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

Oslo, Norway, November 9, 2022

Commercial update:

In October 2022, the Company achieved average time charter equivalent earnings of approximately US$26,700 per day, gross. The Company’s five vessels trading on index-linked time charter earned approximately US$25,100 per day, gross, including average daily scrubber benefits of approximately US$2,600 per day. The Company’s three vessels trading on fixed time charter earned approximately US$28,900 per day, gross, including average daily scrubber benefits of approximately US$3,700 per day.

The Baltic 5TC Capesize Index averaged US$17,560 during October 2022.

Cash Distribution:

The Board has approved a cash distribution of US$0.10 per share for October 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$0.10 per share

Declared currency: US$

Date of approval: November 8, 2022

Last day including right: November 18, 2022

Ex-date: November 21, 2022

Record date: November 22, 2022

Payment date: On or about November 30, 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.