Danaos Corporation (“Danaos”) (NYSE: DAC) announced today that Iraklis Prokopakis will retire from his executive role as Senior Vice President and Chief Operating Officer during the fourth quarter of 2023. Mr. Prokopakis, who has served in this position since 1998, will remain on the Board of Directors and will pursue his academic interests following his retirement.

The position of Chief Operating Officer will be assumed by Dimitris Vastarouchas who currently serves as Deputy Chief Operating Officer of Danaos. Mr. Vastarouchas joined Danaos Shipping Co. Ltd. (our “Manager”) in 1995. He was promoted to Technical Director of our Manager in 2005 and has served as Deputy Chief Operating Officer of Danaos for the last 12 years.

Additionally, Filippos Prokopakis, who currently serves as Commercial Director of our Manager, will be appointed as Chief Commercial Officer of Danaos. Filippos has been with our Manager since 2012 and has considerable expertise across all commercial operations.

Dr. John Coustas, President and Chief Executive Officer of Danaos, commented:

“On behalf of the Board of Directors and the entire Danaos team, I would like to sincerely thank Iraklis, a good friend and valuable colleague, for his many years of service. His leadership and expertise have played a significant role in the development of Danaos over the past 25 years, and Iraklis leaves at a time when the company is as strong as it has ever been. We are happy that Iraklis will remain on the Board of Danaos and continue to contribute his deep knowledge and experience to the company, offering valuable insights on ongoing strategic planning.

Danaos is also fortunate to have the right team in place to enable a smooth leadership transition. Dimitris and Filippos are both long-tenured members of Danaos or our Manager and have significant relevant experience and capabilities to ensure our operating capabilities remain exceptional going forward.”

About Danaos Corporation

Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our current fleet of 68 containerships aggregating 421,293 TEU and 8 under construction containerships aggregating 58,398 TEU ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Our fleet is chartered to many of the world's largest liner companies on fixed-rate charters. Our long track record of success is predicated on our efficient and rigorous operational standards and environmental controls. Danaos Corporation's shares trade on the New York Stock Exchange under the symbol "DAC".

Visit our website at www.danaos.com

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