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Limassol, Cyprus - April 28, 2021 Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that it entered, through a separate wholly-owned subsidiary, into an agreement to acquire a 2011 Chinese-built Panamax dry bulk carrier from an unaffiliated third-party for a purchase price of $14.5 million. The acquisition is expected to be consummated by taking delivery of the vessel during May of this year and is subject to the satisfaction of certain customary closing conditions. Petros Panagiotidis, Chief Executive Officer of Castor, commented: "We are very pleased to announce the acquisition of one more Panamax dry bulk vessel in 2021, increasing Castor’s dry bulk fleet to 15 vessels. Upon completion of all our recently announced acquisitions, our fleet will consist of 18 vessels, tripling in size since the start of this year. The anticipated prompt delivery of this vessel will allow Castor to take further advantage of the current strong market demand for dry bulk tonnage." About Castor Maritime Inc. Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels. On a fully delivered basis, Castor will own a fleet of 18 vessels, with an aggregate capacity of 1.6 million dwt, consisting of 1 Capesize, 6 Kamsarmax and 8 Panamax dry bulk vessels, as well as 1 Aframax and 2 Aframax/LR2 tankers. Where we refer to information on a “fully delivered basis”, we are referring to such information after giving effect to the successful consummation of our recent vessel acquisitions. For more information please visit the Company’s website at www.castormaritime.com Castor Maritime press release 
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