Diana Shipping Inc. Challenges Genco Shipping & Trading's Repeated Efforts to Avoid Engagement By Shifting its Own Valuation Methodology

Diana Has Consistently Offered Approximately 1.0x NAV Based on the Same Broker Valuation Source Genco Itself Used for Five Years Genco Has Now Moved the Goalposts by Adopting a New Methodology It Has Never Previously Used to Further Entrench Itself and Avoid Engagement Genco's Demand for a Control Premium on Top of Inflated NAV Estimates Is Inconsistent With How Publicly Traded Shipping Companies Are Trading and How Comparable Transactions Have Been Priced Diana Calls on Genco to Agree to an Independent Valuation Process, Remove Its Poison Pill and Allow Genco Shareholders to Decide For Themselves Whether to Accept the Offer ATHENS, Greece, June 04, 2026 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX) (“Diana” or “the Company”), 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 addressed Genco's continued use of shifting valuation standards as a pretext for avoiding engagement with Diana's fully financed, all-cash offer of $24.80 per share. Diana has consistently offered to acquire Genco at approximately 1.0x its NAV, calculated based on the same VesselsValue broker valuations Genco itself used for more than five years, including for purposes of calculating the market value of Genco's fleet in its Q4 2025 earnings presentation published in February 2026, which is still available on Genco's website.