SFL Corporation Ltd.

Regulatory Filings • Dec 19, 2025

Correction: SFL - Sale of Suezmax Tankers and Termination of Charters

Correction: SFL - Sale of Suezmax Tankers and Termination of Charters

SFL Corporation Ltd. (NYSE: SFL) ("SFL" or the "Company") today announced that

it has agreed to sell the two 2015-built Suezmax tankers SFL Thelon and SFL

Ottawa, currently on charter to a trading house.

The gross sales price is expected to be approximately $57 million per vessel.

Net proceeds are estimated at approximately $26 million per vessel after

repayment of associated debt and payment of a termination fee in accordance with

a pre-agreed profit share arrangement.

The vessels will be delivered in the fourth and first quarter, respectively, and

SFL expects to record an aggregate book gain of approximately $23 million from

the transaction, allocated between the two vessels.

The Company and the same charterer has furthermore agreed to mutually terminate

the charters for the two 2020-built Suezmax tankers SFL Albany and SFL Fraser

and pay a termination fee in accordance with a pre-agreed profit share

arrangement. The two retained vessels are Korea built eco-design and equipped

with scrubbers. The vessels will initially be employed in the spot market and in

due course the Company may look for longer-term employment for these vessels.

Ole B. Hjertaker, Chief Executive Officer of SFL Management AS, commented: "This

transaction illustrates the embedded value in our fleet, where we can

materialize a significant profit from the sale of two 10-year-old vessels just

three years after their acquisition. And in the meantime, we have enjoyed solid

cash flows from the vessels. A portion of the proceeds will be reinvested in the

younger, more fuel-efficient vessels that are well positioned to benefit from

the current strong charter market, where prevailing charter rates are materially

higher than the existing fixed charter rates."

December 19, 2025

The Board of Directors

SFL Corporation Ltd.

Hamilton, Bermuda

Investor and Analyst Contacts:

Espen Nilsen Gjøsund, Vice President - Investor Relations, +47 47500500

André Reppen, Chief Treasurer & Senior Vice President, +47 23114055

Aksel Olesen, Chief Financial Officer, +47 23114036

Media Contact:

Ole B. Hjertaker, Chief Executive Officer, SFL Management AS

+47 23114011

About SFL

SFL has a unique track record in the maritime industry and has paid dividends

every quarter since its initial listing on the New York Stock Exchange in 2004.

The Company's fleet of vessels is comprised of tanker vessels, bulkers,

container vessels, car carriers and offshore drilling rigs. SFL's long term

distribution capacity is supported by a portfolio of long-term charters and

significant growth in the asset base over time. More information can be found on

the Company's website: www.sflcorp.com (http://www.sflcorp.com).

Cautionary Statement Regarding Forward Looking Statements

This press release may contain forward looking statements. These statements are

based upon various assumptions, many of which are based, in turn, upon further

assumptions, including SFL management's examination of historical operating

trends, data contained in the Company's records and other data available from

third parties. Although SFL believes that these assumptions were reasonable when

made, because assumptions are inherently subject to significant uncertainties

and contingencies which are difficult or impossible to predict and are beyond

its control, SFL cannot give assurance that it will achieve or accomplish these

expectations, beliefs or intentions.

Important factors that, in the Company's view, could cause actual results to

differ materially from those discussed in the forward looking statements include

the strength of world economies, fluctuations in currencies and interest rates,

general market conditions in the seaborne transportation industry, which is

cyclical and volatile, including fluctuations in charter hire rates and vessel

values, changes in demand in the markets in which the Company operates,

including shifts in consumer demand from oil towards other energy sources or

changes to trade patterns for refined oil products, changes in market demand in

countries which import commodities and finished goods and changes in the amount

and location of the production of those commodities and finished goods,

technological innovation in the sectors in which we operate and quality and

efficiency requirements from customers, increased inspection procedures and more

restrictive import and export controls, changes in the Company's operating

expenses, including bunker prices, dry-docking and insurance costs, performance

of the Company's charterers and other counterparties with whom the Company

deals, the impact of any restructuring of the counterparties with whom the

Company deals, and timely delivery of vessels under construction within the

contracted price, governmental laws and regulations, including environmental

regulations, that add to our costs or the costs of our customers, potential

liability from pending or future litigation, potential disruption of shipping

routes due to accidents, political instability, terrorist attacks, piracy or

international hostilities, the length and severity of the ongoing coronavirus

outbreak and governmental responses thereto and the impact on the demand for

commercial seaborne transportation and the condition of the financial markets,

and other important factors described from time to time in the reports filed by

the Company with the United States Securities and Exchange Commission. SFL

disclaims any intention or obligation to update or revise any forward-looking

statements, whether as a result of new information, future events or otherwise,

except as required by law.