2020 Bulkers Ltd. (2020) - Commercial update and key information relating to the cash distribution for February 2023

Oslo, Norway - March 8, 2023

Commercial update:
In February 2023, the Company achieved average time charter equivalent earnings of approximately US$15,800 per day, gross. The Company's two vessels trading on index-linked time charter earned approximately US$9,500 per day, gross, including average daily scrubber benefits of approximately US$3,500 per day. The Company's six vessels trading on fixed time charter earned approximately US$18,300 per day, gross, including average daily scrubber benefits of approximately US$600 per day.

The Baltic 5TC Capesize Index averaged US$3,749 during February 2023.

Cash Distribution:
The Board has approved a cash distribution of US$0.01 per share for February 2023. 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$0.01 per share
Declared currency: US$
Date of approval: March 7, 2023
Last day including right: March 20, 2023
Ex-date: March 21, 2023
Record date: March 22, 2023
Payment date: On or about March 30, 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