2020 Bulkers Ltd. (2020) - Organizational Update and Succession Plan

11 Jun 2024 08:00 CEST

Oslo, Norway, June 11, 2024

The Board of Directors of 2020 Bulkers Ltd. are pleased to announce that Mr.
Lars-Christian Svensen will join 2020 Bulkers Management AS as Chief Commercial
Officer on September 1, 2024. Concurrently, Mr. Svensen will also be appointed
Chief Commercial Officer of Himalaya Shipping Ltd, under the management
agreement between 2020 Bulkers Management AS and Himalaya Shipping Ltd.

Mr. Svensen has a 17-year career in international shipping. From 2007 to 2008,
he worked as a shipbroker for Cmarine Services and from 2008 to 2009, he served
as a Project Analyst for Petredec Pte Ltd in Singapore. From 2009 to 2020, Mr.
Svensen was employed by Western Bulk, where he held various positions within the
group in Singapore (Head of Arabian Gulf), Seattle, US (President), and Oslo
(Senior Vice President). From 2020 - 2024, he acted as CCO and CEO of Golden
Ocean Management AS.

Furthermore, the Board of Directors are pleased to announce that from April 1,
2025, Mr. Svensen will transition and will assume the role as Chief Executive
Officer of 2020 Bulkers Management AS, as well as be appointed as functioning
Chief Executive Officer of Himalaya Shipping Ltd, under the management agreement
between 2020 Bulkers Management AS and Himalaya Shipping Ltd. This will coincide
with the present Chief Executive Officer, Herman Billung, reaching his
retirement age at 67 years. Following his retirement from his current role as
Chief Executive Officer, Mr. Billung will assume a role as Special Advisor to
the Board and Management of 2020 Bulkers and Himalaya Shipping.

The Board of Directors are very pleased to have secured a solid succession plan
for the Companies. Further, we are extremely thankful for the fact that we will
be able to draw on Mr. Billung´s vast experience following his retirement in
April 2025.

Mr Herman Billung commented: "I am happy that Lars-Christian has decided to
join, in what I firmly believe, will be a very interesting journey in the years
to come. I have learned to know him as an energetic and knowledgeable person,
who I believe is the right person for the job. After more than 35 years in the
dry bulk industry it is important for me to leave the helm with a succession
plan benefitting our shareholders in the best possible manner. I hope that my
experience and network will contribute positively in my new role as a Senior
Advisor. I would like to thank the Board and my colleagues for the trust and
opportunities given to me".

Mr. Lars-Christian Svensen commented: "I am very pleased to join 2020 Bulkers
and Himalaya Shipping, two of the most modern Newcastlemax owners in the world.
With the most efficient fleet in this segment, the companies hold a strategic
advantage that I hope to further develop in my new role. I look forward to
working with the team to utilize the efficiency and decarbonization strategy
already in place and contribute to the fleet's commercial performance. I want to
thank the Owners and the Boards of the respective companies for their confidence
and look forward to playing a central role in creating further
shareholder value".

For further queries, please contact:

Herman Billung, Chief Executive Officer, 2020 Bulkers Management AS

Telephone +47 918 31 590

About 2020 Bulkers Ltd.

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

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