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    Clement Mollins • Value Investor's Edge

    Clement Mollins's questions to Torm PLC (TRMD) leadership

    Clement Mollins's questions to Torm PLC (TRMD) leadership • Q2 2025

    Question

    Clement Mollins from Value Investor's Edge followed up on the cash breakeven discussion, asking about the margin difference between the sale-and-leasebacks being repurchased and the new financing facilities. He also requested the specific selling price for the two recently divested 2008-built vessels.

    Answer

    CFO Kim Balle advised looking at the company's 20-F filing for details on leasing arrangements but confirmed the new financing rates are 'significantly lower' than the current syndicated facilities. Management declined to disclose the selling price for the divested vessels, citing a confidentiality agreement with the buyer.

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    Clement Mollins's questions to Torm PLC (TRMD) leadership • Q2 2024

    Question

    Clement Mollins of Value Investor's Edge inquired about the outlook for Chinese gasoline and diesel demand, asking when it might plateau due to the increasing adoption of EVs and LNG-powered vehicles. He also questioned the capacity of China's infrastructure to support this transition.

    Answer

    Executive Jacob Meldgaard responded that TORM is more focused on the impact on international trade flows than on China's internal energy consumption. He stated that from a product tanker perspective, the shift to EVs and LNG is not currently viewed as a negative driver for the market, as refinery import/export balances remain the key factor.

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