Genco Trading & Shipping Limited Sets the Record Straight on Diana’s False and Misleading Claims in International Shipping News 13/05/2026 Genco Shipping & Trading Limited GNK (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today issued the following communication with important facts shareholders should know to protect their Genco investment. KNOW THE FACTS:Vote the WHITE Proxy Card Diana Shipping Inc. (“Diana”) has made numerous false, misleading and unsubstantiated claims as part of its hostile campaign to take over Genco on the cheap. Do NOT be fooled. Diana is making these statements to distract from the simple truth:Diana is trying to take control of your company without paying full and fair value for doing so. Genco shareholders should have the facts about our highly qualified Board of Directors, our commitment to strong governance and our Comprehensive Value Strategy, which is driving strong returns and creating shareholder value. Shareholders also need to understand the facts about Diana and the risks of putting their unfit handpicked nominees on the Genco Board. Here are just some of the many examples of Diana’s myths from their most recent disclosure and the facts that you should know. About the value of Diana’s inadequate acquisition proposals Myths Diana’s $23.50 per share March 2026 proposal represents approximately 1.0x net asset value (NAV). Facts Diana’s March 2026 Proposal has always been below the underlying value of our assets (our NAV). Genco’s mean sell-side analyst NAV estimate was $25.00 at the time Genco’s Board evaluated it. As of May 12, 2026, the mean sell-side NAV estimate is $26.54 and the current median estimate is $26.80. We are in a period of rising asset values across the industry, and sell-side analysts continue to raise their estimates of Genco’s NAV. Diana’s March 2026 Proposal represents a compelling premium to Genco’s undisturbed share price in November. Diana’s “premium” is based on an arbitrary share price from months before their $23.50 proposal and is irrelevant. The increase in our share price since November has tracked market dynamics, including rising freight rates and asset prices, and we believe it also reflects the success of our Comprehensive Value Strategy. Diana’s March 2026 Proposal represented only a 1% “premium” to Genco’s closing price the day prior to the offer and is lower than where Genco’s shares have traded for weeks. Diana is a direct competitor and knows very well that asset values have risen, but they continue to reference stale prices and values as part of their takeover agenda. About Genco’s attempts to engage with Diana Myths Genco’s Board has refused to engage with Diana. Facts We have attempted to engage with Diana starting with our initial outreach to Diana in 2024, including regarding alternative transaction structures that would create value for both companies’ shareholders. We have been clear: we are open to engaging constructively with Diana if they provide an offer that appropriately values Genco and adequately rewards all shareholders. Diana’s $23.50 per share proposal simply does not meet that standard. Diana has shown no willingness to pay a fair price. About Genco’s shareholder rights plan and credit agreement Myths Genco ’s rights plan is harmful to shareholders. Facts Genco’s Board adopted a limited-duration shareholder rights plan after considerable deliberation and out of ne