2020 Bulkers Ltd. (2020) - Commercial update and key information relating to the cash distribution for August 2021

Hamilton, Bermuda - September 8, 2021

Commercial update:

In August 2021, the Company achieved average time charter equivalent earnings of approximately US$45,600 per day, gross. The Company's six vessels trading on index-linked time charter earned approximately US$51,300 per day, gross, including average daily scrubber benefits of approximately US$1,400 per day.

Bulk Shenzhen was off-hire for 14 days in August before the off-hire insurance became active. The Company's two vessels trading on fixed time charter earned approximately US$28,400 per day, gross, including average daily scrubber benefits of approximately US$1,700 per day.

The Baltic 5TC Capesize Index averaged US$42,433 during August 2021.

Cash Distribution:
The Board has approved a cash distribution of US$0.32 per share for August 2021. 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:
Distribution amount: US$0.32 per share
Declared currency: US$
Date of approval: September 7, 2021
Last day including right: September 16, 2021
Ex-date: September 17, 2021
Record date: September 20, 2021
Payment date: On or about September 29, 2021

About 2020 Bulkers Ltd.:
2020 Bulkers has eight Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.

2020 Bulkers Limited press release