Rubico, a global provider of shipping transportation services specializing in the ownership of vessels, announced today that it has decided to divest its interest in its newbuilding megayacht currently under construction (the “Megayacht”) and to exit the megayacht sector. The Company intends to pursue a sale of the Megayacht, or of the entity that is party to the shipbuilding contract, with the objective of releasing capital for redeployment towards its core tanker business.

The Company believes that focusing on its core tanker business represents the most effective use of its capital and management resources. A divestment of the Megayacht would allow the Company to redeploy capital toward its core business, reduce its future capital commitments, and further simplify its asset base.

The Megayacht has a length of 60 meters and a gross tonnage of 1,150 tons and is scheduled for delivery in the second quarter of 2027. Based on independent market estimates obtained by the Company, for comparable newbuilding megayachts of this size, the Company believes that a sale could generate estimated gross cash proceeds in the range of €30 to €35 million (about $34.2 to $40 million). Further, the sale would eliminate a capital commitment of €26.5 million ($30.2 million) payable prior to delivery of the Megayacht.

There can be no assurance that a divestment will be completed, or as to its timing, structure, terms or the proceeds ultimately realized. The Company has not identified a specific use of proceeds of the sale of the Megayacht and there can be no assurance that the Company will redeploy the net proceeds in the tanker sector. Any transaction would be subject to the negotiation and execution of definitive agreements, the consent of relevant counterparties and financiers, and customary conditions. The estimated valuations set forth above are based on third-party market data and management assumptions and may differ materially from amounts ultimately realized. U.S. dollar amounts in this release are provided for convenience only and are translated at an exchange rate of €1.00 = $1.14 as of July 14, 2026; actual amounts realized may differ.

Kalliopi Ornithopoulou, the Company’s President, Chairwoman & Chief Executive Officer, stated:

“Our decision to exit the megayacht sector reflects our intention to redeploy capital towards our core tanker business. We believe a divestment at current market levels would result in a meaningful equity release, multiple to the Company’s current market cap, while at the same time eliminating a significant  capital commitment.”