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    Dillon Lanius

    Research Analyst at Great Point Capital

    Dillon Lanius's questions to Imperial Petroleum Inc./Marshall Islands (IMPP) leadership

    Dillon Lanius's questions to Imperial Petroleum Inc./Marshall Islands (IMPP) leadership • Q2 2023

    Question

    Dillon Lanius of Great Point Capital inquired about the company's fleet growth strategy, questioning how the recent spin-off and vessel sale align with the stated goal of reaching 15-16 vessels and why the company is adding drybulk carriers instead of remaining a pure-play tanker company.

    Answer

    CEO Harry Vafias explained that while the recent transactions were necessary strategic moves, the company's strong financial position, with significant cash and zero debt, enables aggressive growth. He affirmed the goal of reaching 16 ships within the next 3-6 months. Vafias clarified that Imperial Petroleum has never committed to being a pure-play entity and will opportunistically acquire any vessel type that makes financial sense for shareholders based on market cycles.

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    Dillon Lanius's questions to Imperial Petroleum Inc./Marshall Islands (IMPP) leadership • Q2 2023

    Question

    Dillon Lanius of Great Point Capital inquired about Imperial Petroleum's strategic direction for fleet growth, particularly how the recent spin-off and vessel sale align with the stated goal of reaching 15 carriers, and questioned the shift in fleet composition towards including drybulk vessels.

    Answer

    CEO Harry Vafias explained that while the spin-off and sale were necessary strategic moves, the company's strong financial position, with significant cash and zero debt, positions it for aggressive growth. He expressed confidence in reaching a 16-ship fleet within the next 3-6 months. Vafias also clarified that the company was never intended to be a pure-play tanker operator, emphasizing a flexible strategy of buying and selling vessels based on market cycles to maximize shareholder value.

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    Dillon Lanius's questions to Imperial Petroleum Inc./Marshall Islands (IMPP) leadership • Q2 2023

    Question

    Dillon Lanius of Great Point Capital asked about Imperial Petroleum's strategy to reach its 15-carrier fleet target following the recent spinoff and vessel sale, and questioned the company's direction as it adds drybulk vessels instead of remaining a pure-play tanker company.

    Answer

    CEO Harry Vafias stated that the goal of reaching 16 ships is still on track and achievable within the next three to six months, leveraging the company's strong financial position. He clarified that Imperial Petroleum was never intended to be a pure-play entity and will continue to opportunistically buy and sell ships of any type based on market cycles to maximize shareholder value.

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