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

Hamilton, Bermuda, October 8, 2020

Commercial update:

In September 2020, the Company achieved average time charter equivalent earnings of approximately US$21,300 per day, gross. The Company’s two vessels trading on index-linked time charter earned approximately US$27,000 per day, gross, including average daily scrubber benefits of approximately US$1,400 per day. The Company’s six vessels trading on fixed time charter earned approximately US$19,400 per day, gross, including average daily scrubber benefits of approximately US$1,200 per day for two of the vessels.

The Baltic 5TC Capesize Index averaged US$18,071 during September 2020.

Cash Distribution:

The Board has approved a cash distribution of US$0.06 per share for September 2020. 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 (reference is made to the 2020 Annual General Meeting held August 10, 2020 where it was approved to reduce the Company’s Share Premium account by US$15 million and to increase the Company’s Contributed Surplus account by the same amount).

Key information:

Distribution amount: US$0.06 per share

Declared currency: US$

Date of approval: October 7, 2020

Last day including right: October 9, 2020

Ex-date: October 12, 2020

Record date: October 13, 2020

Payment date: On or about October 30, 2020

For further queries, please contact:

Magnus Halvorsen, Chief Executive Officer, 2020 Bulkers Management AS

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.