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

Hamilton, Bermuda - October 8, 2021

Commercial update:
In September 2021, the Company achieved average time charter equivalent earnings of approximately US$52,600 per day, gross.

The Company's three vessels trading on index-linked time charter earned approximately US$74,000 per day, gross, including average daily scrubber benefits of approximately US$1,300 per day.

The Company's four vessels trading on fixed time charter earned approximately US$40,900 per day, gross, including average daily scrubber benefits of approximately US$1,300 per day. Bulk Shenzhen received US$35,000 per day in off-hire insurance during the month.

The Baltic 5TC Capesize Index averaged US$54,311 during September 2021.

Bulk Shenzhen will on October 8, 2021, commence operations following yard repairs.

Cash Distribution:
The Board has approved a cash distribution of US$0.39 per share for September 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$0.39 per share
Declared currency: US$
Date of approval: October 7, 2021
Last day including right: October 18, 2021
Ex-date: October 19, 2021
Record date: October 20, 2021
Payment date: On or about October 28, 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