November 9, 2026

Dear shareholders & investors,

I would like to share with you a snapshot of the cash our ships are earning in the current market.

The last 10 spot voyage fixtures of the NAT tankers have an average duration of 60 days with a Time Charter Equivalent (TCE) of about $144,000 per day per vessel.

The highest fixture is $347,000 per day and the lowest is $59,000 per day. These are mainly fixtures related to 4Q 2026. Short term aberrations are expected to continue.

Our cash operating costs are less than $10,000 per day per ship. About 50% of our vessels are currently in the spot market, the balance being employed on solid charters.

Based on the strength of the market for our tankers, I expect that NAT will continue to pay healthy dividends.

Numbers for the third quarter of 2026 will be released on Monday November 30, 2026.

Sincerely,

Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Ltd                                    www.nat.bm

Contacts:

Bjørn Giæver, CFO
Nordic American Tankers Ltd
Tel: +1 888 755 8391

Alexander Kihle, Finance Manager
Nordic American Tankers Ltd
Tel: +47 91 724 171