USEA

Strategic Fleet Repositioning into Capesize Vessels Declares Quarterly Cash Dividend of $0.10 Per Share _______________1 Adjusted earnings / (loss) per share, Adjusted Net Income / (loss), EBITDA and Adjusted EBITDA are non-GAAP measures. Please see the reconciliation below of Adjusted earnings / (loss) per share, Adjusted Net Income / (loss), EBITDA and Adjusted EBITDA to net income, the most directly comparable U.S. GAAP measure.2 Time Charter Equivalent (“TCE”) rate is a non-GAAP measure. Please see the reconciliation below of TCE rate to net revenues from vessels, the most directly comparable U.S. GAAP measure. Other Highlights and Developments: Net Revenues of $17.9 million for the first half and fleet TCE up 35% year-over-year to $17,202 per day — reflecting the earnings uplift from the repositioned fleet Approximately $29.5 million of liquidity generated from asset sales and investment monetization during 2026, funding Capesize fleet growth, without shareholder dilution Continuing Capital Redeployment with Capesize Expansion and Fleet Rebalancing Declared 15th Consecutive Quarterly Cash Dividend of $0.10 Per Share GLYFADA, Greece, July 30, 2026 (GLOBE NEWSWIRE) -- United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the second quarter and six months ended June 30, 2026. The Company also declared a quarterly dividend of $0.10 per common share for the second quarter of 2026. For the quarter ended June 30, 2026, the Company generated Net Revenues of $10.0 million, broadly in line with the same period of 2025, despite fewer ownership days as a result of the Company’s ongoing fleet repositioning strategy. Net Income and Adjusted Net Income for the quarter were $1.2 million and $1.5 million, respectively, compared to $1.0 million and $0.2 million, respectively, in the second quarter of 2025. Adjusted EBITDA remained stable at $5.2 million, compared to $5.1 million for the same period of 2025. The TCE rate of the fleet was $18,654 per day, compared to $15,421 for the same period of 2025. For the six-month period ended June 30, 2026, the Company generated Net Revenues of $17.9 million, compared to $20.2 million in the same period of 2025. Net Income and Adjusted Net Income for the period were $1.0 million and $1.7 million, respectively, compared to Net Loss of $3.5 million and Adjusted Net Loss of $4.2 million in the respective period of 2025. Adjusted EBITDA for the first half of 2026 was $8.4 million, compared to $6.0 million for the same period of 2025. The TCE rate of the fleet for the first six months of 2026 was $17,202 per day, compared to $12,744 in the same period of 2025. The average daily OPEX was $6,442 compared to $6,332 for the same period of 2025. Cash and cash equivalents and restricted cash as of June 30, 2026, stood at $12.1 million. Shareholders’ equity at the end of the second quarter was $53.3 million, while bank debt, finance lease liabilities and other financial liabilities, net of deferred finance costs stood at $94.2 million as of June 30, 2026. The book value of the Company’s fleet as of June 30, 2026 stood at $143.5 million, reflecting the Company's strategic expansion into the Capesize segment. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “In the second quarter of 2026, United benefited from the strong dry bulk market, delivering Net Income of $1.2 million, Adjusted EPS of $0.15 and Adjusted EBITDA of $5.2 million.” “Based on our strong performance, United will distribute a quarterly dividend of $0.10 per share, corresponding to a running yield of 16%4 on our last closing share price. Our fifteenth consecutive quarterly cash dividend reflects a sustainable distribution supported by contracted cash flows and highlights our continued focus on delivering strong capital returns to shareholders. Supported by favorable dry bulk market conditions and our enhanced fleet earnings profile, we remain optimistic about our performance over the coming quarters and our ability to maintain strong capital returns.” “Since our last update, we have agreed to sell the 2011-built Panamax M/V Exelixsea, which is expected to generate an expected gain on sale, with delivery to its new owners expected to take place towards the end of the third quarter, while we have also taken delivery of the Capesize M/V Squireship. Since the start of 2026, United has sold two vessels in the Kamsarmax/Panamax class while acquiring two Capesize vessels. This strategic repositioning has materially strengthened United's earnings profile and free cash flow generation potential by increasing our exposure to the structurally stronger Capesize market. Concurrently, the completion of our profitable exit from the offshore newbuilding project in June 2026 marked the culmination of our strategic capital redeployment cycle, enabling a full refocusing of capital on our core shipping operations.” “As regards our commercial performance, the index-linked charter rates on three of our six vessels have been converted into fixed-rate charters at profitable rates through the end of 2026, providing a disciplined balance between earnings visibility and exposure to favorable market conditions upside participation. Based on the current FFA curve, our third quarter daily TCE guidance of about $20,400 demonstrates a clear sequential improvement over the $18,654 achieved in the second quarter, reinforcing our expectation of sequential earnings growth.” “Dry bulk market conditions remain strong, driven by strong growth in all major dry bulk commodities. Second quarter China Iron Ore imports were at a record high while import growth in the first half of the year exceeded 6% over the same period in 2025. Second quarter Soybean imports into China were more than double the first quarter volume, while China’s Coal imports for the first half of 2026 also grew modestly. Looking ahead, the completion of additional iron ore projects in Brazil, the continued ramp-up of Simandou exports and higher Coal demand driven by energy security factors should provide a positive demand backdrop during the seasonally stronger second half of the year. Vessel supply growth remains low, as a result of limited ordering of newbuilds, slower sailing speeds and high dry-docking off-hires across the global fleet. Taken together, these market fundamentals continue to support a constructive outlook for freight rates throughout the remainder of the year.” “With a repositioned fleet, improved earnings and a consistent distribution record, United is well positioned to benefit in this market environment.” _______________3 The amounts include the 15th consecutive quarterly cash dividend declared but not yet paid.4 Based on the closing share price on July 27, 2026. Current Company Fleet: (1)   The latest redelivery dates do not include any additional optional periods.(2)   The vessel is technically and commercially operated by the Company on the basis of an 18-month bareboat charter-in contract with the owners of the vessel, including a purchase obligation at the end of the bareboat charter.(3)   “T/C” refers to a time charter agreement. Under these index-linked T/Cs, the Company has the option to convert the index-linked rate to fixed for a minimum period of two months, based on the prevailing FFA Rates for the selected period, and has done so for certain vessels as part of its freight hedging strategy, as described below under “Third Quarter 2026 TCE Rate Guidance”.(4)   The vessel is expected to be delivered to her new owners by October 1, 2026. Fleet Data: (1)   Ownership days are the total number of calendar days in a period during which the vessels in a fleet have been owned or chartered. Ownership days are an indicator of the size of the Company’s fleet over a period and affect both the amount of revenues and the amount of expenses that the Company recorded during a period.(2)   Operating days are the number of available days in a period less the aggregate number of days that the vessels are off-hire due to unforeseen circumstances. Available days are the number of ownership days less the aggregate number of days that our vessels are off-hire due to major repairs, dry-dockings, lay-up or special or intermediate surveys. Operating days include the days that our vessels are on ballast voyages without having finalized agreements for their next employment. The Company’s calculation of operating days may not be comparable to that reported by other companies.(3)   Fleet utilization is the percentage of time that the vessels are generating revenue and is determined by dividing operating days by ownership days for the relevant period.(4)   TCE rate is defined as the Company’s net revenue less voyage expenses during a period divided by the number of the Company’s operating days during the period. Voyage expenses include port charges, bunker (fuel oil and diesel oil) expenses, canal charges and other commissions. The Company includes the TCE rate, a non-GAAP measure, as it believes it provides additional meaningful information in conjunction with net revenues from vessels, the most directly comparable U.S. GAAP measure, and because it assists the Company’s management in making decisions regarding the deployment and use of our vessels and because the Company believes that it provides useful information to investors regarding our financial performance. The Company’s calculation of TCE rate may not be comparable to that reported by other companies. The following table reconciles the Company’s net revenues from vessels to the TCE rate. (In thousands of U.S. Dollars, except operating days and TCE rate) (5)   Vessel operating expenses include crew costs, provisions, deck and engine stores, lubricants, insurance, maintenance and repairs. Daily Vessel Operating Expenses are calculated by dividing vessel operating expenses, excluding pre-delivery costs of acquired vessels, if applicable, by ownership days for the relevant time periods. The Company’s calculation of daily vessel operating expenses may not be comparable to that reported by other companies. The following table reconciles the Company’s vessel operating expenses to daily vessel operating expenses. (In thousands of U.S. Dollars, except ownership days and Daily Vessel Operating Expenses) Net Income / (Loss) to EBITDA and Adjusted EBITDA Reconciliation: (In thousands of U.S. Dollars) Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) represents the sum of net income, net interest and finance costs, depreciation and amortization and, if any, income taxes during a period. EBITDA is not a recognized measurement under U.S. GAAP. Adjusted EBITDA represents EBITDA adjusted to exclude stock-based compensation, loss on extinguishment of debt, gain on consolidation and loss on equity method investment, which the Company believes are not indicative of the ongoing performance of its core operations. EBITDA