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Features Key Commentary from Diana and Star Bulk on Their Proposed Transaction and Market Conditions The Video and Information on How to VOTE the WHITE Proxy Card Are Available at www.gencodrivessuperiorreturns.com/shareholder-resources New York - June 5, 2026 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 shared a video highlighting key commentary from Diana Shipping Inc. ("Diana") and Star Bulk related to Diana's inadequate offer to acquire Genco on the cheap and the strength of the drybulk market. Genco issued the following statement: Genco is well positioned to deliver superior returns and value to shareholders in a strengthening drybulk market through the continued execution of its successful Comprehensive Value Strategy. Diana is trying to take over Genco on the cheap. To do so, Diana has launched a tender offer at an inadequate price and proxy fight to replace the entire Genco Board with its own handpicked, unfit nominees. As a competitor and a shipowner, Diana is well aware that its offer does not represent 1.0x net asset value (NAV). No matter the source - be it third-party sell-side analysts or VesselsValue.com - Diana's offer is at a discount to Genco's liquidation value and does not include a control premium. Diana has continued to spread falsehoods and misleading statements throughout its campaign, which are designed to distract from the facts: • Genco's highly qualified Board is committed to maximizing shareholder value and is continuing to take actions that are in the best interests of all Genco shareholders. • Our Board has been clear that it is open to meeting again with Diana if they submit a proposal that reflects the underlying value of our assets and provides an appropriate control premium. • Diana's latest $24.80 per share offer remains below the mean and median third-party sell-side analysts' Genco NAV estimates of $26.66 and $27.10, respectively. We encourage shareholders to ignore Diana's misinformation, and listen to what Diana and its transaction partner, Star Bulk, actually have to say about Genco, how to value an offer and the strength of the drybulk market: www.GencoDrivesSuperiorReturns.com/shareholder-resources. Protect your investment - VOTE TODAY. The Board encourages shareholders to vote the WHITE proxy card today "FOR" Genco's highly qualified nominees, "WITHHOLD" on Diana's handpicked nominees and reject Diana's inadequate tender offer. Additional shareholder resources regarding the 2026 Annual Meeting of Shareholders can be found here: www.GencoDrivesSuperiorReturns.com. 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. About Genco Shipping & Trading Limited Genco Shipping & Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We transport key cargoes such as iron ore, coal, grain, steel products, bauxite, cement, nickel ore among other commodities along worldwide shipping routes. Our wholly owned high quality, modern fleet of dry cargo vessels consists of the larger Newcastlemax and Capesize vessels (major bulk) and the medium-sized Ultramax and Supramax vessels (minor bulk), enabling us to carry a wide range of cargoes. Genco's fleet consists of 43 vessels with an average age of 12.6 years and an aggregate capacity of approximately 4,935,000 dwt. Genco Shipping & Trading Limited press release 
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