Core Viewpoint - TORM plc has completed the acquisition of shares from Oaktree Capital Management by Hafnia Limited, resulting in a change in the ownership structure and board composition of TORM [1][2]. Ownership Changes - Oaktree and its affiliates have reduced their ownership stake below one-third of the issued shares, leading to the extinguishment of the B-Director position [2][3]. - The threshold date for this change has been set as January 6, 2026, marking a significant shift in TORM's governance [2]. Board Composition - David Weinstein, the Deputy Chairman and Senior Independent Director, will leave the Board effective immediately due to the change in ownership, but will continue to serve as a Special Advisor [3]. - The Board expressed gratitude for Mr. Weinstein's contributions since 2015, highlighting his invaluable experience [3][4]. Share Structure - Following the redemption and cancellation of B- and C-shares, TORM's share capital will be USD 1,013,327.07, consisting of 101,332,707 A-shares [5][6]. - The voting rights will now consist of 101,332,707 A-shares and one B-share, with the C-share voting rights ceasing as of the threshold date [5].

Core Viewpoint - TORM plc has completed the acquisition of shares by Hafnia Limited from Oaktree Capital Management, which impacts the ownership structure of TORM plc [1][2]. Group 1: Acquisition Details - The acquisition was finalized on December 22, 2025, with Oaktree holding 26,425,059 A shares and Hafnia holding 14,156,061 A shares out of a total of 101,332,707 A shares [2]. - The completion of this acquisition triggers a review process by TORM's board of directors to determine if Oaktree and its affiliates have ceased to beneficially own at least one third of the issued shares, as defined in TORM's articles of association [3]. Group 2: Implications of the Acquisition - Once the threshold date is established, certain rights and limitations associated with the B and C shares will cease to be effective, leading to the redemption and cancellation of these shares [4]. - Further announcements will be made following the conclusion of the necessary processes related to the acquisition [4]. Group 3: Company Overview - TORM is recognized as one of the leading carriers of refined oil products globally, operating a fleet of product tanker vessels with a strong commitment to safety and environmental responsibility [5]. - The company was founded in 1889 and is publicly listed on Nasdaq in Copenhagen and New York [5].

Core Viewpoint - TORM plc has been informed that Hafnia Limited will acquire approximately 14.1 million A shares from Oaktree Capital Management, representing about 14.45% of TORM's issued share capital at a price of USD 22 per share, totaling approximately USD 311.43 million [1][2]. Group 1: Share Purchase Details - The share purchase is contingent upon entering a definitive agreement and fulfilling customary conditions, including regulatory approvals and the appointment of a new independent board chairman for TORM [2]. - TORM is not involved in the transaction and has no additional information regarding the share purchase [2]. Group 2: Company Overview - TORM is recognized as one of the leading carriers of refined oil products globally, operating a fleet of product tanker vessels with a strong focus on safety, environmental responsibility, and customer service [3]. - Founded in 1889, TORM conducts business worldwide and is listed on Nasdaq in Copenhagen and New York under the tickers TRMD A and TRMD [3].

Core Viewpoint - TORM reported strong second-quarter results despite global uncertainties, leading to an increase in full-year guidance for 2025 [1][11]. Financial Results - In Q2 2025, TORM generated time charter equivalent earnings (TCE) of USD 208.2 million, down from USD 325.9 million in Q2 2024, reflecting a decline of USD 117.7 million [5]. - Adjusted EBITDA for the same period was USD 129.0 million, compared to USD 251.1 million in Q2 2024, a decrease of USD 122.1 million [5]. - Net profit for Q2 2025 was USD 58.7 million, down from USD 194.2 million in Q2 2024, a decline of USD 135.5 million [5]. - Average TCE rates were USD 26,672 per day in Q2 2025, significantly lower than USD 42,057 per day in Q2 2024, a drop of USD 15,385 [3][5]. - Basic earnings per share (EPS) were USD 0.60, down from USD 2.08 in the same period last year [4][5]. Market Conditions - The tanker market faced complexities due to geopolitical developments and expanded sanctions, affecting trade volumes, particularly in routes impacted by the Red Sea disruption [2]. - Despite a rebound in product tanker ton-miles starting March 2025, trade volumes remained subdued, neutralizing earlier gains [2]. Vessel Transactions - TORM sold the 2008-built LR2 vessel TORM Mathilde and two 2008-built MR vessels, TORM Voyager and TORM Discoverer, with the latter delivered in July 2025 [6]. Financing - TORM secured financing commitments of up to USD 857 million to refinance existing loans and lease agreements for 22 vessels, enhancing capital flexibility [7]. Dividend Distribution - An interim dividend of USD 0.40 per share was approved for Q2 2025, totaling an expected payment of USD 39.2 million, representing 67% of net profit [9]. Financial Outlook - TORM increased its full-year 2025 guidance, expecting TCE earnings between USD 800 million and USD 950 million, up from the previous range of USD 700 million to USD 900 million [11]. - As of August 4, 2025, TORM had covered 56% of Q3 2025 earning days at an average rate of USD 30,617 per day [10].

Core Viewpoint - TORM plc's CEO Jacob Balslev Meldgaard executed a transaction involving the exercise of restricted share units, acquiring 33,559 shares at a price of DKK 0.08 per share on May 19, 2025, totaling DKK 2,684.72 [1]. Company Overview - TORM is recognized as one of the world's leading carriers of refined oil products, operating a fleet of product tanker vessels with a strong emphasis on safety, environmental responsibility, and customer service [2]. - The company was founded in 1889 and has a global business presence, with shares listed on Nasdaq in Copenhagen and New York under the tickers TRMD A and TRMD [2].