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

11 Jun 2025 08:00 CEST

Oslo, Norway, June 11, 2025

Commercial update:

In May 2025, the Company achieved average time charter equivalent rate
("TCE")* of approximately US$23,800 per day, gross, for the Company's vessels
trading on index-linked time charter including average daily scrubber benefits
of approximately US$1,100 per day. The Company had 185 operational days in May
2025.

Bulk Santos, trading on index-linked time charter in May, had off-hire for 1
day in May due to ongoing 5 year special survey.

The Baltic 5TC Capesize Index averaged US$15,675 during May 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$0.11 per share for May 2025.

Key information:

Dividend amount: US$0.11 per share

Declared currency: US$

Date of approval: June 10, 2025

Last day including right: June 16, 2025

Ex-date: June 17, 2025

Record date: June 18, 2025

Payment date: On or about June 25, 2025

For further queries, please contact:
Lars-Christian Svensen, Chief Executive Officer, 2020 Bulkers Management AS.
Telephone +47 476 38 756

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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