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

Oslo, Norway - January 10, 2023

Commercial update:
In December 2022, the Company achieved average time charter equivalent earnings of approximately US$25,400 per day, gross.

The Company's four vessels trading on index-linked time charter earned approximately US$22,900 per day, gross, including average daily scrubber benefits of approximately US$2,300 per day.

The Company's four vessels trading on fixed time charter earned approximately US$27,800 per day, gross, including average daily scrubber benefits of approximately US$4,300 per day.

The Baltic 5TC Capesize Index averaged US$15,906 during December 2022.

Cash Distribution:
The Board has approved a cash distribution of US$0.09 per share for December 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$0.09 per share
Declared currency: US$
Date of approval: January 9, 2023
Last day including right: January 19, 2023
Ex-date: January 20, 2023
Record date: January 23, 2023
Payment date: On or about January 31, 2023

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