SFL - Acquisition of Car Carrier with long term charter

Hamilton, Bermuda - November 3, 2022

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

SFL Corporation Ltd. (NYSE: SFL) ("SFL" or the "Company") announced today that it has agreed to acquire a Pure Car Truck Carrier ("PCTC") in combination with a long term time charter to a leading car carrier operator until 2028.

The Company expects to take delivery of the vessel during the fourth quarter. The fixed rate charter backlog will increase by approximately $65 million, with the possibility of additional upside from profit share related to fuel savings from the vessel's scrubber.

In addition to the PCTC transaction, SFL has recently taken delivery of four modern Suezmax tankers and one newbuild eco-design feeder container vessel, all on long term charters.

The Company also expects to take delivery of another newbuild eco-design feeder container vessel later in the fourth quarter.

All recently announced transactions are expected to have full revenue effect from the first quarter 2023.

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 container vessels, car carriers, tanker vessels, bulkers 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

SFL Corporation Ltd. press release