and Adjusted EBITDA are presented as we believe that these measures are useful to investors as a widely used means of evaluating operating profitability. EBITDA and Adjusted EBITDA as presented here may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures should not be considered in isolation from, as a substitute for, or superior to financial measures prepared in accordance with U.S. GAAP. Net Income / (Loss) and Adjusted Net Income / (Loss) Reconciliation and calculation of Adjusted Earnings / (Loss) Per Share (In thousands of U.S. Dollars) To derive Adjusted Net Income / (Loss) and Adjusted Earnings / (Loss) Per Share, both non-GAAP measures, from Net income / (loss), we exclude certain non-cash items, as provided in the table above. We believe that Adjusted Net Income / (Loss) and Earnings / (Loss) Per Share assist our management and investors by increasing the comparability of our performance from period to period since each such measure eliminates the effects of such non-cash items as stock-based compensation, loss on extinguishment of debt, gain on consolidation, loss on equity method investment and other items which may vary from year to year, for reasons unrelated to overall operating performance. In addition, we believe that the presentation of the respective measures provides investors with supplemental data relating to our results of operations, and therefore, with a more complete understanding of factors affecting our business than with GAAP measures alone. Our method of computing Adjusted Net Income / (Loss) and Adjusted Earnings / (Loss) Per Share may not necessarily be comparable to other similarly titled captions of other companies due to differences in methods of calculation. Third Quarter 2026 TCE Rate Guidance: As of the date hereof, approximately 75% of the Company fleet’s expected operating days in the third quarter of 2026 have been fixed at an estimated TCE rate of approximately $21,388 per day. Assuming that for the remaining operating days of our index-linked T/Cs, the BPI-82 rate will be equal to an average of $19,197 per day (based on the FFA curve of July 28, 2026), our estimated TCE for the third quarter of 2026 is approximately $20,4185 per day. Our TCE rate guidance for the third quarter of 2026 includes the already performed conversions of index-linked charters to fixed for the period. The following table provides the breakdown of index-linked charters and fixed-rate charters in the third quarter of 2026: Second Quarter and Recent Developments: Dividend Distribution for Q1 2026 and Declaration of Q2 2026 Dividend On July 10, 2026, the Company paid the previously announced quarterly dividend of $0.10 per common share, for the first quarter of 2026, to all shareholders of record as of June 29, 2026. The Company has declared a cash dividend of $0.10 per common share for the second quarter of 2026 payable on or about October 9, 2026, to all shareholders of record as of September 25, 2026. Vessel transactions and commercial updates Sale of M/V Exelixsea In June 2026, the Company entered into an agreement with an unaffiliated third party for the sale of the 76,361 dwt Panamax vessel M/V Exelixsea, built in 2011. The vessel is expected to be delivered to her new owners in September 2026. The aggregate gross sale price of approximately $17.5 million is expected to generate net cash proceeds of approximately $8.5 million following the repayment of the associated debt. In addition, the transaction is expected to generate a gain of approximately $1.8 million, which will be recognized in the quarter of the vessel's delivery. Delivery of M/V Squireship In June 2026, the Company took delivery of the 170,018 dwt M/V Squireship, built in 2010. The vessel is currently employed on an index-linked time charter with a redelivery date between March and May 2027. The earnings under the time charter have been converted to an average fixed gross daily rate of approximately $28,246 until the end of 2026. The acquisition was completed together with the assumption of the vessel's existing sale and leaseback financing, including all related rights and obligations, with the Company's subsidiary replacing the prior charterer and the Company assuming the role of guarantor. M/V Synthesea – Time charter extension In June 2026, the charterer of the M/V Synthesea agreed to extend the time charter agreement in direct continuation from the previous agreement. The extension period will commence in September 2026, for a duration of about 16 to about 19 months. The daily hire is based on BPI-82, and all other main terms of the time charter remain materially unchanged. M/V Nisea – Time charter extension In July 2026, the charterer of the M/V Nisea agreed to extend the existing time charter agreement, with the extension commencing from the mean redelivery date under the current charter. The extension period will commence in September 2026, for a duration of minimum 10 to maximum 12 months. The daily hire is based on BPI-82, and all other main terms of the time charter remain materially unchanged. _______________5 This guidance is based on certain assumptions, and the Company cannot provide assurance that these TCE rate estimates or projected utilization rates will be realized. TCE estimates include certain floating (index) to fixed rate conversions concluded in previous periods. For vessels on index-linked T/Cs, the TCE rate realized will vary with the underlying index, and for the purposes of this guidance, the BPI-82 rate assumed for the remaining operating days of the quarter for an index-linked T/C is equal to an average of $19,197 per day (based on the FFA curve as of July 28, 2026). Spot estimates are provided using the load-to-discharge method of accounting. The rates quoted are for days currently contracted. Increased ballast days at the end of the quarter will reduce the additional revenues that can be booked based on the accounting cut-offs and therefore the resulting TCE rate will be reduced accordingly. Investing Updates Offshore Energy Construction Vessel Investment Monetization In June 2026, the Company completed a profitable exit from its investment in an Offshore Energy Construction Vessel project. The transaction generated approximately $15.1 million of cash proceeds and resulted in an accounting gain of approximately $0.5 million. Conference Call:The Company’s management will host a conference call to discuss the financial results today, Thursday, July 30, 2026 at 12:00 p.m. Eastern Time. Audio Webcast:There will be a live, and then archived, webcast of the conference call on the Company’s website. To listen to the archived audio file, visit our website, in the “Investors” section. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast, following this link. Conference Call Details:Participants have the option to register for the call using the following link. You can use any number from the list or add your phone number and let the system call you right away. * Derived from the audited consolidated financial statements as of the period as of that date United Maritime CorporationUnaudited Condensed Consolidated Cash Flow Data(In thousands of U.S. Dollars) About United Maritime Corporation United Maritime Corporation is an international shipping company specializing in worldwide seaborne transportation services. The Company operates a fleet of six dry bulk vessels, comprising two Capesize, one Kamsarmax and three Panamax vessels, with an aggregate cargo carrying capacity of 666,260 dwt. Upon completion of the aforementioned sale of the M/V Exelixsea, the Company’s operating fleet will consist of five vessels (two Capesize, one Kamsarmax and two Panamax vessels), with an aggregate cargo carrying capacity of 589,899 dwt. The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “USEA”. Please visit the Company’s website at: www.unitedmaritime.gr. Forward-Looking Statements This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to declaration of dividends, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks arising from trade disputes between the U.S. and China, including the re-imposition of reciprocal port fees; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between the U.S. and Israel and Iran, the U.S. and Venezuela, China and Taiwan, and Russia and Ukraine; risks associated with the length and severity of pandemics; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. For further information please contact: United Investor RelationsTel: +30 213 0181 522E-mail: [email protected] Capital Link, Inc.Paul Lampoutis230 Park Avenue Suite 1540New York, NY 10169Tel: +1 212 661 7566E-mail: [email protected] A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c7207a28-8495-41ab-bee4-e70c3fa32a45

This article first appeared on GuruFocus. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Adjusted EBITDA increased by 40% year-over-year to $8.4 million in the first half of 2026. Fleet time charter equivalent (TCE) rose 35% to $17,200 per day in the first half of 2026. Declared 15th consecutive quarterly dividend, with an annualized yield of approximately 16%. Strategic fleet repositioning towards capesize vessels is driving stronger earnings and cash flow. Generated $15.1 million in liquidity from monetizing an offshore investment, enhancing financial flexibility. Net revenues declined to $10 million in Q2 2026 from $12.4 million in Q2 2025 due to fewer ownership days. Fleet repositioning led to temporary reduction in ownership days, impacting top-line revenue. Total debt stood at $95.4 million as of June 30, 2026, indicating significant leverage. Dependence on favorable dry bulk market conditions, which are subject to volatility and uncertainty. Sale of a Panamax vessel (XLXC) reduces fleet diversity and may limit exposure to Panamax market gains. Warning! GuruFocus has detected 9 Warning Signs with USEA. High Yield Dividend Stocks in Gurus' Portfolio This Powerful Chart Made Peter Lynch 29% A Year For 13 Years How to calculate the intrinsic value of a stock? Is USEA fairly valued? Test your thesis with our free DCF calculator. Q: Are you considering fixing some rates into 2027 already, or have you already done that?A: (Stamatis Santanas, Chairman and CEO) Yes, we will be looking into fixing some coverage for 2027, especially on days where you see big jumps on the forward curve as we see today. The benefit of the Cape sizes is already starting to show on its full scale, so the second half of the year will be much greater, reflecting in the financials. Q: With the sale of the Panamax ship creating a $1.8 million gain for the third quarter, is it a variable dividend policy that you're looking at cash flow from operations to evaluate the dividend?A: (Stamatis Santanas, Chairman and CEO) We want to have a consistent profitability, which we now expect to have very strong consistency on, leading to a very consistent strong dividend. The forward yield of the company is about 16%, which we believe is generous. We will continue having the dividend as a top priority and will continue to increase the cash generation and profit making of the company, which will lead to higher dividends. Q: With the sale of the Panamax, did you imply earlier that you're focusing on potential Cape size acquisitions as opposed to looking at other size ships?A: (Stamatis Santanas, Chairman and CEO) For the time being, yes. We find some secondhand Cape size opportunities to be quite compelling given where the rates are. We will be seeking additional second-hand quality vintage Cape sizes for United to drive up the earnings capacity of the company very substantially. We try to keep accretion on a per-share basis as our top priority, and of course, the dividends. