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Hamilton, Bermuda - December 19, 2025 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." 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 SFL Corporation Ltd. press release 
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