HAFNIA LIMITED: Fulfilment of all conditions precedent for the acquisition of 13.97% of TORM

18 Dec 2025 08:45 CET

Singapore, 18 December 2025

With reference to the stock exchange announcement published on 11 September
2025, Hafnia Limited ("Hafnia", the "Company", OSE ticker code: "HAFNI", NYSE
ticker code: “HAFN”) today announces that all conditions precedent required for
the completion of Hafnia's acquisition of approximately 14.1 million A-shares in
TORM plc (“TORM”, CSE ticker code: “TRMD A“, NASDAQ ticker code: “TRMD”), from
Oaktree Capital Management, L.P. and its affiliates (together, “Oaktree”) have
been satisfied.

Since 11 September 2025, TORM has announced to have increased its issued share
capital by 3,380,278 new A-shares. Consequently, Hafnia's acquisition of
approximately 14.1 million A-shares will represent approximately 13.97% of
TORM's issued share capital as per the date hereof.

Completion of the acquisition is expected to take place shortly.

Upon completion, Hafnia will hold approximately 13.97% of the issued share
capital of TORM.

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 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 between Hafnia and Oaktree, 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.

As announced on 11 September 2025, 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; potential adverse reactions or changes to business relationships
resulting from the announcement, pursuit or completion of a potential
transaction; uncertainties as to the timing of a potential transaction; adverse
effects on Hafnia’s share price resulting from the announcement, pursuit or
consummation of a potential transaction or any failure to complete a potential
transaction; competitive responses to the announcement or consummation of a
potential transaction; the risk that regulatory or other approvals required for
the consummation of a potential transaction are not obtained, or are obtained
subject to terms and conditions that are not anticipated; and any changes in
general economic and/or industry-specific conditions. Many of these factors are
beyond Hafnia’s control. Hafnia cautions investors that any forward-looking
statements made by Hafnia are not guarantees of future performance. Hafnia
disclaims any obligation to update any such factors or to announce publicly the
results of any revisions to any of the forward-looking statements to reflect
future events or developments. There can be no assurance that any discussions
will result in a proposal, agreement or transaction, nor as to the terms, timing
or likelihood of any such transaction proceeding.

Additional Information
This announcement is provided for informational purposes only and does not
constitute an offer to purchase or the solicitation of an offer to sell any
securities.

The distribution of this announcement in certain jurisdictions may be restricted
or affected by the laws of such jurisdictions. Accordingly, copies of this
announcement are not being, and must not be, mailed or otherwise forwarded,
distributed or sent in, into or from any such jurisdiction. Therefore, persons
who receive this announcement (including, without limitation, nominees, trustees
and custodians) and are subject to the laws of any such jurisdiction will need
to inform themselves about, and observe, any applicable restrictions or
requirements. Any failure to do so may constitute a violation of the securities
laws of any such jurisdiction. To the fullest extent permitted by applicable
law, Hafnia disclaims any responsibility or liability for the violations of any
such restrictions by any person.

More information:
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