Athens, Greece, September 30th ( GLOBE NEWSWIRE ) – TOP Ships Inc . (hereinafter referred to as "the Company" or " TOP Ships ") ( NYSE American : TOPS ) is an international maritime shipowner and operator specializing in modern, energy-efficient " ECO " tankers. The Company announced today that it has completed the share purchase agreement signed on July 28, 2026 (hereinafter referred to as " SPA "), with a related party ("Seller") as the counterparty. Under this agreement, the Company acquired shares in three companies ( " SPVs "), each of which was a party to a shipbuilding contract with a mature, world-class shipbuilder. The contracts were for the construction of three high-specification, ECO,洗涤er-equipped MR type refined oil tankers, which are expected to be delivered in 2029.

These SPV have secured regular chartering business for the relevant vessels, with a major oil conglomerate as the lessee. The leases will commence after the delivery of each ship and have a fixed term of five years, with the lessee having the option to extend them for another year.

About the Company

TOP Ships Inc is an international maritime shipping owner and operator that specializes in modern, energy-efficient ECO tankers, transporting crude oil, petroleum products (both refined and crude), as well as bulk liquid chemicals. The company's tanker fleet has a total carrying capacity of 857,000 deadweight tons, including one 50,000 deadweight-ton finished product/chemical tanker, one 157,000 deadweight-ton Suez-class tanker, two 300,000 deadweight-ton ultra-large tankers (VLCC), and through a joint venture, holds a 50% stake in two additional 50,000 deadweight-ton finished product tankers each. The company has signed contracts for 11 new high-specification 50,000 deadweight-ton MR class tankers, with delivery scheduled for the second quarter of 2028 to the fourth quarter of 2029; one of these has been agreed to be sold. In addition, the company owns the super yacht M/ Y Para Bellvm and has announced its intention to divest from this asset. The company is registered under the laws of the Republic of Marshall Islands and is headquartered in Athens, Greece. Its common shares are traded on NYSE American under the code “TOPS”. For more information, please visit the company's website: www.topships.org.

For further information, please contact:

Alexandros Tsirikos

Forward-looking statements

The matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protection for forward-looking statements in order to encourage companies to provide forward-looking information regarding their business. Forward-looking statements include statements regarding plans, objectives, purposes, strategies, future events or performance, and their underlying assumptions, as well as other statements other than statements of historical facts, including statements regarding the construction, delivery, and employment arrangements of the company's newly built vessels, the agreed sale of one of the company's newly built vessels, and the divestiture of M/ Y Para Bellvm.

The company intends to utilize the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and therefore includes this cautionary statement in this context related to safe harbor legislation. Terms such as "believes," "expects," "intends," "estimates," "predicts," "plans," "potential," "possible," "should," "anticipates," "subject to," and similar expressions are used to identify forward-looking statements. The forward-looking statements in this press release are based on various assumptions, many of which are in turn based on further assumptions, including but not limited to management's examination of historical operating trends, data in the company's records, and other data available to third parties. Although the company believes these assumptions were reasonable at the time they were made, due to the inherent significant uncertainties and contingent factors that affect them, and because they are difficult or impossible to predict and are beyond the company's control, the company cannot guarantee that these expectations, beliefs, or predictions will be realized or fulfilled. For a more complete discussion of these and other risks and uncertainties, please refer to the documents submitted by the company to the U.S. Securities and Exchange Commission. The information contained in this press release is as of the date of this press release, and the company does not undertake any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.