2020 Bulkers Ltd. (2020) - Commercial update and key information relating to the cash distribution for September 2022

Oslo, Norway - October 11, 2022

Commercial update:
In September 2022, the Company achieved average time charter equivalent earnings of approximately US$22,900 per day, gross.

The Company's six vessels trading on index-linked time charter earned approximately US$18,500 per day, gross, including average daily scrubber benefits of approximately US$3,400 per day.

The Company's two vessels trading on fixed time charter earned approximately US$35,900 per day, gross, including average daily scrubber benefits of approximately US$4,100 per day.

The Baltic 5TC Capesize Index averaged US$11,781 during September 2022.

Cash Distribution:
The Board has approved a cash distribution of US$0.06 per share for September 2022. 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$0.06 per share
Declared currency: US$
Date of approval: October 10, 2022
Last day including right: October 19, 2022
Ex-date: October 20, 2022
Record date: October 21, 2022
Payment date: On or about October 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