PANL · Pangaea Logistics Solutions Ltd.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.34 to $8.40, inclusive. The reporting person undertakes to provide to the SEC staff, the issuer, or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Represents restricted stock award that vest in equal annual installments over three years, subject to the reporting person's continued service.

Represents restricted stock award that vest in equal annual installments over three years, subject to the reporting person's continued service.

Represents restricted stock award that vest in equal annual installments over three years, subject to the reporting person's continued service.

Represents a performance-based restricted stock award at target. The number of shares that may be earned ranges from 0% to 150% of the target amount based on the achievement of specified performance criteria.

Represents a performance-based restricted stock award at target. The number of shares that may be earned ranges from 0% to 150% of the target amount based on the achievement of specified performance criteria.

Represents a performance-based restricted stock award at target. The number of shares that may be earned ranges from 0% to 150% of the target amount based on the achievement of specified performance criteria.

Reflects the sale of an aggregate of 23,779 shares of common stock on March 18 and March 19, 2026, at prices ranging from $6.96 to $7.05, with a weighted average price of $6.99. The reporting person undertakes to provide to the issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

The shares were sold to satisfy tax withholding obligations in connection with the vesting of restricted stock units.

Reflects the sale of an aggregate of 19,572 shares of common stock on March 18, 2026, at the weighted average sales price of $7.063.

On February 25, 2026, the Reporting Person transferred 14,140 common shares to an irrevocable family trust having a disinterested trustee for the benefit of his children.

The shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

Unrestricted shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

8,259,999 Common Shares were purchased in an unregistered private placement by the Company pursuant to a subscription agreement dated as of June 15, 2017.

Unrestricted shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

Unrestricted shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

The shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

The shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

The shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

The price reported in Column 4 is an average price. These common shares were purchased in multiple transactions at prices ranging from $4.6235 to $4.6462 per share. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

These shares were purchased in a single transaction at a price of $4.4987.

The price reported in Column 4 is an average price. These common shares were purchased in multiple transactions at prices ranging from $4.4381 to $4.4940 per share. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

These shares were purchased in a single transaction at a price of $4.4403.

These shares were purchased in a single transaction at a price of $4.4956.

These shares were purchased in a single transaction at a price of $4.4974.

The reported price is an average price. These shares were sold in multiple transactions at prices ranging from $4.53 to $4.56 per share.

The reported price is an average price. These shares were purchased in multiple transactions at prices ranging from $4.74 to $4.75 per share.

These shares were purchased in a single transaction at a price of $4.4337.

The price reported in Column 4 is an average price. These common shares were purchased in multiple transactions at prices ranging from $4.3191 to $4.3951 per share. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

The price reported in Column 4 is an average price. These common shares were purchased in multiple transactions at prices ranging from $4.2928 to $4.3496 per share. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

The price reported in Column 4 is an average price. These common shares were purchased in multiple transactions at prices ranging from $4.2828 to $4.2942 per share. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

These shares were purchased in a single transaction at a price of $4.2417.

The price reported in Column 4 is an average price. These common shares were purchased in multiple transactions at prices ranging from $4.2234 to $4.2454 per share. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

The price reported in Column 4 is an average price. These common shares were purchased in multiple transactions at prices ranging from $4.098 to $4.1413 per share. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

The price reported in Column 4 is an average price. These common shares were purchased in multiple transactions at prices ranging from $4.0901 to $4.1965 per share. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

The price reported in Column 4 is an average price. These common shares were purchased in multiple transactions at prices ranging from $4.1013 to $4.1667 per share. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

The price reported in Column 4 is an average price. These common shares were purchased in multiple transactions at prices ranging from $3.9990 to $4.1169 per share. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

On February 28, 2025, the Reporting Person transferred 23,088 common shares to an irrevocable family trust having a disinterested trustee for the benefit of his children.

Restricted shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

Unrestricted shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

8,259,999 Common Shares were purchased in an unregistered private placement by the Company pursuant to a subscription agreement dated as of June 15, 2017.

The shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

The shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

Unrestricted shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

Unrestricted shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).