NAT - Nordic American Tankers Ltd (NYSE: NAT) - Christmas Greetings. Optimism is governing our thoughts.

December 20, 2021

Dear Shareholders,

As we are approaching the end of the year, we would like to extend our best wishes to all our shareholders and their families.

Several fundamentals are now pointing in the right direction. Oil demand is increasing, confirmed by the low oil inventories globally and orders for new tankers at the shipyards are at a low.

NAT has one of the lowest debt levels among publicly listed tanker companies on Wall Street. This low debt gives us room and flexibility to maneuver.

Over years, it is our experience that it is darkest just before dawn. NAT is well positioned when the sun shines on our fleet again.

NAT will always work for the highest possible earnings and dividends.

Our ships continue to visit all corners of the world.

As per previous communication, NAT board members have recently increased their share holdings.

We wish you all the best for the upcoming Holiday Season!

Best regards,

Herbjørn Hansson
Founder, Chairman & CEO