Jonathan Chappell

Clement Mollins

Omar Nokta

Bendik Nyttingnes

Jaeyoung McGarry

John Chappell

Petter Haugen

Srude Morado

- Hafnia Limited has entered into a binding share purchase agreement to acquire approximately **14.45%** of TORM's issued share capital from Oaktree Capital Management, L.P..  **[1655891_6834733296fa4923b994b23d9f0c66a4_0]** 
- The acquisition involves approximately **14.1 million A shares** in TORM plc, priced at **US$22 per share**, for a total purchase price of **US$311,433,342**.  **[1655891_6834733296fa4923b994b23d9f0c66a4_0]** 
- Completion of the acquisition is subject to customary conditions, including obtaining required regulatory clearances and the appointment of a new independent board chair of TORM.  **[1655891_6834733296fa4923b994b23d9f0c66a4_0]** 
- Hafnia intends to explore strategic opportunities, including a potential business combination on a net asset value basis (NAV-for-NAV), with TORM, although discussions have not yet taken place and there is no assurance that this will lead to any transaction.  **[1655891_6834733296fa4923b994b23d9f0c66a4_0]** 
- TORM announced on **September 9, 2025**, that the UK City Code on Takeovers and Mergers does not apply to TORM.  **[1655891_6834733296fa4923b994b23d9f0c66a4_0]**

Hafnia Acquires Stake in TORM from Oaktree

- Hafnia Limited has entered into a preliminary agreement to acquire approximately **14.45%** of TORM's issued share capital from Oaktree Capital Management, L.P.  **[1655891_faccaf0052174abeb728a37cec13d31d_0]** 
- The acquisition involves **14.1 million A shares** of TORM, priced at **US$22 per share**, for a total purchase price of **US$311,433,342**.  **[1655891_faccaf0052174abeb728a37cec13d31d_0]** 
- Completion of the Share Purchase is subject to a definitive agreement, obtaining required regulatory clearances, and the appointment of a new independent board chair for TORM.  **[1655891_faccaf0052174abeb728a37cec13d31d_0]** 
- Hafnia views this as a sizeable investment in a well-managed company and believes that consolidation is generally positive for the tanker industry.  **[1655891_faccaf0052174abeb728a37cec13d31d_0]**

TORM: Hafnia to Acquire 14.45% Stake from Oaktree

TORM (TRMD)