Euronext Athens Listing — Frequently Asked Questions

The Listing is the admission of the Company’s Common Shares to trading on Euronext Athens. The Common Shares traded on Euronext Athens are the same class of common shares as those traded on Nasdaq; the Listing does not create a separate class of shares.

The Common Shares are primarily listed and traded on the Nasdaq Global Select Market (“Nasdaq”), which will not be affected by the Listing.

By establishing the Listing on Euronext Athens, the Company aims to:

• Broaden access to its Common Shares for European institutional and retail investors, including investors and euro-denominated funds that may prefer to trade or hold securities through European market infrastructure;
• Provide access to an additional trading venue and a broader, more diversified investor base;
• Increase the Company’s visibility among European investors and within the European maritime and shipping sector; and
• Expand the hours during which shareholders may trade the Common Shares across the two markets.

The Company intends to provide investors in both markets with access to the same core Company information and to maintain consistent investor communication across the two trading venues, subject to applicable legal and regulatory requirements.

No. Star Bulk is incorporated in the Republic of the Marshall Islands and maintains its principal executive office in Greece. The Listing on Euronext Athens does not involve any change to the Company’s place of incorporation, headquarters or tax domicile.

Yes. The Company’s Common Shares will continue to be primarily listed and traded on Nasdaq and will also be admitted to trading on Euronext Athens. Shareholders who wish to continue trading their Common Shares on Nasdaq (holding and settling through the Depository Trust Company (“DTC”)) are not required to take any action as a result of the Listing.

No impact on the existing Nasdaq trading and settlement arrangements is expected as a result of the Listing. The Common Shares will continue to trade on Nasdaq and settle through DTC, through the existing U.S. market infrastructure.

Following the Listing, the Common Shares are expected to trade on Euronext Athens under the same symbol, “SBLK”, and ISIN, MHY8162K2046, as Nasdaq.

The Common Shares will continue to trade on Nasdaq in U.S. dollars and, following the Listing, are expected to trade on Euronext Athens in euros.

The ISIN does not change as a result of the Euronext Athens listing.

Yes. The Common Shares traded on Nasdaq and Euronext Athens represent the same class of Star Bulk’s Common Shares, have the same ISIN and carry the same economic and voting rights. The Euronext Athens Listing does not create an ADR, other form of depositary receipt or a separate class of security.

Not necessarily. The Common Shares will trade in U.S. dollars on Nasdaq and in euros on Euronext Athens, and the two markets have different trading hours, liquidity and settlement arrangements. As a result, prices may differ from time to time after taking into account the prevailing EUR/USD exchange rate. Market participants may seek to take advantage of price differences, but there can be no assurance that prices on the two markets will remain aligned.

Generally, yes, provided the Common Shares are repositioned into the settlement system used by the market on which you wish to sell them. Repositioning is an operational process carried out through brokers, custodians and the relevant settlement infrastructure; it is not automatic or instantaneous. Shareholders should confirm the required steps, timing and any applicable fees with their relevant intermediaries before placing a cross-market trade. The Common Shares admitted to trading on Euronext Athens are the same class of securities that trade on Nasdaq and are fully fungible with them. Subject to the repositioning mechanics described in Questions 15 to 17, a shareholder may trade the same Common Shares on either market - in U.S. dollars on Nasdaq (holding and settling through DTC) or in euros on Euronext Athens (holding and settling through Euronext Securities Athens).

The initial reference price for the Common Shares on Euronext Athens is expected to be based on the closing price of the Common Shares on Nasdaq on the trading day immediately preceding the commencement of trading on Euronext Athens, converted from U.S. dollars into euros using the applicable EUR/USD reference exchange rate published by the European Central Bank. The actual trading price on Euronext Athens will thereafter be determined by market supply and demand.

No. The Listing will not affect the number of Common Shares held by each shareholder.

The Common Shares are freely transferable, with no transfer restrictions contained in the Company’s Articles of Incorporation. However, shareholders who are “affiliates” of the Company within the meaning of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and holders of Common Shares acquired in private transactions, may be subject to resale limitations under Rule 144 and related provisions of the Securities Act.

No. Holders of Common Shares do not have preemptive rights to subscribe to any of the Company’s securities.

