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horizonship.com

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shipsales.com

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danaos.com

Details Serious Concern with the Board’s Decision to Effect a Debt-Financed Share Repurchase and Institute a Poison Pill Believes that the Board’s Recent Decisions Expose Shareholders to Unnecessary Financial and Strategic Risks Contends the Board’s Decisions do not Benefit All Shareholders Danaos Corporation (“Danaos,” “we,” or “us”) (NYSE:DAC), one of the world’s largest independent owners of containerships and the largest shareholder of Eagle Bulk Shipping, Inc. (the “Company” or “Eagle Bulk”) (NYSE:EGLE) with ownership of approximately 16.7% of the outstanding shares, has issued a letter to the Board of Directors of Eagle Bulk (the “Board”) in response to the Company’s repurchase of Oaktree Capital’s (“Oaktree”) 28% stake in the Company and unilateral adoption of a poison pill. The full text of the letter issued to the Board follows: A LETTER TO THE BOARD OF DIRECTORS OF EAGLE BULK SHIPPING, INC. (EGLE) June 26, 2023 Dear Members of the Board, Danaos Corporation (“Danaos” or “we”)