Pangaea Logistics Solutions Appoints Eugene I. Davis as New Class II Director Amid Governance Changes

### Strategic Leadership Change at Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd., a prominent player in maritime logistics, appoints Eugene I. Davis as a Class II director on its Board, effective immediately. This change follows the resignation of Christina Tan, a move that reflects Pangaea's commitment to ensuring effective governance and strategic oversight. The Board confirms Davis's independence in line with Nasdaq regulations, reinforcing the company's adherence to best practices in corporate governance. With an impressive 40-year career in advising companies on shareholder value and corporate strategy, Davis's extensive experience positions him as a valuable asset for Pangaea.

As Chairman and CEO of PIRINATE Consulting Group LLC, Davis brings a wealth of knowledge to the table. His previous roles, including Chairman of the Board of WW International Inc. and board member of Spirit Aviation Holdings Inc., underscore his capability in driving strategic initiatives. Richard du Moulin, Chairman of the Board at Pangaea, expresses confidence in Davis's proven track record in refining strategies and fostering value creation. This alignment with the company's priorities is particularly crucial for Pangaea as it looks to enhance long-term shareholder returns amid a dynamic market landscape.

Davis's appointment is part of a broader strategy to strengthen Pangaea's leadership and governance framework, especially in light of the Investor and Registration Rights Agreement with Strategic Shipping Inc. His expertise will be instrumental as Pangaea continues to focus on seaborne dry bulk logistics, providing vital transportation services and terminal operations for a diverse range of industrial clients. The company handles various cargoes, including grains, coal, and iron ore, underscoring its critical role within the logistics supply chain.

In addition to the leadership announcement, Pangaea Logistics Solutions is actively engaging in industry dialogue. Recently, Mads Petersen, COO of Pangaea, participated in Capital Link's Shipping Sector Webinar Series alongside other industry leaders. The discussion centered on the dry bulk shipping sector's current opportunities and market dynamics, highlighting strategic considerations for navigating evolving challenges.

The insights shared during the webinar emphasize the importance of adaptation and technological advancements, serving as a platform for collaboration among industry stakeholders. As Pangaea Logistics Solutions continues to grow, the leadership changes and ongoing industry conversations reflect its commitment to enhancing operational capabilities and responding to market demands effectively.