EURONAV NV SALE AND LEASEBACK OF VLCC NEWTONAntwerp, Belgium ,23 February 2021 -Euronav NV (NYSE: EURN & Euronext: EURN) ("Euronav " or the "Company") announces that it has entered into a sale and leaseback agreement for the VLCC Newton (2009 - 307,284) withTaiping & Sinopec Financial Leasing Ltd Co. The vessel was sold forUSD 36 million . The transaction produced a capital gain of aboutUSD 2.4 million . After repayment of the existing debt, the transaction generatedUSD 19 million free cash. The vessels were delivered to their new owners onFebruary 22th, 2021 . Arctic acted as the sole financial advisor in this transaction.Euronav has leased back the vessel under a 36-months bareboat contract1 at an average rate ofUSD 22,500 per day. At the end of the bareboat contract, the vessel will be redelivered to its owners.Euronav CEOHugo De Stoop , states: "Euronav is pleased that we managed to execute another transaction with this leading Chinese counterparty, as it is a trusted partner. By securing an excellent price for this vessel, we maintain the capability to purchase younger tonnage, using the generated revenues. This is consistent with our approach on fleet renewal." * * * 1 A charter under which a customer pays a fixed daily or monthly rate for a fixed period of time for use of the vessel. The customer pays all costs of operating the vessel, including voyage and vessel expenses. Contact:Brian Gallagher - Head of IR,Research and Communications & Executive Committee member Tel: +44 20 78 70 04 36 Email: IR@euronav.com Announcement of final year results for 2020:31 March 2021 AboutEuronav Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Company is headquartered inAntwerp, Belgium , and has offices throughoutEurope andAsia .Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN.Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in theTankers International pool of whichEuronav is one of the major partners.Euronav's owned and operated fleet consists of 2 V-Plus vessels, 45 VLCCs (two to be delivered), 26 Suezmaxes (one of which is in a joint venture and two vessels time chartered in) and 2 FSO vessels (both owned in 50%-50% joint venture). Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements 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. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other 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 contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with theUnited States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
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