2020 Bulkers

2020 Bulkers Ltd. (2020) Commercial update and key information relating to the dividend for March 2025

Oslo, Norway, April 8, 2025

Commercial update:

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

("TCE")* of approximately US$29,600 per day, gross, for the Company's vessels

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

of approximately US$1,300 per day. The Company had 126 operational days in

March 2025.

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

March, had off-hire for 21 and 30 days in March, respectively, due to

completion of 5 year special surveys. Bulk Sao Paulo, trading on index-linked

time charter in March, had total off-hire for 9 days in March, due to ongoing

5 year special survey which is expected to complete on April 17, 2025. The

extended off-hires are due to yard congestion and long sailing distances from

discharge ports to yard in China.

The Baltic 5TC Capesize Index averaged US$20,802 during March 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.

Dividend:

The Board has approved a dividend of US$0.06 per share for March 2025.

Key information:

Dividend amount: US$0.06 per share

Declared currency: US$

Date of approval: April 7, 2025

Last day including right: April 14, 2025

Ex-date: April 15, 2025

Record date: April 16, 2025

Payment date: On or about April 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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