2020 Bulkers Ltd. (2020) - Changes to Board of Directors and grant of share options

11 Sep 2024 11:04 CEST

Oslo, Norway, September 11, 2024

2020 Bulkers Ltd. (the "Company") announces the appointment of Ms. Lori Wheeler
Naess as a director of the Company to fill a vacancy on the Board. Ms. Naess
serves as a director and Audit Committee Chairperson of Golar LNG Ltd. Ms. Naess
also serves on the Board, Corporate Governance Committee, Nominating Committee,
and Audit Committee of Opera Limited, a U.S.-listed company. Ms. Naess was a
director at PricewaterhouseCoopers in Oslo and was a Project Leader for the
Capital Markets Group. Between 2010 and 2012, she was a Senior Advisor for the
Financial Supervisory Authority in Norway and prior to this she was also with
PricewaterhouseCoopers in roles in the U.S., Norway and Germany. Ms. Naess is a
U.S. Certified Public Accountant (inactive). Ms. Naess is an American and
Norwegian citizen and resides in Oslo, Norway.

Ms. Alexandra Kate Blankenship has resigned as a Director of the Company
effective September 11, 2024. The Board would like to thank Ms. Blankenship for
her valuable contributions to the Company, having served as a Director since
January 10, 2019.

The Board of Directors of 2020 Bulkers has approved a grant of 35,000 share
options, each of which gives the holder the right to purchase one share in the
Company at an exercise price of US$16.7 per share. The exercise price will be
reduced by any dividends and cash distributions paid. The share options will
vest equally over a three-year period, commencing one year from date of grant
and will expire five years after the grant date.

The options have been granted to directors of the Company, including the
following persons discharging managerial responsibilities (PDMRs) as defined by
the Market Abuse Regulation:

Magnus Halvorsen (Chairperson of 2020 Bulkers Ltd.), was granted 20,000 share
options, following which he holds 20,000 share options and combined with MH
Capital AS owns 2,032,118 shares in 2020 Bulkers Ltd.

Lori Naess (Director of 2020 Bulkers Ltd.), was granted 7,500 share options,
following which she holds 7,500 share options in 2020 Bulkers Ltd.

Viggo Bang-Hansen (Director of 2020 Bulkers Ltd.), was granted 7,500 share
options, following which he holds 7,500 share options in 2020 Bulkers Ltd.

Following the grants, the total number of outstanding share options in the
Company is 175,000.

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:
Access the news on Oslo Bors NewsWeb site

627479_KRT_1500_MH.pdf
627479_KRT_1500_VBH.pdf
627479_KRT_1500_LWN.pdf