2020 Bulkers

2020 Bulkers Ltd. (2020) Commercial update and key information relating to the cash distribution for February 2025

Oslo, Norway, March 11, 2025

Commercial update:

In February 2025, the Company achieved average time charter equivalent rate

("TCE")* of approximately US$13,500 per day, gross, for the Company's vessels

trading on index-linked time charter including average daily scrubber benefits

of approximately US$1,900 per day. The Company had 165 operational days in

February 2025.

Bulk Shenzhen and Bulk Sydney, both trading on index-linked time charter in

February, had total off-hire for 3 days in February, due to ongoing 5 year

special surveys.

The Baltic 5TC Capesize Index averaged US$7,936 during February 2025.

*Average time charter equivalent rate, gross, ("TCE") when used by the

Company, means time charter revenues and voyage charter revenues excluding

address commission, less voyage charter expenses and adjusted from "load to

discharge" basis to "discharge to discharge" basis and divided by operational

days.

Cash distribution:

The Board has approved a cash distribution of US$0.01 per share for February

2025. The distribution will be made from the Company's Contributed Surplus

account which consists of previously paid in share premium transferred from

the Company's Share Premium account.

Key information:

Cash distribution amount: US$0.01 per share

Declared currency: US$

Date of approval: March 10, 2025

Last day including right: March 19, 2025

Ex-date: March 20, 2025

Record date: March 21, 2025

Payment date: On or about March 28, 2025

For further queries, please contact:

Magnus Halvorsen, Chairperson, 2020 Bulkers Ltd.

Telephone +47 920 20 111

About 2020 Bulkers Ltd.

2020 Bulkers has six Newcastlemax dry bulk vessels in operation. All vessels

are fitted with exhaust scrubber systems.

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