TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM's incentive program

14 Mar 2025 09:31 CET

TORM plc (Nasdaq: TRMD or TRMD A) has increased its share capital by 175,463 A
-shares (corresponding to a nominal value of USD 1,754.63) as a result of the
exercise of a corresponding number of Restricted Share Units.

All new shares are subscribed for in cash at DKK 0.08 per A-share.

Transfer restrictions may apply in certain jurisdictions outside Denmark,
including applicable US securities laws. The capital increase is carried out
without any pre-emption rights for existing shareholders or others.

The new shares (i) are ordinary shares without any special rights and are
negotiable instruments, (ii) give the right to dividends and other rights in
relation to TORM as of the date of issuance and (iii) are expected to be
admitted to trading and official listing on Nasdaq Copenhagen as soon as
possible.

After the capital increase, TORM's share capital amounts to USD 979,985.16
divided into 97,989,514 A-shares of USD 0.01 each, one B-share of USD 0.01 and
one C-share of USD 0.01. A total of 97,989,514 votes are attached to the A
-shares. The B-share and the C-share have specific voting rights.

Contact

Mikael Bo Larsen, Head of Investor Relations

Tel.: +45 5143 8002

About TORM

TORM is one of the world's leading carriers of refined oil products. TORM
operates a fleet of product tanker vessels with a strong commitment to safety.
environmental responsibility and customer service. TORM was founded in 1889 and
conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen
and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For
further information, please visit www.torm.com.

Safe Harbor Statement as to the Future

Matters discussed in this 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
reflect our current views with respect to future events and financial
performance and may include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying assumptions and other
statements, which are statements 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. Words such as, but
not limited to, "expects," "anticipates," "intends," "plans," "believes,"
"estimates," "targets," "projects," "forecasts," "potential," "continue,"
"possible," "likely," "may," "could," "should" and similar expressions or
phrases may identify forward-looking statements.

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

Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include, but
are not limited to, our future operating or financial results; changes in
governmental rules and regulations or actions taken by regulatory authorities;
inflationary pressure and central bank policies intended to combat overall
inflation and rising interest rates and foreign exchange rates; general domestic
and international political conditions or events, including "trade wars" and the
war between Russia and Ukraine, the developments in the Middle East, including
the war in Israel and the Gaza Strip, and the conflict regarding the Houthis'
attacks in the Red Sea; international sanctions against Russian oil and oil
products; changes in economic and competitive conditions affecting our business,
including market fluctuations in charter rates and charterers' abilities to
perform under existing time charters; changes in the supply and demand for
vessels comparable to ours and the number of newbuildings under construction;
the highly cyclical nature of the industry that we operate in; the loss of a
large customer or significant business relationship; changes in worldwide oil
production and consumption and storage; risks associated with any future vessel
construction; our expectations regarding the availability of vessel acquisitions
and our ability to complete acquisition transactions planned; availability of
skilled crew members other employees and the related labor costs; work stoppages
or other labor disruptions by our employees or the employees of other companies
in related industries;  effects of new products and new technology in our
industry;  new environmental regulations and restrictions; the impact of an
interruption in or failure of our information technology and communications
systems, including the impact of cyber-attacks, upon our ability to operate;
potential conflicts of interest involving members of our Board of Directors and
Senior Management; the failure of counterparties to fully perform their
contracts with us; changes in credit risk with respect to our counterparties on
contracts; adequacy of insurance coverage; our ability to obtain indemnities
from customers; changes in laws, treaties or regulations; our incorporation
under the laws of England and Wales and the different rights to relief that may
be available compared to other countries, including the United States;
government requisition of our vessels during a period of war or emergency; the
arrest of our vessels by maritime claimants; any further changes in U.S. trade
policy that could trigger retaliatory actions by the affected countries; the
impact of the U.S. presidential and congressional election results affecting the
economy, future government laws and regulations and trade policy matters, such
as the imposition of tariffs and other import restrictions; potential disruption
of shipping routes due to accidents, climate-related incidents, adverse weather
and natural disasters, environmental factors, political events, public health
threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to
storage and receiving facilities; potential liability from future litigation and
potential costs due to environmental damage and vessel collisions; and the
length and number of off-hire periods and dependence on third-party managers.

In the light of these risks and uncertainties, undue reliance should not be
placed on forward-looking statements contained in this release because they are
statements about events that are not certain to occur as described or at all.
These forward-looking statements are not guarantees of our future performance,
and actual results and future developments may vary materially from those
projected in the forward-looking statements.

Except to the extent required by applicable law or regulation, the Company
undertakes no obligation to release publicly any revisions or updates to these
forward-looking statements to reflect events or circumstances after the date of
this release or to reflect the occurrence of unanticipated events. Please see
TORM's filings with the U.S. Securities and Exchange Commission for a more
complete discussion of certain of these and other risks and uncertainties. The
information set forth herein speaks only as of the date hereof, and the Company
disclaims any intention or obligation to update any forward-looking statements
as a result of developments occurring after the date of this communication.

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