Oslo, Norway, January 10, 2023

Commercial update:

In December 2022, the Company achieved average time charter equivalent earnings
of approximately US$25,400 per day, gross. The Company's four vessels trading on
index-linked time charter earned approximately US$22,900 per day, gross,
including average daily scrubber benefits of approximately US$2,300 per day. The
Company's four vessels trading on fixed time charter earned approximately
US$27,800 per day, gross, including average daily scrubber benefits of
approximately US$4,300 per day.

The Baltic 5TC Capesize Index averaged US$15,906 during December 2022.

Cash Distribution:

The Board has approved a cash distribution of US$0.09 per share for December
2022. 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:

Distribution amount: US$0.09 per share

Declared currency: US$

Date of approval: January 9, 2023

Last day including right: January 19, 2023

Ex-date: January 20, 2023

Record date: January 23, 2023

Payment date: On or about January 31, 2023

For further queries, please contact:

Magnus Halvorsen, Chairman, 2020 Bulkers Ltd.

Telephone +47 920 20 111

About 2020 Bulkers Ltd.

2020 Bulkers has eight Newcastlemax dry bulk vessels in operation. All vessels
are fitted with exhaust scrubber systems.

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© Oslo Bors ASA, source Oslo Stock Exchange