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Monaco - June 09, 2020 Scorpio Bulkers Inc. (NYSE: SALT) (the “Company”) announced today that it has upsized and priced its previously announced underwritten public offering (the “Offering”) of shares of common stock, par value $0.01 per share (the “Common Shares”). The Company has agreed to sell 4,100,000 Common Shares at $18.46 per share. Scorpio Services Holding Limited, a related party to the Company, has agreed to purchase an aggregate of 950,000 Common Shares at the public offering price. The Offering is expected to close on June 12, 2020. The net proceeds of the Offering are expected to be used for general corporate purposes. The Company has granted the underwriters a 30-day option to purchase up to an additional 615,000 Common Shares. BofA Securities, BTIG and Clarksons Platou Securities are acting as Joint Bookrunning Managers in the Offering. Pareto Securities and Arctic Securities are acting as Co-Managers in the Offering. The Company’s Common Shares trade on the New York Stock Exchange under the symbol “SALT.” Scorpio Bulkers Inc. Announces Public Offering of Common Shares Monaco - June 09, 2020 Scorpio Bulkers Inc. (NYSE: SALT) (the “Company”) announced today that it intends to offer, issue and sell to the public $60.0 million of shares of its common stock, par value $0.01 per share (the “Common Shares”), through an underwritten public offering (the “Offering”). The net proceeds of the Offering are expected to be used for general corporate purposes. As part of the Offering, Scorpio Services Holding Limited, a related party to the Company, has expressed an interest to purchase Common Shares at the public offering price with a value of at least $15.0 million. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional $9.0 million of Common Shares. BofA Securities, BTIG and Clarksons Platou Securities are acting as Joint Bookrunning Managers in the Offering. Pareto Securities and Arctic Securities are acting as Co-Managers in the Offering. The Company’s Common Shares trade on the New York Stock Exchange under the symbol “SALT.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. A shelf registration statement relating to the Common Shares was filed with the U.S. Securities and Exchange Commission (the “SEC”) and is effective. This offering is being made only by means of a prospectus supplement and the accompanying base prospectus. A prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. When available, copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained from BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospe_requests@bofa.com; BTIG, LLC, 65 East 55th Street, New York, NY 10022, or by email at USSyndicate@btig.com; or Clarksons Platou Securities, Inc., 280 Park Avenue, New York, NY 10017, Attention: Compliance, or by email at GL-SEC-COMPLIANCE@exchange.clarksons.com. About Scorpio Bulkers Inc. Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc. has an operating fleet of 55 vessels consisting of 49 wholly-owned or finance leased drybulk vessels (including 16 Kamsarmax vessels and 33 Ultramax vessels), and six time chartered-in vessels (including five Kamsarmax vessels and one Ultramax vessel). The Company’s owned and finance leased fleet has a total carrying capacity of approximately 3.4 million dwt and all of the Company’s owned and finance leased vessels have carrying capacities of greater than 60,000 dwt. Additional information about the Company is available on the Company’s website www.scorpiobulkers.com, which is not a part of this press release. Scorpio Bulkers Inc. press release 
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