Diana Shipping Inc. Focuses Proxy Contest on Election of Jens Ismar and Paul Cornell to Genco Shipping & Trading Board

About this update from Diana Shipping Inc.

Decision to Withdraw Four Nominees Reflects Diana's Commitment to Providing Shareholders an Opportunity to Affect Meaningful Change on the Genco Board Ismar and Cornell Bring a Fresh Perspective to the Genco Board with Decades of Proven Experience as Seasoned Drybulk Executives and Board Members Calls on Genco Shareholders to Vote the GOLD Universal Proxy Card "FOR" Jens Ismar and Paul Cornell and "WITHHOLD" on Genco Nominees Basil G. Mavroleon and Arthur L. Regan ATHENS, Greece, June 08, 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 announced that it is focusing its proxy contest on the election of two of its nominees to the Genco Board of Directors (the "Genco Board") — Jens Ismar and Paul Cornell — and recommends that shareholders vote "WITHHOLD" on Genco nominees Basil G. Mavroleon and Arthur L. Regan in connection with Genco's 2026 Annual Meeting of Shareholders (the "Annual Meeting") on June 18, 2026. This decision reflects Diana's belief that, regardless of the outcome of its offer, change is needed on the Genco Board, and Mr. Ismar and Mr. Cornell are highly qualified, independent drybulk executives whose experience is directly relevant to challenges and opportunities facing Genco. Diana believes they can make significant positive contributions to the Board's activities, working collaboratively alongside tenured directors. Diana is withdrawing the nominations of Gustave Brun-Lie, Chao Sih Hing Francois, Viktoria Poziopoulou and Quentin Soanes. Semiramis Paliou, Diana's Chief Executive Officer, commented: “We urge Genco shareholders to strongly consider effecting change on the Genco Board in this way and ensuring that there are voices on the Board open to exploring all value creation opportunities for the Genco shareholders. Further, we urge Genco shareholders to follow the recommendation of Institutional Shareholder Services Inc. (“ISS”) and vote against Genco’s overly aggressive poison pill. ISS's recognition that the pill be removed is a meaningful validation of the concerns we have raised throughout this campaign. "Jens Ismar and P...

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