SFL - Announcement of Public Offering of Common Shares

23 Jul 2024 22:15 CEST

SFL Corporation Ltd. (NYSE: SFL) ("SFL" or the "Company") today announced that
it intends to offer, issue and sell to the public 8,000,000 of the Company's
common shares, par value $0.01 per share ("Common Shares"), through an
underwritten public offering (the "Offering"). The net proceeds of the Offering
are expected to be used for general corporate purposes, including but not
limited to vessel acquisitions.

The Company also intends to grant the underwriters a 30-day over-allotment
option to purchase up to an additional 1,200,000 Common Shares.

Morgan Stanley is acting as sole bookrunning manager for the Offering and BTIG,
LLC is acting as lead manager for the Offering.

The Offering is being made only by means of a prospectus supplement and
accompanying base prospectus. A registration statement relating to these
securities was filed with the U.S. Securities and Exchange Commission (the
"SEC") and is effective. A prospectus supplement related to the Offering will be
filed with the SEC. You may obtain these documents for free, once available, by
visiting EDGAR on the SEC website at sec.gov. Alternatively, a copy may be
obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY 10014 or from BTIG, LLC, 350 Bush Street, 9th
FL, San Francisco, CA 94104, Attention: Syndicate Department at +1 415-248-2200
or by email at prospectusdelivery@btig.com.

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy these securities, nor shall there be any sale of these
securities, in any state or other jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.

July 23, 2024

The Board of Directors
SFL Corporation Ltd.
Hamilton, Bermuda

Investor and Analyst Contacts:
Aksel Olesen, Chief Financial Officer, SFL Management AS
+47 23 11 40 36
André Reppen, Chief Treasurer & Senior Vice President, SFL Management AS
+47 23 11 40 55
Sander Borgli, Vice President - IR, SFL Management AS
+47 23 11 40 73

Media Contact:
Ole B. Hjertaker, Chief Executive Officer, SFL Management AS
+47 23 11 40 11

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

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.

More information:
Access the news on Oslo Bors NewsWeb site