Ole Hjertaker Ole Hjertaker It's a good question. I would say, any aspect -- I would say, in our shop, anything is for sale at the right price, if we think about it's beneficial for shareholders. But generally, I would say that those vessels are trading in the market and, of course, we did sell -- we did own seven Handy size dry bulk vessels in the past and we sold them and what we believe was at -- optimistically sort of good timing. So, for now, we keep these vessels, we keep trading them, and they genera ...

RULE 13A-16 OR 15D-16 UNDER THE SECURITIES Par-la-Ville Place 14 Par-la-Ville Road Hamilton, HM 08, Bermuda -------------------------------------------------------------------------------- EXCHANGE ACT OF 1934 For the month of March 2023 Commission File Number: 001-32199 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SFL Corporation Ltd. -------------------------------------------------------------------------------- (Translation of registrant's name into English) FORM 6-K REPORT OF ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 OR [☒] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 [ ☐ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 20-F [ ☐ ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR [ ☐ ] SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

SFL Corporation Ltd. (NYSE:SFL) Q4 2022 Earnings Conference Call February 15, 2023 10:00 AM ET Company Participants Ole Hjertaker - Chief Executive Officer Aksel Olesen - Chief Financial Officer Trym Sjølie - Chief Operating Officer Conference Call Participants Greg Lewis - BTIG Ole Hjertaker Thank you. And welcome all to SFL’s Fourth Quarter Conference Call. I will start the call by briefly going through the highlights of the quarter, and following that, our CFO, Aksel Olesen, will take us through the fina ...

1 SFL Corporation Ltd. Q4 2022 presentation February 15, 2023 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 records and other data available from third parties. Although SFL believes that these assumptions were reasonable when made, because assumptions are inh ...

Financial Data and Key Metrics Changes - Total charter revenues for the quarter were $178 million, an increase of 8% compared to the second quarter [5] - EBITDA equivalent cash flow was approximately $126 million for the quarter, with a total of $489 million over the last 12 months [5] - Net income for the quarter was around $50 million, or $0.39 per share [5][34] - The announced dividend of $0.23 per share represents a dividend yield of approximately 8.8% [6] Business Line Data and Key Metrics Changes - The liner fleet generated gross charter hire of approximately $98 million, including about $10 million in profit share [26] - The tanker fleet generated approximately $42 million in gross charter hire, up from $35 million in the previous quarter [27] - The dry bulk fleet generated approximately $27 million in gross charter hire, including about $1.2 million of profit share [28] - Charter hire from drilling rigs was approximately $10 million, with expectations for full revenue from ConocoPhillips starting in the fourth quarter [29] Market Data and Key Metrics Changes - The fixed rate backlog increased to approximately $3.8 billion, providing strong cash flow visibility [7][25] - The charter backlog includes approximately $0.5 billion from 7 car carriers, with an average remaining charter term of about 4.7 years [26] Company Strategy and Development Direction - The company has shifted from a single asset class to a diversified fleet, with container vessels now representing the largest segment at 53% of the backlog [17] - The strategy focuses on maintaining a strong technical and commercial operating platform, allowing for a wider range of services to customers [21] - The company aims to retain more residual value in assets through time charters rather than bareboat charters, which benefits stakeholders [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market prospects for deepwater drilling rigs, particularly for 2024 and 2025 [15] - The company is considering upgrades to its rigs to enhance attractiveness for long-term contracts [16] - The management highlighted the importance of a conservative approach to financing, especially in light of rising interest rates [33] Other Important Information - The company has secured refinancing facilities for its vessels totaling $138 million and is in advanced discussions for additional financing [36][37] - The company has a book equity ratio of approximately 29% at the end of the quarter [37] Summary of Q&A Session - Due to technical issues, a question-and-answer session could not be conducted, and participants were encouraged to reach out via the company's website for any clarifications [39][40]

