2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the dividend for January, 2020

Hamilton, Bermuda, February 11, 2020

Commercial update:

In January 2020, the Company achieved average time charter equivalent earnings of approximately USD 16,700 per day, gross, including profit sharing for the scrubbers. The Company’s vessels trading on index-linked time charter earned approximately USD 9,600 per day, gross, as well as average daily scrubber benefits of USD approximately 4,300 per day. The Company’s vessels trading on fixed time charter earned approximately USD 20,900 per day, gross.

 The Baltic 5TC Capesize Index averaged USD 7,563 during January 2020.

Dividend:

The Board has approved the payment of a dividend of USD 0.03 per share for January, 2020.

Key information:

Dividend amount: USD 0.03 per share

Declared currency: USD

Date of approval: February 10, 2020

Last day including right: February 11, 2020

Ex-date: February 12, 2020

Record date: February 13, 2020

Payment date: On or about February 24, 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 six vessels in operation and two Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by May 2020. All vessels will be fitted with exhaust scrubber systems.