2020 Bulkers - Earnings Release 2025

2020 Bulkers Ltd. (2020) - Results for the first quarter of 2025

Oslo, Norway, May 7, 2025

2020 Bulkers Ltd. ("2020 Bulkers" or the "Company") today announced its

unaudited financial and operating results for the three months ended March 31,

Key events during the first quarter of 2025

- The Company reported net profit of US$0.2 million and EBITDA of

US$4.3 million for the first quarter of 2025.

- The Company achieved average time charter equivalent earnings of

approximately US$19,000 per day, gross.

- The Company declared total dividends and cash distributions of

US$0.10 per share for the months of January, February and March 2025.

- Completed drydocking for Bulk Shenzhen and Bulk Sydney at a total

cost of US$2.3 million.

Subsequent Events

- Achieved average time charter equivalent earnings for April 2025 of

approximately US$27,100, per day, gross.

- In May 2025, the Company declared a dividend of US$0.10 per share for

April 2025.

- Completed drydocking for Bulk Sao Paulo at a cost of US$1.2 million.

- Realized gain on forward freight agreements of approximately US$1.4

million for Q2 2025.

The Board of Directors Report, the Condensed Consolidated Financial Statements

and the Q1 2025 Presentation are available in the enclosed files.

About 2020 Bulkers Ltd.

2020 Bulkers Ltd. is a limited liability company incorporated in Bermuda on 26

September 2017. The Company's shares are traded on Oslo Børs under the ticker

"2020". 2020 Bulkers is an owner of six large dry bulk vessels.

May 7, 2025

Board of Directors

2020 Bulkers Ltd.

Oslo, Norway

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