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

Hamilton, Bermuda - December 8, 2021

Commercial update:
In November 2021, the Company achieved average time charter equivalent earnings of approximately US$48,700 per day, gross.

The Company's two vessels trading on index-linked time charter earned approximately US$46,800 per day, gross, including average daily scrubber benefits of approximately US$2,500 per day.

The Company's six vessels trading on fixed time charter earned approximately US$49,400 per day, gross, including average daily scrubber benefits of approximately US$2,700 per day.

The Baltic 5TC Capesize Index averaged US$30,716 during November 2021.

Cash Distribution:
The Board has approved a cash distribution of US$0.35 per share for November 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$0.35 per share
Declared currency: US$
Date of approval: December 7, 2021
Last day including right: December 15, 2021
Ex-date: December 16, 2021
Record date: December 17, 2021
Payment date: On or about December 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