Offer of $27.34 Per Share, Comprised of $24.80 in Cash and One Diana Share, Remains on the Table

Genco's Characterization of Advisor Engagement to Discuss the Price, Terms and Structure of Diana’s Proposal Is False

More Than Five Weeks After Diana's Most Recent Offer, the Genco Board Continues to Use Stall Tactics to Avoid Real Engagement

Diana Terminates Tender Offer to Eliminate Genco's Latest Excuse for Failing to Engage Substantively

ATHENS, Greece, July 27, 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 responded to Genco's false and misleading July 23 news release, which claimed that Genco's advisors had "engaged with Diana's advisors on multiple occasions in recent weeks to discuss the price, terms and structure of Diana's proposal."

Diana also announced that its tender offer to acquire all outstanding shares of Genco not already owned by Diana expired on July 24, 2026, at 5:00 p.m., New York City time, and that Diana has determined not to extend or reinstate the tender offer.

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