ESG Report 2025

ESG REPORT 2025

COMPANY FACTS

Number of shipboard employees

126

Total number of fleet cargo related port calls

139

Number of vessels in total shipping fleet

6

Deadweight tonnage

1,248,000 MT

Operating days

2,190

Total distance traveled by vessels

455,241 nm

All data collected 31/12/2025, representing complete annual 2025 data points

ENVIRONMENTAL

The 2020 Bulkers fleet consists of modern, fuel efficient 208.000 DWT Newcastlemax dry bulk vessels. The vessels are fitted with exhaust gas cleaning systems (EGCS) and ballast water treatments systems (BWTS).

Our fleet is estimated to be 36% more carbon emission efficient per ton mile compared to a standard Capesize ves-sel*. The exhaust gas cleaning systems remove 80% of all particulate matters. According to the World Health Organization (WHO), particulate matter emissions are the cause of 5% of all lung cancer incidents globally.

The 2020 Bulkers Fleet was delivered with an EEDI of 2.11, outperforming

IMO requirements by 16% (phase 1). The company still benefits from high focus on performance during contracting, as the fleet also surpasses the EEDI requirements for vessels contracted between 2020 and 2024 by 6% (Phase 2). AER and EEOI are also parameters where 2020 Bulkers are more efficient than our peers.

We follow technological developments closely and evaluate the use of any proven, practical, and economically viable means to reduce our environmental footprint.

Fleet energy performance is continuously monitored and evaluated, and improvement measures are an integral part of our operation.

The recent dry docking of our vessels has been completed with upgraded premium underwater paint systems to ensure emission performance optimization.

The 2020 Bulkers fleet is equipped with ballast water treatment systems and is subject to regular hull inspections to establish if underwater hull cleaning is required. All vessels are subject to systematic cleaning of propeller blades and niche areas.

First class anti-fouling hull treatment systems are applied, and regular condition-based hull cleaning is done to ensure low risk of developing hull growth during a standard 60-month dry-dock interval.

* EEOI calculated basis static cargo capacity, comparing actual consumption on a representative 2020 Bulkers vessel to a Baltic standard Cape size vessel, defined as a 180.000 DWT bulk carrier consuming 43 MT of fuel oil, trading at 12 kts. laden / 13 kts. ballasting.

SOCIAL

2020 Bulkers has outsourced technical vessel management to third party contractors. A structured due diligence and audit process is in place to ensure quality requirements are met.

As of December 31, 2025, technical management and crewing is handled by OSM Thome in Singapore and Bergen respectively.

We have a conscious dedication not only to compliance in general, but to a wider set of specific codes related

to crew welfare and labor conditions, whistle blowing, anti-corruption and HSQE. We have a zero-tolerance policy for deficiencies.

All employees are treated equally with respect and according to international and local labor and human rights standards, laws, and regulations. Discrimination or harassment is not tolerated at any level in the organization. All vendors and contractors are required to follow international and local labor and human rights standards, laws, and regulations.

All vessels are operating under CBAs approved by local and national labor organizations. The seafarers have the freedom to be a member of their national unions

GOVERNANCE

2020 Bulkers has a zero-tolerance policy on corruption, and follows industry standards for handling these challenges, especially being vigilant in high-risk areas. Our contractors are required to report on the same matters.

Our technical manager OSM is a member of MACN (Maritime Anti Corruptions Network), and all vessels and crew follow MACN rules.

Reference: https://2020bulkers.com/ wp-content/uploads/2020/02/2020-Bulkers-Ltd.-Corporate-Code-of-Busi-ness-Ethics-and-Conduct.pdf

2020 Bulkers has a flat organization with an open and transparent communications structure. We are committed to our ethics and values, and encourage each other to be structured, responsible and accountable. Through choosing serious and market leading suppliers and customers, and by keeping an honest and open dialogue with same, we ensure our impact on people and the environment is handled with responsibility.

We believe that strong corporate governance is part of every successful

organization and are fully committed to keeping the highest standards in place.

Being listed on Oslo Stock Exchange the company follows the Norwegian Code of Practice for corporate governance. Most of the principles and recommendations in the Code are included in the Compa-ny's corporate governance policy. There are, however, some areas where the Company's governance principles differ from those of the Code, primarily due to differences between the Bermuda Companies Act and/or the Byelaws and the Norwegian Public Limited Companies Act. Those differences are described in the Corporate Governance Report.