2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the cash distribution for May 2023

Oslo, Norway, June 8, 2023

Commercial update:

In May 2023, the Company achieved average time charter equivalent earnings of approximately US$25,600 per day, gross. The Company’s five vessels trading on index-linked time charter earned approximately US$27,800 per day, gross, including average daily scrubber benefits of approximately US$4,400 per day. The Company’s three vessels trading on fixed time charter earned approximately US$21,800 per day, gross, including scrubber benefits.

The Baltic 5TC Capesize Index averaged US$17,773 during May 2023.

Cash Distribution:

The Board has approved a cash distribution of US$0.08 per share for May 2023. The distribution will be made from the Company’s Contributed Surplus account which consists of previously paid in share premium transferred from the Company’s Share Premium account.

Key information:

Distribution amount: US$0.08 per share

Declared currency: US$

Date of approval: June 7, 2023

Last day including right: June 21, 2023

Ex-date: June 22, 2023

Record date: June 23, 2023

Payment date: On or about June 30, 2023

For further queries, please contact:

Magnus Halvorsen, Chairperson, 2020 Bulkers Ltd.

Telephone +47 920 20 111

About 2020 Bulkers Ltd.

2020 Bulkers has eight Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.