Overseas Shipholding Group Announces Annual Meeting of Stockholders Remote Participation

Overseas Shipholding Group, Inc. OSG (the "Company" or "OSG") announced today that, due to concerns regarding the coronavirus pandemic, the Annual Meeting of Stockholders will be held virtually on Thursday, May 28, 2020 at 8:30 a.m. Eastern Time ("ET") and that stockholders will not be able to attend the meeting in person. Any stockholder wishing to participate in the Annual Meeting may do so by means of remote communication. To participate in the Annual Meeting of Stockholders remotely, dial (844) 850-0546 for domestic callers and (412) 317-5203 for international callers. Please dial in ten minutes prior to the start of the call. Stockholders and other interested parties can listen to a live webcast of the Meeting from the Investor Relations section of the Company's website at www.osg.com.

As noted in our Proxy Statement for the Meeting, it is possible to vote by telephone or over the Internet, and we urge you to vote as soon as possible by either of these methods. A stockholder who wishes to vote on the date of the Annual Meeting or who wishes to change his or her vote may do so by sending an email to Investor-Relations@osg.com and attaching either your proxy card or your voting instruction form and the legal proxy provided by your bank, broker or other nominee. Your email must be submitted by 8:40 a.m. ET on Thursday, May 28, 2020. This information is necessary in order for your vote to be validated and counted.

An audio replay of the Annual Meeting of Stockholders will be available starting at 10:00 a.m. ET on Thursday, May 28, 2020 by dialing (877) 344-7529 for domestic callers and (412) 317-0088 for international callers and entering Access Code 10141999.

About Overseas Shipholding Group, Inc.

Overseas Shipholding Group, Inc. OSG is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG's 21 vessel U.S. Flag fleet consists of three crude oil tankers doing business in Alaska, one conventional ATB, two lightering ATBs, three shuttle tankers, ten MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program. OSG also currently owns and operates two Marshall Islands flagged MR tankers which trade internationally. In addition to the currently operating fleet, OSG has on order two Jones Act compliant barges which are scheduled for delivery in 2020.

OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world's most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.

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