Diana Shipping Inc. Alerts Genco Shareholders of Institutional Shareholder Services’ Recommendation to Vote Against Genco Shipping & Trading's Poison Pill

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ISS Recommendation Cites Entrenchment Concerns While Diana's $24.80 Per Share All-Cash Offer is on the Table Glass Lewis Recognizes Diana as a "Serious and Committed Bidder" and Highlights Risks That the Rights Plan May Limit Shareholders' Ability to Evaluate any Current Offer Genco Board Resists Even Limited, Constructive Board Refresh with Two Independent Nominees Diana Urges Genco Shareholders to Vote the GOLD Universal Proxy Card "FOR" Jens Ismar and Paul Cornell, "WITHHOLD" on Basil G. Mavroleon and Arthur L. Regan, and "AGAINST" Ratifying Genco's Poison Pill ATHENS, Greece, June 09, 2026 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX) (“Diana” or “the Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels that is the largest shareholder of Genco Shipping & Trading Limited (NYSE: GNK) (“Genco”), today highlighted Institutional Shareholder Services Inc.'s ("ISS") recommendation that Genco shareholders vote AGAINST the ratification of Genco's poison pill. ISS found that the pill's proposed three-year extension raises concern about its potential use as an entrenchment mechanism to prevent shareholders from accepting Diana's $24.80 per share fully financed, all-cash offer or other offers made to Genco shareholders. Glass Lewis & Co. ("Glass Lewis"), which characterized Diana as a "serious and committed bidder," also raised concern that the poison pill may limit shareholders' ability to evaluate Diana’s offer. These perspectives reinforce that voting against the poison pill is an important step toward ensuring shareholders have the opportunity they deserve to assess value creation opportunities that impact their investment. Genco has structured the poison pill ratification as an advisory vote only, with no binding commitment to honor the result — meaning the Genco Board of Directors (the "Genco Board") retains the right to maintain – and even extend – the poison pill regardless of how shareholders vote. Diana asks: why won't the Genco Board — which has spent millions of dollars blocking access to a fully financed, all-cash offer — commit to remove the poison pill if shareholders vote it down? Diana urges all Genco shareholders to vote the GOLD universal proxy card “FOR” Jens...

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