Toro Corp. Announces the Sale of the M/T Wonder Sirius for $33.8 Million with an Expected Net Gain of $20.9 Million

Limassol, Cyprus - January 16, 2024

Toro Corp. (NASDAQ: TORO) ("Toro", or the "Company") an international energy transportation services company, announces that on January 8, 2024, the Company entered into an agreement with an unaffiliated third-party for the sale of the M/T Wonder Sirius, a 2005-built Aframax/LR2 tanker, for a price of $33.8 million.

The vessel is expected to be delivered to its new owner during the first quarter of 2024.

The Company expects to record during the first quarter of 2024 a net gain of approximately $20.9 million from the above-mentioned sale, excluding any transaction-related costs.

About Toro Corp.
Toro Corp. is an international energy transportation services company with a fleet of tankers and LPG carriers that carry crude oil, petroleum products and petrochemical gases worldwide.

Toro Corp. currently owns a fleet of six vessels with an aggregate capacity of 0.2 million dwt, which consists of the M/T Wonder Sirius, one Handysize tanker and four 5,000 cbm LPG carriers.

Toro is incorporated under the laws of the Republic of the Marshall Islands. The Company's common shares trade on the Nasdaq Capital Market under the symbol “TORO”.

For more information, please visit the Company's website at www.torocorp.com. Information on our website does not constitute a part of this press release.

Toro Corp., press release