Dillon Lanius

Ross Haberman

- **Imperial** announced a restructuring plan to enhance its strategy of increasing cash flow and delivering shareholder returns, leveraging technology and its relationship with ExxonMobil.  **[1876581_c3d55bafdc9b401980b3f47f9cdb7665_0]** 
- The company anticipates achieving annual expense savings of **$150 million** by **2028**.  **[1876581_c3d55bafdc9b401980b3f47f9cdb7665_0]** 
- The restructuring is expected to reduce employee roles by approximately **20%** by the end of **2027**.  **[1876581_c3d55bafdc9b401980b3f47f9cdb7665_1]** 
- A one-time restructuring charge of approximately **$330 million** before-tax is expected to be recorded in the **third quarter of 2025**.  **[1876581_c3d55bafdc9b401980b3f47f9cdb7665_1]** 
- Imperial's corporate guidance for **2025** remains unchanged, and the company is committed to meeting or beating its production and cost targets.  **[1876581_c3d55bafdc9b401980b3f47f9cdb7665_0]**

Imperial Announces Restructuring Plan

- For the six months ended June 30, 2025, Imperial Petroleum Inc. reported a **22.4% decrease in revenues** to **$68.4 million** and a net income of **$24.05 million**, down from $36.18 million in the prior year period.  **[1876581_0001193125-25-223281_d887628dex991.htm:1]** **[1876581_0001193125-25-223281_d887628dex991.htm:2]** **[1876581_0001193125-25-223281_d887628dex991.htm:7]** 
- The company's liquidity improved, with **cash and cash equivalents increasing to $127.7 million** as of June 30, 2025, from $67.8 million at December 31, 2024, and **no outstanding debt** at June 30, 2025.  **[1876581_0001193125-25-223281_d887628dex991.htm:1]** **[1876581_0001193125-25-223281_d887628dex991.htm:4]** **[1876581_0001193125-25-223281_d887628dex991.htm:6]** 
- Imperial Petroleum is expanding its fleet, having contracted to acquire **three additional drybulk carriers** for **$51.6 million**, with deliveries expected between Q4 2025 and Q3 2026, which will increase the total fleet to **22 vessels** with an aggregate capacity of **1.4 million dwt**.  **[1876581_0001193125-25-223281_d887628dex991.htm:1]**

Imperial Petroleum Inc. Reports Q2 2025 Financial Results and Fleet Expansion

- Imperial Petroleum Inc. reported **revenues of $147.5 million** and **net income of $50.2 million** for the year ended December 31, 2024.  **[1876581_0001193125-25-191689_d947411dex993.htm:1]** 
- The company's cash and time deposits increased by **66.7%** to **$206.7 million** as of December 31, 2024, compared to approximately $124 million as of December 31, 2023.  **[1876581_0001193125-25-191689_d947411dex993.htm:1]** 
- Imperial Petroleum significantly expanded its fleet, taking delivery of an additional product tanker in **January 2025** and **seven drybulk carriers** within the second quarter of **2025**.  **[1876581_0001193125-25-191689_d947411dex993.htm:1]**  The company also agreed to acquire **three more drybulk carriers** in **August 2025**, with deliveries expected between September 2025 and August 2026.  **[1876581_0001193125-25-191689_d947411dex993.htm:1]** 
- The company's Board of Directors authorized a share repurchase program of up to **$10 million** in September 2023, with **$8.4 million** used to repurchase **4,251,883 shares** as of April 15, 2025.  **[1876581_0001193125-25-191689_d947411dex993.htm:61]**

Imperial Petroleum Inc./Marshall Islands (IMPP)