Safe Bulkers, Inc. Announces Agreement for the Acquisition of One Capesize Class Dry-bulk Japanese Vessel

Monaco - January 25, 2022

Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has entered into an agreement for the acquisition of a 2014-built, Japanese, dry-bulk, 181,000 dwt, Capesize class vessel, to be named MV Maria, with a scheduled delivery date within February 2022.

The vessel will be acquired at a purchase price of $33.8 million and will be financed from the cash reserves of the Company.

Dr. Loukas Barmparis, President of the Company commented:

"This will be our sixth Cape and the 40th vessel in our fleet. MV Maria is sister vessel to our recently acquired MV Stelios Y and was bought, at what we believe to be a competitive price, capitalizing on the Capesize market seasonal weakness."

About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services.

The Company’s common stock, Series C and Series D preferred stock is listed on the NYSE, where it trades under the symbols “SB”, “SB.PR.C” and “SB.PR.D”, respectively.

Safe Bulkers, Inc. press release