2020 Bulkers Ltd. (2020) – Commencement of employment and grant of share options

Oslo, Norway, September 2, 2024

2020 Bulkers is pleased to announce that Lars-Christian Svensen has commenced as Chief Commercial Officer on September 1, 2024, as well as Chief Commercial Officer of Himalaya Shipping Ltd, under the management agreement between 2020 Bulkers Management AS and Himalaya Shipping Ltd.

The Board of Directors of 2020 Bulkers has approved a long-term incentive plan which includes a grant of 80,000 share options, each of which gives the holder the right to purchase one share in the Company at an exercise price of US$16.7 per share. The exercise price will be reduced by any dividends and cash distributions paid. The share options will vest equally over a three year period, commencing one year from date of grant and will expire five years after the grant date.

The options have been granted to employees of the Company, including the following persons discharging managerial responsibilities (PDMRs) as defined by the Market Abuse Regulation:

Lars-Christian Svensen (CCO of 2020 Bulkers Management AS), was granted 30,000 share options, following which he holds 30,000 share options in 2020 Bulkers Ltd.

Vidar Hasund (CFO of 2020 Bulkers Management AS), was granted 20,000 share options, following which he holds 20,000 share options and 90,000 shares in 2020 Bulkers Ltd.

Following the grants, the total number of outstanding share options in the Company is 140,000.

For further queries, please contact:

Magnus Halvorsen, Chairperson, 2020 Bulkers Ltd.

Telephone +47 920 20 111

About 2020 Bulkers Ltd.

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