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Limassol, Cyprus, July 24, 2023 Castor Maritime Inc. (NASDAQ: CTRM), ("Castor", or the "Company"), a diversified global shipping company, announces that on July 20, 2023, the Company completed the previously announced sale at a price of $17.5 million of the M/V Magic Twilight, a 2010-built Kamsarmax, by delivering the vessel to its new owner. The Company expects to record during the third quarter of 2023 a net gain on the sale of the M/V Magic Twilight of approximately $4.0 million, excluding any transaction related costs. Castor Maritime Inc. Announces the Sale of the M/V Magic Twilight for $17.5 Million and With an Expected Net Gain of $4.0 Million Limassol, Cyprus - June 15, 2023 Castor Maritime Inc. (NASDAQ: CTRM) ("Castor", or the "Company"), a diversified global shipping company, announces that on June 2, 2023, the Company entered into an agreement with an unaffiliated third party for the sale of the M/V Magic Twilight, a 2010-built Kamsarmax bulk carrier, at a price of $17.5 million. The conclusion of the sale agreement is subject to the execution of definitive documentation customary for this type of transaction. The vessel is expected to be delivered to its new owner during the third quarter of 2023. The Company expects to record during the third quarter of 2023 a net gain on the sale of the M/V Magic Twilight of approximately $4.0 million, excluding any transaction related costs. About Castor Maritime Inc. Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels. Castor owns a fleet of 21 vessels, with an aggregate capacity of 1.7 million dwt, currently consisting of 1 Capesize, 7 Kamsarmax, 11 Panamax dry bulk vessels, 2 2,700 TEU containership vessels, which include the M/V Magic Twilight and the M/V Magic Moon that the Company agreed to sell on June 2, 2023 and March 23, 2023, respectively. For more information, please visit the Company's website at www.castormaritime.com. Information on our website does not constitute a part of this press release. Castor Maritime press release 
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