Diana Shipping Inc. Announces Distribution Date for Previously Announced OceanPal Inc. Spin-Off

Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, announced that the distribution date for the previously announced spin-off of its wholly-owned subsidiary, OceanPal Inc., will be November 29, 2021, following the effectiveness of the OceanPal Inc. registration statement under the Securities Exchange Act of 1934 on Form 20-F filed with the U.S. Securities and Exchange Commission (the “Registration Statement”).

The Company expects the spin-off transaction to be consummated on the same terms and conditions as previously announced in the Company’s press release dated October 26, 2021 and in the Registration Statement. The record date of the OceanPal Inc. spin-off will not change.