CMB.TECH INVESTS IN CHINESE AMMONIA SUPPLY

16 Dec 2025 08:00 CET

ANTWERP, Belgium, 16 December 2025 – CMB.TECH NV (NYSE: CMBT, Euronext Brussels:
CMBT and Euronext Oslo Børs: CMBTO) (“CMBT”, “CMB.TECH” or “the Company”) is
pleased to announce the company is investing in the Chinese ammonia supply
chain. CMB.TECH has signed an off-take agreement for green ammonia produced by
CEEC Hydrogen Energy (“CEEC”) in Jilin Province and will own a minority share in
privately owned Jiangsu Andefu Energy Technology Co., Ltd. (“Andefu”) one of
China's largest ammonia supply chain companies.

Green ammonia produced in Jilin Province

CMB.TECH will purchase green ammonia produced in Jilin Province by the CEEC
Songyuan project under an off-take agreement[1]. In the first phase of the CEEC
Songyuan project, approximately 158,000 tonnes of renewable ammonia will be
produced annually. Construction of the project was completed at the end of
September 2025 and commercial operation is planned for January 2026.

The project is mainly powered by off-grid renewable energy and supported by
batteries and hydrogen buffer storage. CEEC appointed Bureau Veritas for the
certification audit, and the project obtained ISCC EU RFNBO certification on 2
December 2025.

Andefu, one of China's largest ammonia supply chain companies

CMB.TECH will also acquire a minority stake in Andefu, one of China’s largest
ammonia supply chain companies. This will create an industrial partnership
between two companies supporting maritime decarbonisation and the development of
a green ammonia supply infrastructure.

A subsidiary of Andefu, Jiangsu Andefu Storage Co., Ltd., is currently
constructing a 49,000 m³ low-temperature ammonia storage tank in Nanjing,
providing critical hub capacity for ammonia distribution and future marine fuel
applications. The storage tank is scheduled to be commissioned in Q1 2026.

In addition, Andefu, in cooperation with CEEC, will build an ammonia storage
terminal into operation in Panjin in the second half of 2027, significantly
enhancing China’s large-scale green ammonia logistics and supply capabilities.

Andefu is also advancing ship-to-ship (STS) ammonia bunkering operations,
targeting commercial deployment in 2026, to support the emerging global
ammonia-fuelled shipping fleet together with CMB.TECH.

CMB.TECH's ammonia-powered fleet

CMB.TECH will take delivery of 11 ammonia-powered ships next year. Ten
Newcastlemax bulkers (210,000 dwt) being built at Qingdao Beihai Shipyard and
one 1,400 TEU container vessel being built at China Merchants Industry Weihai
will deliver during 2026. The ships will be powered by a dual-fuel
diesel-ammonia main engine and carry ammonia as a fuel onboard. This will enable
the vessels to sail in dual fuel ammonia configuration for both propulsion and
other power requirements between ports.

Green ammonia as a shipping fuel

CMB.TECH believes green ammonia is a very promising solution to decarbonise
shipping. When used in combustion engines, it emits no CO₂. Green ammonia is
also expected to become cost-competitive compared to diesel thanks to the
falling cost of renewable energy, and the renewable energy storage and supply
systems (solar panels, windmills, batteries, electrolysers). 

CMB.TECH will continue to engage with producers of green ammonia worldwide to
source sufficient fuel for its green ships. Simultaneously, CMB.TECH’s ambition
is to produce green ammonia in Namibia.

Alexander Saverys, CEO of CMB.TECH: "Today marks a big milestone in our
decarbonisation journey. With an investment in the Chinese ammonia supply chain,
CMB.TECH will be able to provide green ammonia to its ships. It's another
important step towards the launch of our first ammonia-powered ships and
zero-emission maritime transportation. 2026 will be a very important year for
our company and our industry, as we hope to prove to the world that we can
decarbonise today to navigate tomorrow!"



Announcement Q4 2025 results – 26 February 2025

[1] This agreement is subject to customary conditions. 

About Andefu

Andefu, one of China’s largest ammonia supply chain companies, is a fully
integrated platform led by its group company, Jiangsu Andefu Energy Technology
Co., Ltd., with operations spanning ammonia production coordination, storage and
terminal operations, international and domestic trading, inland waterway
shipping, rail transportation, and road logistics — forming a comprehensive
“six-in-one” ammonia supply chain across China.

About CEEC

China Energy Engineering Group Hydrogen Energy Co., Ltd. is a wholly owned
subsidiary of China Energy Engineering Corporation Limited (CEEC), established
in Beijing in January 2022 with a registered capital of RMB 5 billion. It is the
largest and the only central state-owned enterprise platform dedicated to the
full hydrogen energy value chain.
The Company serves as CEEC’s integrated platform for hydrogen energy investment,
development, construction, and operation, covering hydrogen production, storage,
transportation, application, and research. Its core businesses include renewable
energy–based hydrogen production, hydrogen technology R&D, hydrogen storage and
logistics, comprehensive hydrogen utilization, and the development of
large-scale green hydrogen projects.

About CMB.TECH

CMB.TECH is one of the largest listed, diversified and future-proof maritime
groups in the world with a fleet of about 250 vessels: dry bulk vessels,  crude
oil tankers, chemical tankers, container vessels, offshore wind vessels and port
vessels. CMB.TECH also offers hydrogen and ammonia fuel to customers, through
own production or third-party producers.

CMB.TECH is headquartered in Antwerp, Belgium, and has offices across Europe,
Asia, United States and Africa.

CMB.TECH is listed on Euronext Brussels and the NYSE under the ticker symbol
“CMBT” and on Euronext Oslo Børs under the ticker symbol “CMBTO”.

More information can be found at https://cmb.tech

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides safe
harbour 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 harbour provisions of the Private
Securities Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbour 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
values, 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.

Contact

CMB.TECH
Katrien Hennin
Head of Marketing and Communications CMB.TECH
+32 499 39 34 70
katrien.hennin@cmb.tech

Joris Daman
Head of Investor Relations
Tel: +32 498 61 71 11
joris.daman@cmb.tech

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