SFL - First Quarter 2026 Results

12 May 2026 12:00 CEST

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Preliminary Q1 2026 results and increased quarterly cash dividend of $0.22 per
share

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SFL Corporation Ltd. ("SFL" or the "Company") today announced preliminary
financial results for the quarter ended March 31, 2026, and its 89(th)
consecutive quarterly dividend.

Highlights

* 89(th) consecutive quarterly dividend declared, increased to $0.22 per share
* Total operating revenues of $174 million, of which approximately 87% was
from shipping and 13% from energy
* Adjusted EBITDA(1) of $108 million, including $8 million from associated
companies
* Reported net income of $26 million or $0.20 per share
* Strong performance from two Suezmax tankers in the spot market
* Secured a $170 million drilling contract for the semi-submersible rig
Hercules
* Refinanced the Linus and Hercules rigs with $250 million in new credit
facilities
* Successfully closed $75 million bond tap issue subsequent to quarter end

Quarterly Dividend

The Board of Directors has declared a quarterly cash dividend of $0.22 per
share. The dividend will be paid on or around June 22, and the record- and ex-
dividend date on the New York Stock Exchange will be May 27, 2026.

The full report can be found in the link below and at the Company's website
www.sflcorp.com (http://www.sflcorp.com).

Webcast and Presentation

In connection with earnings release, a webcast will be held today at 10:00 AM
(EST) / 4:00 PM (CET)

In order to listen to the webcast and see the presentation, you may do one of
the following:

A: Join Conference Call Webcast in Listen Only Mode:
Visit the Investor Relations section of the Company's website
at www.sflcorp.com and click on the link to "Webcast", or access directly via
the webcast link below. The webcast with slideshow will be played live from this
platform:

SFL Corporation Ltd. Q1 2026 Webcast (https://connectstudio-portal.world-
television.com/en/64c901b7ac3efa325c227857)

B: Join Conference Call and Participate in Live Q&A through Zoom:
Join through the Zoom link below to ask a question:
SFL Q1 2026 Q&A
(https://wtvglobal.zoom.us/j/92815814810?pwd=cKNiJTHTkWbflCQtvPUEP7yctzzXUm.1)

Meeting ID: 928 1581 4810
Passcode: 352733

The presentation material used in the webcast may be downloaded at
www.sflcorp.com (http://www.sflcorp.com) and replay details are also available
at the Company website.

Questions may be directed to SFL Management AS:

Investor and Analyst Contacts:
Espen Nilsen Gjøsund, Vice President - Investor Relations, +47 47 50 05 00
André Reppen, Chief Treasurer & Senior Vice President, +47 23 11 40 55
Aksel Olesen, Chief Financial Officer, +47 23 11 40 36

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.

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(1) 'Adjusted EBITDA' is a non-U.S. GAAP measure. It represents cash receipts
from operating activities before net interest and capital payments.

More information:
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673142_SFL - First Quarter 2026 Results.pdf