2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the dividend for November, 2019

Hamilton, Bermuda, December 3, 2019

Commercial update:

The Company achieved average time charter equivalent earnings of USD 24,466 per day in November 2019 of which the Company’s vessels trading on index-linked time charter earned USD 28,594 per day and the Company’s vessels on fixed time charter earned USD 20,888 per day.

The Baltic 5TC Capesize Index averaged USD 21,254 during November 2019.

Dividend:

The Board has today approved the payment of a dividend of USD 0.08 per share for November, 2019.

Key information:

Dividend amount: USD 0.08 per share

Declared currency: USD

Date of approval: December 3, 2019

Last day including right: December 5, 2019

Ex-date: December 6, 2019

Record date: December 9, 2019

Payment date: On or about December 17, 2019

For further queries, please contact:

Magnus Halvorsen, Chief Executive Officer,

Telephone +47 920 20 111

About 2020 Bulkers Ltd.:

2020 Bulkers has four vessels in operation and four Newcastlemax drybulk 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.