2020 Bulkers Ltd. (2020) Commercial update and key information relating to the cash distribution for December 2024

09 Jan 2025 08:00 CET

Oslo, Norway, January 9, 2025

Commercial update:

In December 2024, the Company achieved average time charter equivalent rate
("TCE")* of approximately US$19,100 per day, gross, for the Company's vessels
trading on index-linked time charter including average daily scrubber benefits
of approximately US$2,300 per day. The Company had 186 operational days in
December 2024.

The Baltic 5TC Capesize Index averaged US$11,573 during December 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.

Cash distribution:

The Board has approved a cash distribution of US$0.05 per share for December
2024. The distribution will be made from the Company's Contributed Surplus
account which consists of previously paid in share premium transferred from
the Company's Share Premium account.

Key information:

Cash distribution amount: US$0.05 per share

Declared currency: US$

Date of approval: January 8, 2025

Last day including right: January 15, 2025

Ex-date: January 16, 2025

Record date: January 17, 2025

Payment date: On or about January 24, 2025

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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