2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the dividend for February 2024

Oslo, Norway, March 7, 2024

Commercial update:

In February 2024, the Company achieved average time charter equivalent earnings of approximately US$27,700 per day, gross. The Company’s three vessels trading on index-linked time charter earned approximately US$31,700 per day, gross, including average daily scrubber benefits of approximately US$2,900 per day. The Company’s five vessels trading on fixed time charter earned approximately US$25,300 per day, gross, including average daily scrubber benefits of approximately US$3,900 per day.

The Baltic 5TC Capesize Index averaged US$21,557 during February 2024.

Dividend:

The Board has approved a dividend of US$0.10 per share for February 2024.

Key information:

Distribution amount: US$0.10 per share

Declared currency: US$

Date of approval: March 6, 2024

Last day including right: March 18, 2024

Ex-date: March 19, 2024

Record date: March 20, 2024

Payment date: On or about March 26, 2024

For further queries, please contact:

Magnus Halvorsen, Chairperson, 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.