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

Oslo, Norway - May 8, 2024

Commercial update:
In April 2024, the Company achieved average time charter equivalent rate ("TCE")* of approximately US$31,300 per day, gross, for the Company's vessels trading on index-linked time charter including average daily scrubber benefits of approximately US$3,600 per day. The Company had 180 operational days in April 2024.

The Baltic 5TC Capesize Index averaged US$20,036 during April 2024.

* Average time charter equivalent rate, gross, ("TCE") when used by the Company, means time charter revenues and voyage charter revenues excluding address commission, less voyage charter expenses and adjusted from "load to discharge" basis to "discharge to discharge" basis and divided by operational days.

The Board has approved a dividend of US$0.14 per share for April 2024.

Key information:
Dividend amount: US$0.14 per share
Declared currency: US$
Date of approval: May 7, 2024
Last day including right: May 14, 2024
Ex-date: May 15, 2024
Record date: May 16, 2024
Payment date: On or about May 24, 2024

About 2020 Bulkers Ltd.
2020 Bulkers has six Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.

2020 Bulkers Limited press release