2020 Bulkers Ltd. (2020) Commercial update and key information relating to the dividend for March 2025

08 Apr 2025 08:00 CEST

Oslo, Norway, April 8, 2025

Commercial update:

In March 2025, the Company achieved average time charter equivalent rate
("TCE")* of approximately US$29,600 per day, gross, for the Company's vessels
trading on index-linked time charter including average daily scrubber benefits
of approximately US$1,300 per day. The Company had 126 operational days in
March 2025.

Bulk Shenzhen and Bulk Sydney, both trading on index-linked time charter in
March, had off-hire for 21 and 30 days in March, respectively, due to
completion of 5 year special surveys. Bulk Sao Paulo, trading on index-linked
time charter in March, had total off-hire for 9 days in March, due to ongoing
5 year special survey which is expected to complete on April 17, 2025. The
extended off-hires are due to yard congestion and long sailing distances from
discharge ports to yard in China.

The Baltic 5TC Capesize Index averaged US$20,802 during March 2025.

*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$0.06 per share for March 2025.

Key information:

Dividend amount: US$0.06 per share

Declared currency: US$

Date of approval: April 7, 2025

Last day including right: April 14, 2025

Ex-date: April 15, 2025

Record date: April 16, 2025

Payment date: On or about April 28, 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.

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