Saga Tankers Asa: Share Capital Increases Registered

Reference is made to the stock exchange notices from Saga Tankers ASA (the "Company") dated 19 October 2020 and 20 October 2020 regarding completion of two private placements of new shares in the Company.

The private placement completed on 19 October 2020 (the "Private Placement I") consisted of an issuance of 20,000,000 new shares in the Company. The private placement completed on 2020 October (the "Private Placement II") consisted of an issuance of 54,000,000 new shares in the Company.

The share capital increases pertaining to the Private Placement I and the Private Placement II has now been registered with the Norwegian Register of Business Enterprises. The new registered share capital of the Company is NOK 3,401,498.31 divided by 340,149,831 shares, each with a par value of NOK 0.01.

The new shares issued in the Private Placement I will be issued on the ordinary ISIN of the Company's shares in the VPS and delivered to the subscribers in the Private Placement I as soon as practically possible.

The new shares issued in the Private Placement II will initially be issued on a separate ISIN, and will only be converted to the ordinary ISIN of the Company's shares following approval and publication of a listing prospectus. The new shares issued in the Private Placement II will be delivered to Øystein Stray Spetalen in order to settle the share lending agreement entered into in connection with the Private Placement II.

For further information, please contact:
CEO Espen Lundaas
+47 92 43 14 17

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