HAFNIA LIMITED: Contemplated offering of ordinary shares

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, SOUTH
AFRICA OR JAPAN, EXCEPT AS PERMITTED BY APPLICABLE LAW, OR ANY OTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL OR
REQUIRES REGISTRATION OR ANY OTHER MEASURES.

THIS ANNOUNCEMENT IS NOT AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN FOR
SALE IN THE UNITED STATES. THE SECURITIES MAY NOT BE OFFERED AND SOLD IN THE
UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION. ANY PUBLIC
OFFERING OF THE SECURITIES TO BE MADE IN THE UNITED STATES WILL BE MADE BY MEANS
OF THE PROSPECTUS SUPPLEMENT AND ACCOMPANYING PROSPECTUS WHICH MAY BE OBTAINED
FROM THE COMPANY AND WILL CONTAIN DETAILED INFORMATION ABOUT THE COMPANY AND ITS
MANAGEMENT AND WILL CONTAIN FINANCIAL STATEMENTS.

23 September 2026

Hafnia Limited ("Hafnia", the "Company", OSE ticker code: "HAFNI", NYSE ticker
code: "HAFN") intends to carry out an offering (the "Offering") of ordinary
shares in the Company (the "Offer Shares") to raise a gross amount of the NOK
equivalent of approximately USD 300 million. The price per Offer Share will be
determined through an accelerated bookbuilding process and will be denominated
in NOK (the "Offer Price"). The Company has retained Fearnley Securities AS and
Pareto Securities AS as joint global coordinators and joint bookrunners, and
Arctic Securities AS and Clarksons Securities AS as joint bookrunners
(collectively, the "Managers") in connection with the Offering.

The Company intends to use the net proceeds from the Offering to (i) strengthen
its balance sheet following its acquisitions of shares in TORM plc ("TORM"),
including the recently announced acquisition of 4,500,000 shares of TORM,
representing 4.39% of the issued and outstanding share capital of TORM, and
increasing the Company's ownership in TORM to 18.19%, including repayment of
indebtedness incurred in connection with such acquisitions, (ii) for funding of
potential strategic opportunities, and (iii) for general corporate purposes.

The bookbuilding period for the Offering (the "Bookbuilding Period") will
commence today, 23 September 2026 as soon as practically possible after the New
York Stock Exchange closes at 16:00 EDT / 22:00 CEST and is expected to close on
24 September 2026 at 04:30 EDT / 10:30 CEST. The Company, in consultation with
the Managers, may in its sole discretion, extend or shorten the Bookbuilding
Period at any time and for any reason on short, or without, notice. If the
Bookbuilding Period is extended or shortened, the other dates referred to herein
may be changed accordingly.

To facilitate an efficient bookbuilding process, a trading halt will be imposed
on the Company's ordinary shares that are trading on Euronext Oslo Børs from
09:00 CEST on 24 September 2026, throughout the Bookbuilding Period and until
final results, including the Offer Price and number of Offer Shares allocated in
the Offering,  have been announced, expected no later than 07:00 EDT / 13:00
CEST on 24 September 2026.

Notification of allocation is expected to take place on 24 September 2026 no
later than 07:00 EDT / 13:00 CEST. Payment and delivery are expected to take
place on 28 September 2026 on a delivery versus payment ("DVP", T+2) basis, to
be facilitated by the Share Lending Agreement (as defined below). The Offer
Shares will be delivered through Euronext Securities Oslo (the "VPS").

The minimum application and allocation amount has been set to the NOK equivalent
of EUR 100,000. The Company may, however, at its sole discretion, allocate Offer
Shares for amounts below the NOK equivalent of EUR 100,000 to the extent
exemptions from the relevant prospectus requirements in accordance with
applicable regulations, including the Norwegian Securities Trading Act and
ancillary regulations, are available. 

