Oslo, Norway, February 12, 2024

2020 Bulkers Ltd. (the "Company") announces that it has signed an agreement to
sell its 2019 built Newcastlemax vessels Bulk Shanghai and Bulk Seoul to an
unaffiliated third party for a total consideration of US$127.5 million. The sale
is subject to certain closing conditions, in line with industry standards.

The two vessels are currently owned by Ocean Yield under a sale leaseback
arrangement, and the Company has exercised its option with Ocean Yield to
effectuate the sale.

The Company will retain the vessels' operating cashflow until closing of the
transaction, which is expected to take place no later than May 1, 2024. Assuming
the two vessels each perform two more China-Australia round voyages, based on
the current FFA curve, cash flow during the period is estimated to be
approximately US$3.5 million.

The Company expects to recognize a net book gain of approximately US$40 million
upon completion of the transaction.

As a result of the transaction, the Company's estimated cash breakeven will be
reduced with US$1,900 per day to US$14,500 per day and the Company's average
gross debt per vessel will decrease from approximately US$25.7 million to
approximately US$23.7 million.

The Board of Directors of the Company will, subject to completion of the sale,
determine the allocation of the net proceeds from the transaction, which may
include further debt repayments or a return of capital to shareholders.

For further queries, please contact:

Magnus Halvorsen, Chairperson, 2020 Bulkers Ltd.

Telephone +47 920 20 111

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and subject to the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act. This stock exchange notice
was published by Vidar Hasund, CFO, on the date and time as set out in the
release.

About 2020 Bulkers Ltd.

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

Forward-Looking Statements

This announcement includes forward looking statements. Forward looking
statements are, typically, statements that do not reflect historical facts and
may be identified by words such as "anticipate", "believe", "continue",
"estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this announcement are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although 2020 Bulkers Ltd. believes that these assumptions are reasonable, they
are, by their nature, uncertain and subject to significant known and unknown
risks, contingencies and other factors which are difficult or impossible to
predict and which are beyond our control. Such risks, uncertainties,
contingencies and other factors could cause actual events to differ materially
from the expectations expressed or implied by the forward-looking statements
included herein.

The information, opinions and forward-looking statements contained in this
announcement speak only as of the date hereof and are subject to change without
notice.