Euronav responds to termination of combination agreement by Frontline

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Euronav NV notes the announcement that Frontline plc has unilaterally decided to terminate the combination agreement between the two companies signed 10 July 2022 and confirms to have received a letter pursuing such termination.

Euronav will examine such letter and reserves all rights and actions in this respect. Regardless of the combination taking place, the supportive and sustainable fundamental factors of the tanker markets have started to deliver (during Q3 and Q4 2022) what Euronav and most sector commentators believe will be a prolonged upcycle. Such favourable conditions coupled to Euronav’s strong balance sheet, best-in-class operating system with the most developed sustainability platform in the sector positions our company well for the future.

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