C3is Inc. (NASDAQ: CISS) (the "Company"), a ship-owning company providing dry bulk and tanker seaborne transportation services, announced today the expansion of its fleet by entering into two Memoranda of Agreement for the acquisition of two MR product tankers with an approximate capacity of 50,000 dwt per vessel, both built in South Korea in 2008 and 2011, respectively (the "Transaction" or the "Acquisitions").

The purchase price is $16.88 million for the 2008-built tanker and $22.90 million for the 2011-built tanker. The vessels are expected to be delivered to the Company between the first and third quarters of 2026.

Following completion of these acquisitions, the Company's fleet will increase by 50% to a total of six vessels and focus on the lucrative tanker sector. It will consist of three Handysize dry bulk carriers and three tankers, an Aframax oil tanker and two MR product tankers.

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