Diana Shipping Inc. Comments On Genco Shipping & Trading’s Rejection Of $24.80 Per Share All-Cash Tender Offer in Hellenic Shipping News 03/06/2026 Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels that is the largest shareholder of Genco Shipping & Trading Limited (NYSE: GNK) (“Genco”), today commented on the Genco Board of Directors’ (the “Genco Board”) rejection of Diana’s $24.80 per share all-cash tender offer. This is the third time the Genco Board has rejected Diana’s increasingly compelling offers to acquire Genco without any engagement whatsoever. Semiramis Paliou, Diana’s Chief Executive Officer, commented: “Genco’s news release today makes clear — more than ever — that the Genco Board is not going to engage in a constructive dialogue regarding our proposal. Despite an empty statement that they are willing to engage, their conduct for more than six months demonstrates the exact opposite. The Genco Board has no intention whatsoever of participating in the type of dialogue that can result in an attractive transaction for their shareholders. This is how they have conducted themselves for more than six months — rejecting engagement while offering no counterproposal, refusing every conversation, and moving the goalposts on valuation by discarding the same broker values they published for five years the moment those values no longer served their purpose. It is now completely apparent this will not change, and the potential to realize shareholder value will remain at risk.” Shareholders should ask themselves a simple question: why has Genco suddenly abandoned VesselsValue — the independent, widely-accepted broker valuation source it relied upon and published in its own investor presentations for more than five years — and replaced it with sell-side analyst estimates it has never before utilized with shareholders? Diana’s two most recent offers reflected nearly 100% of Genco’s net asset