Stainless Tankers – Exercise of warrants

Issuer

Stainless Tankers ASA

Stainless Tankers - Exercise of warrants

5 September 2025 - Reference is inter alia made to Stainless Tankers ASA's (the
"Company") note 19 in the Company's Annual Report for the financial year 2024
and the financial report for the three-month period ended 30 June 30 2025, where
it is noted that 1/3 of 1,012,500 warrants (Nw.: frittstående tegningsretter),
comprising in total 337,500 warrants, issued to Tufton LP, has vested.

The Company's chair of the Board has today received notice from the warrant
holder of its exercise of the 337,500 vested warrants.

Each vested warrant gives the warrant holder the right to require the issuance
of one new share in the Company at a subscription price of the NOK equivalent of
USD 5, reduced on a NOK-for-NOK basis for any dividend and/or capital
distribution per share paid by the Company in the period from the issuance date
of the warrants until the exercise date (the "Exercise Price"). The USD/NOK
exchange rate to be used for calculating the NOK equivalent of the USD 5
subscription price is USD/NOK 10.3318.

The Company has the discretion to settle any exercised warrants, in whole or in
part, through the payment to the warrant holder of a cash amount equal to the
number of exercised warrants times the difference between the Exercise Price and
the share price on the date of the exercise.

The Company must notify the warrant holder within 10 calendar days after having
received the notice of exercise whether it wants to utilize its right to settle
the warrants, in whole or in part, through a cash payment. The Company will
announce its method of settlement of the warrants when resolved.

For more information, please contact:

Andrew Hampson, CEO
E-mail: [email protected]

Irene Michael, CFO
E-mail: [email protected]

About Stainless Tankers ASA | www.stainlesstankers.com

Stainless Tankers ASA is a shipping company specialized in providing seaborne
transportation of chemical cargoes worldwide. The Company provides investors
with pure-play stainless steel chemical tanker exposure in an investor friendly
structure through its fleet of six stainless steel vessels, each with an
approximate total carrying capacity of 20,000dwt. The fleet is managed by Tufton
Management Limited, with a primary focus on maximizing earnings and distributing
excess operating cashflow to shareholders.

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