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Monaco - September 8, 2026 Safe Bulkers, Inc. (the "Company") (NYSE/Euronext Athens: SB), an international provider of marine drybulk transportation services, announced today that it is contemplating a private placement of approximately 12,000,000 new shares of common stock (the "Offer Shares") (the "Private Placement"). No prospectus, institutional offering circular or other offering document has been prepared or issued by the Company in connection with the Private Placement. The Company has mandated Piraeus Bank S.A., DNB Carnegie, a part of DNB Bank ASA, and Fearnley Securities AS (collectively, the "Managers") as managers in the Private Placement. The number of Offer Shares and price per share (the "Offer Price") will be determined by the Company's Board of Directors (the "Board") in consultation with the Managers on the basis of an accelerated bookbuilding process conducted by the Managers. The Offer Price will be denominated in EUR. The Company intends to use the net proceeds from the Private Placement to enhance liquidity, finance its current newbuilding program, and potentially support future newbuild vessel orders or second-hand vessel acquisitions, as well as for general corporate purposes. Mr. Polys Hajioannou, Chief Executive Officer and the largest shareholder of the Company, has committed to participate in the Private Placement and subscribe for 2,000,000 Offer Shares at the Offer Price, subject to a potential scale-back to facilitate allocations to other high-quality investors. Offering Structure The Offer Shares will be offered and sold by the Managers exclusively to institutional investors outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"). In member states of the European Economic Area ("EEA"), the offering is addressed solely to "qualified investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129 of the European Parliament and of the Council (the "Prospectus Regulation"). In the United Kingdom ("UK"), the offering is addressed solely to persons qualifying as "qualified investors" within the meaning of paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024 (the "POATRs"). Lock-Up The Company, the members of the Board and the Company's executive management will agree to customary lock-up undertakings with the Managers for a period of 180 days following completion of the Private Placement (subject to customary exceptions). Trading Suspension on Euronext Athens The Company has submitted a request to the Hellenic Capital Market Commission for the suspension of trading in its shares of common stock on Euronext Athens on 9 September 2026, from market opening until the announcement of the outcome of the Private Placement, which is expected to occur no later than 14:00 (EET) / 13:00 (CEST) on the same day. The Company will announce the outcome of the Private Placement, including the final Offer Price and the number of Offer Shares to be issued, upon completion of the bookbuilding process, via a subsequent announcement. Advisers Piraeus Bank S.A., DNB Carnegie, part of DNB Bank ASA, and Fearnley Securities AS are acting as Joint Global Coordinators and Joint Bookrunners in the Private Placement. Milbank LLP is acting as the Company's legal adviser, and PotamitisVekris and Advokatfirmaet BAHR AS are acting as the Managers' legal advisers. 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 is dual-listed on the NYSE and Euronext Athens, trading under the symbol "SB". The Company's Series C and Series D preferred shares are listed on the NYSE under the symbols "SB.PR.C" and "SB.PR.D", respectively. Safe Bulkers, Inc. press release 
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