Nordic American Tankers Ltd (NAT)

[Eurotradr]

Nordic American Tankers Ltd (NYSE: NAT) – A share buy-back has been decided

Hamilton, Bermuda March 18, 2020

Dear Shareholders,

As informed shareholders yesterday, we are in an extraordinarily strong tanker market with tanker rates ranging from USD 65,000 to USD 100,000 for individual contracts. The financial position of NAT is solid. NAT has an increasing cash flow. In view of the above main factors, the NAT Board has decided to establish a share buy-back program.

The program opens for NAT to buy its own stock. It may commence when NAT sees it fit. The program shall be in place the next 24 months as from March 19, 2020. It is a sound commercial undertaking to be able to buy back stock from time to time.

NAT may discontinue the share buy-back programme at any time. All aspects associated with such a program follow the rules of NYSE, SEC and other relevant agencies.

Best regards,

Herbjørn Hansson
Chairman & CEO
Nordic American Tankers Ltd. www.nat.bm