Safe Bulkers (SB) Corporate presentation summary

Business and fleet

• Pure-play dry-bulk operator with 67 years of family shipping history; 44% management ownership and NYSE listing since 2008, with a 2026 Euronext Athens dual listing.

• Fleet of 46 vessels: 8 Panamax, 14 Kamsarmax, 17 Post-Panamax and 7 Capesize; average age 10.3 years.

• Nine newbuilds on order as of June 30, 2026; remaining capex of $277.2M, with payments scheduled through 2029.

• Fleet renewal includes 14 Phase-3 newbuilds delivered, 26 environmentally upgraded vessels and 22 scrubber installations.

Operations and chartering

• H1 2026 TCE rate was $18,862/day versus $17,283/day for the P5TC Kamsarmax time-charter average.

• H1 2026 daily vessel operating expenses were $4,830 and daily G&A expenses were $1,760; presentation describes the cost structure as among the market’s lowest.

• Fleet carbon intensity was reduced 22% since 2021; 2025 fleet-weighted average CII was below the IMO reference CII.

• Phase-3 and environmentally upgraded vessels are positioned to earn a premium over the index based on fuel efficiency.

Financial position

• June 30, 2026 liquidity and capital resources totaled $343M, comprising $142.9M cash and restricted cash plus $200.1M undrawn revolving credit capacity.

• Contracted revenue was $153.8M net of commissions, excluding scrubber benefit, as of June 30, 2026; September 2026 private placement gross proceeds were €80.4M/$92.3M.

• Outstanding consolidated debt was $519.2M and consolidated leverage was 30% as of June 30, 2026; net debt was $8.0M per vessel.

• Remaining capex for nine newbuilds was $277.2M; $91.5M had been paid in advances by June 30, 2026.