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Earnings Release: Thursday, July 30, 2026, Before Market Open in New York Conference Call and Webcast: Thursday, July 30, 2026, at 12:00 p.m. Eastern Time GLYFADA, Greece, July 27, 2026 (GLOBE NEWSWIRE) -- United Maritime Corporation (the “Company” or “United”) (NASDAQ: USEA), announced today that it will release its financial results for the second quarter and six months ended June 30, 2026, prior to the open of the market in New York on Thursday, July 30, 2026. United’s senior management will conduct a conference call and simultaneous webcast to review these results on Thursday, July 30, 2026, at 12:00 p.m. Eastern Time. Audio Webcast:There will be a live, and then archived, webcast of the conference call available through the Company’s website. To listen to the archived audio file, visit the Investors section of our website. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast, following this link. Conference Call Details:Participants have the option to register for the call using the following link. You can use any number from the list or add your phone number and let the system call you right away. About United Maritime CorporationUnited Maritime Corporation is an international shipping company specializing in worldwide seaborne transportation services. The Company operates a fleet of six dry bulk vessels, comprising two Capesize, one Kamsarmax and three Panamax vessels, with an aggregate cargo carrying capacity of 666,260 dwt. The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “USEA”. Please visit the Company’s website at: www.unitedmaritime.gr. Forward-Looking StatementsThis press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to the share repurchases, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks arising from trade disputes between the U.S. and China, including the re-imposition of reciprocal port fees; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between the U.S. and Israel and Iran, the U.S. and Venezuela, China and Taiwan, and Russia and Ukraine; risks associated with the length and severity of pandemics; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. For further information please contact: United Investor RelationsTel: +30 213 0181 522E-mail: [email protected] Capital Link, Inc. Paul Lampoutis230 Park Avenue Suite 1540 New York, NY 10169Tel: (212) 661-7566E-mail: [email protected]

Other Highlights and Developments: $62.2 million Expansion in Capesizes Enhances Earnings Visibility and Free Cash Flow $21.0 Million Released through Portfolio Optimization and Capital Recycling Declared 14th consecutive quarterly cash dividend of $0.10 per share, reaching $1.94 per share in cumulative distributions since November 2022 ____________________1 Adjusted earnings / (loss) per share, Adjusted net income / (loss), EBITDA and Adjusted EBITDA are non-GAAP measures. Please see the reconciliation below of Adjusted earnings / (loss) per share, Adjusted Net income / (loss), EBITDA and Adjusted EBITDA to net loss, the most directly comparable U.S. GAAP measure. GLYFADA, Greece, May 21, 2026 (GLOBE NEWSWIRE) -- United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the first quarter ended March 31, 2026. The Company also declared a quarterly dividend of $0.10 per common share for the first quarter of 2026. For the quarter ended March 31, 2026, the Company generated Net Revenues of $7.9 million, broadly in line with the same period of 2025. Net Loss and Adjusted Net Income for the quarter were $0.1 million and $0.2 million, respectively, improving significantly from Net Loss and Adjusted Net Loss of $4.5 million and $4.4 million, respectively in the first quarter of 2025. Adjusted EBITDA increased substantially to $3.2 million from $0.9 million for the same period of 2025. The Time Charter Equivalent (“TCE”) rate of the fleet for the first quarter of 2026 was $15,591 per day, compared to $9,953 in the same period of 2025. Cash and cash-equivalents and restricted cash as of March 31, 2026, stood at $10.1 million. Shareholders’ equity at the end of the first quarter was $55.5 million, while long-term debt, finance lease liabilities and other financial liabilities, net of deferred finance costs stood at $89.7 million as of March 31, 2026. The book value of our fleet as of March 31, 2026, stood at $130.2 million, including one chartered-in Capesize vessel and one Kamsarmax vessel held for sale. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “United delivered a significantly improved financial performance, driven by stronger dry bulk market conditions and continued strategic execution. “Our Board declared another cash dividend of $0.10 per share, representing a running yield of 17% on our last closing share price2. This is our 14th consecutive quarterly distribution, and since November 2022, we have distributed approximately $1.94 per share. The Company is now on a strong path to profitability, and we remain confident in our ability to sustain meaningful cash distributions, supported by favorable market conditions and the progressive earnings contribution from our ongoing fleet repositioning. “The decisive repositioning of our fleet, acquiring two Capesize vessels while divesting the Kamsarmax M/V Cretansea, represents a deliberate reallocation of capital toward larger, higher-earning assets at an attractive point in the Capesize cycle. The imminent delivery of M/V Squireship and the near completion of our profitable exit from the Offshore newbuilding project mark the final steps of this process. The financial benefits of this repositioning have already begun to materialize and we expect the full earnings and cash flow contribution to build progressively through the year. “On guidance, we have secured approximately 92% of Q2 available days at an average of $17,807/day. Based on current FFA levels, we expect Q2 TCE of approximately $17,957/day. Looking beyond Q2, approximately half of our operating days are already fixed, providing a balanced combination of earnings visibility and continued market upside exposure. Needless to say, the addition of the second Capesize will further boost TCE and earnings for the second half of the year. “Moving on to discuss market conditions, dry bulk has delivered a very strong start of the year, despite this period typically representing the seasonally weaker part of the year. Year to date, the Capesize-180 and Kamsarmax Baltic indexes have averaged daily rates of $27,103 and $16,459 respectively year-to-date, compared to $13,840 and $10,230 in the same period of 2025. While geopolitical uncertainty stemming from the conflict in Iran has complicated the broader outlook, dry bulk market performance over the past month leaves no doubt that we are currently operating in a very constructive environment. Iron ore, bauxite and grain exports have been particularly robust, while seaborne coal trade has recovered meaningfully on the back of China's import demand. Looking ahead, we expect the coal restocking season to be stronger than usual, underpinned by natural gas substitution trends and energy security priorities. Fleet supply growth remains constrained, especially in the Capesize segment, and accelerating fleet aging combined with tightening environmental regulations should continue to support effective supply discipline. United is well positioned to convert this favorable environment into tangible cash generation and shareholder value.” ____________________2 The closing share price on May 20, 2026. Current Company Fleet: Fleet Data: (In thousands of U.S. Dollars, except operating days and TCE rate) (In thousands of U.S. Dollars, except ownership days and Daily Vessel Operating Expenses) Net Loss to EBITDA and Adjusted EBITDA Reconciliation: (In thousands of U.S. Dollars) Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) represents the sum of net income, net interest and finance costs, depreciation and amortization and, if any, income taxes during a period. EBITDA is not a recognized measurement under U.S. GAAP. Adjusted EBITDA represents EBITDA adjusted to exclude stock-based compensation and loss on equity method investment, which the Company believes are not indicative of the ongoing performance of its core operations. EBITDA and Adjusted EBITDA are presented as we believe that these measures are useful to investors as a widely used means of evaluating operating profitability. EBITDA and Adjusted EBITDA as presented here may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures should not be considered in isolation from, as a substitute for, or superior to financial measures prepared in accordance with U.S. GAAP. Net Loss and Adjusted Net Income / (Loss) Reconciliation and calculation of Adjusted Earnings / (Loss) Per Share (In thousands of U.S. Dollars) To derive Adjusted Net Income / (Loss) and Adjusted Earnings / (Loss) Per Share, both non-GAAP measures, from Net loss, we exclude certain non-cash items, as provided in the table above. We believe that Adjusted Net Income / (Loss) and Earnings / (Loss) Per Share assist our management and investors by increasing the comparability of our performance from period to period since each such measure eliminates the effects of such non-cash items as stock-based compensation, loss on equity method investment and other items which may vary from year to year, for reasons unrelated to overall operating performance. In addition, we believe that the presentation of the respective measures provides investors with supplemental data relating to our results of operations, and therefore, with a more complete understanding of factors affecting our business than with GAAP measures alone. Our method of computing Adjusted Net Income / (Loss) and Adjusted Earnings / (Loss) Per Share may not necessarily be comparable to other similarly titled captions of other companies due to differences in methods of calculation. Second Quarter 2026 TCE Rate Guidance: As