Following the Listing, the Common Shares may be traded and settled through two parallel market infrastructures. Shareholders who wish to continue trading their Common Shares on Nasdaq (holding and settling through DTC) do not need to take any action:

• For the Common Shares traded on Nasdaq: The Common Shares will continue to be held and settled in the usual manner through DTC in the United States, as is currently the case.
• For the Common Shares traded on Euronext Athens: Shareholders who wish to trade on Euronext Athens may hold and settle their Common Shares through Euronext Securities Athens, the central securities depository for securities admitted to trading on Euronext Athens. The market infrastructure provides a link that facilitates the repositioning of Common Shares between the U.S. and the Greek settlement systems.

Shareholders who do not hold their Common Shares through a Euronext Securities Athens participant account will need to take steps to arrange such holding in order to be able to trade on Euronext Athens.

To trade on Euronext Athens, shareholders will need to hold their Common Shares through an account connected to Euronext Securities Athens. In practice, shareholders should establish a relationship with an authorized Euronext-Athens broker and open and maintain a securities account in the Dematerialized Securities System operated by Euronext Securities Athens.

Repositioning Common Shares between the U.S. and Greek settlement systems may take time, and shareholders are therefore encouraged to make the necessary arrangements with an authorized Euronext Securities Athens participant well in advance of when they intend to trade on Euronext Athens.

If you are in any doubt about what action you should take, you should consult your broker, custodian or financial advisor.

To reposition Common Shares from DTC to Euronext Securities Athens for trading on Euronext Athens, shareholders should coordinate delivery and receipt instructions through their U.S. and Euronext Athens brokers or custodians. The precise steps may vary by intermediary and will generally include the following:

• Instruct your U.S. broker or custodian to deliver your Common Shares from DTC with the request that they be moved to your Euronext Securities Athens account through an authorized Euronext Securities Athens participant; and
• Instruct your Euronext Securities Athens participant or Greek broker/custodian to formally receive the Common Shares into your Euronext Securities Athens DSS account.

Failure to complete both steps may result in the transfer being rejected or otherwise not being completed. Please consult your broker or custodian for further guidance on the specific mechanics applicable to your holding.

To reposition Common Shares from Euronext Securities Athens to DTC for Nasdaq trading, shareholders should coordinate delivery and receipt instructions through their U.S. and Euronext Athens brokers or custodians. The precise steps may vary by intermediary and will generally include the following:

• Instruct your Euronext Securities Athens participant or Greek broker/custodian to deliver your Common Shares from your Euronext Securities Athens DSS account with the request that they be transferred to DTC; and
• Instruct your U.S. broker or custodian to formally receive the Common Shares into your DTC account.

Failure to provide matching instructions may result in the repositioning being delayed, rejected or not completed. Processing times and fees may vary. Please consult your broker or custodian for further guidance.

Yes. Nasdaq currently requires trades to be settled through DTC on a T+1 basis, i.e., one business day after the trade date, whereas Euronext Athens requires trades to be settled through Euronext Securities Athens on a T+2 basis, i.e., two business days after the trade date. Shareholders should take this difference into account when planning cross-market repositioning or trading and in connection with corporate actions such as dividends.

From October 11, 2027, Euronext Athens and all central securities depositories in the European Union are also expected to require trades to be settled on a T+1 basis, in accordance with Regulation (EU) 909/2014, as amended by Regulation (EU) 2025/2075.

No. The declaration and payment of dividends remain at the discretion of the Company’s Board of Directors. Following the Listing, holders of Common Shares as of the relevant record date will be entitled to receive any dividends approved for distribution, regardless of whether their Common Shares are held through DTC or Euronext Securities Athens.

Dividends declared by the Company will be denominated in U.S. dollars. Shareholders holding Common Shares through DTC will receive dividends in U.S. dollars.

Shareholders holding Common Shares through Euronext Securities Athens are expected to receive dividends payments in euros following the applicable currency conversion through the Euronext Securities Athens market infrastructure. A single conversion rate for all shareholders will be used on each dividend payment in euros.

Past dividend payments are not a guarantee of future dividends. The declaration and payment of dividends in the future will be determined by the Board of Directors in its discretion and subject to applicable provisions of the Marshall Islands Business Corporations Act.

The Company expects to continue to declare and pay dividends in U.S. dollars. For shareholders who hold their Common Shares through DTC, no action is required and dividend payments will proceed as previously. For shareholders who hold their Common Shares through Euronext Securities Athens, dividends will be paid in euros to the relevant Euronext Securities Athens participant after applicable currency conversion arrangements. The payment will be transmitted through intermediaries, including DTC, and there may be additional time required for receipt following the payment date, including due to time zone considerations.

