FIRST AMENDED AND RESTATED BYLAWS
SAFE BULKERS, INC.
THE MARSHALL ISLANDS BUSINESS CORPORATIONS ACT ("BCA")
ADOPTED MAY 8, 2008
Offices and Record
SECTION 1.01. Address; Registered Agent. The registered address of Safe Bulkers, Inc. (the “Corporation”) in
the Republic of the Marshall Islands is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands
MH96960. The name of the Corporation’s registered agent at such address is The Trust Company of the Marshall Islands, Inc.
SECTION 1.02. Other Offices. The principal place of business of the Corporation shall be at such place or places
as the Board of Directors of the Corporation (the “Board of Directors”) shall from time to time determine. The Corporation may
also have an office or offices at such other places within or outside of the Republic of the Marshall Islands, as the Board of
Directors may from time to time appoint or as the business of the Corporation may require.
SECTION 2.01. Corporate Seal. The Board of Directors may adopt a corporate seal. The corporate seal shall
consist of a die bearing the name of the Corporation, the year of its organization, and the inscription, “Marshall Islands.” Said
seal may be used by causing it or a facsimile thereof to be impressed or affixed or reproduced or otherwise.
SECTION 3.01. Location of Meetings. Meetings of stockholders shall be held at any place within or outside the
Republic of the Marshall Islands designated by the
Board of Directors. In the absence of any such designation, stockholders’ meetings shall be held at the principal executive
office of the Corporation.
SECTION 3.02. Notice of Stockholders’ Meetings. Whenever stockholders are required or permitted to take any
action at a meeting, a written notice of the meeting shal