Diana Shipping Inc. Reminds Genco Shipping & Trading Shareholders to Cast Their Vote for Independent, Fresh Perspectives in the Boardroom Ahead of Annual Meeting on June 18

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Raises Serious Questions About Governance Changes Designed to Benefit and Protect John Wobensmith Following His Appointment as Chairman Shareholders Have One Last Opportunity to Send a Clear Message to the Genco Board Regarding Its Prioritization of Management's Interests Over Those of Shareholders 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 and Equity Incentive Plan ATHENS, Greece, June 16, 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 issued a final reminder to Genco shareholders that Thursday's Annual Meeting presents a critical opportunity to send a clear and decisive message to the Genco Board of Directors (the "Genco Board") regarding its prioritization of management's interests over those of its shareholders. Diana urges shareholders to vote – as soon as possible – FOR Diana's nominees Jens Ismar and Paul Cornell and AGAINST Genco's proposals to ratify its poison pill and equity incentive plan. Diana's proxy campaign has coincided with a sustained pattern of governance failures by the Genco Board, which has spent more than six months and millions of shareholder dollars blocking access to a $24.80 per share fully financed, all-cash offer at a meaningful premium. At the center of these governance failures are two particular actions – adopted without shareholder approval – that, taken together, appear designed to make it structurally more difficult to replace John Wobensmith, who in August 2025 assumed the role of Chairman — also without a shareholder vote. Wobensmith assuming the role of Chairman effectively eliminated independent board oversight at Genco. Genco shareholders who are concerned with proper governance, transparency, and the alignment of incentives with shareholder interests should ask the following questions of the Genco Board: Diana believes the answers are that no such analysis was conducted. These arrangements were adopted to protect management — not shareholders. And the Boar...

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