Slide 1: SFL Corporation Ltd. Q2 2021 presentation
SFL Corporation Ltd. Q2 2021 presentation August 18, 2021 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: Q2 2021 Highlights
Q2 2021 Highlights DIVIDEND • 70th consecutive quarterly dividend $0.15/share • 8.5% dividend yield(1) CHARTER HIRE(2) • Approximately 80% from long term charters $141m • Adjusted EBITDA(3) of $103m NET INCOME • Earnings per share of $0.16 $19.5m CHARTER BACKLOG(4) • Added more than $700m in 2021 $2
Slide 4: Recent Events
Recent Events NEWBUILD ORDER • Two additional newbuild LNG dual-fuel car carriers with 2024 delivery AND CHARTER • 10 year charters to a leading Asia-based transportation company ACQUISITION • Agreement to acquire two modern 14,000 TEU vessels AND CHARTER • Charter to Evergreen until 2023/2024 ACQUI
Slide 5: The SFL Shipping Portfolio (excl. Offshore Assets)
The SFL Shipping Portfolio (excl. Offshore Assets) SHIPPING PORTFOLIO(1) CONTRACTED REVENUE(2) Contract duration(3) 41 Liners 7.5 years 22 Dry bulk 6.8 years 7% 13% 9 Tankers 5.0 years CHARTER HIRE Q2 2021(4) $2.7bn Bareboat charter 16% 80% Time charter 84% Liners Dry bulk Tankers 1) Including partl
Slide 6: Continuously Diversifying Our Contracted Cash Flows
Continuously Diversifying Our Contracted Cash Flows 2021 additions Asia-based MSC Maersk Evergreen Marine Golden Ocean Volkswagen Group transportation Others1: company • World’s second • World’s largest • Container • Leading dry bulk • One of the • Large liner • Phillips 66 largest container contain
Slide 7: SFL Operational Performance
SFL Operational Performance ADJUSTED EBITDA Q2 2021 BREAKDOWN(1) In millions $12 ($40) $39 $1 $15 $142 $103 $75 Liner Tankers Dry bulk Offshore Gross charter Operating and Other income Adj. EBITDA hire (incl. G&A expenses profit share) 1) Pro-forma illustration of cash flow is not as accounted for u
Slide 8: Income Statement
Income Statement (in thousands of $ except per share data) Three months ended Jun 30, 2021 Mar 31, 2021 Q2 charter hire Charter revenues: operating lease 106,965 96,532 • $141 million, including share of Charter revenues: sales-type, direct financing and leaseback assets 6,188 9,976 revenue from ass
Slide 9: Balance Sheet
Balance Sheet (in thousands of $) Jun 30, 2021 Mar 31, 2021 Cash and cash equivalents ASSETS Short term • $372m at quarter end, excl. $8m Cash and cash equivalents 371,852 216,005 of cash in non-consolidated rig- Restricted cash 5,866 8,009 owning subsidiary Investment in marketable securities 22,80
Slide 10: Q2 2021 Summary
Q2 2021 Summary Investing in assets with lower carbon footprint $0.15 $372m Dividend per Cash and cash share equivalents $2.7bn fixed revenue backlog from shipping 70th Uplift from consecutive quarterly profit share dividend 10