George Economou Nominates Two Candidates for Genco Board

GK Investor LLC (“GK”), an affiliate of George Economou that is an approximately 5.4% shareholder of Genco Shipping & Trading Limited (“Genco” or the “Company”) (NYSE: GNK), today announced that it has nominated two candidates for election to the Genco Board of Directors (the “Board”) at the 2024 Annual Meeting of Genco’s Shareholders (the “Annual Meeting”).

GK’s nominees are:

• Randee Day, President and CEO of Day & Partners, LLC, a maritime consulting and advisory group. She has 35 years of experience in corporate governance, restructuring, M&A and maritime finance, and is currently a director of International Seaways, Inc. (NYSE: INSW) and Eagle Bulk Shipping Inc. (NYSE: EGLE). Ms. Day previously was interim CEO of DHT Maritime, Inc. (NYSE: DHT) and Managing Director at the Seabury Group. If elected to the Genco Board, Ms. Day would bring substantial maritime industry, governance and financial expertise drawn from decades of senior executive and oversight experience.

• Robert M. Pons, President and CEO of Spartan Advisors, Inc., a management consulting firm specializing in telecom and technology companies. He has served on the boards of directors of 16 publicly traded companies, and has more than 40 years of hands-on operating experience as a CEO and in senior executive positions. If elected to the Genco Board, Mr. Pons would bring significant operational know-how, technology and corporate governance experience based on his numerous executive leadership roles and public company directorships.

George Economou stated, “As a significant Genco shareholder, I strongly believe in the Company’s potential to deliver improved value for shareholders. Both Randee and Robert have highly relevant backgrounds that would, in my view, be additive in the boardroom and would help address Genco’s lagging performance. I believe the entire Board would benefit from their fresh perspectives and collective knowledge of the maritime and technology sectors and experience in finance, corporate strategy and governance. I look forward to engaging with the Company and fellow shareholders regarding the addition of these highly-qualified nominees to the Board.”