2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the cash distribution for January 2021

Hamilton, Bermuda, February 9, 2021

Commercial update:

In January 2021, the Company achieved average time charter equivalent earnings of approximately US$27,400 per day, gross. The Company’s six vessels trading on index-linked time charter earned approximately US$30,000 per day, gross, including average daily scrubber benefits of approximately US$1,200 per day. Bulk Shanghai earned approximately US$19,200 per day, gross, including average daily scrubber benefits of approximately US$1,200 per day. Bulk Shenzhen earned approximately US$19,800 per day, gross.

The Baltic 5TC Capesize Index averaged US$21,678 during January 2021.

Cash Distribution:

The Board has approved a cash distribution of US$0.13 per share for January 2021. 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$0.13 per share

Declared currency: US$

Date of approval: February 8, 2021

Last day including right: February 18, 2021

Ex-date: February 19, 2021

Record date: February 22, 2021

Payment date: On or about March 3, 2021

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.