Slide 1: SFL Corporation Ltd. Q4 2025 Results Presentation
SFL Corporation Ltd. Q4 2025 Results Presentation 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: Recent Events & Highlights
Recent Events & Highlights Q4’25 key highlights 88th consecutive quarterly dividend of $0.20 per share $176m1 $109m2 $52 million net proceeds from the sale of two 2015 built Suezmax Gross revenue Adjusted EBITDA tankers, split between Q4 and Q1 $23 million investment in two 2020 built Suezmax tanker
Slide 4: A Leading Maritime Infrastructure Company
A Leading Maritime Infrastructure Company Portfolio1 Contract duration2 Contracted revenue3 30 Container 7.2 years 7% 11% Container 7 Car carrier 6.6 years 7% Tanker $3.7bn Car carrier Energy 16 Tanker 3.5 years 75% 2 Energy 3.0 years 2 Dry bulk < 1 year Investment grade (IG) 66% 34% Not rated or no
Slide 5: Operational Performance Highlights
Operational Performance Highlights Market Charter type1 Operating days2 Utilization3 Revenue OPEX4 Q4 2025 Q4 2025 Q4 2025 Q4 2025 Q4 2025 BB $81m $24m TC 2,267 99% Container 93% $26m $6m 641 100% Car carrier 100% $42m $15m 1,624 99% Tanker 100% $3m $2m 184 100% Dry bulk 100% $23m $21m 92 50% Energy
Slide 6: SFL Financial Performance
SFL Financial Performance Adjusted EBITDA Q4 2025 Breakdown1 $23m $3m -$67m $42m $26m $176m $109m $81m Container Car carriers Tanker Dry bulk Energy Gross charter hire Net operating and Adj. EBITDA (incl. profit share) G&A expenses Notes: (1) Not as accounted under US GAAP and including cash flow in
Slide 7: Income Statement
Income Statement Operating Revenue (in thousands of $ except per share data) Three months ended Dec 31, 2025 Sep 30, 2025 • $176m of operating revenues, including $1.2m of profit share Charter revenues: sales-type leases (excluding charter hire treated as Repayments) - 31 • Vessel charter hire of $1
Slide 8: Balance Sheet
Balance Sheet Cash and Liquidity (in thousands of $) Dec 31, 2025 Sep 30, 2025 • $151m cash and cash equivalents at quarter end ASSETS • Approximately $46m of undrawn credit lines Short term • Unencumbered assets of more than $300 million Cash and cash equivalents 150,829 278,231 Investment in marke
Slide 9: SFL Corporation – Summary
SFL Corporation – Summary $3.7bn Fixed revenue backlog 57 $151m Cash and cash Maritime assets equivalents $0.20 Dividend per share 9