On May 17, 2024, Genco Shipping & Trading Limited announced that it has issued a statement regarding George Economou?s withdrawal of the nomination of Robert Pons for election to the Genco Board of Directors, stating that it is pleased that George Economou has withdrawn from the proxy fight that he started, and note that to the very end, Economou continued to disseminate statements about the Company, its Board and its performance that the Company believe are inaccurate. In addition, the Company stated that 1) it has made no changes to its strategy since Economou invested in the Company, 2) it has long been the industry leader in corporate governance, and it believes Economou?s claims about the Company Board, its Chairman and the recent appointment of Paramita Das are wrong, 3) 3rd parties rejected Economou?s proposal and his nominee. Further, the Company urged the shareholders to vote in favor of the re-election of each of Company?s nominees at the 2024 annual meeting of shareholders scheduled to be held on May 23, 2024.