FORM 6-K Filing Information This section outlines SFL Corporation Ltd.'s August 2022 Form 6-K filing, detailing unaudited interim financials and F-3ASR incorporation [General Information](index=1&type=section&id=General%20Information) This Form 6-K report is filed by SFL Corporation Ltd. for the month of August 2022, indicating it is a foreign private issuer submitting under Form 20-F. It contains unaudited condensed interim financial statements and Management's Discussion and Analysis for the six months ended June 30, 2022 - SFL Corporation Ltd. is filing a Form 6-K as a foreign private issuer under Form 20-F for August 2022[1](index=1&type=chunk)[2](index=2&type=chunk) - The report includes unaudited condensed interim financial statements and Management's Discussion and Analysis for the six months ended June 30, 2022[5](index=5&type=chunk) [Incorporation by Reference](index=2&type=section&id=Incorporation%20by%20Reference) This Form 6-K report is incorporated by reference into SFL Corporation Ltd.'s Registration Statements on Form F-3ASR, specifically Registration No. 333-237971 (filed May 1, 2020) and Registration No. 333-264330 (filed April 15, 2022) - The Form 6-K is incorporated by reference into the Company's Registration Statements on Form F-3ASR (Registration No. 333-237971 and 333-264330)[6](index=6&type=chunk) Financial Statements This section presents SFL Corporation Ltd.'s unaudited condensed consolidated financial statements, including statements of operations, comprehensive income, balance sheets, cash flows, and changes in stockholders' equity for the interim period [Unaudited Condensed Consolidated Statements of Operations](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) SFL Corporation Ltd. reported significant growth in operating revenues and net income for the six months ended June 30, 2022, primarily driven by vessel acquisitions and gains from asset sales. Basic and diluted EPS also saw substantial increases year-over-year Key Operating Results (Six Months Ended June 30) | Metric | 2022 (in thousands of $) | 2021 (in thousands of $) | Change (%) | | :----------------------------------- | :----------------------- | :----------------------- | :--------- | | Total operating revenues | 305,686 | 225,890 | 35.3% | | Gain on sale of assets and termination of charters, net | 13,228 | — | N/A | | Total operating expenses | 183,280 | 140,644 | 30.3% | | Net operating income | 135,634 | 85,246 | 59.1% | | Net income | 104,429 | 51,009 | 104.7% | | Basic earnings per share | 0.82 | 0.43 | 90.7% | | Diluted earnings per share | 0.79 | 0.43 | 83.7% | - Net income more than doubled, increasing by **$53.4 million**, primarily due to higher operating revenues from vessel acquisitions and a **$13.2 million** gain on asset disposals[13](index=13&type=chunk)[197](index=197&type=chunk) [Unaudited Condensed Consolidated Statements of Comprehensive Income](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) The company's comprehensive income significantly increased for the six months ended June 30, 2022, driven by higher net income and positive fair value adjustments to hedging financial instruments Comprehensive Income (Six Months Ended June 30) | Metric | 2022 (in thousands of $) | 2021 (in thousands of $) | Change (%) | | :------------------------------------------ | :----------------------- | :----------------------- | :--------- | | Net income | 104,429 | 51,009 | 104.7% | | Fair value adjustments to hedging financial instruments | 13,677 | 5,497 | 148.8% | | Other comprehensive income, net of tax | 13,887 | 5,227 | 165.7% | | Comprehensive income | 118,316 | 56,236 | 110.4% | [Unaudited Condensed Consolidated Balance Sheets](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2022, SFL Corporation Ltd. experienced growth in total assets and stockholders' equity, alongside a notable increase in current liabilities, primarily due to a significant rise in short-term debt Key Balance Sheet Items (As of June 30, 2022 vs. December 31, 2021) | Metric | June 30, 2022 (in thousands of $) | December 31, 2021 (in thousands of $) | Change (%) | | :------------------------------------ | :-------------------------------- | :---------------------------------- | :--------- | | Total current assets | 330,968 | 250,316 | 32.2% | | Total assets | 3,589,799 | 3,459,297 | 3.8% | | Total current liabilities | 860,188 | 400,316 | 114.9% | | Total liabilities | 2,543,245 | 2,476,970 | 2.7% | | Total stockholders' equity | 1,046,554 | 982,327 | 6.5% | - Short-term debt and current portion of long-term debt increased significantly from **$302.8 million** to **$760.5 million**, contributing to the rise in current liabilities[19](index=19&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2022, SFL Corporation Ltd. saw increased cash flow from operations, a substantial increase in cash used for investing activities due to vessel acquisitions, and a decrease in cash provided by financing activities Cash Flow Summary (Six Months Ended June 30) | Metric | 2022 (in thousands of $) | 2021 (in thousands of $) | Change (%) | | :------------------------------------ | :----------------------- | :----------------------- | :--------- | | Net cash provided by operating activities | 166,707 | 124,956 | 33.4% | | Net cash used in investing activities | (106,008) | (23,726) | 347.6% | | Net cash provided by financing activities | 14,871 | 52,090 | -71.5% | | Net change in cash, restricted cash and cash equivalents | 75,570 | 153,320 | -50.7% | - Investing activities outflow increased significantly due to **$179.2 million** for vessel acquisitions and capital improvements, partially offset by **$83.3 million** from vessel sales[22](index=22&type=chunk)[230](index=230&type=chunk) - Financing activities saw a decrease in cash provided, mainly due to higher cash dividends paid and lower proceeds from shares issued, partially offset by a decrease in bond repurchases[22](index=22&type=chunk)[231](index=231&type=chunk) [Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Stockholders' equity increased for the six months ended June 30, 2022, primarily due to net income and fair value adjustments, despite dividend declarations and an accounting adjustment related to convertible notes Stockholders' Equity Changes (Six Months Ended June 30) | Metric | 2022 (in thousands of $) | 2021 (in thousands of $) | Change | | :------------------------------------ | :----------------------- | :----------------------- | :----- | | Total stockholders' equity (end of period) | 1,046,554 | 901,320 | +145,234 | | Net income | 104,429 | 51,009 | +53,420 | | Dividends declared | (53,250) | (35,713) | -17,537 | | Fair value adjustments to hedging financial instruments | 13,677 | 5,497 | +8,180 | | Impact of adoption of ASU 2020-06 | (1,578) | — | -1,578 | - The adoption of ASU 2020-06 on January 1, 2022, resulted in a cumulative effect adjustment of a **$4.3 million** increase to retained earnings and a **$5.9 million** reduction to additional paid-in capital, a net adjustment of **$1.6 million** to equity[26](index=26&type=chunk)[124](index=124&type=chunk) Notes to the Unaudited Condensed Consolidated Financial Statements This section provides detailed notes to the unaudited condensed consolidated financial statements, covering accounting policies, asset sales, EPS, financial instruments, debt, equity, related party transactions, and subsequent events [Interim Financial Data](index=9&type=section&id=Note%201:%20Interim%2

