2020 Bulkers Ltd. (2020): Changes to Board of Directors and Management

Hamilton, Bermuda, December 31, 2021

2020 Bulkers Ltd. (the "Company") announces the appointment of Mr. Magnus Halvorsen as a director of the Company to fill a vacancy and his appointment as Chairperson of the Board on December 30, 2021. Following the appointment as Chairperson of the Board, Mr. Halvorsen has resigned as CEO of 2020 Bulkers Management AS, effective as of February 1, 2022. Mr. Halvorsen has held the position as CEO of 2020 Bulkers Management AS since January 2019, after having served as the Company’s Chairperson from its inception in September 2017.

Mr. Jens Martin Jensen has resigned as a Director of the Company effective December 30, 2021. The Board would like to thank Mr. Jensen for his very valuable contributions to the Company, having served as a Director since the Company’s inception.

2020 Bulkers further announces the appointment of Herman Billung as CEO of 2020 Bulkers Management AS, effective as of February 1, 2022. Mr. Billung will also be appointed functioning CEO of Himalaya Shipping Ltd, under the management agreement between 2020 Bulkers Management AS and Himalaya Shipping Ltd.  Mr. Billung has a 31 year career in international shipping. He held various positions within the Torvald Klaveness Group from 1989 – 1991. From 1994 – 1998 he served as Managing Director of Frapaco Shipping Ltd. From 1998 – 2005. Mr Billung returned to the Torvald Klaveness group as Managing Director of Maritime Services. From 2005 – 2016 he acted as CEO of Golden Ocean Management AS, prior to establishing Songa Bulk in 2016 with Arne Blystad as a main shareholder. In 2018 Songa Bulk was sold to Star Bulk Carriers Corp. where Mr. Billung has served as Senior Vice President and General Manager. Mr. Billung is a Norwegian Citizen and a resident of Norway.

For further queries, please contact:

Magnus Halvorsen, Chairperson, 2020 Bulkers Ltd

Telephone +47 920 20 111