of the date hereof, approximately 92% of the Company fleet’s expected operating days in the second quarter of 2026 have been fixed at an estimated TCE rate of approximately $17,807. Assuming that for the remaining operating days of our index-linked T/Cs, the respective vessels’ TCE rate will be equal to Forward Freight Agreement (“FFA”) rate of $21,103 per day for Kamsarmax (based on the FFA curve of May 18, 2026), our estimated TCE for the second quarter of 2026 is approximately 17,9573. Our TCE rate guidance for the second quarter of 2026 includes the already performed conversions of index-linked charters to fixed for the period. The following table provides the breakdown of index-linked charters and fixed-rate charters in the second quarter of 2026: ____________________3 This guidance is based on certain assumptions and the Company cannot provide assurance that these TCE rate estimates or projected utilization rates will be realized. TCE estimates include certain floating (index) to fixed rate conversions concluded in previous periods. For vessels on index-linked T/Cs, the TCE rate realized will vary with the underlying index, and for the purposes of this guidance, the TCE rate assumed for the remaining operating days of the quarter for an index-linked T/C is equal to FFA rate of $21,103 per day for Kamsarmax (based on the FFA curve of May 18, 2026). Spot estimates are provided using the load-to-discharge method of accounting. The rates quoted are for days currently contracted. Increased ballast days at the end of the quarter will reduce the additional revenues that can be booked based on the accounting cut-offs and therefore the resulting TCE rate will be reduced accordingly. First Quarter and Recent Developments: Dividend Distribution for Q4 2025 and Declaration of Q1 2026 Dividend On April 10, 2026, the Company paid the previously announced quarterly dividend of $0.10 per common share, for the fourth quarter of 2025, to all shareholders of record as of March 27, 2026. The Company also declared a cash dividend of $0.10 per common share for the first quarter of 2026 payable on or about July 10, 2026, to all shareholders of record as of June 29, 2026. Vessel transactions and commercial updates Sale of M/V Cretansea In May 2026, the Company delivered to her new owners the 81,508 dwt M/V Cretansea, built in 2009. The aggregate net sale price was approximately $14.7 million, generating net cash proceeds of approximately $5.9 million after repayment of the associated debt. Acquisition of M/V Squireship In March 2026, the Company agreed main terms with Seanergy Maritime Holdings Corp. (“Seanergy”), for the acquisition of the 2010-built Capesize bulk carrier M/V Squireship, constructed in South Korea, for a purchase price of $29.5 million. A special committee of disinterested members of our board of directors negotiated the terms and approved the agreement. The vessel is expected to be delivered to the Company in June 2026. The acquisition will be financed through a combination of debt financing and proceeds generated from recent asset monetization initiatives. Financing Updates Huarong Sale and Leaseback agreement In May 2026, in connection with the M/V Squireship acquisition, the Company has received a credit committee approval from China Huarong Shipping Financial Leasing Company Co., Ltd. to enter into a novation agreement, pursuant to which the Company’s subsidiary shall assume the existing sale and leaseback arrangement, including all related rights and obligations. The obligations of the prior charterer and guarantor (Seanergy) shall be released and novated to the Company’s subsidiary and the Company as new guarantor, respectively. The transaction will become effective upon the satisfaction of customary closing conditions. The outstanding charterhire principal is approximately $16.1 million and amortizes in 15 quarterly installments of $0.5 million along with a purchase obligation of $8.5 million at the expiry of the bareboat charter. The financing bears an interest rate of 3-month Term SOFR plus 2.15% per annum. The sale and leaseback agreement does not include any financial covenants or security value maintenance provisions. The Company will have continuous options to purchase the vessel at any time at predetermined prices as set forth in the agreement. * Derived from the audited consolidated financial statements as of the period as of that date About United Maritime Corporation United Maritime Corporation is an international shipping company specializing in worldwide seaborne transportation services. The Company operates a fleet of five dry bulk vessels, comprising one Capesize, one Kamsarmax and three Panamax vessels, with an aggregate cargo carrying capacity of 496,242 dwt. Upon completion of the aforementioned acquisition of the M/V Squireship, the Company’s operating fleet will consist of six vessels (two Capesize, one Kamsarmax and three Panamax), with an aggregate cargo carrying capacity of 666,260 dwt. The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “USEA”. Please visit the Company’s website at: www.unitedmaritime.gr. Forward-Looking Statements This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to the share repurchases, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks arising from trade disputes between the U.S. and China, including the re-imposition of reciprocal port fees; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between the U.S. and Israel and Iran, the U.S. and Venezuela, China and Taiwan, and Russia and Ukraine; risks associated with the length and severity of pandemics; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. For further information please contact: United Investor RelationsTel: +30 213 0181 522E-mail: [email protected] Capital Link, Inc.Paul Lampoutis230 Park Avenue Suite 1540New York, NY 10169Tel: (212) 661-7566E-mail: [email protected] A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/781968fb-2c4e-423c-a23b-f7f0bf2da5fa

Earnings Release: Thursday, May 21, 2026, Before Market Open in New York GLYFADA, Greece, May 19, 2026 (GLOBE NEWSWIRE) -- United Maritime Corporation (the “Company” or “United”) (NASDAQ: USEA), announced today that it will release its financial results for the first quarter ended March 31, 2026, prior to the open of the market in New York on Thursday, May 21, 2026. About United Maritime Corporation United Maritime Corporation is an international shipping company specializing in worldwide seaborne transportation services. The Company operates a fleet of six dry bulk vessels, comprising one Capesize, two Kamsarmax and three Panamax vessels, with an aggregate cargo carrying capacity of 577,750 dwt. Upon completion of the announced sale of the M/V Cretansea and the acquisition of the M/V Squireship, the Company’s operating fleet will consist of six vessels (two Capesize, one Kamsarmax and three Panamax), with an aggregate cargo carrying capacity of 666,260 dwt. The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “USEA”. Please visit the Company’s website at: www.unitedmaritime.gr. Forward-Looking StatementsThis press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to the share repurchases, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks arising from trade disputes between the U.S. and China, including the re-imposition of reciprocal port fees; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between the U.S. and Venezuela, China and Taiwan, Israel and Hamas or Iran and Russia and Ukraine; risks associated with the length and severity of pandemics; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. For further information please contact: United Investor RelationsTel: +30 213 0181 522E-mail: [email protected] Capital Link, Inc.Paul Lampoutis230 Park Avenue Suite 1540New York, NY 10169Tel: (212) 661-7566E-mail: [email protected]

Management characterized 2025 as a transitional year, focusing on divesting lower-returning assets to fund higher-earning Capesize exposure. The divestment of the Kamsarmax Cretan C and an offshore energy vessel is expected to release approximately $21,000,000 in net liquidity for reinvestment. Performance in Q4 was impacted by a softer Panamax market and a fleet reduction, though operational efficiency remained high with 97.6% utilization. Strategic acquisition of the Capesize vessels Dukeship and Squareship is designed to provide immediate cash flow visibility through fixed-rate conversions. The company maintains a balanced commercial strategy, utilizing index-linked exposure to capture market upside while securing fixed rates for earnings stability. Management attributes the strong start to 2026 to limited global fleet growth and expanding commodity demand, particularly in iron ore and bauxite. Geopolitical tensions in the Middle East are creating vessel supply inefficiencies, with approximately 3% of the global Panamax fleet currently affected in the Arabian Gulf. Revenue certainty for 2026 is supported by approximately 92% of available days already fixed at an anticipated daily TCE of $15,230. The ramp-up of the Simandou iron ore project in Guinea starting in 2026 is expected to drive long-term ton-mile demand for the Capesize sector. Management expects liquidity to normalize at approximately $2,000,000 per vessel following the completion of pending sale and acquisition transactions. Future dividend distributions are expected to follow a more formalized formula once the company's new 'cash flow engine' profile is fully crystallized. Supply-side constraints are projected to persist as shipyards prioritize higher-margin vessels and environmental regulations discourage speculative dry bulk ordering. A net loss of $3,800,000 in Q4 reflects a challenging market environment and a specific impairment loss recognized on one vessel. The company successfully executed an $18,300,000 sale and leaseback transaction with Huarong Leasing to finance the purchase option for the NEC. Management highlighted a 'no dilution' policy, noting that no equity capital has been raised since the initial transaction in 2022. The fleet's loan-to-value (LTV) ratio stands at approximately 65%, which management views as a prudent balance for fleet optimization. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management intends to establish a specific formula for dividends to provide investors with clearer expectations. The timing of this formula depends on demonstrating the sustained cash flow generation of the newly acquired Capesize assets. The vessel's index-linked charter was converted to a fixed rate above $28,000 per day to secure cash flow stability. Financing involves 60% to 65% leverage, which is expected to yield a daily free cash flow of $10,000 to $12,000 for the vessel. Management anticipates that disruptions to LNG trade in the Persian Gulf will force a shift toward coal for global electrification needs. Major industrial nations like China, Korea, and Japan may increase coal inventories as a hedge against energy market volatility, supporting dry bulk rates. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

