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

Oslo, Norway, October 10, 2023

Commercial update:

In September 2023, the Company achieved average time charter equivalent earnings of approximately US$21,700 per day, gross. The Company’s six vessels trading on index-linked time charter earned approximately US$21,300 per day, gross, including average daily scrubber benefits of approximately US$1,700 per day. The Company’s two vessels trading on fixed time charter earned approximately US$22,700 per day, gross, including scrubber benefits.

The Baltic 5TC Capesize Index averaged US$14,110 during September 2023.

Cash Distribution:

The Board has approved a cash distribution of US$0.05 per share for September 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$0.05 per share

Declared currency: US$

Date of approval: October 9, 2023

Last day including right: October 23, 2023

Ex-date: October 24, 2023

Record date: October 25, 2023

Payment date: On or about October 31, 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.