UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) Commission File Number 001-34077 SAFE BULKERS, INC. (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) Republic of the Marshall Islands (Jurisdiction of incorporation or organization) Safe Bulkers, Inc. Apt. D11 Les Acanthes 6, Avenue des Citronniers MC98000 Monaco (Address of principal executive office) Dr. Loukas Barmparis President Telephone: +30 ...

Financial Performance & Fleet Data - Net revenues were $924 million in 2022[131], compared to $867 million in 2021[131] - Time charter equivalent rate was $21078 in Q4 2022[10], compared to $26180 in Q4 2021[10] - Daily vessel operating expenses were $5323 in Q4 2022[10], compared to $5149 in Q4 2021[10] - The company had 44 vessels at the end of 2022[10] Liquidity & Capital Resources - As of December 31, 2022, the company had $1233 million in cash, cash equivalents, bank time deposits and restricted cash[76] - As of December 31, 2022, the company had $292 million in secured contracted revenues[87] - As of December 31, 2022, the company had $423 million in debt[87] - As of December 31, 2022, the company had $348 million in scrap value[76] Market Outlook & Strategy - Global dry bulk demand is expected to grow by 11% in 2023[32] - The company is investing in Phase 3 newbuilds to enhance fleet environmental competitiveness[48] - As of February 10, 2023, 56% of the common stock repurchase program had been completed, with 2807418 shares repurchased and cancelled[84]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2023 SAFE BULKERS, INC. (Translation of registrant's name into English) Apt. D11, Les Acanthes 6, Avenue des Citronniers, MC98000 Monaco (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. ...

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.41 for Q3 2022, maintaining a dividend policy of $0.05 per share [6][31] - Net income for Q3 2022 was $51 million, down from $55.4 million in the same period of 2021 [25] - Adjusted EBITDA for Q3 2022 stood at $66.9 million, slightly down from $67.7 million in Q3 2021 [30] Business Line Data and Key Metrics Changes - Daily time charter equivalent decreased to $23,403 from $24,427 in the same period last year [25] - Daily operating expenses (OpEx) increased to $4,949 from $4,608 in the previous year, while all-in OpEx and G&A stood at $6,309 [26] Market Data and Key Metrics Changes - The Baltic Capesize Index 5TC currently stands at $12,400 per day, with 7 out of 8 Capesize vessels chartered under period charters at an average daily charter rate of $22,700 [11] - The global dry bulk demand growth is expected to increase only by 1% in 2022, with headwinds for the macro outlook [19][20] Company Strategy and Development Direction - The company is focusing on fleet quality and environmental investments, with plans to have all 44 vessels equipped with ballast water treatment systems by the end of 2022 [8] - The company aims to expand its fleet with 11 Phase III newbuilds, enhancing its competitive edge in terms of fuel consumption and environmental performance [14][22] Management's Comments on Operating Environment and Future Outlook - Management noted a gradually weakening charter market environment compared to the previous quarter, but emphasized strong liquidity and capital resources [6][24] - The company is optimistic about its ability to navigate challenges related to the energy transition and the aging dry bulk fleet [14] Other Important Information - The company has maintained a strong liquidity position of $266 million and contracted revenue of $327 million [11][31] - The company plans to increase dry-dockings in 2023 to enhance environmental upgrades and fleet competitiveness [39] Q&A Session Summary Question: Impact of Chinese COVID lockdowns on bulk shipments - Management indicated that while the situation in China remains uncertain due to low vaccination rates, trade has normalized in most countries, including major hubs [36] Question: Fleet sizing and newbuilds - Management confirmed that five new ships will be delivered in 2023, with four expected in the first half and one in the second half [41] Question: Treatment of gains or losses from retiring vessels - Management clarified that proceeds from older vessels are not recorded as operating income but are considered for liquidity creation for new technology investments [50]

Financial Highlights - As of September 30, 2022, Safe Bulkers Inc had $265.9 million in liquidity, comprising $121.7 million in cash, cash equivalents, bank time deposits and restricted cash, and $144.3 million in undrawn borrowing capacity[6,7] - Safe Bulkers Inc had contracted revenue of approximately $327.2 million, net of commissions, from non-cancellable spot and period time charter contracts excluding the scrubber benefit as of September 30, 2022[6,7] - The company's leverage was 35% as of Q3 2022[6] - The company's annualized dividend yield was 8.1% based on a common stock price of $2.47 per share as of September 30, 2022[6,7] - As of September 30, 2022, the company had $447.9 million of outstanding consolidated debt[44,45] Fleet and Environmental Upgrades - Safe Bulkers Inc's fleet consists of 44 dry bulk vessels[11] - The company plans to have 21 vessels environmentally upgraded by the end of 2023[12,13] - All 44 vessels will have BWTS (Ballast Water Treatment Systems) by the end of 2022[12,13] - All 8 Capesize vessels will have scrubbers by the end of 2023[13] Market and Industry - The Baltic Capesize Index (BCI) 5TC was at $12,379/day as of November 8[36,37] - The company has repurchased 28 million common shares, representing 56% of the authorized buyback program as of November 4, 2022[40,41]

