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Genco's Annual Meeting to Convene as Scheduled on June 18, 2026 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 issued the following statement regarding the revised unsolicited, indicative non-binding proposal from Diana Shipping Inc. ("Diana"): The Genco Board is committed to maximizing shareholder value and will carefully review the revised proposal from Diana, in consultation with its financial and legal advisors. The Board will continue taking the course of action that is in the best interests of Genco and all of its shareholders. Genco will proceed with the June 18, 2026 Annual Meeting date as scheduled. It was Diana's decision to announce its revised offer only 24 hours prior to the long scheduled Annual Meeting. Postponing the Annual Meeting would create undue burden on Genco shareholders. We emphasize that the Genco Annual Meeting is not a vote on Diana's takeover proposal. The vote decides who leads the Company. We believe Genco's highly qualified directors are best positioned to pursue the interests of all shareholders, including evaluating Diana's revised proposal. In contrast, Diana's two remaining handpicked nominees have ties to Diana's agenda and are not fit to serve on the Genco Board. The deadline to get your vote counted is still tonight at 11:59 PM ET. Vote TODAY on the WHITE proxy card to protect your investment and future upside: • "FOR" Genco's highly qualified directors. • "WITHHOLD" on Diana's handpicked nominees. • "FOR" the Genco Board's recommendations on other proposals, including the shareholder rights plan that is necessary to prevent Diana from taking creeping control of Genco. 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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