Safe Bulkers 8% Series C Cumulative Redeemable Perpetual Preferred Stock

Issued 5/1/2014

Shares Issued  2,000,000   Overallotment Shares 300,000

Market Traded ON   NYSESecurity Ticker Symbol   SB-C

Dividend Payment Paid on the 30th of January, April, July and October beginning on 7/30/2014

Quarterly Dividend   .50   Annual Dividend   2.00

Securities may be redeemed, at the issuers option, as early as 5/31/2019 for a redemption price of $25/share plus accrued dividends

Dividend Payment Will Be a Qualified Distributions.  Preferential tax treatment will be available on this issue.

It should be noted that this issue is a ‘perpetual’ issue which means there is a possibility that it will never be redeemed.

Company Investor Relations Page for Safe Bulkers

Below you can find the offering Prospectus and Final Pricing Document