2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the dividend for December 2023

Oslo, Norway, January 9, 2024

Commercial update:

In December 2023, the Company achieved average time charter equivalent earnings of approximately US$37,700 per day, gross. The Company’s four vessels trading on index-linked time charter earned approximately US$50,500 per day, gross, including average daily scrubber benefits of approximately US$3,000 per day. The Company’s four vessels trading on fixed time charter earned approximately US$24,700 per day, gross, including average daily scrubber benefits of approximately US$2,800 per day.

The Baltic 5TC Capesize Index averaged US$37,333 during December 2023.

Dividend:

The Board has approved a dividend of US$0.21 per share for December 2023.

Key information:

Distribution amount: US$0.21 per share

Declared currency: US$

Date of approval: January 8, 2024

Last day including right: January 22, 2024

Ex-date: January 23, 2024

Record date: January 24, 2024

Payment date: On or about January 31, 2024

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.