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

Oslo, Norway - April 13, 2023

Commercial update:
In March 2023, the Company achieved average time charter equivalent earnings of approximately US$20,000 per day, gross.

The Company's vessel trading on index-linked time charter earned approximately US$22,200 per day, gross, including average daily scrubber benefits of approximately US$3,300 per day.

The Company's seven vessels trading on fixed time charter earned approximately US$19,700 per day, gross, including average daily scrubber benefits of approximately US$1,400 per day.

The Baltic 5TC Capesize Index averaged US$13,907 during March 2023.

Cash Distribution:
The Board has approved a cash distribution of US$0.02 per share for March 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$0.02 per share
Declared currency: US$
Date of approval: April 12, 2023
Last day including right: April 19, 2023
Ex-date: April 20, 2023
Record date: April 21, 2023
Payment date: On or about April 28, 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