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Safe Bulkers, Inc. announces upsizing of ATM programme

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Dry Bulk,

Safe Bulkers, Inc., an international provider of marine dry bulk transportation services, increased to US$100.0 million the maximum aggregate dollar amount of shares of the Company’s common stock that may be sold under its previously announced at-the-market (ATM) programme established on 7 August 2020 with DNB Markets. Inc. (DNB), as sales agent.

On 26 May 2021, the Company filed a prospectus supplement in connection with an amendment to its previously disclosed Sales Agreement with DNB to increase the size of its at-the-market programme pursuant to which the Company may now offer and sell, from time to time through DNB, shares of the Company’s common stock having an aggregate offering price up to US$100.0 million.

As of 25 May 2021, the Company has sold approximately 6 664 774 shares of common stock under the ATM and, as a result, shares of common stock with an aggregate offering price of up to approximately US$78.8 million remain available for sale.

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