2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the cash distribution for February 2022

Hamilton, Bermuda, March 8, 2022

Commercial update:

In February 2022, the Company achieved average time charter equivalent earnings of approximately US$23,800 per day, gross. The Company’s six vessels trading on index-linked time charter earned approximately US$19,800 per day, gross, including average daily scrubber benefits of approximately US$2,300 per day. The Company’s two vessels trading on fixed time charter earned approximately US$35,800 per day, gross, including average daily scrubber benefits of approximately US$4,000 per day.

The Baltic 5TC Capesize Index averaged US$13,350 during February 2022.

Cash Distribution:

The Board has approved a cash distribution of US$0.08 per share for February 2022. 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$0.08 per share

Declared currency: US$

Date of approval: March 7, 2022

Last day including right: March 17, 2022

Ex-date: March 18, 2022

Record date: March 21, 2022

Payment date: On or about March 29, 2022

For further queries, please contact:

Magnus Halvorsen, Chairman, 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.