SAFE BULKERS INC

Ticker: SB CUSIP: Y7388L103 Class: Common Stock

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

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

Q2 2018
Shares 94,740 Value ($000) $322 Avg Close $3.32 Range $2.84 - $3.90
Q1 2018
Shares 94,740 Value ($000) $300 Avg Close $3.54 Range $2.93 - $4.00
Q4 2017
Shares 94,740 Value ($000) $306 Avg Close $3.21 Range $2.67 - $3.79