2020 Bulkers Ltd. (2020) – Issuance of Consideration Shares and Private Placement Shares

Reference is made to the stock exchange announcement published by 2020 Bulkers Ltd. (the “Company“) on 30 September 2026 relating to the approval by the Board of Directors of the Company of the issue of 1,151,797,885 new shares in the Company (the “New Shares”).

The New Shares have been issued today.

Following the share issuance, 2020 Bulkers Ltd. has an issued share capital of US$11,747,287.91 divided into 1,174,728,791 common shares of par value US$0.01 each.

The New Shares have been issued on a separate, temporary ISIN BMG9156K1190. As a result, the New Shares are not fungible with, and will not be tradable on Euronext Oslo Børs together with, the Company’s existing common shares registered under ISIN BMG9156K1018 until a listing prospectus has been approved by the Norwegian Financial Supervisory Authority and published by the Company (the “Prospectus“). Following approval and publication of the Prospectus, the New Shares are expected to be converted into, and become fungible and tradable together with, the Company’s existing common shares under ISIN BMG9156K1018.

The New Shares are intended to be admitted to trading on Euronext NOTC as soon as practically possible following the date hereof.

The New Shares are issued in connection with the completion of the US$175 million private placement and the partial completion of the recently announced acquisition of AHTS AS and other companies. The Company will publish a separate update on the ongoing transactions.

About 2020 Bulkers Ltd.:

2020 Bulkers Ltd. is a limited liability company incorporated in Bermuda on September 26, 2017. The Company’s shares are traded on Euronext Oslo Børs under the ticker “2020”. The Company owns and operates a fleet of large Anchor Handling Tug Supply vessels.