Genco Trading & Shipping Limited Sets the Record Straight on Diana’s False and Misleading Claims

About this update from Genco Shipping & Trading Limited

Urges Shareholders to Vote “FOR” Genco’s Highly Qualified Board on the WHITE Proxy Card – and “WITHHOLD” on Diana’s Nominees For More Information Visit www.GencoDrivesSuperiorReturns.com NEW YORK, May 12, 2026 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today issued the following communication with important facts shareholders should know to protect their Genco investment. KNOW THE FACTS: Vote the WHITE Proxy Card Diana Shipping Inc. (“Diana”) has made numerous false, misleading and unsubstantiated claims as part of its hostile campaign to take over Genco on the cheap. Do NOT be fooled. Diana is making these statements to distract from the simple truth: Diana is trying to take control of your company without paying full and fair value for doing so. Genco shareholders should have the facts about our highly qualified Board of Directors, our commitment to strong governance and our Comprehensive Value Strategy, which is driving strong returns and creating shareholder value. Shareholders also need to understand the facts about Diana and the risks of putting their unfit handpicked nominees on the Genco Board. Here are just some of the many examples of Diana’s myths from their most recent disclosure and the facts that you should know. About the value of Diana’s inadequate acquisition proposals About Genco’s attempts to engage with Diana About Genco’s shareholder rights plan and credit agreement About Genco’s executive compensation About Genco’s corporate governance and our directors’ independence The biggest WHOPPERS of them all... We urge you to rely on the facts and ignore Diana’s myths. Vote the WHITE proxy card today: Additional shareholder resources regarding the 2026 Annual Meeting of Shareholders can be found here: www.GencoDrivesSuperiorReturns.com. If you have any questions or require any assistance with voting your shares, please call or email Genco’s proxy solicitor: MacKenzie Partners, Inc.Toll Free: 800-322-2885Email: [email protected] Jefferies LLC is acting as financial advisor to Genco and Herbert Smith Freehills Kramer (US) LLP and Sidley Austin LLP are serving as legal counsel to Genco. Morgan Stanley & Co. LLC is acting as special advisor to the Board of Directors...

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