Financial Data and Key Metrics Changes - Total charter revenues for the quarter were $165 million, with EBITDA equivalent cash flow approximately $124 million, and net income around $57 million or $0.45 per share [5][28] - The announced dividend of $0.23 per share represents a 4.5% increase over the previous quarter's dividend, yielding around 8.7% based on the closing price [6][31] - The fixed rate backlog increased to approximately $3.7 billion, up from $3.6 billion in the previous quarter [7][14] Business Line Data and Key Metrics Changes - The liner fleet generated gross charter hire of approximately $89 million, with a backlog of approximately $2.4 billion and an average remaining charter term of about 4.9 years [20] - The tanker fleet generated approximately $35 million in gross charter hire, an increase from $30 million in the previous quarter, with net charter hire from these vessels at approximately $6.6 million [21] - The dry bulk fleet generated approximately $31 million in gross charter hire, including $1.4 million of profit share [22] Market Data and Key Metrics Changes - The company has seen a strong recovery in the offshore drilling market, with two harsh environment drilling rigs well-positioned to benefit from increased activity [32] - The tanker market is viewed as attractive, with a focus on acquiring Suezmax tankers [9][38] Company Strategy and Development Direction - The company aims to maintain a diversified fleet and has shifted from a single asset class to multiple counterparties, with container vessels now representing the largest segment at 54% of the backlog [14][16] - The strategy includes reinvesting in modern, fuel-efficient assets and maintaining a strong technical and commercial operating platform [17][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong liquidity position and ability to grow through acquisitions, particularly in the tanker market [37][38] - The company is focused on risk mitigation and evaluating deal opportunities across segments to ensure balanced investments [15][38] Other Important Information - The company recorded a gain of approximately $13 million from the sale of vessels during the quarter, contributing to the overall net income [5][28] - The company had a strong cash position of $224 million at the end of the quarter, with expectations to free up an additional $50 million from refinancing [11][29] Q&A Session Summary Question: Are there any particular assets that you see would be attractive sales to raise additional cash? - Management indicated that while everything is for sale at the right price, the main focus remains on long-term charters and servicing those assets [35] Question: Would the company prefer to invest in larger VLCCs or Suezmaxes given the attractive tanker cycle? - Management stated that they would consider any sector based on transaction structure and risk management, emphasizing the importance of strong counterparties [38]

1 SFL Corporation Ltd. Q2 2022 presentation August 17, 2022 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 records and other data available from third parties. Although SFL believes that these assumptions were reasonable when made, because assumptions are inher ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 2022 Commission File Number: 001-32199 SFL Corporation Ltd. (Translation of registrant's name into English) Par-la-Ville Place 14 Par-la-Ville Road Hamilton, HM 08, Bermuda (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under co ...