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Eagle Bulk Shipping Inc. Reports First Quarter Net Income of $9.8 Million Eagle Bulk Shipping Inc., one of the world’s largest owner-operators within the Supramax / Ultramax drybulk segment, today reported financial results for the three months ended March 31, 2021. Highlights for the Quarter: o TCE Revenue (1) for the quarter equated to $60.3 million o Achieved TCE (1) of $15,124/day for the quarter, an increase of 50% year-on-year • Realized a net income of $9.8 million, or $0.84 per basic and diluted share • Adjusted EBITDA(1) of $31.5 million • Closed on a secured short term revolving credit facility for $35.0 million • Took delivery of three modern scrubber-fitted SDARI-64 Ultramax bulkcarriers Subsequent Events:

Eteläuomen läiGary vogelSupramax ultramaxEagle bulk shipping incStock split of the companyFleet developmentBulk shipping incNew ultraco debt facilityEagle bulkReverse stock splitNorwegian bond debtNew ultraco debtNorwegian bondConvertible bondSuper senior facilityFull report