Slide 1: SFL Corporation Ltd. Q3 2022 presentation
SFL Corporation Ltd. Q3 2022 presentation November 14, 2022 1
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including SFL management's examination of historical operating trends, data contained in the Company’s re
Slide 3: Q3 2022 Highlights
Q3 2022 Highlights CHARTER HIRE(2) • Approximately 82% from long term charters $178m • Adjusted EBITDA(3) of $126m NET INCOME • Earnings per share of $0.39 $50m • $11m contribution from profit share agreements DIVIDEND • 75th consecutive quarterly dividend $0.23/share • 8.8% dividend yield(1) BACKLO
Slide 4: Recent Events
Recent Events ACQUISITION OF 4x • $250 million backlog with 6 year TC to Koch SUEZMAX TANKERS • All vessels delivered by early November ACQUISITION OF • Newbuildings with delivery from yard in Sep/Nov 2022 2x FEEDERS • ~$120m of backlog with 7 year TC to Maersk ACQUISITION OF • ~$65m of backlog with
Slide 5: The SFL Portfolio
The SFL Portfolio PORTFOLIO(1) CONTRACTED REVENUE(2) Contract duration(3) 36 Container 7.0 years 7% 18 Tanker 4.8 years 12% 7 Car carrier 9.2 years 13% $3.8bn 53% 2 Energy 6.3 years 15 Dry bulk 5.8 years 15% CHARTER HIRE Q3 2022(4) Bareboat charter 8% Container Tanker Car carrier Energy Dry bulk Tim
Slide 6: Portfolio Of Customers Continues To Strengthen
Portfolio Of Customers Continues To Strengthen Customers with new / add on business since 2021 • MSC, world’s • World’s second • World’s fifth • One of the • One of the • One of the • Leading liner • One of the • Leading Ro/Ro largest largest largest world’s largest largest world’s largest operator
Slide 7: SFL Operational Performance
SFL Operational Performance ADJUSTED EBITDA Q3 2022 BREAKDOWN(1) In millions $11 $27 ($54) $2 $42 $178 $126 $98 Liner (inc. Tankers Dry bulk Energy Gross charter Operating and Other income Adj. EBITDA car carriers) hire (incl. G&A expenses profit share) 1) Pro-forma illustration of cash flow is not
Slide 8: Income Statement
Income Statement (in thousands of $ except per share data) Three months ended Sep 30, 2022 Jun 30, 2022 Q3 income • $178 million of charter hire, Charter revenues: operating leases and revenue contracts 153,480 145,834 Charter revenues: sales-type, direct financing and leaseback assets (excluding ch
Slide 9: Balance Sheet
Balance Sheet (in thousands of $) Sep 30, 2022 Jun 30, 2022 Cash and cash equivalents ASSETS • $179m at quarter end Short term Cash and cash equivalents 178,682 223,816 Restricted cash - 5,714 Remaining capex Investment in marketable securities 9,332 20,734 Amount due from related parties 6,213 6,58
Slide 10: Q3 2022 Summary
Q3 2022 Summary $3.8bn fixed revenue backlog 75th $179m consecutive Cash and cash quarterly equivalents dividend $0.23 Dividend per share Uplift from profit share 10