Leading Proxy advisor ISS supports all of the voting recommendations of Euronav’s Supervisory Board

03 Mar 2023 08:00 CET

LEADING PROXY ADVISOR ISS SUPPORTS ALL OF THE VOTING RECOMMENDATIONS OF
EURONAV’S SUPERVISORY BOARD

ANTWERP, Belgium, 03 March, 2023 – Euronav NV (“EURN” or “Euronav”) (NYSE: EURN
& Euronext: EURN) welcomes today’s announcement from leading independent proxy
advisory firm, Institutional Shareholder Services Inc. ("ISS"), which has
recommended
that the Company's shareholders vote IN LINE with the Euronav Supervisory
Board’s
recommendations at the special general shareholders’ meeting to be held on 23
March
2023.

Commenting on the ISS report, Euronav’s Supervisory Board said: "We are pleased
with
the support we have received from ISS, which has recommended that shareholders
SUPPORT ALL of the Supervisory Board’s voting recommendations. The backing of
ISS
further validates our position to maintain the current independent Supervisory
Board and
the continuity necessary to foster value creation for all stakeholders, while
adapting the
Supervisory Board’s composition to reflect the current shareholding structure of
Euronav.”

In supporting the Euronav Supervisory Board's recommendations, ISS's report
stated that
“the Euronav recommendation is an equitable compromise reflective of the current

ownership structure.”

With respect to CMB’s resolutions, ISS notes that “a vote AGAINST items 1.1 to
1.5 and
2.3 to 2.5 5 is warranted because CMB has not publicly disclosed a compelling
justification
for the complete overhaul of the board and CMB controlling the board is not
reflective of
CMB's current 25 percent shareholding.”

Euronav’s Supervisory Board strongly reiterates the following voting guidance
for the
upcoming special general shareholders’ meeting to:
CMB’s Resolution Euronav Supervisory Board’s Recommendation ISS Recommendation
1 Dismissal of members of the Supervisory Board
1.1 Termination of Mrs. Anne-Hélène Monsellato’s mandate AGAINST Euronav has
appropriate Supervisory Board to oversee the Company’s strategy AGAINST
1.2 Termination of Dr. Grace Reksten Skaugen’s mandate AGAINST AGAINST
1.3 Termination of Mr. Steven Smith’s mandate AGAINST AGAINST
1.4 Termination of Dr. Anita Odedra’s mandate AGAINST AGAINST
1.5 Termination of Mr. Carl Trowell’s mandate AGAINST AGAINST

2 Appointment of members of the Supervisory Board
2.1 Appointment of Mr. Marc Saverys (as representative of CMB) FOR Proportionate
representation in the boardroom FOR
2.2 Appointment of Mr. Patrick De Brabandere (as representative of CMB) FOR FOR
2.3 Appointment of Mrs. Julie De Nul (non-independent candidate) AGAINST Not
meeting independence criteria and candidates not additive to Euronav’s diverse
and experienced Supervisory Board AGAINST
2.4 Appointment of Mrs. Catharina Scheers (non-independent
candidate) AGAINST AGAINST
2.5 Appointment of Mr. Patrick Molis (non-independent
candidate) AGAINST AGAINST

3 Proxy for administrative formalities FOR FOR

Famatown’s Resolution Euronav Supervisory Board’s Recommendation ISS
Recommendation
4 Appointment of members of the Supervisory Board
4.1 Appointment of Mr. John Fredriksen (as representative of
Famatown) FOR Proportionate representation in the boardroom FOR
4.2 Appointment of Mr. Cato H. Stonex (as representative of Famatown) FOR FOR

In view of the record date of Thursday 09 March 2023, shareholders may not
reposition
shares between the Belgian Register and the U.S. Register during the period from

Wednesday 08 March 2023 at 8.00 a.m. (Belgian time) until Friday 10 March 2023
at 8.00
a.m. (Belgian time) (“Freeze Period”).

Further information related to the special general shareholders’ meeting on 23
March 2023,
including a revised proxy form and voting instructions are available on the
company’s
website at https://www.euronav.com/en/investors/legal-information/agm/2023/. The

practical formalities for participation in this meeting are described in the
revised convening
notice.
*
* *

Contact:
Brian Gallagher – Head of IR, Research and Communications & Management Board
member
Tel: +44 20 78 70 04 36
Email: IR@euronav.com

Special General meeting: Thursday 23 March 2023

About Euronav NV
Euronav is an independent tanker company engaged in the ocean transportation and
storage of crude oil. The
company is headquartered in Antwerp, Belgium, and has offices throughout Europe
and Asia. Euronav is listed
on Euronext Brussels and on the NYSE under the symbol EURN. Euronav employs its
fleet both on the spot and
period market. VLCCs on the spot market are traded in the Tankers International
pool of which Euronav is one of
the major partners. Euronav’s owned and operated fleet consists of 1 V-Plus
vessel, 41 VLCCs (with further one
under construction), 21 Suezmaxes (with a further five under construction) and 2
FSO vessels under long term
contract.

Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking
statements. The
Private Securities Litigation Reform Act of 1995 provides safe harbor
protections for
forward-looking statements in order to encourage companies to provide
prospective
information about their business. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or performance,
and
underlying assumptions and other statements, which are other than statements of
historical facts. The Company desires to take advantage of the safe harbor
provisions of
the Private Securities Litigation Reform Act of 1995 and is including this
cautionary
statement in connection with this safe harbor legislation. The words "believe",
"anticipate",
"intends", "estimate", "forecast", "project", "plan", "potential", "may",
"should", "expect",
"pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various
assumptions,
many of which are based, in turn, upon further assumptions, including without
limitation,
our management's examination of historical operating trends, data contained in
our
records and other data available from third parties. Although we believe that
these
assumptions were reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are difficult or
impossible to
predict and are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in our
view, could
cause actual results to differ materially from those discussed in the
forward-looking
statements include the failure of counterparties to fully perform their
contracts with us,
the strength of world economies and currencies, general market conditions,
including
fluctuations in charter rates and vessel vales, changes in demand for tanker
vessel
capacity, changes in our operating expenses, including bunker prices,
dry-docking and
insurance costs, the market for our vessels, availability of financing and
refinancing,
charter counterparty performance, ability to obtain financing and comply with
covenants
in such financing arrangements, changes in governmental rules and regulations or
actions
taken by regulatory authorities, potential liability from pending or future
litigation, general
domestic and international political conditions, potential disruption of
shipping routes due
to accidents or political events, vessels breakdowns and instances of off-hires
and other
factors. Please see our filings with the United States Securities and Exchange
Commission
for a more complete discussion of these and other risks and uncertainties.

More information:
Access the news on Oslo Bors NewsWeb site

584219_20230302- ISS Unanimously Support Euronav Board Recommendation.pdf