Pacific Shipping awarded a total of 17,741,000 shares of bonus shares to eligible participants under its 2023 Share Award Scheme on August 2, 2023, representing approximately 0.34% of the Company's issued share capital. Some of the bonus shares are derived from expired shares held by the Trustee and some are purchased through the second-hand market. Executive Director and Chief Executive Officer Martin Fruergaard was granted 1,637,000 shares, Senior Management CFO Michael Jorgensen was granted 1,758,000 shares, and other employees were granted a total of 14,346,000 shares. The awarded bonus shares are not accompanied by performance targets and are primarily used to encourage and reward employees' contributions and loyalty to the Group. The bonus shares have a grace period not exceeding 14 July 2026 and are subject to a refund mechanism. Following this grant, the Company may further issue a total of 87,535,461 shares under the 2023 Share Award Scheme.

Pacific Shipping awarded a total of 17,741,000 shares of bonus shares to eligible participants under its 2023 Share Award Scheme on August 2, 2023, representing approximately 0.34% of the Company's issued share capital. Some of the bonus shares are derived from expired shares held by the Trustee and some are purchased through the second-hand market. Executive Director and Chief Executive Officer Martin Fruergaard was granted 1,637,000 shares, Senior Management CFO Michael Jorgensen was granted 1,758,000 shares, and other employees were granted a total of 14,346,000 shares. The awarded bonus shares are not accompanied by performance targets and are primarily used to encourage and reward employees' contributions and loyalty to the Group. The bonus shares have a grace period not exceeding 14 July 2026 and are subject to a refund mechanism. Following this grant, the Company may further issue a total of 87,535,461 shares under the 2023 Share Award Scheme.