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Limassol, Cyprus - May 10, 2021 Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces the closing and drawdown, through two of its ship-owning subsidiaries, of a $18.0 million senior term loan facility with a European bank (the “$18.0 Million Financing”), secured by two of its tanker vessels. The Company intends to use the net proceeds from the $18.0 Million Financing for general corporate purposes, including supporting the Company’s growth plans. The $18.0 Million Financing has a tenor of four years and bears interest at LIBOR plus 3.20% per annum. 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 24 vessels, with an aggregate capacity of 2.1 million dwt, consisting of 1 Capesize, 7 Kamsarmax and 8 Panamax dry bulk vessels, as well as 1 Aframax, 5 Aframax/LR2 and 2 MR1 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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