MANDATORY NOTIFICATION OF TRADE – ØYSTEIN STRAY SPETALEN

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").

Øystein Stray Spetalen, director and primary insider, has on 20 October 2020 acquired 11,538,000 shares in the Company in the Private Placement at a price of NOK 1.30 per share through his controlled company Tycoon Industrier AS.

After the transaction, Øystein Stray Spetalen and associated companies have a holding of 184,379,799 shares in the Company.

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