This article first appeared on GuruFocus. Net Revenue (Q4 2025): $6.6 million Adjusted EBITDA (Q4 2025): $1.5 million Net Loss (Q4 2025): $3.8 million Net Revenue (Full Year 2025): $37.8 million Adjusted EBITDA (Full Year 2025): $12.9 million Net Loss (Full Year 2025): $6.2 million Fleet Utilization (Q4 2025): 97.6% Daily Operating Expenses: Approximately $6,300 per day Cash Position (Year-End 2025): $14.6 million Total Assets: $138 million Stockholders' Equity: $56 million Outstanding Debt: Approximately $65 million Loan-to-Value (LTV) Ratio: Approximately 65% Dividend Declared: Cumulative cash dividends of approximately $1.84 per share Time Charter Equivalent (Q4 2025): $14,129 per day Expected Time Charter Equivalent (Q1 2026): Approximately $15,230 per day Warning! GuruFocus has detected 7 Warning Signs with USEA. Is USEA fairly valued? Test your thesis with our free DCF calculator. Release Date: March 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. United Maritime Corp (NASDAQ:USEA) declared its 13th consecutive quarterly dividend, reflecting a strong commitment to capital returns. The company executed strategic initiatives to enhance earnings, strengthen the balance sheet, and increase free cash flow generation. Recent fleet employment contracts have secured stronger cash generation, supporting competitive distributions and financial flexibility. The sale of the Kamsarmax Cretansea and an offshore energy construction vessel is expected to release approximately $21 million in net liquidity. The acquisition of Capesize vessels Dukeship and Squireship, both earning high fixed rates, enhances earnings and cash flow visibility through 2026. Net revenue in the fourth quarter declined compared to the previous year, primarily due to fleet reduction and softer Panamax market conditions. The company recorded a net loss of $3.8 million in the fourth quarter, reflecting challenging market conditions and an impairment loss on one vessel. Liquidity fluctuations are expected in the near term due to recent dry docking and advance payments for vessel acquisitions. Outstanding debt stands at approximately $65 million, with a loan-to-value ratio of 65%, indicating significant leverage. The geopolitical crisis in the Middle East adds uncertainty to the global outlook, potentially impacting market conditions. Q: Can you remind us of your dividend policy and how you're thinking about it going forward? A: We intend to establish a formula similar to what we have with Seanergy, making it clear for investors. We have been generous with dividends, paying about $1.80 per share since inception. As we transform into a strong cash flow engine, we will set a clear formula for investors. Q: Regarding the acquisition of the Squireship, can you repeat the fixed rate and discuss the strategy related to that? A: The fixed rate for the Squireship is slightly above $28,000. We coordinated with Seanergy to convert the index-linked charter to fixed. The strategy is to finance the ship with a leverage of around 60% to 65%, resulting in a free cash flow of about $10,000 to $12,000 per day. Q: Can you explain the implications of coal trade flows for the dry bulk market, especially in relation to disruptions in the Strait of Hormuz? A: Disruptions in LNG trade from the Persian Gulf may lead to increased coal trades as countries seek alternatives for electricity production. We expect coal to become an important commodity for countries like China, Korea, and Japan, which may increase coal inventories due to the crisis in the area. Q: Did you mention a certain portion of the global Capesize fleet in the Gulf area, or were you referring to the total dry bulk fleet? A: Approximately 2% of the fleet is in the general area, not just inside the Persian Gulf. This includes Capesizes, Panamaxes, and Kamsarmaxes. While not substantial, it absorbs a lot of tonnage, affecting market dynamics. Q: How are you managing the company's financial position and liquidity amid recent transactions? A: We expect temporary fluctuations in liquidity due to recent dry docking and advance payments. However, post-transactions, liquidity should normalize at about $2 million per vessel. Our financial position is strengthened, with a solid capital base and prudent financing strategy. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Image source: The Motley Fool. Thursday, March 12, 2026 at 10 a.m. ET Chief Executive Officer — Stamatios Tsantanis Chief Financial Officer — Stavros Gyftakis Need a quote from a Motley Fool analyst? Email [email protected] Stamatios Tsantanis: Hello, everybody. Welcome to United Maritime Corporation’s conference call to discuss our financial results for the fourth quarter and full year period ended 12/31/2025. During the fourth quarter, United Maritime Corporation generated net revenues of $6,600,000 and EBITDA of $1,500,000. More importantly, since our last update, we have executed a series of strategic initiatives aimed at enhancing the company's earnings profile, strengthening our balance sheet, and increasing our free cash flow generation capacity. In addition, we are pleased to declare our 13th consecutive quarterly dividend, a milestone that reflects our commitment for capital returns. Since initiating our dividend program in November 2022, United Maritime Corporation has declared cumulative cash dividends of approximately $1.84 per share. With stronger cash generation now secured through recently fleet employment, we are confident in our ability to sustain a competitive level of distributions while preserving the financial flexibility to pursue accretive growth opportunities. A central pillar of our 2025, 2026 strategy has been disciplined capital reallocation, divesting lower returning assets and redeploying proceeds into higher earning Capesize exposure. In early 2026, we agreed to sell the 2009-built Kamsarmax Cretan c for a net price of $14,700,000, generating approximately $6,000,000 in net cash proceeds after debt repayment. We also agreed to exit our investment in the offshore energy construction vessel, realizing proceeds of approximately €30,000,000, a profit of approximately €1,700,000, and a return on invested capital of approximately 15% in a very limited period of time. These two agreed sales combined are expected to release approximately $21,000,000 in net liquidity. Moving into the investment from now. In February, took delivery of the 2010 Capesize Dukeship under an eighteen-month verbal charter for a daily rate of $9,450. While the vessel will be earning an average fixed gross daily rate of approximately $29,300 through year end of 2026, providing immediate contracted cash flow visibility. In addition, we recently agreed to acquire the 2010-built scrubber-fitted Capesize Squareship from Synergy Maritime Holdings for approximately $29,500,000 with delivery in May 2026, financed through a combination of debt and internally generated liquidity, including the aforementioned sales. Similar to the dukeship, the daily earnings of the Squareship have also been converted to a rate of $28,250 until the 2026. The implied investment in the two Capesizes is approximately $62,000,000. Operationally, our fourth quarter TCE of $14,129 was in line with the same period of 2024, a solid result that reflects United Maritime Corporation’s transition to a pure Panamax fleet during the 2025. Fleet utilization remained high at 97.6% and OpEx daily of approximately $6,404 was well controlled. For the 2026, we anticipate a daily time charter equivalent of approximately $15,230 per day, with approximately 92% of available days already fixed, providing a meaningful degree of revenue certainty. Looking further ahead, the Panamax market is exhibiting solid fundamentals, while the addition of the Capesize's dukeship and squareship, both earning high fixed rates, meaningfully enhances earnings and cash flow visibility through the end of 2026. Our fourth quarter daily time charter equivalent reflects a resilient Panamax market despite the seasonal softness typically observed during this period. Market conditions have strengthened since the 2025, and the outlook for the coming quarters remains encouraging. Our balanced commercial strategy between index-linked exposure and fixed rates has allowed us to benefit from improving market conditions while maintaining reasonable earnings visibility for the coming quarters. Let me now turn to the drybulk market to provide some additional context around the industry environment. We have seen a very strong start in 2026 in both Capesizes and Panamax markets. Limited fleet growth combined with steadily expanding commodity demand has created a supportive market environment. Year to date, the Baltic Kamsarmax Index has averaged about $14,800, up from 9,600 during the same period of 2025. The Baltic Capesize Index has averaged about 23,000 in the first quarter to date, compared to about 13,000 for the same period last year. That is almost double. In the Panamax market, we have seen strong growth in grain and minor bulk ton miles, while the decline in coal trade observed in early 2025 has moderated. The geopolitical crisis unfolding currently in the Middle East adds uncertainty in the global outlook. In the near term, we expect that the reduced cargo demand relating to Arabian Gulf may be offset by increasing coal trade flows if energy markets remain disrupted. Which they are. In addition, approximately 3% of the global Panamax fleet is currently in the Arabian Gulf, contributing to vessel supply inefficiencies and providing additional support to freight rates. Turning to the Capesize market, we continue to see strong ton mile growth driven by the iron ore and bauxite trade. The ramp up of Xinlandu iron ore project in Guinea beginning in 2026, together with increased output projections from Vale in Brazil, is expected to support long-term ton mile demand for Capesize vessels. Bauxite trade is also expanding, driven by strong global aluminum demand. Export volumes from Gimi have already grown by more than 10% during the first months of 2026. The supply side, the dry bulk order book remains low by historical standards, well below the fleet replacement needs. Continued uncertainty about future environmental regulations, and the priority placed by shipyards on higher profit margin vessels, like containers, gas carriers, and tankers, have prevented the large-scale speculative dry bulk ship ordering. As a result, the dry bulk plate continues to age. Vessels older than fifteen years represent more than 30% of the global fleet. In the