SAFE BULKERS INC

Ticker: SB CUSIP: Y7388L103 Class: Common Stock

FAIRVIEW CAPITAL INVESTMENT MANAGEMENT, LLC's Holding History (CIK: 0001056549)

Note: Option positions (PUT/CALL) are excluded.

Q3 2015

Shares 15,000 Value ($000) $41 Avg Close $3.33 Range $2.70 - $4.13

Q2 2015

Shares 15,000 Value ($000) $48 Avg Close $3.48 Range $2.99 - $3.87

Q1 2015

Shares 15,000 Value ($000) $54 Avg Close $3.61 Range $3.13 - $4.07

Q4 2014

Shares 15,000 Value ($000) $59 Avg Close $5.02 Range $3.77 - $6.77

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2015	15,000	$41	$3.33	$2.70 - $4.13
Q2 2015	15,000	$48	$3.48	$2.99 - $3.87
Q1 2015	15,000	$54	$3.61	$3.13 - $4.07
Q4 2014	15,000	$59	$5.02	$3.77 - $6.77