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

Oslo, Norway - May 10, 2023

Commercial update:
In April 2023, the Company achieved average time charter equivalent earnings of approximately US$24,400 per day, gross.

The Company's five vessels trading on index-linked time charter earned approximately US$26,100 per day, gross, including average daily scrubber benefits of approximately US$4,100 per day.

The Company's three vessels trading on fixed time charter earned approximately US$21,600 per day, gross, including scrubber benefits.

The Baltic 5TC Capesize Index averaged US$15,931 during April 2023.

Cash Distribution:
The Board has approved a cash distribution of US$0.07 per share for April 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$0.07 per share
Declared currency: US$
Date of approval: May 9, 2023
Last day including right: May 22, 2023
Ex-date: May 23, 2023
Record date: May 24, 2023
Payment date: On or about May 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