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Nordic American Tankers Limited ( NYSE : NAT ) - Report as per June 30 , 2026 - The direction of NAT is unquestionably upwards - rates & values are up Thursday , August 27 , 2026 TO SHAREHOLDERS AND INVESTORS , IN OUR REPORT TO YOU A SHORT WHILE AGO , WE DESCRIBED HOW NORDIC AMERICAN TANKERS LTD ( NAT ) FARED THIS SUMMER . SUMMARY : WE SUCCEEDED IN GETTING THREE OF OUR NAT SHIPS THROUGH THE HORMUZ STRAIT , LEAVING THE AREA . THE THREE SHIPS HAD BEEN STUCK IN THE ARABIAN GULF SINCE FEBRUARY 28TH , 2026 , WHEN HOSTILITIES BETWEEN IRAN AND THE US BEGAN . TWO OF THE SHIPS ARE NOW TRADING INTERNATIONALLY AND ONE , BUILT IN 2003 , HAS BEEN SOLD AT USD 26 MILLION . OUR HORMUZ ACTION WAS ESSENTIAL AND SOLVED A SERIOUS PROBLEM ON OUR HANDS . NAT IS IN THE BEST MARKET THAT WE HAVE SEEN FOR DECADES . THE VESSELS COLLECT IN THE RANGE OF USD 60,000 - USD 90,000 A DAY IN THE SPOT MARKET , SOMETIMES EVEN MORE . THE MAJOR OIL COMPANIES ARE OUR MAIN CUSTOMERS . OPERATING COSTS ARE BELOW USD 10,000 / DAY , RESULTING IN A SUBSTANTIAL ACCUMULATION OF CASH , WHICH NOW STANDS AT USD 175 MILLION . A MONTH AGO , A NAT SHIP WAS ATTACKED IN THE BLACK SEA , BUT WE MANAGED TO GET AWAY , AND THE VESSEL IS OUT OF DANGER . The safety of THE CREW IS ALWAYS OUR MAIN CONCERN . AS A POLICY WE ENSURE THAT BANKS DO NOT INFLUENCE OUR BUSINESS . PRESENTLY , NAT HAS THE FINANCIAL PARTNERS A ) DALLAS BASED BEAL BANK AND B ) OCEAN YIELD . ALTHOUGH WE ARE ONLY HALFWAY THROUGH THE YEAR , 2026 PROMISES TO BE THE BEST YEAR FOR NAT SINCE IT WAS FIRST LISTED ON THE STOCK EXCHANGE IN 1995 . HIGHLIGHTS : 1. THE DIVIDEND FOR Q2 2026 IS 27 CENTS ( $ 0.27 ) PER SHARE , UP FROM 22 CENTS IN THE PREVIOUS QUARTER . THIS IS THE 116TH CONSECUTIVE QUARTERLY CASH DIVIDEND SINCE NAT BECAME STOCK LISTED SEPTEMBER 15 , 1996. DIVIDEND IS PAYABLE SEPTEMBER 24 , 2026 , TO SHAREHOLDERS ON RECORD AS OF SEPTEMBER 10 , 2026 . 2. THE TIME CHARTER EQUIVALENT ( TCE ) FOR OUR SHIPS CAME IN AT $ 63,000 PER DAY PER SHIP DURING THE SECOND QUARTER . THIS COMPARES WITH $ 47,600 PER DAY PER SHIP IN THE PREVIOUS QUARTER . THIRD QUARTER BOOKINGS CONTINUE THE STRONG TREND WITH ABOUT 75 % OF OUR FLEET BOOKED AT ABOUT $ 54,000 PER DAY PER SHIP . 3. THE NET RESULT FOR THE SECOND QUARTER 2026 WAS $ 68.3 MILLION COMPARED TO THE PREVIOUS QUARTER THAT PRODUCED A NET RESULT OF $ 46.3 MILLION . 4. GEOPOLITICAL UNCERTAINTY WE SEE NOW IS NOT A NEW FEATURE IN OUR BUSINESS . WE EXPECT THAT THIS UNCERTAINTY WILL CONTINUE . WE BELIEVE DEMAND FOR OUR SERVICES WILL CONTINUE TO BE STRONG . OVER THE LAST FIVE YEARS OUR VESSELS HAVE LOADED / DISCHARGED IN 68 COUNTRIES , PROVIDING US WITH SOME INSIGHT INTO GLOBAL AFFAIRS . 5. THE TOP QUALITY OF THE NAT VESSELS IS REFLECTED IN THE VETTING PERFORMANCE ( THE SCORE CARD ) UNDERTAKEN BY THE MAJOR OIL COMPANIES . THEY LEASE ABOUT 50 % OF OUR VESSELS . AS PER JUNE 30 , 2026 , THE NAT FLEET CONSIST OF 17 VESSELS . WE HAVE TWO SHIPS ON ORDER . 6. THANKS TO CAREFUL VOYAGE PLANNING OF OUR VESSELS , EMISSIONS ARE REDUCED . PROSPECTS FOR NAT ARE EXCELLENT . PLEASE SEE THE ENCLOSED COMPREHENSIVE REPORT FOR FURTHER INFORMATION . SINCERELY , HERBJØRN HANSSON FOUNDER , CHAIRMAN & CEO NORDIC AMERICAN TANKERS LTD Our Fleet As of June 30 , 2026 , our fleet consisted of 17 well maintained Suezmax tankers and two newbuildings on order for delivery in 2028 .