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

Oslo, Norway - August 8, 2023

Commercial update:
In July 2023, the Company achieved average time charter equivalent earnings of approximately US$21,200 per day, gross.

The Company's six vessels trading on index-linked time charter earned approximately US$20,600 per day, gross, including average daily scrubber benefits of approximately US$2,200 per day.

The Company's two vessels trading on fixed time charter earned approximately US$23,100 per day, gross, including scrubber benefits.

The Baltic 5TC Capesize Index averaged US$13,192 during July 2023.

Cash Distribution:
The Board has approved a cash distribution of US$0.04 per share for July 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$0.04 per share
Declared currency: US$
Date of approval: August 7, 2023
Last day including right: August 21, 2023
Ex-date: August 22, 2023
Record date: August 23, 2023
Payment date: On or about August 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