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

Oslo, Norway, February 7, 2024

Commercial update:

In January 2024, the Company achieved average time charter equivalent earnings of approximately US$27,100 per day, gross. The Company’s three vessels trading on index-linked time charter earned approximately US$32,100 per day, gross, including average daily scrubber benefits of approximately US$3,700 per day. The Company’s five vessels trading on fixed time charter earned approximately US$24,100 per day, gross, including average daily scrubber benefits of approximately US$2,800 per day.

The Baltic 5TC Capesize Index averaged US$20,565 during January 2024.

Dividend:

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

Key information:

Distribution amount: US$0.10 per share

Declared currency: US$

Date of approval: February 6, 2024

Last day including right: February 20, 2024

Ex-date: February 21, 2024

Record date: February 22, 2024

Payment date: On or about February 29, 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.