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Limassol, Cyprus - March 12, 2024 Castor Maritime Inc. (NASDAQ: CTRM), ("Castor" or the "Company"), a diversified global shipping company, announces that on March 11, 2024, it completed the previously announced sale of the M/V Magic Nova, a 2010-built Panamax bulk carrier vessel, for a price of $16.1 million, by delivering the vessel to its new owner. The Company expects to record a net gain of approximately $4.4 million from the above-mentioned sale, excluding any transaction-related costs during the first quarter of 2024. 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 15 vessels, with an aggregate capacity of 1.2 million dwt, currently consisting of the Capesize vessel M/V Magic Orion, which the company agreed to sell on December 7, 2023, five Kamsarmax vessels, including the M/V Magic Nebula and the M/V Magic Venus, which the Company agreed to sell on February 15, 2024, and December 21, 2023, respectively, seven Panamax dry bulk vessels including the M/V Magic Horizon which the Company agreed to sell on January 29, 2024, and two 2,700 TEU containership vessels. 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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