Trading Update & Quarterly Results

$45 million fourth compulsory partial redemption confirmed for November 2026

Final vessel sale agreed for gross proceeds of c.$15.1 million

Taylor Maritime Limited, the specialist dry bulk shipping company, today announces its unaudited financial and operating results for the quarter ended 30 September 2026, its fourth compulsory partial redemption and an update on the managed realisation process.

Financial Highlights for the Quarter & Balance sheet

• The NAV as at 30 September was $73.8 million or 81.19 cents per share (versus $122.2 million or 85.20 cents per share as at 30 June 2026)
• The Company's outstanding debt was $21.2 million as at 30 September 2026 (versus $21.5 million as at 30 June 2026) and relates to the financial liabilities under a sale-leaseback agreement with purchase option
• Cash and cash equivalents were $28.2 million and other net liabilities stood at $3.5 million at the end of the period (versus $44.7 million and other net assets $15.2 million as at the end of June respectively)

Commenting on the trading update Edward Buttery, Chief Executive Officer, said:

"This quarter saw considerable progress with the Company's managed realisation now close to conclusion. Having sold three further vessels and announced in early October a further $45 million capital return to shareholders in November 2026, our focus over the coming months is to complete the final vessel disposal, manage costs, and return maximum value to shareholders."

Fourth Compulsory Redemption

• On 6 October 2026 the Board confirmed its intention to undertake the Company's fourth capital distribution of $45.0 million by way of a compulsory partial redemption of shares. Further details of the fourth capital distribution are set out in the separate announcement released today by the Company
• Following the change in dividend policy announced on 24 April 2026, no additional dividend is declared

Managed Realisation Progress

Since the Board announced its intention to return surplus capital to shareholders in January 2026 and the managed realisation strategy announced in March 2026, the Company has completed seven vessel sales, revised its dividend policy in-line with the realisation strategy, and announced capital returns of $263.4 million to shareholders.

• Three previously announced sale transactions completed since 1 July; the Company sold one Handysize vessel and exited a 50% share in a joint venture owning another two Handysize vessels, generating combined gross proceeds of approximately $48.6 million[6]
• Overall, the Company has executed 55 disposals since the beginning of 2023 at an average 3.5% discount to Fair Market Value. These sales will have generated total gross proceeds of $917.7 million.
• The November 2026 compulsory partial redemption will bring the total amount of capital returned to shareholders since January 2026 to $263.4 million
• Following the fourth compulsory partial redemption, total distributions to shareholders since the Company's IPO in May 2021, accounting for dividends and capital returns, will amount to $1.23 per IPO share

Remaining fleet and pathway to delisting

• The Company has agreed terms for the sale of the final owned vessel in the fleet due to complete in December 2026 for gross proceeds of $15.1 million
• The sale-leaseback vessel with purchase option remains on charter and will fall away on expiry in April 2027. The Board is assessing the option value and the charter terms and will seek an efficient exit, balancing upside preservation against potential costs and the Company achieving its wind-down objectives
• Having significantly rationalised the operating structure and cost base, the Company will have successfully exited all commercial shipping operations by the end of the calendar year
• A further compulsory redemption is expected to be announced in December 2026, pending completion of the final vessel sale, following which substantially all capital will have been returned to shareholders, and the Board intends to present plans for a cancellation of the listing of the Company's ordinary shares

About Geared Vessels

[1] Classified as Assets held for sale in balance sheet; Fleet Fair Market Value at 30 September 2026 was $74.3 million

[2] Financial liabilities (excluding accrued interest) relating to a sale-leaseback transaction

[3] Net of voyage expenses

[4] Excluding gain on disposal from vessel sales

[5] Details announced separately on 23 October 2026. Shares to be redeemed on 26 October 2026.

[6] $15 million was received prior to 30 September and the balance received in October 2026.

[7] One vessel is held for sale and vessel one is subject to a purchase option by the Company.