2020 Bulkers

M&A Activity • Oct 20, 2025

2020 Bulkers Ltd. (2020) Sale of Bulk Sao Paulo

2020 Bulkers Ltd. (2020) Sale of Bulk Sao Paulo

Oslo, Norway, October 20, 2025

2020 Bulkers (the "Company") announces that it has signed an agreement to sell

the 2020 built Newcastlemax vessel, Bulk Sao Paulo, to an unaffiliated third

party for a total consideration of US$72.75 million. The sale is subject to

certain closing conditions, in line with industry standards.

The Company will retain the vessels' operating cashflows until closing of the

transaction, which is agreed to take place during Q1 2026.

The Company expects to recognize a net book gain of approximately US$29

million upon completion of the transaction.

The Board of Directors of the Company will, subject to completion of the sale,

determine the allocation of the net proceeds from the transaction.

For further queries, please contact:

Lars-Christian Svensen, Chief Executive Officer, 2020 Bulkers Management AS.

Telephone +47 476 38 756

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and subject to the disclosure requirements pursuant to

section 5-12 of the Norwegian Securities Trading Act. This stock exchange

notice was published by Vidar Hasund, CFO, on the date and time as set out in

the release.

About 2020 Bulkers Ltd.

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

are fitted with exhaust scrubber systems.

Forward-Looking Statements

This announcement includes forward looking statements. Forward looking

statements are, typically, statements that do not reflect historical facts and

may be identified by words such as "anticipate", "believe", "continue",

"estimate", "expect", "intends", "may", "should", "will" and similar

expressions. The forward-looking statements in this announcement are based

upon various assumptions, many of which are based, in turn, upon further

assumptions. Although 2020 Bulkers Ltd. believes that these assumptions are

reasonable, they are, by their nature, uncertain and subject to significant

known and unknown risks, contingencies and other factors which are difficult

or impossible to predict and which are beyond our control. Such risks,

uncertainties, contingencies and other factors could cause actual events to

differ materially from the expectations expressed or implied by the

forward-looking statements included herein.

The information, opinions and forward-looking statements contained in this

announcement speak only as of the date hereof and are subject to change

without notice.