Financial Data and Key Metrics Changes - The company's EPS reached $0.40 per share, with a maintained dividend policy of $0.05 per share [8][51] - Net revenues for Q2 2022 were $91.6 million, up from $81.6 million in the same period of 2021, representing a 12% increase [46] - Net income for Q2 2022 was $50.3 million, compared to $32.4 million in Q2 2021 [47] - Adjusted EBITDA increased to $66.5 million from $54.1 million year-over-year [49] Business Line Data and Key Metrics Changes - Daily time charter equivalent increased to $25,050 from $21,098 in 2021 [46] - Daily operating expenses were $4,981, slightly up from $4,874 in the previous year [48] - The company redeemed $37.3 million in preferred dividends, saving 8% annually [14] Market Data and Key Metrics Changes - The CRB commodity index is at a five-year high, reflecting significant price increases due to the ongoing Russian-Ukrainian war [30] - Global inflation is projected to reach 6.6% in advanced economies and 9.5% in emerging markets due to war-induced commodity price increases [33] Company Strategy and Development Direction - The company is focused on fleet expansion with 11 newbuilds compliant with environmental regulations, aiming to create intrinsic value [9][12] - Investments in scrubber technology are expected to enhance earnings capabilities, with scrubbers installed on 18 vessels [40] - The company maintains a cautious optimism regarding future market conditions despite global instability [21] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of maintaining liquidity and capital resources, which stood at $294.8 million [12] - The company is well-prepared for stringent environmental regulations and believes it will continue to find opportunities in operations and profitability [43] - Management expressed concerns about the future of alternative fuels and the timeline for their adoption [90] Other Important Information - The company has a significant cash position of about $167 million and additional revolving credits of $140.4 million [52] - The average age of the fleet has stabilized at about 10.5 years due to the renewal strategy [12] Q&A Session Summary Question: Thoughts on the buyback program - Management confirmed the buyback program of up to $5 million is ongoing and will be executed opportunistically when the stock is undervalued [56][57] Question: Dividend policy and potential changes - Management indicated a desire for a steady dividend but emphasized the importance of investing in newbuilds and maintaining a strong company [58][60] Question: Mechanics of Capesize time charters and scrubber benefits - Management explained that scrubber benefits are significant, with expected revenues of $5-6 million over three years from scrubber-fitted vessels [64][66] Question: Installation timeline for scrubbers on remaining vessels - Management stated that one scrubber installation is expected before year-end, with additional installations planned for early 2023 [82][84] Question: Future fleet expansion and treatment of older vessels - Management confirmed a focus on acquiring younger vessels and monitoring the oldest vessels in the fleet, with a strategy centered on Phase 3 vessels [85][89]

(Translation of registrant's name into English) Apt. D11, Les Acanthes 6, Avenue des Citronniers, MC98000 Monaco (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 2022 SAFE BULKERS, INC. Form ...

Safe Bulkers Inc. (NYSE:SB) Q1 2022 Earnings Conference Call May 26, 2022 9:00 AM ET Company Participants Loukas Barmparis - President, Secretary and Director Konstantinos Adamopoulos - CFO and Director Polys Hajioannou - Chairman and CEO Conference Call Participants Eli Winski - Citigroup Ben Nolan - Stifel Chris Robertson - Jefferies Magnus Fyhr - H.C. Wainwright Operator Thank you for standing by, ladies and gentlemen, and welcome to the Safe Bulkers Conference Call to discuss the First Quarter 2022 Fina ...

Safe Bulkers Inc. SAFE BULKERS INC Q1 2022 EARNINGS PRESS RELEASE PRESENTATION MAY 2022 www.safebulkers.com 1 Safe Bulkers Inc. NYSE:SB Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of 1933, as amended, and in the Section 21E of the Securities 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 i ...

Apt. D11, Les Acanthes 6, Avenue des Citronniers, MC98000 Monaco (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March 2022 SAFE BULKERS, INC. (Translation of registrant's name into English) For ...