Capesize sector in particular, by 2030, more than a quarter of the fleet will be older than twenty years old. That note, I would like to turn the call over to Stavros, an overview of our financial performance before returning with some concluding remarks. Tavro, please go ahead. Stavros Gyftakis: Thank you, Samati, and good morning, everyone. I will now review the key financial highlights for the fourth quarter and the full year ended 12/31/2025. Net revenue in the fourth quarter amounted to $6,600,000, reflecting a decline compared to the same period last year, primarily due to the reduction in our fleet and the softer Panamax market conditions. Adjusted EBITDA for the quarter amounted to $1,500,000, while we recorded a net loss of $3,800,000, reflecting both the challenging market environment and the impairment loss recognized on one of our vessels. For the full year, net revenue totaled $37,800,000, while adjusted EBITDA amounted to $12,900,000 and net loss reached $6,200,000. Overall, we view 2025 as a transitional year for the company, reflecting our efforts to optimize our fleet and position United Maritime Corporation for improved earnings generation. On the expense side, we successfully reduced daily operating expenses to approximately $6,300 per day, while also keeping our general and administrative expenses contained. Turning to our balance sheet, our cash position at year end stood at $14,600,000. In the near term, we expect some temporary fluctuations in our liquidity position, primarily related to the recently completed dry docking of the Nixie and advanced payment made for the acquisition of the duke ship. However, following the completion of the transactions discussed earlier by Stamatis, we expect our liquidity levels to normalize at approximately $2,000,000 per vessel, which we consider an appropriate level to support the company's operations and financial flexibility. Total assets amounted to $138,000,000, while stockholders' equity stood at $56,000,000, reflecting a solid capital base. Outstanding debt totaled approximately $65,000,000, corresponding to approximately $13,200,000 per vessel, which compares favorably with the average estimated market value of our fleet of approximately $20,000,000. LTV stands at approximately 65% reflecting our efforts to balance fleet optimization with a prudent financing strategy. In parallel, we entered into an $18,300,000 sale and lease transaction with Huarong Leasing to finance the $16,600,000 purchase option for the NEC. The financing bears an interest rate of three-month Term SOFR plus 1.95% per annum and amortizes over 60 monthly installments of $100,000. With respect to the dukeship, took delivery of the vessel in February under an eighteen-month verbal charter with a down payment of five and a half million. The daily purpose rate is $9,450 and United Maritime Corporation has a purchase obligation of $22,100,000 at the end of the bareboat period. At the same time, share index-linked charter has been converted to fixed for the balance of the year at a gross daily rate of approximately $29,300, enhancing our earnings visibility and cash flow stability. Regarding the upcoming Capesize additional fleet, the Squared ship, the agreed purchase price of $21,500,000 will be financed through a combination of debt and cash at hand, with the respective leverage ratio expected to be around 60%. In summary, the steps we have taken over the past several months have strengthened United Maritime Corporation’s financial position while enhancing our earnings visibility and cash flow generation. Combined with a disciplined capital allocation approach and improved market conditions, we believe the company is well positioned to generate meaningful free cash flow and continue delivering attractive return to shareholders. With that, I would now turn the call back to Samathis for his concluding remarks. Stamatios Tsantanis: Samathis, Thank you, Sabra. Are very proud of our progress so far, having built a quality fleet with strong prospects without resorting to any dilution of the shareholders that have supported us in our first capital raising transaction back in 2022. We have not made any other capital raising equity since then. Four years now. Since 2023, we have paid a total cash dividend exceeding $1.84 per share, which in fact is a very large portion of our current share price. Additionally, we have engaged in extensive share repurchases, which continue to be part of our capital returns options. United Maritime Corporation transformation in 2026 with profitable investments of approximately $60,000,000 62 following our divestments of about $21,000,000 are expected to produce meaningful returns on capital deriving from two Capesize vessels operating under highly profitable time charters as well as direct exposure to healthy Panamax rates. So meaningful returns on capital are further expected. On that note, I would like to turn the call back to the operator and we are open for any questions you may have. Operator, please take the call. Thank you. Operator: Thank you. As a reminder, to ask a question, you will need to press 11 on your telephone and wait for your name to be announced. We will now open for questions. We will now take the first question, from the line of Tate H. Sullivan from Maxim Group. Please go ahead. Tate H. Sullivan: Great. Thank you. Good day. Thank you for the timely update and given all the volatility we have seen on the oil prices and the rates, first, to start with the dividend, zero one zero I mean, that is about 5% of your current share price. Are you looking at how are you looking at it going forward? Are you going to pay out portion of the gains on ship transactions? Or can you remind us of your dividend policy how you are thinking of about it? Stamatios Tsantanis: Good morning, Tate. Thank you for the question. We are intending to set something like a formula like we have with Synergy. So it is more clear with investors what they expect to expect. It is always going to be generous. As you know, we have always been very genuine generous for shareholders. We have paid, about a dollar and 80¢ per share dividends since our inception a few years ago. We will continue doing that. As you can see, we are transforming the company now into a strong cash flow engine. To put it this way. And once we have that crystallized and demonstrated in our quarterly earnings, will set a formula that is gonna be more, clear for the investors to, to understand. Tate H. Sullivan: Okay. Thank you. And then second on the acquisition of the Squire ship, 29.5 Delivery May 26. Can you can you repeat the fixed rate that you have? Was it was it 28,500? And the strategy related to that, I mean, I think it is prudent with what we have seen, but, yeah, you talk about when you lock that in? Stavros Gyftakis: Yeah. Thank you. Thank you, Tate. We have been coordinating with Synergy who is the commercial management of the ship to convert basically the index link time charter to fixed following the decision to acquire the ship. The levels are close to 28,000, a bit higher than that. And as discussed during the call, the strategy finance ship is to get leverage of around 60 to 65%, which would imply that the free cash flow of the vessel would be around 10 to 12,000 per day. Tate H. Sullivan: K. K. I will factor that in. And then on the market, and start you had some good comments. What was you linked coal trade flows to disruptions in the Strait Of Hormuz Can you walk through if I heard that correctly, can you walk through the implications for coal trade flows for the dry bulk market? Stamatios Tsantanis: Please? Well, yes. Of course. We expect that further discontinuation of LNG trade out of Qatar and the Persian Gulf. Will eventually lead to increase of coal trades because the world needs electrification. And you know, LNG and coal are two competing, let us say, raw materials in order to produce electricity. So we expect coal to become a very I am not going to say dominant, but an important commodity gem to produce electricity in certain areas of the world that are reliant on the Persian Gulf natural gas. It is not an immediate thing, but the more that things escalate in the area, the more we expect the countries with prudent how do you say, policies and huge infrastructure and industrial production. Like China, like Korea, like Japan to start thinking about, you know, increasing their code inventories in order to deal with increased electrification, needs. So that is kind of a natural result, which is gonna happen. And we expect to see that starting the more that the crisis prevails in that area. Tate H. Sullivan: K. And a follow-up. Ed, did you mention a certain portion of the Capesize fleet in the Gulf area? Or were you referring to the total dry bulk fleet? Can you circle back to that comment? Stamatios Tsantanis: It is it is not it is not a really substantial number. I think that overall, in the general area, we have about 2% of the fleet, not inside the present Gulf, but in the overall area. It is not a supercritical point, but it really absorbs a lot of tonnage not only the Capesize, but also Panamaxes, Kamsarmaxes, and all that. So there is a portion of the fleet absorbed there. Or kind of stuck there, to put it in a in a better word. So, you know, we will see the effects of that as well soon in the market. Tate H. Sullivan: Okay. That is all for me, and thank you very much for the update. Stamatios Tsantanis: Thank you, Tate. Nice to hear from you. Tate H. Sullivan: Bye. Operator: Thank you. This concludes today's conference call. Thank you for participating. You may now disconnect. Speakers, please standby. Before you buy stock in United Maritime, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and United Maritime wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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Delivers 13th Consecutive Quarterly Dividend; Expands Capesize Exposure and Reallocates Capital to Strengthen Earnings and Free Cash Flow __________________ 1 Adjusted earnings / (loss) per share, Adjusted Net Income / (loss), EBITDA and Adjusted EBITDA are non-GAAP measures. Please see the reconciliation below of Adjusted earnings / (loss) per share, Adjusted Net Income / (loss), EBITDA and Adjusted EBITDA to net income, the most directly comparable U.S. GAAP measure. Other Highlights and Developments: Strategic Fleet Expansion with Investment of Approximately $62.0 Million to Acquire Two Capesizes Contributing to Enhanced Earnings and Free Cash Flow Re-Initiates Capesize exposure through the delivery of the 2010-built Capesize M/V Dukeship under an 18-month bareboat charter, significantly enhancing earnings visibility. Expands further with the agreement to acquire the 2010-built scrubber-fitted Capesize M/V Squireship, from