SAFE BULKERS INC

Ticker: SB CUSIP: Y7388L103 Class: Common Stock

HOURGLASS CAPITAL, LLC's Holding History (CIK: 0001442573)

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

Q4 2015
Shares 315,988 Value ($000) $256 Avg Close $2.09 Range $0.80 - $3.75
Q3 2015
Shares 1,029,825 Value ($000) $2,842 Avg Close $3.33 Range $2.70 - $4.13
Q2 2015
Shares 1,029,825 Value ($000) $3,316 Avg Close $3.48 Range $2.99 - $3.87
Q1 2015
Shares 829,825 Value ($000) $2,979 Avg Close $3.61 Range $3.13 - $4.07
Q4 2014
Shares 654,487 Value ($000) $2,559 Avg Close $5.02 Range $3.77 - $6.77
Q3 2014
Shares 682,124 Value ($000) $4,543 Avg Close $8.06 Range $6.65 - $9.92
Q2 2014
Shares 409,504 Value ($000) $3,997 Avg Close $8.70 Range $7.76 - $10.18
Q1 2014
Shares 341,349 Value ($000) $3,250 Avg Close $9.93 Range $8.65 - $11.48