With reference to the stock exchange announcement of 3 September 2025, Hafnia Limited (“Hafnia“, the “Company“, OSE ticker code: “HAFNI“, NYSE ticker code: “HAFN”) announces that it has entered into a binding share purchase agreement (the “Share Purchase Agreement”) with Oaktree Capital Management, L.P. and its affiliates (together, “Oaktree”), to acquire approximately 14.1 million A shares in TORM plc (“TORM”, CSE ticker code: “TRMD A“, NASDAQ ticker code: “TRMD”), representing approximately 14.45% of TORM's issued share capital. The A shares are priced at US$ 22 per share for a total purchase price of US$ 311,433,342.

Completion of Hafnia's acquisition of the shares from Oaktree is subject to the fulfilment of customary conditions precedent, including among others, obtaining any required regulatory clearances and approvals, satisfaction of certain covenants and appointment of a new independent board chair of TORM.

Upon completion Hafnia will hold approximately 14.45% of issued share capital in TORM.

Hafnia is pleased to be making this sizeable investment in TORM. Following market reports referring to the possibility of a business combination on a net asset value basis (NAV-for-NAV), Hafnia agrees that it is to the benefit of shareholders in both companies to explore such strategic opportunities. However, discussions have yet to take place and there can be no assurance that this will lead to any transaction.

Hafnia duly notes TORM's announcement of 9 September 2025 that the UK City Code on Takeovers and Mergers does not apply to TORM.

Hafnia Limited press release