1, 2022, involved 7,620,000 units at a price of $1.05 per unit, resulting in net proceeds of $7,126 [124]. - A direct offering on July 18, 2022, raised approximately $5,271 from the sale of 17,000,000 common shares and warrants at a combined effective purchase price of $0.35 [126].

FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of August 2022 Commission File Number: 001-35025 PERFORMANCE SHIPPING INC. (Translation of registrant's name into English) 373 Syngrou Avenue 175 64 Palaio Faliro Athens, Greece (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or ...

March 2022 ® PERFORMANCE Shipping Inc. A Pure - Play Tanker Company Disclosure 2 Matters discussed in this presentation may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include, but are not limited to, statements concerning plans, objectives, goals, strategies, future events or perfor ...

Financial Performance - Revenue for the year ended December 31, 2021, was $36.491 million, compared to $46.283 million in 2020, marking a decline of approximately 21%[347]. - Revenue from continuing operations for 2021 was $36.5 million, a decrease of 13.1% compared to $42.0 million in 2020[385]. - Net loss from continuing operations for 2021 amounted to $10.1 million, compared to a net income of $2.3 million in 2020, primarily due to weaker market conditions in the tankers' industry[387]. - The Time Charter Equivalent (TCE) rate for 2021 was $9,963, a significant decrease from $18,745 in 2020, indicating a decline in daily earnings[347]. - Average time charter equivalent (TCE) rates for tanker vessels decreased to $9,963 in 2021 from $20,228 in 2020[389]. - Daily operating expenses decreased to $6,740 in 2021 from $6,835 in 2020, indicating improved cost management[347]. - General and administrative expenses decreased by 28.8% to $5.7 million in 2021, down from $8.0 million in 2020, due to lower compensation costs and reduced brokerage fees[394]. Fleet and Operations - For the year ended December 31, 2021, ownership days increased to 1,825 from 1,689 in 2020, reflecting a growth in fleet size[347]. - Fleet utilization for 2021 was 85.5%, down from 89.7% in 2020, suggesting reduced efficiency in vessel employment[347]. - Vessel operating expenses rose to $12.3 million in 2021, a 33.7% increase from $9.2 million in 2020, attributed to an increase in the average number of tanker vessels owned[391]. - Voyage expenses from continuing operations increased by 33.3% to $19.2 million in 2021, up from $14.4 million in 2020, mainly due to higher bunker costs[390]. - The company employs its vessels under time and voyage charter contracts, with time charter revenues recognized over the term of the charter as the service is provided[374]. - Under pooling arrangements, the company earns a portion of total revenues generated by the pool, with revenue recognized on a quarterly basis when the vessel has participated in the pool[377]. Future Expectations - The company expects revenues to increase in 2022 with further fleet expansion, despite current market challenges[351]. - Vessel operating expenses are anticipated to rise in 2022 if the fleet expands, influenced by market conditions and operational costs[354]. - General and administrative expenses are expected to remain stable in 2022, reflecting fixed costs associated with public company operations[357]. - The company expects to incur additional capital expenditures for vessel upgrades and surveys, impacting cash flow needs[427]. Financial Position - As of December 31, 2021, working capital was $4.2 million, a decrease from $17.6 million in 2020[403]. - Cash and cash equivalents as of December 31, 2021, amounted to $9.6 million, down from $21.4 million in the previous year[404]. - As of December 31, 2021, the company had $50.2 million of long-term debt outstanding under bank loan facilities[414]. - The outstanding balance on the Piraeus Facility was $25.8 million as of December 31, 2021[424]. Market Conditions - Crude oil demand is projected to return to pre-pandemic levels and increase by 3.4% in 2022, reaching 100.1 million barrels per day[430]. - Crude tanker dwt demand is projected to grow by 7.1% in 2022, while the crude tanker fleet is expected to grow by 3.5%[431]. - The average spot earnings for an Aframax tanker in 2021 was $8,242 per day, compared to $22,161 in 2020, indicating a significant decline in earnings[432]. Depreciation and Impairment - The carrying values of the vessels as of December 31, 2021, were as follows: Blue Moon at $27.5 million, Briolette at $28.6 million, P. Fos at $24.8 million, P. Kikuma at $23.4 million, and P. Yanbu at $21.0 million[370]. - The company estimates the useful life of its tanker vessels to be 25 years and 30 years for container vessels, with depreciation calculated on a straight-line basis[380]. - In 2021, the company did not record any impairment charge, while it recorded an impairment charge of $0.3 million in 2020 for one container vessel classified as held for sale[366]. - The company evaluates the carrying amounts of long-lived assets, including vessels, to determine if impairment losses are required based on future undiscounted net operating cash flows[381]. Currency and Interest Rate Risks - The company generates all revenues in U.S. dollars but incurs over 55% of general and administrative expenses in other currencies, primarily the Euro, in 2021[556]. - Approximately 10% of the company's operating expenses were incurred in currencies other than the U.S. dollar in 2021, compared to 8% in 2020[556]. - The U.S. dollar has depreciated against the Euro since around 2002, increasing the dollar cost of expenses incurred in Euros[556]. - The company has not used financial derivatives to mitigate exchange rate fluctuation risks but may consider doing so in the future[557]. - Currently, the company does not view the risk from exchange rate fluctuations as material to its operations[557]. - The potential increase in expenses incurred in other currencies could expand the company's exposure to currency fluctuation losses in the future[556]. Interest Expenses - Interest expense as of December 31, 2021, amounted to $50.2 million, with expectations for an increase in 2022 due to higher average debt levels[358]. - An average increase of 1% in interest rates in 2021 would have resulted in interest expenses of $2.1 million, an increase of about 31% from $1.6 million[553].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...