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The Deadline to Vote is Today at 11:59 PM ET Genco Urges Shareholders to Follow Recommendations of All Three Proxy Advisory Firms - ISS, Glass Lewis and Egan-Jones - to Vote FOR Genco's Highly Qualified Director Nominees Voting Information is Available at www.GencoDrivesSuperiorReturns.com New York - June 17, 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 reminds shareholders to protect their Genco investments and get their votes in on the WHITE proxy card ahead of the 11:59 PM ET voting deadline. Genco also issued the following statement: The deadline to get your vote counted is tonight, so this is your last chance to take action and vote before it is too late. Vote TODAY on the WHITE proxy card to protect your investment and future upside: • "FOR" Genco's highly qualified directors • "WITHHOLD" on Diana Shipping Inc.'s ("Diana") handpicked nominees • "FOR" the Genco Board's recommendations on other proposals
• Genco prioritizes strong corporate governance as the only U.S.-listed drybulk company with no related-party transactions and consistently ranked in the industry's top quartile for governance - well above Diana, which is ranked in the third quartile. • Genco's experienced and highly qualified Board has been executing our Comprehensive Value Strategy, which has delivered $7.16 per share in dividends to shareholders, generated outsized shareholder returns of 210%, and positioned the Company for significant upside. • Even Diana's Director and President stated that, "Genco is a very well-run drybulk company". • Genco has a growing fleet of premium earning assets, industry-low breakeven levels and high operating leverage, which positions the Company well to deliver increasing dividends and enhanced value to shareholders in a strengthening drybulk market. • Genco is committed to creating shareholder value and has reiterated its willingness to meet again with Diana if they provide an offer that adequately compensates shareholders for the full value of their investment, including an appropriate control premium. Diana is attempting to take control of Genco on the cheap, relying on gamesmanship and falsehoods to mislead shareholders. • Diana's $24.80 tender offer significantly undervalues Genco and its assets, is well below Genco's net asset value (NAV) or liquidation value and does not include a control premium that reflects the value of Genco's sizeable and industry-leading platform in a rising market. • Both of Diana's handpicked nominees have inextricable ties to Diana's agenda, are not fit to serve on the Genco Board and pose significant risks to shareholders' investment. • Jens Ismar has a record of shareholder value destruction in the shipping industry, leading Western Bulk into bankruptcy as its Chief Executive Officer. • Paul Cornell is not independent from Diana and has professional and personal ties to two of its directors - including serving as business partners in a previous drybulk venture. He also received a withhold recommendation from ISS4 when he briefly served for just one year on a U.S.-listed board of directors.5 • Diana's nominees could attempt to bring Diana's failed corporate model to Genco, along with pursuing other value-destructive actions similar to what has occurred at Diana. • Diana has continued to engage in gamesmanship and take desperate actions to disenfranchise shareholders. • Diana rapidly acquired Genco stock, which appears to have been improperly disclosed.6 • Diana sold Genco stock in May 2026 in a period of rising asset values, raising questions of market manipulation to drive down the price of Genco's shares and make their inadequate offer look better. • Diana recently withdrew four of its director nominees in a desperate attempt to resurrect its campaign. • There is no basis for trusting Diana. We believe it's essential to approve Genco's Shareholder Rights Agreement. Without the protection of a Rights Agreement in place, Diana will have a path to take creeping control of the Company and deprive shareholders of the full value of their Genco investment. All three leading proxy advisory firms - ISS, Glass Lewis and Egan-Jones - recommended shareholders vote for all of Genco's Board members and withhold on all of Diana's nominees. In addition, each firm recommended shareholders vote for the Company's equity incentive plan, and Glass Lewis and Egan-Jones recommended shareholders vote for Genco's Shareholder Rights Agreement, which protects the value of Genco's shares. Don't wait. We urge you to vote NOW before today's deadline at 11:59 PM ET. Vote the WHITE proxy card today to protect your investment and upside potential. The Board recommends shareholders vote "FOR" the reelection of Genco's six directors and according to the Board's other recommendations on the Company's WHITE proxy card, "WITHHOLD" on Diana's nominees and "AGAINST" Diana's shareholder proposals. The Board also recommends that Genco shareholders reject Diana's inadequate $24.80 tender offer by not tendering their shares. For additional information on how shareholders can protect their investment, visit 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: 800-322-2885 Email: proxy@mackenziepartners.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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