Mandatory Notification of Trade – Espen Lundaas

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Reference is made to the stock exchange notice from Saga Tankers ASA (the "Company") dated 20 October 2020 regarding completion of a private placement of new shares in the Company (the "Private Placement").

EL Investment AS, a company controlled by CEO and primary insider of the Company, Espen Lundaas, has on 20 October 2020 acquired 850,000 shares in the Company in the Private Placement at a price of NOK 1.30 per share.

After the transaction, Espen Lundaas and associated companies have a holding of 1,850,000 shares in the Company.

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