GENCO SHIPPING & TRADING LTD

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, “Item 1A. Risk Factors” in the 2025 10-K, which could materially affect our business, financial condition or future results.

Below is an update to the risk factor entitled, “Military actions, terrorist attacks, and other acts of violence may have an adverse effect on our business.”

In February 2026, the United States and Israel launched military operations against Iran, resulting in an armed conflict that has caused significant disruption to global energy markets and international shipping, including the effective closure of the Strait of Hormuz. In turn, these events have resulted in a sharp increase in oil prices and concerns that the supply of crude oil and petroleum products used for vessel fuel may be significantly constrained for some period of time. The broader consequences of this conflict are uncertain, and could include further sanctions, blockades, embargoes, regional instability, geopolitical shifts and adverse effects on macroeconomic conditions, the availability of raw materials, supplies, freight and labor, currency exchange rates and financial markets, all of which could impact our business, financial condition and results of operations. Regarding the drybulk market, the ability to transport certain minor bulk cargoes imported and exported from the region may be negatively impacted. Additionally, we anticipate fleet inefficiencies on the supply side due to vessels currently in the region as well as re-routing of cargo flows as well as an

increased emphasis on energy security. The broader impact from this conflict on global GDP growth and in turn demand for raw materials that we carry remains uncertain.

Below is an update to the risk factor entitled, “A downturn in the global economic environment may negatively impact our business.”

Government intervention to reduce commodity exports, such as a cap to bauxite shipments originating from Guinea, could reduce cargo volumes and negatively impact freight rates.