2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the dividend for April 2021

Hamilton, Bermuda, May 11, 2021

Commercial update:

In April 2021, the Company achieved average time charter equivalent earnings of approximately US$35,500 per day, gross. The Company’s five vessels trading on index-linked time charter earned approximately US$40,800 per day, gross, including average daily scrubber benefits of approximately US$1,800 per day. The Company’s two vessels trading on fixed time charter earned approximately US$29,600 per day, gross, including average daily scrubber benefits of approximately US$2,400 per day. Bulk Shenzhen earned approximately US$19,300 per day, gross.

The Baltic 5TC Capesize Index averaged US$29,798 during April 2021.

Dividend:

The Board has approved the payment of a dividend of US$0.21 per share for April 2021.

Key information:

Dividend amount: US$0.21 per share

Declared currency: US$

Date of approval: May 10, 2021

Last day including right: May 19, 2021

Ex-date: May 20, 2021

Record date: May 21, 2021

Payment date: On or about May 31, 2021

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 eight Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.