Company

Saga Tankers ASA, as a corporation based in Norway and listed on the Oslo Stock Exchange (Axess), follows corporate governance policy guidelines established by Norwegian authorities and regulations. The policy aims to ensure efficient management of and control over Saga Tankers' operations.


Management

Espen Lundaas

Chief Executive Officer and Chief Financial Officer

Mr Lundaas also serves as Chief Financial Officer in Ferncliff TIH II AS. Mr Lundaas has served various positions in the Ferncliff Group since 1999. Mr Lundaas has extensive corporate and board experience, including M&A, IPO, and has also been instrumental in strategy and business development processes in portfolio companies acquired by the Ferncliff Group. Mr Lundaas has broad offshore and shipping experience, both from engagement in SD Standard Drilling Plc and through investments in the Ferncliff Group. Mr Lundaas has extensive experience related to financial reporting, including both NGAAP and IFRS. He holds a Master of Business and Economics from the Norwegian School of Management with major in finance (1997-2001).

Board of Directors

Martin Nes

Chairman of the Board

Martin Nes currently serves as CEO in Ferncliff TIH AS. He also serves as Acting Chief Executive Officer in S.D. Standard Drilling Plc after having previously held the roles of Chairman in the same company. Mr. Nes has corporate experience from the shipping- and offshoreindustry and has broad experience from various companies and board positions. Mr. Nes has previously worked for the Norwegian law firm Wikborg Rein, both in their Oslo and London offices and for the shipping law firm Evensen & Co. Mr. Nes holds a law degree from the University of Oslo and a master of laws' degree from the University of Southampton, England.

Member of the Board of Directors since 17 December 2012.

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Øystein Stray Spetalen

Board Member

Chairman and owner of Ferncliff TIH AS. Mr. Spetalen is an independent investor. He has worked in the Kistefos Group as an investment manager, as corporate advisor in different investment banks and as a portfolio manager in Gjensidige Forsikring. Mr. Spetalen is a chartered petroleum's engineer from NTNU.

Member of the Board of Directors since 7 September 2012.

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Kristin Hellebust

Board Member

Kristin Hellebust currently serves as CEO and producer in Nordisk Film Shortcut AS, which provides post production services to feature films, commercials, television dramas and documentaries. She served as CEO and producer in Storm Studios AS from 2005 - 2015. Prior to that, she worked as a lawyer with the law firm Advokatfirmaet Selmer DA. Ms. Hellebust holds a Master of Law from the University of Oslo and has also attended several courses in business development. Ms. Hellebust is a Norwegian citizen and resides in Oslo,Norway.

Member of the Board of Directors since 27 March 2015.

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Yvonne Litsheim Sanvold

Board Member

Ms Sandvold is the Chief Operating Officer of Frognerbygg AS, and has extensive experience from the Norwegian real estate industry. Ms Sandvold currently serves on the Board of several private companies. She holds a degree in psychology from the University of Oslo. Ms Sandvold is a Norwegian citizen and resides in Oslo, Norway.

Member of the Board of Directors since 27 March 2015.

Corporate Governance

Saga Tankers ASA, as a corporation based in Norway and listed on the Oslo Stock Exchange (Axess), follows corporate governance policy guidelines established by Norwegian authorities and regulations. The policy aims to ensure efficient management of and control over Saga Tankers' operations.

Corporate Governance Policy

Compliance with the NUES guidelines


Code of ethics

Saga Tankers ASA has established a business code of ethics that applies to all entities controlled by the company and all personnel working for it. This code of ethics provides specific guidance to conduct and activities deemed permissible and/or obligatory, with respect to the company.

Business code of Ethics


Articles of Association