Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock, par value $0.01 per share ("Common Stock")^{F1,F2,F3,F4,F5,F6}	Mar 30, 2016	P$0	156,287	—	A	941,651	I	See Footnotes
Common Stock^{F1,F2,F3,F4,F5,F6}	Aug 4, 2016	P$0	6,911,987	—	A	7,853,638	I	See Footnotes
Common Stock^{F1,F3,F4,F5,F6}	Aug 10, 2016	P	7,564,290	$3.00	A	15,417,928	I	See Footnotes

Table II — derivative securities

No Table II lines on this filing.

Explanation of responses

F1Effective as of 5:00 p.m., Eastern Time, on August 4, 2016, the Company effected a 1-for-20 reserve stock split of its Common Stock. The reported amounts of Common Stock purchased and owned following each transaction give effect to such reverse stock split.
F2The shares of Common Stock reported herein were issued pursuant to the Second Lien Loan Agreement (the "Second Lien Loan Agreement"), dated as of March 30, 2016, among Eagle Bulk Shipping Inc. (the "Company"), certain lenders thereunder and Wilmington Savings Fund Society, FSB, which provides for a term loan to the Company in the amount of $60,000,000. No separate consideration is ascribed to such shares in the Second Lien Loan Agreement.
F3This Form 4 is being filed by OCM Opps EB Holdings, Ltd ("EB Holdings") with respect to (i) the 15,417,928 shares of the Issuer's common stock, par value $0.01 per share ("Common Stock") that may be deemed to be beneficially owned by the Reporting Persons (as defined below) and (ii) the 364 warrants exercisable for shares of Common Stock (the "Warrants"), all of which are directly owned by EB Holdings. This Form 4 is also being filed by each of (i) Oaktree Capital Management, L.P. ("Management") as the sole director of EB Holdings; (ii) Oaktree Holdings, Inc. ("Holdings, Inc.") as the general partner of Management; (iii) Oaktree Capital Group, LLC ("OCG") as the sole shareholder of Holdings, Inc.; and (iv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP", and, together with EB Holdings, Management, Holdings, Inc. and OCG, the "Reporting Persons" and each a "Reporting Person") as the duly elected manager of OCG. (cont'd on FN 4)
F4(cont'd from FN 3) Each Reporting Person disclaims beneficial ownership of the Common Stock reported herein except to the extent of their respective pecuniary interest therein and the filing of this Form 4 shall not be construed as an admission that any such Reporting Person is the beneficial owner of any Common Stock covered by this Form 4.
F5The members of OCGH GP are Howard S. Marks, Bruce A. Karsh, Jay S. Wintrob, John B. Frank, Sheldon M. Stone, Stephen A. Kaplan, and David M. Kirchheimer, who, by virtue of their membership interests in OCGH GP, may be deemed to share voting and dispositive power with respect to the shares of Common Stock held by EB Holdings. Each of the general partners, managing members, directors and managers described above disclaims beneficial ownership of any shares of common stock beneficially or of record owned by the Reporting Persons, except to the extent of any pecuniary interest therein.
F6Common Stock held directly by EB Holdings.