Icon Energy Corp. Commercial Update and Vessel Employment

Icon Energy Corp. has provided a commercial update, announcing a new charter agreement for their vessel, the M/V Charlie. The charter is expected to commence in late April 2026 and last for 16 to 20 months, expiring between August and December 2027. This agreement is with a reputable dry bulk operator and will keep the vessel fully utilized, earning a floating daily hire rate linked to the Baltic Supramax Index. This is projected to add approximately $7.2 million to the Company's estimated minimum contracted revenue. The index-linked rate allows Icon Energy to benefit from a strengthening market and includes an option to convert to a fixed rate. Additionally, the agreement includes compensation for fuel cost savings from the vessel's scrubber, offering further upside potential. The charterer will bear fuel costs, insulating Icon Energy from oil price volatility. The company's fleet consists of Panamax, Kamsarmax, and Ultramax vessels, with varying charter expiration dates. This filing also incorporates by reference a press release dated April 1, 2026, titled 'Icon Energy Corp. Provides Commercial Update.'