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

Hamilton, Bermuda - January 11, 2022

Commercial update:
In December 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$42,800 per day, gross, including average daily scrubber benefits of approximately US$2,700 per day.

The Company's six vessels trading on fixed time charter earned approximately US$50,700 per day, gross, including average daily scrubber benefits of approximately US$3,700 per day.

The Baltic 5TC Capesize Index averaged US$31,532 during December 2021.

Cash Distribution:
The Board has approved a cash distribution of US$0.36 per share for December 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$0.36 per share
Declared currency: US$
Date of approval: January 10, 2022
Last day including right: January 19, 2022
Ex-date: January 20, 2022
Record date: January 21, 2022
Payment date: On or about January 28, 2022

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