GlobeNewswire Inc | Jan 25, 2022 04:05PM EST

January 25, 2022

MONACO, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced todaythat it has entered into an agreement for the acquisition of a 2014-built, Japanese, dry-bulk, 181,000 dwt,Capesizeclass vessel, to be namedMV 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 Mariaissister vessel to our recently acquiredMV Stelios Yand was bought, at what we believe to be a competitive price,capitalizing onthe 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 worlds largest users of marine drybulk transportation services. The Companys common stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols SB, SB.PR.C, and SB.PR.D, respectively.

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and in Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, the Companys growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters. Words such as expects, intends, plans, believes, anticipates, hopes, estimates and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for drybulk vessels, competitive factors in the market in which the Company operates, risks associated with operations outside the United States and other factors listed from time to time in the Companys filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Companys expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For further information please contact:

Company Contact: Dr. Loukas Barmparis President Safe Bulkers, Inc. Tel.: +30 2 111 888 400 Fax: +30 2 111 878 500 E-Mail: directors@safebulkers.com

Investor Relations / Media Contact: Nicolas Bornozis, President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, N.Y. 10169 Tel.: (212) 661-7566 Fax: (212) 661-7526 E-Mail: safebulkers@capitallink.com