Shareholders who hold their Common Shares through Euronext Securities Athens may elect to receive the dividend payment in U.S. dollars by instructing their respective Euronext Securities Athens participant or Greek broker/custodian at least three business days prior to the relevant record date set for each such dividend payment. Such shareholders will receive the dividend payment in U.S. dollars directly from the Company. Additional information may be sought from the shareholders by the relevant Euronext Securities Athens participant or Greek broker/custodian in such cases.

The Common Shares traded on Nasdaq and Euronext Athens (held and settled in DTC and Euronext Securities Athens, respectively) will have the same record date for dividend payments. However, Nasdaq currently operates on a T+1 settlement cycle and Euronext Athens currently operates on a T+2 settlement cycle. For so long as there continues to be a difference in the settlement cycles, the ex-dividend dates will differ between markets. The ex-dividend date for Euronext Athens is expected to be one business day earlier than the ex-dividend date for Nasdaq. See also the answer to Question 18.

No. Each outstanding Common Share continues to entitle its holder to one vote on all matters submitted to a vote of shareholders. The Listing does not alter the voting rights attached to the Common Shares.

However, the manner in which a shareholder exercises their voting rights may depend on the internal procedures of the settlement system or custodian chain through which the Common Shares are held. Detailed instructions on how to vote will be included in the materials distributed in connection with each general meeting of shareholders.

Shareholders who hold through Euronext Securities Athens should consult their Euronext Securities Athens participant or Greek broker/custodian regarding the applicable procedures for exercising voting rights.

As a “third country issuer” under Greek law 3556/2007, transposing the EU Transparency Directive into national law, the Company may be entitled to rely on certain exemptions or equivalence arrangements in respect of periodic reporting and other ongoing disclosure obligations. This may result in differences in the frequency, form or detail of the Company’s disclosures compared to Greek-incorporated issuers and differences in certain corporate governance practices.

The Company will continue to comply with its existing disclosure obligations as a Nasdaq-listed issuer under applicable U.S. securities laws and Nasdaq rules.

Yes, shareholders that exceed certain thresholds or engage in certain transactions will be required to disclose their share positions in the Common Shares to the U.S. Securities and Exchange Commission (the “SEC”) and/or the Hellenic Capital Market Commission (the “HCMC”).

The applicable reporting regimes in the United States is not expected to change as a result of the Listing and will continue to apply. For example, anyone required to submit a Schedule 13D or Schedule 13G to the SEC would be expected to continue to be subject to such requirement following the Listing. The reporting regime governed by Sections 13(d) and 13(g) of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), is expected to continue to apply to the shareholder’s beneficial ownership of Common Shares globally, regardless of whether Common Shares are held in DTC or in Euronext Securities Athens, or both.

Pursuant to Articles 9, 10, 11 and 14 of Law 3556/2007, as currently in force, any shareholder or other person who acquires or disposes of Common Shares or voting rights in the Company, and as a result of such acquisition or disposal the percentage of voting rights held reaches, exceeds or falls below the thresholds of 5%, 10%, 15%, 20%, 25%, 1/3, 50% or 2/3 of the Company’s total voting rights, is personally obligated to notify both the Company and the HCMC as soon as possible and, in any event, no later than three trading days following the date on which the shareholder became aware of the transaction or the date on which it should have become aware. The same obligation applies to any person holding more than 10% of voting rights if a subsequent change equals or exceeds 3% of the total voting rights, and to persons who, without being shareholders, are otherwise entitled to acquire, dispose of or exercise voting rights in the Company. Notifications must be submitted using the prescribed TR-1 form, submitted to the HCMC at tr1@cmc.gov.gr and info@cmc.gov.gr and to the Company. The Company will publish the information received within two trading days of receipt. Upon listing of the Common Shares on Euronext Athens, the notification obligations set forth in Law 3556/2007, as described above, will apply regardless of whether Common Shares are held through DTC or Euronext Securities Athens. Failure to comply may result in penalties imposed by the HCMC.

In case of doubt, please contact your broker and/or legal counsel for additional information on your disclosure obligations with respect to the Common Shares.

If you have questions regarding your shareholding, the settlement arrangements, or the steps you need to take in connection with the Euronext Athens listing, you should contact your broker, custodian or financial advisor. For general questions about the Company, please visit the Company’s investor relations page at https://www.starbulk.com/gr/en/ir-overview/ or send an email to ir@starbulk.com.