Share Buyback
SHARE BUYBACKANTWERP, Belgium, 22 March 2024 - Euronav NV (NYSE: EURN & Euronext: EURN) ("Euronav" or the "Company") announces that the Company has purchased on theNYSE and on Euronext Brussels a total of 4.719.534 of its own shares.
Following these transactions, the Company now owns 22.510.249 shares (10.23%ofthe total outstanding share count).
Further details on these transactions are as follows:
Shares repurchased on Euronext BrusselsTransaction date Quantity Average Price Total price 21 March 2024 3,015,000 EUR 13.9995 EUR 42,208,492.5022 March 2024 328,781 EUR 15,0095 EUR 4,934,838Total 3,343,781 EUR 14,0627 EUR 47,022,731
Shares repurchased on the NYSE Transaction date Quantity Average Price Total price21 March 2024 1,295,753 USD 15.846 USD 20,532,502.04 22 March 2024 80,000 USD 16.1926 USD 1,295,408Total 1,375,753 USD 15.866 USD 21,827,910
The Supervisory Board has authorised the Management Board to repurchase up to10
million shares at a maximum purchase price per share of 17.86* with a termfrom21 March 2024 to 28 June 2024. The company will therefore retain the option torepurchaseshares going forward and will monitor market conditions before deciding whether toproceed with share repurchases, taking into account various factors, including regulatoryorlegal requirements and other corporate considerations.
The Supervisory Board and Management Board believe that this affirmativeactioncreates long-term value for all stakeholders given the significant disconnect betweenequity valueand net asset value at present and reflects the strength of Euronav's balancesheet and the confidence of Supervisory Board and Management Board in the long-termvaluein the Company's shares.
*It should be noted that any dividend or other distribution paid should bededucted from this amount as of the ex-dividend date.
** *
Contact:Head of Marketing & Communications - Katrien HenninTel: +32 499393470Email: katrien.hennin@cmb.be
Announcement final year results - 4 April 2024 About Euronav NV & CMB.TECHEuronav and CMB.TECH together represent a group with around 150 ocean-goingvessels (including newbuildings) in dry bulk, container shipping, chemical tankers, offshore wind and oiltankers. The group focuses on large marine and industrial applications on hydrogen or ammonia. They also offerhydrogen and ammonia fuel to customers, through own production or third-party producers. The company isheadquartered in Antwerp, Belgium, and has offices across Europe and Asia.
Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN.
Euronav plans to change the group's name to CMB.TECH. Euronav will remain theoil tanker shipping company within the group.
Forward-Looking StatementsMatters discussed in this press release may constitute forward-lookingstatements. The Private Securities Litigation Reform Act of 1995 provides safe harbourprotections for forward-looking statements in order to encourage companies to provideprospective information about their business. Forward-looking statements includestatements concerning plans, objectives, goals, strategies, future events or performance,and underlying assumptions and other statements, which are other than statementsof historical facts. The Company desires to take advantage of the safe harbourprovisions of the Private Securities Litigation Reform Act of 1995 and is including thiscautionary 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-lookingstatements.
The forward-looking statements in this press release are based upon variousassumptions, many of which are based, in turn, upon further assumptions, including withoutlimitation, our management's examination of historical operating trends, data contained inour records and other data available from third parties. Although we believe thatthese assumptions were reasonable when made, because these assumptions areinherently subject to significant uncertainties and contingencies which are difficult orimpossible to predict and are beyond our control, we cannot assure you that we will achieveor
accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in ourview, could cause actual results to differ materially from those discussed in theforward-looking statements include the failure of counterparties to fully perform theircontracts with us, the strength of world economies and currencies, general market conditions,including fluctuations in charter rates and vessel values, changes in demand for tankervessel capacity, changes in our operating expenses, including bunker prices,dry-docking and insurance costs, the market for our vessels, availability of financing andrefinancing, charter counterparty performance, ability to obtain financing and comply withcovenants in such financing arrangements, changes in governmental rules and regulationsoractions taken by regulatory authorities, potential liability from pending or futurelitigation, general domestic and international political conditions, potential disruption ofshipping routes due to accidents or political events, vessels breakdowns and instances ofoff-hiresand other factors. Please see our filings with the United States Securities and ExchangeCommission for a more complete discussion of these and other risks and uncertainties.
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