Allocation of Offer Shares in the Offering will be determined after the expiry
of the Bookbuilding Period by the Company, at its sole discretion in
consultation with the Managers. The Company will focus on allocation criteria
such as (but not limited to) existing ownership in the Company, indications from
the pre-sounding phase of the Offering, timeliness of the application, price
leadership, relative order size, sector knowledge, perceived investor quality
and investment horizon. The Company may, in its sole discretion, reject and/or
reduce any orders, in whole or in part. The Company, in consultation with the
Managers, further reserves the right, at its sole discretion, to take into
account the creditworthiness of any applicant. There is no guarantee that any
potential investor will be allocated Offer Shares.

The decision to launch the Offering is made in accordance with the authorisation
granted to the Board to increase the Company's share capital by issuance of new
shares granted by the general meeting held on 26 May 2026 (the "Board
Authorisation"). Completion of the Offering is subject to (i) all corporate
resolutions of the Company required to complete the Offering being validly made,
including without limitation, the Board resolving to issue the Offer Shares by
use of the Board Authorisation, (ii) the issuance of relevant documents and
legal opinions for the issuance of the Offer Shares as required under the
engagement letter entered into between the Managers and the Company, unless
waived by the Managers, (iii) the Share Lending Agreement (as defined below)
being in full force and effect, and (iv) the filing of the prospectus supplement
with the U.S. Securities and Exchange Commission (the "SEC") pursuant to Rule
424(b) under the U.S. Securities Act of 1933, as amended (the "Securities Act").

The Company, the Managers and BW Group Limited have entered into a share lending
agreement (the "Share Lending Agreement") for the purpose of facilitating DVP
settlement of the Offer Shares allocated to investors in the Offering with
existing ordinary shares in the Company that are already listed on Euronext Oslo
Børs. The Offer Shares allocated to applicants will thus be tradeable on
Euronext Oslo Børs from allocation. Redelivery of the borrowed shares and
delivery of any Offer Shares allocated to BW Group Limited will be in the form
of new ordinary shares to be issued by the Company after the closing of the
Offering.

The Offer Shares will be available for trading on Euronext Oslo Børs once
allocation has taken place. After delivery of Offer Shares, such ordinary shares
may be transferred from VPS to the Depository Trust Company (the "DTC") in
accordance with the customary arrangements for transfers of the Company's
ordinary shares between VPS and DTC.

The Company and the Managers reserve the right, at any time and for any reason,
to cancel, and/or modify the terms of, the Offering without or on short notice.
Neither the Company nor the Managers will be liable for any losses incurred by
applicants if the Offering is cancelled, irrespective of the reason for such
cancellation.

The Offering will be made in the United States pursuant to the Company's
effective shelf registration statement on Form F-3 (File No. 333-287637),
including a prospectus supplement to be filed with the SEC pursuant to Rule
424(b) under the Securities Act.

The Company has considered different transaction structures for the capital
raise, hereunder in light of the equal treatment obligations under the Norwegian
Securities Trading Act and applicable Singapore law, and the Company is of the
view that the proposed Offering is in compliance with these requirements. By
structuring the transaction as a private placement in Norway, the Company will
be in a position to raise capital in an efficient manner and with significantly
lower completion risks compared to a rights issue, especially considering that
the shares of the Company are traded on both the New York Stock Exchange and
Euronext Oslo Børs. In addition, the Offering is subject to marketing through a
publicly announced bookbuilding process, and a market-based offer price should
therefore be achieved. On this basis, and based on an assessment of the current
equity markets, the Company has considered the Offering to be in the common
interest of the Company and its shareholders. For the same reasons, the Company
does not expect to carry out a subsequent share issue directed towards
shareholders that were not allocated shares in the Offering.

Advisors

Fearnley Securities AS and Pareto Securities AS are acting as joint global
coordinators and joint bookrunners, and Arctic Securities AS and Clarksons
Securities AS are acting as joint bookrunners, in the Offering. Fearnley
Securities AS is not a U.S. registered broker-dealer, and to the extent that
this offering is made within the United States, its activities will be effected
only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of
1934, as amended, or through its affiliate Fearnley Securities Inc. Pareto
Securities AS is not a U.S. registered broker-dealer, and to the extent that
this offering is made within the United States, its activities will be effected
only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of
1934, as amended, or through its affiliate Pareto Securities Inc. Arctic
Securities AS is not a U.S. registered broker-dealer, and to the extent that
this offering is made within the United States, its activities will be effected
only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of
1934, as amended, or through its affiliate Arctic Securities LLC. Clarksons
Securities AS is not a U.S. registered broker-dealer, and to the extent that
this offering is made within the United States, its activities will be effected
only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of
1934, as amended, or through its affiliate Clarksons Securities Inc.