Seanergy Maritime Holdings Corp. (“Seanergy”), with expected delivery in April-June 2026. Portfolio Optimization and Capital Reallocation Releasing Approximately $21.0 Million Agreed to sell the 2009-built Kamsarmax M/V Cretansea for $14.7 million, generating approximately $6.0 million in net cash proceeds after debt repayment. Monetized investment in Offshore Energy Construction Vessel project for approximately €13.0 million, realizing a profit of approximately €1.7 million and a return on invested capital of approximately 15%. Consistent Shareholder Returns: Declared 13th consecutive quarterly cash dividend of $0.10 per share. Since initiating our capital return program in November 2022, United has declared total cash dividends of approximately $1.84 per share in cumulative distributions. Repurchased 67,665 common shares from Q4 2025 to date at an average price of $1.67 per share. GLYFADA, Greece, March 12, 2026 (GLOBE NEWSWIRE) -- United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the fourth quarter and twelve months ended December 31, 2025. The Company also declared a quarterly dividend of $0.10 per common share for the fourth quarter of 2025, with total cash dividend for 2025 of $0.23 per common share. For the quarter ended December 31, 2025, the Company generated Net Revenues of $6.6 million compared to $10.8 million in the fourth quarter of 2024. Net Loss and Adjusted Net Loss for the quarter were $3.8 million and $1.5 million, respectively, compared to Net Loss of $1.8 million and Adjusted Net Loss of $0.7 million in the fourth quarter of 2024. Adjusted EBITDA for the quarter was $1.5 million, compared to $5.1 million for the same period of 2024. The Time Charter Equivalent (“TCE”) rate of the fleet for the fourth quarter of 2025 was $14,129 per day, compared to $14,248 in the same period of 2024. For the full year 2025, the Company generated Net Revenues of $37.8 million, compared to $45.4 million in the same period of 2024. Net Loss and Adjusted Net Loss for the period were $6.2 million and $4.1 million, respectively, compared to Net Loss of $3.4 million and Adjusted Net Loss of $1.2 million in the respective period of 2024. Adjusted EBITDA for the twelve months was $12.9 million, compared to $20.3 million for the same period of 2024. The TCE rate of the fleet for the twelve-month period of 2025 was $13,565 per day compared to $15,719 in the same period of 2024. The average daily OPEX was $6,338 compared to $6,616 of the respective period of 2024. Cash and cash-equivalents and restricted cash as of December 31, 2025, stood at $14.6 million. Shareholders’ equity at the end of the fourth quarter was $56.5 million, while long-term debt, finance lease liabilities and other financial liabilities, net of deferred finance costs stood at $64.8 million as of December 31, 2025. The book value of our fleet as of December 31, 2025, stood at approximately $100.0 million, including one chartered-in Kamsarmax vessel. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “During the fourth quarter and into early 2026, United Maritime executed a series of strategic actions that meaningfully strengthened our earnings power, improved balance sheet flexibility, and positioned the Company for enhanced shareholder value creation. “We are pleased to declare our 13th consecutive quarterly dividend, a milestone that reflects our commitment for capital returns. Since initiating our dividend program in November 2022, United has declared cumulative cash dividends of approximately $1.84 per share. With stronger cash generation now secured through recently contracted fleet employment, we are confident in our ability in the near-medium term to sustain a competitive level of distributions while preserving the financial flexibility to pursue accretive growth opportunities. “A central pillar of our 2025–2026 strategy has been disciplined capital reallocation: divesting lower-returning assets and redeploying proceeds into higher-earning Capesize exposure. In early 2026, we agreed to sell the 2009-built Kamsarmax M/V Cretansea for $14.7 million, generating approximately $6.0 million in net cash proceeds after debt repayment. We also agreed to exit our investment in the offshore energy construction vessel project, realizing proceeds of approximately €13.0 million, a profit of approximately €1.7 million, and a return on invested capital of approximately 15%. These two agreed sales combined are expected to release approximately $21.0 million in net liquidity. “In February, we took delivery of the 2010-built Capesize M/V Dukeship under an 18-month bareboat charter at a daily hire of $9,450. The vessel is employed at a fixed gross daily rate of approximately $29,300 through year-end 2026, providing immediate contracted cash flow visibility. In addition, we recently agreed to acquire the 2010-built scrubber-fitted Capesize M/V Squireship from Seanergy Maritime Holdings Corp. for approximately $29.5 million, with delivery in April-June 2026, financed through a combination of debt and internally generated liquidity, including proceeds from the aforementioned sales. The implied investment in the two Capesizes is approximately $62.0 million. At current market levels, these two Capesize vessels are expected to generate material incremental free cash flow and meaningfully enhance the Company’s earnings profile on a per-share basis. “Operationally, our fourth quarter TCE of $14,129 per day was in line with the same period of 2024, reflecting United’s transition to a pure Panamax fleet during the third quarter of 2025. Fleet utilization remained strong at 97.6%, while daily OPEX of $6,404 was well controlled. For the first quarter of 2026, we anticipate a daily TCE of approximately $15,230, with about 92.0% of available days already fixed, providing meaningful revenue visibility in the near term. Looking further ahead, the Panamax market continues to exhibit solid fundamentals. At the same time, the addition of the Capesize M/V Dukeship since February under a fixed-rate time charter, together with the expected delivery of the Capesize M/V Squireship in the second half of the year, is expected to further enhance our earnings power and cash flow visibility through the balance of 2026. “On the financing front, we successfully completed a sale and leaseback agreement to fund the purchase option associated with the 2016 built Kamsarmax, M/V Nisea. The vessel has been sold and chartered back over a five-year period at terms that we believe reflect United Maritime’s strengthening credit profile and increasing institutional recognition, further evidencing our growing access to competitive capital. “Market conditions in early 2026 have been constructive, with healthy cargo flows offsetting typical seasonal headwinds. Robust grain exports and resilient coal and iron ore volumes have supported rate levels across vessel classes. Supply-side dynamics remain favorable: the dry bulk orderbook is at historically low levels, and constrained global shipyard capacity continues to limit new vessel deliveries. While geopolitical uncertainties, including ongoing tensions in the Middle East, introduce some macro uncertainty, dry bulk trade flows have demonstrated resilience, and the sector’s underlying fundamentals remain supportive. “With a strengthened fleet, improved earnings visibility, a proven track record of consistent capital returns, and growing financial flexibility, United Maritime is well positioned to capitalize on market opportunities and continue building per-share value for our shareholders. We approach 2026 with confidence and strategic clarity.” Current Company Fleet: Fleet Data: (In thousands of U.S. Dollars, except operating days and TCE rate) (In thousands of U.S. Dollars, except ownership days and Daily Vessel Operating Expenses) Net Loss to EBITDA and Adjusted EBITDA Reconciliation: (In thousands of U.S. Dollars) Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) represents the sum of net income, net interest and finance costs, depreciation and amortization and, if any, income taxes during a period. EBITDA is not a recognized measurement under U.S. GAAP. Adjusted EBITDA represents EBITDA adjusted to exclude stock-based compensation, impairment loss, loss on extinguishment of debt, gain on consolidation and loss on equity method investment, which the Company believes are not indicative of the ongoing performance of its core operations. EBITDA and Adjusted EBITDA are presented as we believe that these measures are useful to investors as a widely used means of evaluating operating profitability. EBITDA and Adjusted EBITDA as presented here may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures should not be considered in isolation from, as a substitute for, or superior to financial measures prepared in accordance with U.S. GAAP. Net Loss and Adjusted Net Loss Reconciliation and calculation of Adjusted Loss Per Share (In thousands of U.S. Dollars) To derive Adjusted Net Loss and Adjusted Net Loss Per Share, both non-GAAP measures, from Net loss, we exclude certain non-cash items, as provided in the table above. We believe that Adjusted Net Loss and Adjusted Net Loss Per Share assist our management and investors by increasing the comparability of our performance from period to period since each such measure eliminates the effects of such non-cash items as stock-based compensation, impairment loss, loss on extinguishment of debt, gain on consolidation, loss on equity method investment and other items which may vary from year to year, for reasons unrelated to overall operating performance. In addition, we believe that the presentation of the respective measures provides investors with supplemental data relating to our results of operations, and therefore, with a more complete understanding of factors affecting our business than with GAAP measures alone. Our method of computing Adjusted Net Loss and Adjusted Net Loss Per Share may not necessarily be comparable to other similarly titled captions of other companies due to differences in methods of calculation. First Quarter 2026 TCE Rate Guidance: As of the date hereof, approximately 92% of the Company fleet’s expected operating days in the first quarter of 2026 have been fixed at an estimated TCE rate of approximately $15,230. Assuming that for the remaining operating days of our index-linked T/Cs, the respective vessels’ TCE rate will be equal to Forward Freight Agreement (“FFA”) rate of $17,907 per day (based on the FFA curve of March 6, 2026), our estimated TCE for the first quarter of 2026 is approximately $15,2302. Our TCE rate guidance for the first quarter of 2026 includes the already performed conversions of index-linked charters to fixed for the period. __________________ 2 This guidance is based on certain assumptions and the Company cannot provide