Saga Tankers ASA :Summons to the Extraordinary General Meeting

(Oslo, 9 November 2018)

Reference is made to the stock exchange release of 7 November 2018, where Saga Tankers ASA ("Saga") disclosed its Q3 Finacial Results. The Board of Directors proposed to distribute a dividend of NOK 0.15 per share.

The Extraordinary General Meeting in Saga Tankers ASA will take place on 30 November 2018 at 10.00hrs (CET) at the premises of the Company at Sjolyst Plass 2, 6th floor in Oslo, Norway.

Shareholders may submit their votes electronically in advance. Please see the instructions in the notice. Please find the enclosed Notice of Extraordinary General Meeting.

The Notice and the corresponding attachments will be available on the company's webpage www.sagatankers.no under "Investor Relations".

Board of Directors has made a resolution to merge subsidiaries Saga Julie AS, Saga Unity AS, Saga Chelsea AS and Strata Marine & Offshore ASA with parent company Saga Tankers ASA. The purpose of the merger is to simplify the corporate structure within the group.

For further information please find the enclosed shareholders letter.

The documents will be available at the business premises of the company, c/o Ferncliff TIH AS, Sjølyst Plass 2, 0278 Oslo, Norway, and at the company's websites, www.sagatankers.com. The documents will be available as of Tuesday 13 November 2018.

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