Scorpio Bulkers Inc. Announces the Sale of an Ultramax Vessel

Monaco - Jan. 28, 2021

Scorpio Bulkers Inc. (NYSE: SALT) (the “Company”) announced today that the Company has entered into an agreement with Eagle Bulk Shipping Inc. (“Eagle Bulk”) to sell SBI Virgo, an Ultramax bulk carrier built in 2017, for $15 million of cash and a warrant for 212,315 common shares of Eagle Bulk.

Delivery of the vessel is expected to take place in the second quarter of 2021.

About Scorpio Bulkers Inc.
Scorpio Bulkers Inc. announced on August 3, 2020, its intention to transition away from the business of dry bulk commodity transportation and towards marine-based renewable energy including investing in the next generation of wind turbine installation vessels.

The Company intends to sell or have commitments to sell its remaining wholly-owned or finance leased dry bulk vessels during the first quarter of 2021.

Additional information about the Company is available on the Company’s website www.scorpiobulkers.com, which is not a part of this press release.

Scorpio Bulkers Inc. press release