With reference to the stock exchange announcement of 18 December 2025, in which
Hafnia Limited ("Hafnia", the "Company", OSE ticker code: "HAFNI", NYSE ticker
code: "HAFN") announced that all conditions precedent for completion of the
share purchase agreement (the "Share Purchase Agreement") entered into with
Oaktree Capital Management, L.P. and its affiliates (together, "Oaktree"), have
been satisfied, Hafnia is pleased to announce that completion of its acquisition
of approximately 14.1 million A shares in TORM plc ("TORM", CSE ticker code:
"TRMD A", NASDAQ ticker code: "TRMD") has now taken place.
The acquired TORM A-shares represent approximately 13.97% of TORM's issued share
capital as per the date hereof.
For further information regarding Hafnia's current plans and intentions with
respect to its investment in TORM, please refer to the Schedule 13D as filed
with the SEC today, available on
https://www.sec.gov/Archives/edgar/data/1815779/000114036125046373/xslSCHEDULE_1
3D_X01/primary_doc.xml.
For further information, please contact:
Sheena Williamson-Holt
Head of Communications and Branding
Direct: +45 33 699 190
Mobile: +45 24 78 85 88
swh@hafnia.com
* * *
About Hafnia Limited:
Hafnia is one of the world's leading tanker owners, transporting oil, oil
products and chemicals for major national and international oil companies,
chemical companies, as well as trading and utility companies.
As owners and operators of around 200 vessels, we offer a fully integrated
shipping platform, including technical management, commercial and chartering
services, pool management, and a large-scale bunker procurement desk. Hafnia has
offices in Singapore, Copenhagen, Houston, and Dubai and currently employs over
4000 employees onshore and at sea.
Hafnia is part of the BW Group, an international shipping group involved in oil
and gas transportation, floating gas infrastructure, environmental technologies,
and deep-water production for over 80 years.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Forward-Looking Statements
This announcement includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended (the "Securities Act"),
and Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements include, but are not limited to, statements regarding
the Share Purchase Agreement and the possibility of exploring a business
combination transaction with TORM, and statements containing words such as
"anticipate," "approximate," "believe," "plan," "estimate," "expect," "project,"
"could," "would," "should," "will," "intend," "may," "potential," "upside," and
other similar expressions. Statements in this announcement that are not
historical facts are forward-looking statements that are estimates reflecting
the best judgment of Hafnia based upon currently available information. Such
forward-looking statements are inherently uncertain, and shareholders and other
potential investors must recognise that actual results may differ materially
from Hafnia's expectations as a result of a variety of factors, including,
without limitation, those discussed below. The forward-looking statements in
this announcement are based upon various assumptions, many of which are based,
in turn, upon further assumptions, including, without limitation, management's
examination of historical operating trends, data contained in Hafnia's records
and other data available from unrelated parties.
Risks and uncertainties related to any potential transaction with TORM include,
but are not limited to, uncertainty as to whether Hafnia or TORM will pursue,
enter into or consummate a potential transaction