Euronav : Presentation third quarter 2020 results

EARNINGS CALL Q3 2020

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FORWARD LOOKING STATEMENTS

Matters discussed in this presentation may constitute forward-looking statements under U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the Company's current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including, without limitation, the delivery of vessels, the outlook for tanker shipping rates, general industry conditions future operating results of the Company's vessels, capital expenditures, expansion and growth opportunities, bank borrowings, financing activities and other such matters, are forward-looking statements. Although the Company believes that its expectations stated in this presentation are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their obligations to us, the strength of the world economies and currencies, general market conditions, including changes in tanker vessel charter hire rates and vessel values, changes in demand for tankers, changes in our vessel operating expenses, including dry-docking, crewing and insurance costs, or actions taken by regulatory authorities, ability of customers of our pools to perform their obligations under charter contracts on a timely basis, potential liability from future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists. We undertake no obligation to publicly update or revise any forward looking statement contained in this presentation, whether as a result of new information, future events or otherwise, except as required by law. In light of the risks, uncertainties and assumptions, the forward looking events discussed in this presentation might not occur, and our actual results could differ materially from those anticipated in these forward-looking statements.

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CONTENT

1. Q3 2020 HIGHLIGHTS
2. FINANCIAL REVIEW
3. CURRENT THEMES
4. Q&A

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HIGHLIGHTS Q3 2020

• Challenging winter market conditions due to OPEC+ cuts, slower demand recovery due to COVID-19 and increasing vessel capacity

• Q3 Dividend: USD 18.5 million or USD 9c per share		USD/day
Q3 Share buyback: USD 18.5 million
• FSO contract extended by 10 years to 2032
• Outlook - Q4 so far VLCC 50% fixed at around 22.5k per day
Q4 so far Suezmax 45% fixed at around 11.5k per day
In USD per day	Q3 2020	Q3 2019
VLCC
Average spot rate (in TI	42,000	25,250
pool)*

45000

40000

35000

30000

25000

20000

15000

10000

5000

0

30000

25000

VLCC

Q3

20

P&L

B/E

Suezmax

P&L

Q3

19

Average time charter rate**	48,750	33,000
			USD/day
SUEZMAX
Average spot rate***	23,500	17,250
Average time charter rate**	29,500	30,000

*Euronav owned ships in TI Pool **Including profit share where applicable *** Excluding technical offhire days

20000

15000

10000

5000

0

B/E

Q3

20

Q3

19

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