d'Amico International Shipping S.A.

Share Issue/Capital Change • Dec 27, 2021

RESULTS OF d'AMICO INTERNATIONAL SHIPPING WARRANTS 2017-2022 – END OF THE FIFTH ADDITIONAL EXERCISE PERIOD

Luxembourg –December 27th , 2021 – d'Amico International Shipping S.A. (herein after "DIS" or the "Company") announces that the fifth additional exercise period of the "d'Amico International Shipping Warrants 2017 – 2022" (the "Warrants"), ISIN code LU1588548724, has ended (the "Fifth Additional Exercise Period").

During this Fifth Additional Exercise Period no. 2,220 Warrants were exercised at the price of Euro 0.397 per ordinary share, resulting in the subscription of n. 2,220 Warrant Shares, – on the basis of a ratio of one (1) Warrant Share, for each one (1) Warrant exercised – admitted to trading on the Euronext STAR Milan market of Borsa Italiana S.p.A., without nominal value and with the same rights (including that to dividends) and features as DIS' ordinary shares outstanding (the "Warrant Shares").

Following such subscription, DIS' share capital will amount to US\$ 62,052,778.45 represented by 1,241,055,569 ordinary shares without nominal value.

The Warrant Shares will have the same ISIN code of DIS ordinary shares already outstanding (LU0290697514) and will be issued, in compliance with the Terms and Conditions of the Warrants, on 29 December 2021, making them available to those Warrant holders who validly exercised their Warrants, through the settlement centralized management system operated by Euroclear Bank S.A./N.V. and Clearstream Banking S.A. (together the "ICSDs").

On the same date, DIS will resolve the capital increase required to issue such Warrant Share through its attorney duly delegated for this purpose by the relevant corporate competent body.

It is hereby reminded that the Terms and Conditions of the Warrants are available at the Company's website, www.damicointernationalshipping.com, in the 2017 capital increase section as an attachment to the prospectus dated the 18th of April 2017.

From today, also this press release is available on the Investor Relations section of DIS' website, disclosed by the e-market SDIR circuit and stored at Borsa Italiana S.p.A, using the e-market STORAGE system and at Société de la Bourse de Luxembourg in its quality of DIS' Officially Appointed Mechanism (OAM). This press release is also filed with the Commission de Surveillance du Secteur Financier (CSSF).