Nordic American Tankers Ltd (NYSE: NAT) - Update on the position of our suexmax vessels

September 6, 2022

Dear Shareholders and Investors,

The situation associated with the war between Russia and Ukraine is difficult to assess in detail. However, it is a general experience that uncertain times are good for Nordic American Tankers. Our suezmaxes are well placed to benefit from the situation.

We have reduced our fleet to about 20 vessels. We are now in an upward trend and over the next year, two or three, we expect to increase our fleet.

Our strong links with the Far East are continuing. This above all relate to Japan, China, Korea and India. Over the years we have long experience from these areas.

The main advantage for Nordic American Tankers is that we have good ships, good people and access to finance.

Being listed in the US, we have to comply with strict and detailed rules. Over the years we have learned to live with that situation.

Going forward, we prioritize to distribute dividend. In a stronger market that we now see, the dividend can be expected to increase.

For further information please see our website: www.nat.bm

Best regards,

Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Limited

Nordic American Tankers Ltd, press release