SFL Corp Ltd美股招股说明书(2025-11-21版)

DIVIDEND REINVESTMENT PLAN 10,000,000 Common Shares, $0.01 Par Value We are an international ship owning and chartering company with a large and diverse asset base across the maritime, shippingand offshore asset classes and business sectors.With this prospectus supplement, we are offering you the opportunity to participate inour Dividend Reinvestment Plan, or the “Plan.” The Plan allows our existing shareholders to increase their holdings of our commonshares and gives new investors an opportunity to make an initial investment in our common shares. PLAN HIGHLIGHTS •If you are an existing shareholder, you may purchase additional common shares by reinvesting all or a portion of thedividends paid on your common shares and by making optional cash investments of not less than $100 each and up to amaximum of $10,000 per month. In some instances, we may permit optional cash investments in excess of thismaximum.•If you are a new investor, you may join the Plan by making an initial investment of not less than $250 and up to amaximum of $10,000. In some instances, we may permit initial investments in excess of this maximum.•As a participant in the Plan, you may authorize electronic deductions from your bank account for optional cashinvestments.•We may offer discounts ranging from 0% to 5% on optional and initial cash investments that are made pursuant to arequest for waiver (i.e., on investments that are in excess of $10,000). At our discretion the discount may be offered atvariable rates on one, all or a combination of the sources of investments or not at all. Investing in our common shares involves risks. You should consider certain risk factors before enrolling in the Plan.See “Risk Factors” on page S-4 of this prospectus supplement and the documents incorporated herein by reference for moreinformation. We suggest you retain this prospectus supplement for future reference. Our common shares are listed on the New York Stock Exchange under the symbol “SFL.” The last reported sales price of ourcommon shares on November 20, 2025 was $8.10. NEITHERTHE U.S.SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIESCOMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ACCURACYOR ADEQUACY OF THISPROSPECTUS SUPPLEMENT. ANY REPRESENTATION TO THE CONTRARY IS ACRIMINAL OFFENSE. The date of this prospectus supplement is November 21, 2025. TABLE OF CONTENTS Prospectus Supplement ABOUT THIS PROSPECTUS SUPPLEMENTS-1CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTSS-1RISK FACTORSS-4ENFORCEMENT OF CIVIL LIABILITIESS-6WHERE YOU CAN FIND ADDITIONAL INFORMATIONS-6THE COMPANYS-8DESCRIPTION OF THE PLANS-81.What is the Plan?S-82.What features does the Plan offer?S-83.Who is the Plan Administrator and what does the Plan Administrator do?S-94.How do I contact the Plan Administrator?S-95.How do I enroll in the Plan if I am an existing shareholder and my common shares are registered in my name?S-106.My shares are held in “street name.” How do I enroll in the Plan if I am an existing shareholder and my commonshares are registered in the name of my broker, bank or other nominee?S-107.How do I enroll if I am not currently a shareholder?S-108.What are the fees associated with participation?S-119.What are my options for additional cash investments once I am enrolled in the Plan?S-1110.What are my reinvestment options?S-1211.Request for Waiver for Optional Monthly Cash Investments and Initial Investments in Excess of $10,000S-1312.Purchases and Pricing of Common Shares Purchased Pursuant to a Request for WaiverS-1313.Pricing Period Extension FeatureS-1414.When are dividends paid?S-1415.When does the Plan Administrator purchase common shares?S-1516.How does the Plan Administrator purchase the common shares?S-1517.At what price will the Plan Administrator purchase the common shares?S-1618.May I enroll, view my account information, and execute transactions online?S-1619.What kind of reports will I receive as a participant in the Plan?S-1720.Will I receive share certificates for my Plan shares?S-1721.Can I deposit share certificates for safekeeping?S-1722.How do I sell my Plan shares?S-1723.How do I discontinue participation in the Plan?S-1824.What happens if I sell or transfer all the common shares registered in my name and held by me?S-1925.How do I transfer shares or give them as gifts?S-1926.What happens if we declare a dividend payable in common shares or declare a stock split?S-1927.How will my common shares held by the Plan Administrator be voted at meetings of shareholders?S-1928.Limitation of LiabilityS-20USE OF PROCEEDSS-20UNITED STATES FEDERAL INCOME TAX CONSEQUENCESS-20PLAN OF DISTRIBUTIONS-22EXPENSESS-23EXPERTSS-23LEGAL MATTERSS-23 Base Prospectus ABOUT THIS PROSPECTUSiiPROSPECTUS SUMMARY1CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS5RISK FACTORS9USE OF PROCEEDS10CAPITALIZATION11ENFORCEABILITY OF CIVIL LIABILITIES12DESCRIPTION OF SHARE CAPITAL13DESCRIPTION OF DEBT SECURITIES17DESCRIP