Major Shareholding Notification

Incentive AS, in its capacity as discretionary investment manager of several funds and separately managed accounts, today (24 September 2026) has been allocated 100 334 448 shares in 2020 Bulkers Ltd (the “Company”), at a price of 0,299 USD per share (the “Transaction”), in a private placement of 585 284 280 new shares (the “Offer Shares”).

The Offer Shares will be issued by the Company on a separate ISIN BMG9156K1190 and will thus not be tradable on Euronext Oslo Børs or fungible with the 22 930 906 current shares outstanding in the Company which are listed on Euronext Oslo Børs with ticker “2020” and ISIN BMG9156K1018 (the “Existing Shares”).

Before the Transaction, the funds and separate accounts managed by Incentive AS did not own any shares in the Company.

After the Transaction, the funds and separate accounts managed by Incentive AS own 17.143 % of the Offer Shares in the Company, and 16.497 % of the voting rights and total outstanding shares in the Company. The first day of quoting of the Offer Shares on Euronext NOTC is expected on or about 1 October 2026.

For further details, please refer to the press release: https://live.euronext.com/en/products/equities/company-news/2026-09-24-2020-bulkers-ltd-private-placement-completed