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

Hamilton, Bermuda, July 7, 2021

Commercial update:

In June 2021, the Company achieved average time charter equivalent earnings of approximately US$39,100 per day, gross. The Company’s six vessels trading on index-linked time charter earned approximately US$42,300 per day, gross, including average daily scrubber benefits of approximately US$2,800 per day. The Company’s two vessels trading on fixed time charter earned approximately US$29,700 per day, gross, including average daily scrubber benefits of approximately US$2,300 per day.

The Baltic 5TC Capesize Index averaged US$28,533 during June 2021.

Cash Distribution:

The Board has approved a cash distribution of US$0.24 per share for June 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.

Key information:

Distribution amount: US$0.24 per share

Declared currency: US$

Date of approval: July 6, 2021

Last day including right: July 16, 2021

Ex-date: July 19, 2021

Record date: July 20, 2021

Payment date: On or about July 29, 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.