2020 Bulkers Ltd. (2020) Commercial update and key information relating to the dividend for February 2026

10 Mar 2026 08:00 CET

Oslo, Norway, March 10, 2026

Commercial update:

In December 2025, the Company achieved average time charter equivalent rate
("TCE")* of approximately US$25,200 per day, gross. The Company's vessels
trading on index-linked time charter earned approximately US$33,800 per day,
gross, including average daily scrubber benefits of approximately US$900 per
day. The Company's vessels trading on fixed time charter earned approximately
US$19,800 per day, gross, including scrubber benefits. The Company had 166
operational days in February 2026.

Bulk Santos ended its time charter contract on February 27, 2026, and has been
delivered to the new owner.

The Baltic 5TC Capesize Index 180 averaged US$24,419 during February 2026.

*Average time charter equivalent rate, gross, ("TCE") when used by the
Company, means time charter revenues and voyage charter revenues excluding
address commission plus realized gain (loss) on forward freight agreements,
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$0.10 per share for February 2026.

Key information:

Dividend amount: US$0.10 per share

Declared currency: US$

Date of approval: March 9, 2026

Last day including right: March 16, 2026

Ex-date: March 17, 2026

Record date: March 18, 2026

Payment date: On or about March 25, 2026

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 five Newcastlemax dry bulk vessels in operation. All vessels
are fitted with exhaust scrubber systems.

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