2020 Bulkers Ltd. (2020) - Sale of Bulk Sandefjord, Bulk Santiago and Bulk Shenzhen

Oslo, Norway - 26 September 2025

2020 Bulkers (the "Company") announces that it has signed agreements to sell each of its 2019 built Newcastlemax vessels, Bulk Sandefjord and Bulk Santiago, and the 2020 built Newcastlemax vessel, Bulk Shenzhen, to an unaffiliated third party for a total consideration of US$209 million. Each sale is subject to certain closing conditions, in line with industry standards.

The Company will retain the vessels' respective operating cashflows until closing of each vessel transaction, each of which is agreed to take place during Q1 2026.

The Company expects to recognize a net book gain of approximately US$89 million upon completion of the transactions.

The Board of Directors of the Company will, subject to completion of the sales, determine the allocation of the net proceeds from the transactions.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange notice was published by Vidar Hasund, CFO, on the date and time as set out in the release.

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