Athens, Greece, March 20, 2022 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) announced today the pricing of an upsized underwritten public offering of 37,500,000 units at a price of $1.60 per unit. Each unit consists of one common share (or prefunded warrant in lieu thereof) and one Class B warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $60 million.

Athens, Greece, March 15, 2022 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”), a ship-owning company providing petroleum product and crude oil seaborne transportation services, today announced a dividend of approximately $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (the “Series A Preferred Shares”), payable on March 30, 2022 to holders of record as of March 25, 2022. The dividend payment relates to the period from the last dividend payment date for the Series A Preferred Shares on December 30, 2021 through March 29, 2022.

There are 795,878 Series A Preferred Shares outstanding as of the date hereof. The Series A Preferred Shares trade on the Nasdaq Capital Market under the ticker symbol “IMPPP”.

Athens, Greece, February 2, 2022 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) announced today the closing of an upsized underwritten public offering of 9,600,000 units at a price of $1.25 per unit. Each unit consisted of one common share (or prefunded warrant in lieu thereof) and one Class A warrant to purchase one common share, and immediately separated upon issuance. In addition, the Company granted the underwriter a 45-day option to purchase up to an additional 1,440,000 common shares and/or prefunded warrants and/or 1,440,000 Class A warrants, at the public offering price less underwriting discounts and commissions, which the underwriter has partially exercised to purchase 1,440,000 additional Class A Warrants.

Athens, Greece, March 8, 2022 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) announced today that it has entered into an agreement to acquire two M.R. refined petroleum product tankers, built at SLS Shipbuilding, South Korea in 2008 and at Shin Kurushima Dockyard, Japan in 2011 respectively, with an aggregate capacity of approximately 97,000 dwt, from Brave Maritime for an aggregate purchase price of about $31 million, with delivery on a charter free basis expected by end of May 2022. The Company expects to finance the purchase price with cash-on-hand and new senior secured bank debt for which it is in discussions to secure with an international financial institution. The transaction with Brave Maritime, which is affiliated with members of the Vafias family, was approved by the Company’s audit committee comprised of independent directors.

Athens, Greece, January 31, 2022 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) announced today the pricing of an upsized underwritten public offering of 9,600,000 units at a price of $1.25 per unit. Each unit consists of one common share (or prefunded warrant in lieu thereof) and one Class A warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $12.0 million.