Capital increase in TORM in connection with delivery of vessel

With reference to Company Announcement no. 03 dated 01 March 2021 regarding the acquisition of eight 2007-2012 built MR product tanker vessels from TEAM Tankers Deep Sea Ltd, TORM plc (“TORM”) has increased its share capital by 877,128 A-shares (corresponding to USD 8,771.28) as a result of the delivery of the first vessel of the transaction, the MR vessel TEAM Corrido.

The capital increase is carried out without any pre-emption rights for existing shareholders or others. The new shares have been subscribed for due to the settlement of a USD 8.1m allocated loan note issued in connection with the vessel delivery and correspond to USD 9.2 per A-share with a nominal value of USD 0.01 each. The majority of the issued shares will be subject to a lock-up for a period of 40 days.

The new shares are ordinary shares without any special rights and are negotiable instruments. The new shares give right to dividends and other rights in relation to TORM as of the date of issuance. The new shares are expected to be admitted to trading and official listing on Nasdaq Copenhagen on 14 April 2021. The new shares will be freely transferable on Nasdaq Copenhagen, but certain transfer restrictions may apply under U.S. securities laws.

After the capital increase, TORM’s share capital amounts to USD 758,469.84 divided into 75,846,982 A-shares of USD 0.01 each, one B-share of USD 0.01 and one C-share of USD 0.01. A total of 75,846,982 votes are attached to the A-shares. The B-share and the C-share have specific voting rights.

CONTACT	TORM plc
Christopher Everard, General Manager, tel.: [phone]	Birchin Court, 20 Birchin Lane
	London, EC3V 9DU, United Kingdom
	Tel.: [phone]
	www.torm.com

ABOUT TORM
TORM is one of the world’s leading carriers of refined oil products. The Company operates a fleet of approximately 80 modern vessels with a strong commitment to safety, environmental responsibility and customer service. TORM was founded in 1889. The Company conducts business worldwide. TORM’s shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD). For further information, please visit www.torm.com.