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

11 Jun 2024 08:15 CEST

Oslo, Norway, June 11, 2024

Commercial update:

In May 2024, the Company achieved average time charter equivalent rate ("TCE")*
of approximately US$34,800 per day, gross, for the Company's vessels trading on
index-linked time charter including average daily scrubber benefits of
approximately US$2,400 per day. The Company had 186 operational days in May
2024.

The Baltic 5TC Capesize Index averaged US$23,145 during May 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.

Dividend:

The Board has approved a dividend of US$0.18 per share for May 2024.

Key information:

Dividend amount: US$0.18 per share

Declared currency: US$

Date of approval: June 10, 2024

Last day including right: June 17, 2024

Ex-date: June 18, 2024

Record date: June 19, 2024

Payment date: On or about June 26, 2024

For further queries, please contact:

Magnus Halvorsen, Chairperson, 2020 Bulkers Ltd.

Telephone +47 920 20 111

About 2020 Bulkers Ltd.

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

More information:
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