Genco Shipping & Trading (GNK) Proxy filing summary

Executive summary

• Strategic actions focus on maximizing shareholder value, including a low-leverage, high-dividend model and fleet growth flexibility.

• Over $292 million in dividends distributed and $492 million invested in modern vessels since April 2021.

• Achieved 213% total shareholder return over five years, outperforming both the S&P 500 and a key competitor.

• Ended Q4 2025 with multi-year highs in EBITDA, TCE, and a $0.50 dividend, marking the 26th consecutive quarterly dividend.

• Confident in ability to generate superior value for shareholders in 2026 and beyond.

Voting matters and shareholder proposals

• Diana Shipping Inc. has launched a proxy contest to replace the entire board with its nominees after its $23.50/share acquisition proposal was rejected.

• Shareholders are urged to disregard proxy materials from Diana and await official proxy materials for the 2026 Annual Meeting.

• The proxy contest is a vote on board control, not on the acquisition proposal itself.

Board of directors and corporate governance

• Board is diverse and independent, with half of directors being women and expertise across shipping, finance, and M&A.

• Board has no related party transactions and is ranked in the top quartile for governance among public shipping companies.

• Board remains open to value-maximizing opportunities and constructive engagement with potential acquirers.