assurance that these TCE rate estimates or projected utilization rates will be realized. TCE estimates include certain floating (index) to fixed rate conversions concluded in previous periods. For vessels on index-linked T/Cs, the TCE rate realized will vary with the underlying index, and for the purposes of this guidance, the TCE rate assumed for the remaining operating days of the quarter for an index-linked T/C is equal to FFA rate of $17,907 per day (based on the FFA curve of March 6, 2026). Spot estimates are provided using the load-to-discharge method of accounting. The rates quoted are for days currently contracted. Increased ballast days at the end of the quarter will reduce the additional revenues that can be booked based on the accounting cut-offs and therefore the resulting TCE rate will be reduced accordingly. The following table provides the breakdown of index-linked charters and fixed-rate charters in the first quarter of 2026: Fourth Quarter and Recent Developments: Dividend Distribution for Q3 2025 and Declaration of Q4 2025 Dividend On January 9, 2026, the Company paid a quarterly cash dividend of $0.09 per common share, for the third quarter of 2025, to all shareholders of record as of December 29, 2025. The Company has declared a cash dividend of $0.10 per common share for the fourth quarter of 2025 payable on or about April 10, 2026, to all shareholders of record as of March 27, 2026. Buyback of Common Shares – 3rd Repurchase Plan During the fourth quarter of 2025 to date, the Company repurchased 67,665 common shares in open market transactions at an average price of $1.67 per share, for an aggregate consideration of approximately $0.1 million pursuant to the $3.0 million share repurchase program commenced in October 2022. All the above-mentioned shares were cancelled and removed from our share capital as of the date of this release. As of March 6, 2026, the Company had 9,074,139 common shares issued and outstanding. Vessel transactions and commercial updates Sale of M/V Cretansea In January 2026, the Company entered into a definitive agreement with an unaffiliated third party for the sale of its 81,508 dwt Kamsarmax vessel, the 2009-built MV Cretansea. The vessel is expected to be delivered to its new owners by May 25, 2026. The aggregate net sale price of $14.7 million is expected to generate net cash proceeds of approximately $6.0 million after repayment of the associated debt. Acquisition of a Japanese Capesize Vessel through Bareboat Charter Agreement In February 2026, the Company took delivery of the 2010-built Japanese Capesize dry-bulk vessel of 181,453 dwt, MV Dukeship, through an 18-month bareboat charter agreement with Seanergy Maritime Holdings Corp., a related party. Pursuant to the terms of the bareboat charter, United has advanced a down payment of $5.5 million. The bareboat charter includes a daily charter rate of $9,450 over the charter period and a purchase obligation of $22.1 million at the end of the bareboat charter. The Dukeship is currently employed on an index linked time charter with a redelivery date in the first quarter of 2027. The earnings under the time charter have been converted to an average fixed gross daily rate of approximately $29,300 until the end of 2026. Acquisition of M/V Squireship In March 2026, the Company agreed main terms with Seanergy Maritime Holdings Corp., for the acquisition of the 2010-built Capesize bulk carrier M/V Squireship, constructed in South Korea, for a purchase price of $29.5 million. A special committee of disinterested members of our Board of Directors negotiated the terms and approved the agreement. The vessel is expected to be delivered to the Company between end April to beginning of June 2026. The acquisition will be financed through a combination of debt financing and proceeds generated from recent asset monetization initiatives, including the agreed sale of the M/V Cretansea and the divestment of the Company’s equity interest in the offshore energy construction vessel project. Investing & Financing Updates Offshore Sector In July 2024, United entered the ECV newbuilding project at an early stage, gaining exposure to the rapidly expanding offshore energy market serving both subsea oil & gas and renewable infrastructure. As the project progressed and market valuations strengthened, United increased its participation and ultimately became the largest individual shareholder. Consistent with its stated investment strategy which focuses on early entry, value creation and timely exit, in February 2026, the Company agreed to sell its equity interest for approximately €13.0 million, realizing a profit of approximately €1.7 million. The transaction is expected to close by May 31, 2026, subject to customary conditions, after which United will no longer retain an equity interest in the project. Huarong Sale and Leaseback agreement In March 2026, the Company entered into an $18.3 million sale and leaseback agreement with a third party, being an affiliate of China Huarong Shipping Financial Leasing Company Ltd. (“Huarong”) to finance the exercise of the $16.6 million purchase option for the M/V Nisea under its previous bareboat charter. The agreement became effective upon the delivery of the M/V Nisea to the lessor on March 10, 2026. The Company sold and chartered back the vessel on a bareboat basis for a period of five years and has continuous options to purchase the vessel at any time following the first anniversary of the delivery at predetermined prices as set forth in the agreement. The charterhire principal amortizes in 20 quarterly installments of $0.4 million along with a purchase obligation of $11.2 million at the expiry of the bareboat charter. The financing bears an interest rate of 3-month Term SOFR plus 1.95% per annum. The sale and leaseback agreement does not include any financial covenants or security value maintenance provisions. Conference Call: The Company’s management will host a conference call to discuss the financial results today, Thursday, March 12, 2026 at 10:00 a.m. Eastern Time. Audio Webcast: There will be a live, and then archived, webcast of the conference call on the Company’s website. To listen to the archived audio file, visit our website, in the “Investors” section. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast, following this link. Conference Call Details: Participants have the option to register for the call using the following link. You can use any number from the list or add your phone number and let the system call you right away. * Derived from the audited consolidated financial statements as of the period as of that date About United Maritime Corporation United Maritime Corporation is an international shipping company specializing in worldwide seaborne transportation services. The Company operates a fleet of six dry bulk vessels, comprising one Capesize, two Kamsarmax and three Panamax vessels, with an aggregate cargo carrying capacity of 577,750 dwt. Upon completion of the aforementioned sale of the M/V Cretansea and the acquisition of the M/V Squireship, the Company’s operating fleet will consist of six vessels (two Capesize, one Kamsarmax and three Panamax), with an aggregate cargo carrying capacity of 666,260 dwt. The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “USEA”. Please visit the Company’s website at: www.unitedmaritime.gr. Forward-Looking Statements This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to the share repurchases, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks arising from trade disputes between the U.S. and China, including the re-imposition of reciprocal port fees; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between the U.S. and Venezuela, China and Taiwan, Israel and Hamas or Iran and Russia and Ukraine; risks associated with the length and severity of pandemics; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. For further information please contact: United Investor Relations Tel: +30 213 0181 522 E-mail: [email protected] Capital Link, Inc. Paul Lampoutis 230 Park Avenue Suite 1540 New York, NY 10169 Tel: (212) 661-7566 E-mail: [email protected] A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f2240e3d-6bda-4c2e-a79a-02abc474cb51

Earnings Release: Thursday, March 12, 2026, Before Market Open in New York Conference Call and Webcast: Thursday, March 12, 2026, at 10:00 a.m. Eastern Time GLYFADA, Greece, March 09, 2026 (GLOBE NEWSWIRE) -- United Maritime Corporation (the “Company” or “United”) (NASDAQ: USEA), announced today that it will release its financial results for the fourth quarter and year ended December 31, 2025, prior to the open of the market in New York on Thursday, March 12, 2026. United’s senior management will conduct a conference call and simultaneous Internet webcast to review these results on Thursday, March 12, 2026 at 10:00 a.m. Eastern Time. Audio Webcast: There will be a live, and then archived, webcast of the conference call available through the Company’s website. To listen to the archived audio file, visit the Investors section of our website. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast, following this link. Conference Call Details: Participants have the option to register for the call using the following link. You can use any number from the list or add your phone number and let the system call you right away. About United Maritime Corporation United Maritime Corporation is an international shipping company specializing in worldwide seaborne transportation services. The Company operates a fleet of six dry bulk vessels, comprising one Capesize, two Kamsarmax and three Panamax vessels, with an aggregate cargo carrying capacity of 577,750 dwt. Upon completion of the announced sale of the M/V Cretansea, the Company’s operating fleet will consist of five vessels (one Capesize, one Kamsarmax and three Panamax), with an aggregate cargo carrying capacity of 496,242 dwt. The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “USEA”. Please visit the Company’s website at: www.unitedmaritime.gr. Forward-Looking Statements This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to the share repurchases, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks arising from trade disputes between the U.S. and China, including the re-imposition of reciprocal port fees; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between the U.S. and Venezuela, China and Taiwan, Israel and Hamas or Iran and Russia and Ukraine; risks associated with the length and severity of pandemics; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. For further information please contact: United Investor Relations Tel: +30 213 0181 522 E-mail: [email protected] Capital Link, Inc. Paul Lampoutis 230 Park Avenue Suite 1540 New York, NY 10169 Tel: (212) 661-7566 E-mail: [email protected]