2020 Bulkers Ltd. (2020) - Commercial update and key information relating to the dividend for January 2024

Oslo, Norway - February 7, 2024

Commercial update:
In January 2024, the Company achieved average time charter equivalent earnings of approximately US$27,100 per day, gross.

The Company's three vessels trading on index-linked time charter earned approximately US$32,100 per day, gross, including average daily scrubber benefits of approximately US$3,700 per day.

The Company's five vessels trading on fixed time charter earned approximately US$24,100 per day, gross, including average daily scrubber benefits of approximately US$2,800 per day.

The Baltic 5TC Capesize Index averaged US$20,565 during January 2024.

Dividend:
The Board has approved a dividend of US$0.10 per share for January 2024.

Key information:
Distribution amount: US$0.10 per share
Declared currency: US$
Date of approval: February 6, 2024
Last day including right: February 20, 2024
Ex-date: February 21, 2024
Record date: February 22, 2024
Payment date: On or about February 29, 2024

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