Nordic American Tankers Ltd (NYSE: NAT) - Memorandum on the tanker market

November 6, 2020

Dear Shareholders and Investors,

We receive many comments and questions regarding the market for our suezmaxes (25 suezmaxes including 2 newbuildings for 2022 delivery).

NAT is in a positive phase of development. There has been a certain lull in the market recently, which we regard as a short term phenomenon.

A company can go three ways: Sideways, downwards or upwards. NAT is solidly on its way upwards.

Our results are out Monday November the 16th.

Dividend is a priority, but a reflection of earnings, as it has always been.

Good Weekend!
Best regards,

Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Ltd.

Nordic American Tanker Shipping Ltd., press release