MONACO, April 15, 2026 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE:SB), an international provider of marine drybulk transportation services, announced today that on the recommendation of the Corporate Governance, Nominating and Compensation Committee, the Board of Directors of the Company (the "Board") voted to expand the size of the Board from nine to eleven directors and to appoint Jeffrey Bunzel and Vassilis Hajioannou to fill the new positions, with immediate effect. The Board has determined that Mr. Bunzel is independent for the purposes of NYSE independence standards and has appointed Mr. Bunzel to serve on the Corporate Governance, Nominating and Compensation Committee, the Environmental, Social and Corporate Governance Committee and the Audit Committee.

Mr. Jeffrey Bunzel brings more than thirty years' experience in Investment, Banking and Capital Markets. He has been Managing Director, Head of Equity Capital Markets at Deutsche Bank AG for 14 years. Before, from 1994-2012 he had been Managing Director at Credit Suisse. Mr Bunzel holds a bachelor's degree from the University of California, Berkeley and a Master of Arts from the Fletcher School of Law and Diplomacy. He is a member of the Council on Foreign Relations.

Mr. Vasilis Hajioannou, with experience in Operations and Chartering departments combines technical knowledge with operational oversight. Mr Hajioannou holds a bachelor's degree in marine engineering and a master's degree in shipping and logistics from Newcastle University, UK.

About Safe Bulkers, Inc.

The Company is an international provider of marine dry-bulk transportation services, transporting bulk cargoes, particularly grain, coal and iron ore, along worldwide shipping routes for some of the world's largest users of marine dry-bulk transportation services. The Company's 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 Company's 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 Company's 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 Company's 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

Safe Bulkers Announces Appointments to the Board of Directors