2020 Bulkers

Earnings Release • Aug 13, 2025

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

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

Oslo, Norway, August 13, 2025

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

unaudited financial and operating results for the three and six months ended

June 30, 2025.

Key events during the second quarter of 2025

- The Company reported net profit of US$5.8 million and EBITDA of

US$9.6 million for the second quarter of 2025.

- The Company achieved average time charter equivalent earnings of

approximately US$29,700 per day, gross, including realized gains on forward

freight agreements ("FFA").

- The Company declared total dividends of US$0.37 per share for the

months of April, May and June 2025.

- The Company completed drydocking for Bulk Sao Paulo and Bulk Santos

at a total cost of US$2.6 million.

- The Company realized gains on forward freight agreements of

approximately US$1.4 million.

Subsequent Events

- The Company entered into hedging transactions through FFAs

effectively securing an average fixed rate of approximately US$33,700 per day,

gross, for two vessels from August 1 to December 31, 2025.

- Achieved average time charter equivalent earnings for July 2025 of

approximately US$31,700, per day, gross.

- In August 2025, the Company declared a dividend of US$0.15 per share

for July 2025.

The Board of Directors Report, the Condensed Consolidated Financial Statements

and the Q2 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 and operator of large dry bulk vessels. The Company

has six Newcastlemax dry bulk vessels in operation.

August 13, 2025

Board of Directors

2020 Bulkers Ltd.

Oslo, Norway