2020 Bulkers

Notice of Dividend Amount • Nov 12, 2025

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

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

Oslo, Norway, November 12, 2025

Commercial update:

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

("TCE")* of approximately US$36,000 per day, gross. The Company's four vessels

trading on index-linked time charter earned approximately US$36,000 per day,

gross, including average daily scrubber benefits of approximately US$1,500 per

day. The Company's two vessels trading on fixed time charter earned

approximately US$35,800 per day, gross, including average daily scrubber

benefits of approximately US$1,200 per day. The Company had 186 operational

days in October 2025.

The Baltic 5TC Capesize Index averaged US$24,444 during October 2025.

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

Company, means time charter revenues and voyage charter revenues excluding

address commission plus realized gain (loss) on forward freight agreements,

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$0.19 per share for October 2025.

Key information:

Dividend amount: US$0.19 per share

Declared currency: US$

Date of approval: November 11, 2025

Last day including right: November 19, 2025

Ex-date: November 20, 2025

Record date: November 21, 2025

Payment date: On or about November 28, 2025

For further queries, please contact:

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

Telephone +47 476 38 756

About 2020 Bulkers Ltd.

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

are fitted with exhaust scrubber systems.