Eagle Bulk Shipping Inc.: M&A transaction — Eagle Bulk completes merger with Star Bulk; shareholders receive 2.6211 shares per share

Supplemental Indenture for Convertible Notes In connection with the consummation of the Merger, Eagle, Star Bulk and Deutsche Bank Trust Company Americas, as trustee (the “ Trustee ”), entered into a First Supplemental Indenture, dated as of April 9, 2024 (the “ Supplemental Indenture ”), which amends and supplements the Indenture, dated as of July 29, 2019, by and between Eagle and the Trustee (the “ Base Indenture ” and as amended by the Supplemental Indenture, the “ Indenture ”), governing Eagle’s 5.00% Convertible Senior Notes due 2024 (the “ Notes ”).

the directors of Merger Sub as of immediately prior to the Effective Time, which consisted of Simos Spyrou and Christos Begleris, became the directors of Eagle as the surviving corporation.

the officers of Merger Sub as of immediately prior to the Effective Time, which consisted of Simos Spyrou and Christos Begleris, became the officers of Eagle as the surviving corporation.

the officers of Merger Sub as of immediately prior to the Effective Time, which consisted of Simos Spyrou and Christos Begleris, became the officers of Eagle as the surviving corporation.

the directors of Merger Sub as of immediately prior to the Effective Time, which consisted of Simos Spyrou and Christos Begleris, became the directors of Eagle as the surviving corporation.

the parties agreed that Mr. Vogel’s final date of employment would be the date of the closing of the Merger and that his termination of employment on the date of the closing of the Merger would constitute a termination by Mr. Vogel for Good Reason

Pursuant to the terms of the Merger Agreement, at the Effective Time, the certificate of incorporation and bylaws of Merger Sub became the certificate of incorporation and bylaws of Eagle as the surviving corporation.

Stock held by Eagle, Star Bulk, Merger Sub or any of their respective direct or indirect wholly owned subsidiaries) will be automatically converted into the right to receive 2.6211 common shares (the “ Exchange Ratio ”) of Star Bulk (the “ Star Bulk Common Stock ”) and any cash payable in respect of fractional shares. Each Eagle restricted share and Eagle

In connection with the consummation of the Merger, Eagle, Star Bulk and Deutsche Bank Trust Company Americas, as trustee (the “ Trustee ”), entered into a First Supplemental Indenture, dated as of April 9, 2024 (the “ Supplemental Indenture ”), which amends and supplements the Indenture, dated as of July 29, 2019, by and between Eagle and the Trustee (the “ Base Indenture ” and as amended by the Supplemental Indenture, the “ Indenture ”), governing Eagle’s 5.00% Convertible Senior Notes due 2024 (the “ Notes ”).