A new chapter for Euronav

A NEW CHAPTER FOR EURONAV 
ANTWERP, Belgium, 22 November, 2023 - Euronav NV ("EURN", "Euronav" or "the 
Company") (NYSE: EURN & Euronext: EURN) is pleased to announce that the sale to
CMB 
NV of all Euronav NV shares held by Frontline plc and Famatown Finance Limited
has taken 
place today. CMB NV now holds 49,05% of the shares.

Consequently, following transactions became effective and will be executed in
due course: 
(i) the sale of 24 VLCCs to Frontline
(ii) the mandatory takeover offer by CMB NV for all outstanding shares of the
Company
Because of these developments both the Supervisory Board and Management board of

Euronav have changed. 

Supervisory Board changes
Grace Reksten Skaugen, John Fredriksen, Cato H. Stonex and Ole Henrik Bjørge
resigned 
from the Supervisory Board after the share sale took effect, to allow a new
Supervisory Board 
to steer the company towards its new strategy. Julie De Nul, Patrick De
Brabandere and Marc 
Saverys consequently decided to co-opt following members within the Supervisory
Board
upon recommendation of the Corporate Governance & Nomination committee. 

o Patrick Molis: Mr. Patrick Molis graduated from the Institut d'Etudes
Politiques de 
Paris and holds a Master's degree in law from Paris X Nanterre. He started his
career 
as a Magistrate at the Cour des Comptes. Mr. Patrick Molis was General Manager
of 
Union Normande Investissement (1989-1992), CFO of Worms & Cie Group 4 (1994-
1997), General Manager of Compagnie Nationale de Navigation (1995- 1998), 
Chairman of the Board of Compagnie du Ponant (2012-2015) and Chairman and 
CEO of Héli-Union (2013-2022). He is currently Chairman of Compagnie Nationale 
de Navigation (since 1998) and director of Sabena Technics. He has previously 
served as member of the board of directors of Euronav Luxembourg (1995-2001), 
Euronav (2004-2010), Compagnie Maritime Nantaise (1995-2017), Compagnie 
Méridionale de Navigation (2008- 2022) and of the Conseil d'orientation du
Domaine 
national de Chambord (2007-2017). Mr. Patrick Molis has been awarded the titles
of 
Knight of the Legion of Honour and Officer of the Order of Merit.

o Catharina Scheers: Mrs. Catharina Scheers holds a Master's degree in 
Communication and Media from KU Leuven and a Bachelor's degree in Political and 
Social Science from the University of Antwerp. She started her career with Fast
Lines 
in 1993. She is the owner and managing director of Fast Lines Belgium and has
been 
appointed Chair of the company since 2003. She is currently also a member of the

board of directors of ASF (Antwerp Shipping Federation), a member of the board
of 
BRABO and a member of WISTA (Women's International Shipping and Trading 
Association). In 2021, Mrs. Catharina Scheers received the ESPA "Maritime Figure
of 
the Year" award.

o Bjarte Bøe: Mr. Bjarte Bøe graduated from the Norwegian School of Economics
and 
Business Administration (NHH) in 1983. He joined RS Platou and worked as a 
shipbroker in Houston and Oslo. In 1986 he joined Christiania Bank, later named 
Nordea, and worked in Oslo and London until 1995, when he joined SEB. He worked 
in various managerial positions, including head of Shipping Finance and head of 
Investment Banking in Oslo and Stockholm until 2019. He has served as a director

of Seadrill, Hermitage Offshore and Agera Venture. He also sat on the board of 
CMB.TECH from April 2021 until February 2022.

The resulting composition of the new Supervisory Board is as follows: 
- Julie De Nul (independent) 
- Catharina Scheers (independent) 
- Patrick Molis (independent) 
- Marc Saverys (non-independent - Chair) 
- Patrick De Brabandere (non-independent)
- Bjarte Bøe (non-independent)

Management Board changes
Management board members Lieve Logghe, Brian Gallagher, Alex Staring and Thierry
De 
Grieze had their management board responsibilities terminated as of 22 November
2023. 
They will however continue on an advisory basis with Euronav until the end of
December
2023 to ensure a smooth transition and handover. General Counsel Sofie Lemlijn
and General 
Manager Hellas Michail Malliaros will stay with the company in their respective
roles but will 
no longer serve as Management Board members.

The Supervisory Board unanimously decided to appoint following Management Board 
members upon recommendation of the Corporate Governance & Nomination committee: 

o Alexander Saverys serves on the Management Board as Chief Executive Officer. 
Alexander Saverys is also Chief Executive Officer of the CMB Group. He founded 
Delphis in 2004, a short sea container shipping company. He became director of
CMB 
in 2006 and is Chief Executive Officer of CMB since September 2014.

o Ludovic Saverys joins Euronav on the Management Board as Chief Financial
Officer. 
Ludovic Saverys is the Chief Financial Officer of CMB NV and the General Manager
of 
Saverco NV.

o Michael Saverys, joins the Euronav Management board as Chief Chartering
Officer. 
In 2009 he joined CMB as Chartering Director of Bocimar International, and he is
a 
member of the Board and executive Committee of CMB NV. 

o Maxime Van Eecke joins Euronav as Chief Commercial Officer. He started his
career 
as Legal Counsel for the CMB group in 2005 and became Managing Director of 
Delphis, the container division of CMB, in 2014. In 2021 he was appointed Chief 
Commercial Officer of the CMB group and has been serving as an executive Board 
Member of CMB since 2022.

o Benoit Timmermans joins Euronav as Chief Strategy Officer. Today, he is the
Chief 
Strategy Officer of the group and member of the Executive Committee. He is in 
charge of the Chemical division and zero carbon fuel procurement. He is an 
executive board member of CMB NV.

Alexander Saverys said: "We are very pleased that the deal with Frontline and
Famatown has 
become effective. It solves the strategic and structural deadlock in Euronav and
allows a new 
board and new management team to write a new chapter for Euronav. Our immediate
focus 
will be to continue to run the company as the best-in-class tanker platform,
whilst we will at 
the same time engage with the new Supervisory Board on how to execute a strategy
around 
diversification and decarbonization."

Marc Saverys said: "After many months of uncertainty, we can finally announce
that 
Euronav's deadlock has been resolved. I would like to thank all our Euronav
colleagues for 
their patience and hard work. Having served from 2003 to 2015 as Chairman of the
Board, I 
am proud and honoured to resume my duties. We embark on a new journey for
Euronav with 
energy, perseverance and passion."

Euronav will inform the market of future developments in accordance with
applicable laws 
and regulations.

Contact:
Contact: Communications Coordinator - Enya Derkinderen 
Tel: [phone]
Email: [e-mail]

About Euronav NV
Euronav is an independent tanker company engaged in the ocean transportation and
storage of crude oil. The 
company is headquartered in Antwerp, Belgium, and has offices throughout Europe
and Asia. 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 the Tankers International pool of
which Euronav is one of the 
major partners. Euronav's owned and operated fleet consists of 1 V-Plus vessel,
41 VLCCs (with a further one 
under construction), 22 Suezmaxes (with a further four under construction) and 2
FSO vessels.

Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking
statements. The 
Private Securities Litigation Reform Act of 1995 provides safe harbour
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 harbour provisions of
the Private 
Securities Litigation Reform Act of 1995 and is including this cautionary
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-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 the United States Securities and Exchange Commission for a more
complete 
discussion of these and other risks and uncertainties.

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