2020 Bulkers Ltd. (2020) - Results for the third quarter of 2025

12 Nov 2025 08:00 CET

Oslo, Norway, November 12, 2025

2020 Bulkers Ltd. ("2020 Bulkers" or the "Company") today announced its
unaudited financial and operating results for the three and nine months ended
September 30, 2025.

Key events during the third quarter of 2025
- The Company reported net profit of US$9.8 million and EBITDA of
US$14.2 million for the third quarter of 2025.

- The Company achieved average time charter equivalent earnings of
approximately US$35,100 per day, gross.

- The Company declared total dividends of US$0.54 per share for the
months of July, August and September 2025.

- The Company entered into hedging transactions through FFAs
effectively securing an average fixed rate of approximately US$33,700 per day,
gross, for two vessels from August 1 to December 31, 2025.

- The Company signed agreements to sell the vessels Bulk Sandefjord,
Bulk Santiago and Bulk Shenzhen for a total consideration of US$209 million
with agreed delivery in Q1 2026.

Subsequent Events
- In October 2025, the Company signed an agreement to sell the vessel
Bulk Sao Paulo for a total consideration of US$72.75 million with agreed
delivery in Q1 2026.

- Achieved average time charter equivalent earnings for October 2025 of
approximately US$36,000, per day, gross.

- In November 2025, the Company declared a dividend of US$0.19 per
share for October 2025.

The Board of Directors Report, the Condensed Consolidated Financial Statements
and the Q3 2025 Presentation are available in the enclosed files.

About 2020 Bulkers Ltd.
2020 Bulkers Ltd. is a limited liability company incorporated in Bermuda on 26
September 2017. The Company's shares are traded on Oslo Børs under the ticker
"2020".
2020 Bulkers is an owner and operator of large dry bulk vessels. The Company
has six Newcastlemax dry bulk vessels in operation.

November 12, 2025
Board of Directors
2020 Bulkers Ltd.
Oslo, Norway

More information:
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659399_2020 Bulkers Board Of Directors Report Q3 2025.pdf
659399_2020 Bulkers Presentation Results Q3 2025.pdf
659399_2020 Bulkers Consolidated Financial Statements Q3 2025.pdf