Eagle Merger Update As previously announced, on December 11, 2023, we entered into a definitive agreement with Eagle Bulk Shipping Inc. (NYSE: EGLE) ("Eagle") (the "Eagle Merger Agreement") to combine in an all-stock merger (the "Eagle Merger"). Pursuant to the Eagle Merger Agreement, each share of common stock, par value $0.01 per share, of Eagle (the "Eagle Common Stock") issued and outstanding immediately prior to the effective time of the Eagle Merger (excluding Eagle Common Stock owned by Eagle, Star Bulk, Star Infinity Corp., a wholly owned subsidiary of Star Bulk, or any of their respective direct or indirect wholly owned subsidiaries) will be converted into the right to receive 2.6211 common shares, par value $0.01 per share, of Star Bulk (the "Star Bulk Common Stock"). The Eagle Merger is subject to approval by holders of Eagle Common Stock (the "Eagle shareholders"), receipt of applicable regulatory approvals and satisfaction of other customary closing conditions.