Genco Shipping & Trading Limited Sends Letter to Shareholders Detailing Genco Board of Directors’ Strong Position to Continue Generating Superior Value in International Shipping News 04/06/2026 Genco Shipping & Trading Limited, the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today sent a letter to Genco shareholders detailing why Genco’s Board of Directors is best positioned to deliver superior returns and create shareholder value. Genco also issued the following statement: Genco’s Board of Directors are the architects of the Company’s Comprehensive Value Strategy, which has been delivering compelling and growing dividends and superior value to shareholders. We have significant momentum in a strengthening drybulk market, and our shareholders are poised to continue benefiting from increasing dividends and enhanced value in 2026 and beyond. Make no mistake, and do not be fooled by the misleading statements that Diana Shipping has made as part of their attempts to take control of Genco on the cheap. The Genco Board is committed to maximizing value for Genco shareholders and is continuing to take actions that are in the best of all Genco shareholders. To that end, we have responded appropriately to Diana at every step of their takeover campaign and have been abundantly clear on where we stand. We are 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. Selling below liquidation value is simply not in the best interests of our shareholders. Diana’s latest $24.80 per share offer remains below the mean and median third-party sell-side analysts’ Genco net asset value (NAV) estimates of $26.66 and $27.10, respectively.1 No matter the source — be it sell-side analysts or VesselsValue — Diana’s offer is at a discount to Genco’s liquidation value and does not include a control premium. We have consistently referenced s