DIANA SHIPPING INC. COMMENCES SELF TENDER OFFER TO PURCHASE UP TO 15,000,000 SHARES

02 Dec 2024 15:41 CET

ATHENS, GREECE, December 2, 2024 - Diana Shipping Inc. (NYSE: DSX) (the
“Company”), a global shipping company specializing in the ownership and bareboat
charter-in of dry bulk vessels, today announced it is commencing a tender offer
to purchase up to 15,000,000 shares, or about 12.0%, of its outstanding common
stock, using funds available from cash and cash equivalents on hand at a price
of $2.00 per share. The tender offer will expire at the end of the day, 5:00
P.M., Eastern Time, on December 31, 2024, unless extended or withdrawn. The
Board of Directors determined that it is in the Company’s best interest to
repurchase shares at this time given the Company’s cash position and stock
price. The tender offer is not conditioned upon any minimum number of shares
being tendered. Specific instructions and an explanation of the terms and
conditions of the tender offer are contained in the Offer to Purchase and
related materials that are being mailed to shareholders.

Diana Shipping Inc. has retained Computershare Trust Company, N.A. as the
depositary for the tender offer and Georgeson LLC as the information agent.

Copies of the Offer to Purchase, the related Letter of Transmittal and the
Notice of Guaranteed Delivery are being mailed to the Company’s shareholders.
Additional copies of the Offer to Purchase, the related Letter of Transmittal or
the Notice of Guaranteed Delivery may be obtained at the Company’s expense from
the information agent at (800) 248-7690 (toll free). Questions regarding the
tender offer should be directed to the information agent at (800) 248-7690 (toll
free). Parties outside the U.S. can reach the information agent at
+1-781-575-2137...

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633661_DSX_Tender_Offer_Press_Release_021224_final.pdf