Nordic American Offshore Ltd. entered into share purchase agreement with Scorpio Offshore Investments Inc. Scorpio purchased 11,754,748 of the company's common shares for an aggregate purchase price of $5.0 million resulting in the appointment of Mr. Emanuele Lauro as Chief Executive Officer of the company and Chairman of the Board, Mr. Robert Bugbee as President of the company and a Director on the Board, Mr. Cameron Mackey as Chief Operating Officer of the company and Mr. Filippo Lauro as Vice President of the company. Mr. Emanuele A. Lauro has served as the company's Chairman and Chief Executive Officer since December 2018. Mr. Lauro has also served as Chairman and Chief Executive Officer of Scorpio Tankers Inc. Mr. Robert Bugbee has served as a Director and President of the Company since December 2018.

He has also served as a Director and President of Scorpio Tankers. Mr. Cameron Mackey has served as the company's Chief Operating Officer since December 2018. He has also served as Chief Operating Officer of Scorpio Tankers since 2010.

Mr. Filippo Lauro has served as the company's Vice President since December 2018. He has also served as an executive officer of Scorpio Tankers with the title of Vice President since May 2015.