Advokatfirmaet Thommessen AS is acting as Norwegian legal counsel, Vedder Price
P.C. is acting as U.S. legal counsel, and Shook Lin & Bok LLP is acting as
Singapore legal counsel, to the Company. Advokatfirmaet BAHR AS is acting as
Norwegian legal counsel, and Seward & Kissel LLP is acting as U.S. legal
counsel, to the Managers. 

This information is considered to be inside information pursuant to Article 7 of
the EU Market Abuse Regulation and is subject to the disclosure requirements
pursuant to Article 17 of the EU Market Abuse Regulation and Section 5-12 of the
Norwegian Securities Trading Act.

This stock exchange release was published by Charleston Lim, Manager, on the
time and date stated herein.

For further information, please contact: 
Søren Steenberg Jensen 
CEO Hafnia Limited 
sst@hafnia.com 

* * *

About Hafnia Limited: 
Hafnia is one of the world's leading tanker owners, transporting oil, oil
products and chemicals for major national and international oil companies,
chemical companies, as well as trading and utility companies. As owners and
operators of around 180 vessels, we offer a fully integrated shipping platform,
including technical management, commercial and chartering services, pool
management, and a large-scale bunker procurement desk. Hafnia has offices in
Singapore, Copenhagen, Houston, and Dubai and currently employs over 4,000
employees onshore and at sea. Hafnia is part of the BW Group, an international
shipping group involved in oil and gas transportation, floating gas
infrastructure, environmental technologies, and deep-water production for over
80 years.

Important Note

The information contained in this announcement is for background purposes only
and does not purport to be full or complete. No reliance may be placed for any
purpose on the information contained in this announcement or its accuracy,
fairness or completeness.

Neither this announcement nor the information contained herein is for
publication, distribution or release, in whole or in part, directly or
indirectly, in or into or from Australia, Canada, Hong Kong, South Africa, Japan
or any other jurisdiction where to do so would constitute a violation of the
relevant laws of such jurisdiction. The publication, distribution or release of
this announcement may be restricted by law in certain jurisdictions and persons
into whose possession any document or other information referred to herein
should inform themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the securities laws
of any such jurisdiction.

This announcement does not constitute an offer to sell or the solicitation of an
offer to buy any securities. Any offer of securities in the United States will
be made only by means of a prospectus supplement and accompanying prospectus
filed with the SEC pursuant to an effective registration statement under the
Securities Act. Investors should read the prospectus supplement, the
accompanying prospectus and the documents incorporated by reference therein
before making an investment decision. In any EEA Member State, this
communication is only addressed to and is only directed at qualified investors
in that Member State within the meaning of the EU Prospectus Regulation, i.e.
only to investors who can receive the offer without an approved prospectus in
such EEA Member State. The expression "EU Prospectus Regulation" means
Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14
June 2017 (together with any applicable implementing measures in any Member
State).

This communication is only being distributed to and is only directed at persons
in the United Kingdom who have professional experience, knowledge and expertise
in matters relating to investments and qualify as "investment professionals" for
the purposes of Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (all such persons being referred to
as "relevant persons"), and only in circumstances falling within Part 1 of
Schedule 1 to The Public Offers and Admissions to Trading Regulations 2024 (the
"POATRs"). This communication must not be acted on or relied on by persons who
are not relevant persons. Any investment or investment activity to which this
communication relates is available only to relevant persons and will be engaged
in only with relevant persons. Persons distributing this communication must
satisfy themselves that it is lawful to do so

This announcement and any information contained herein does not constitute a
prospectus and has not been, and will not be, registered as a prospectus with
the Monetary Authority of Singapore. Accordingly, this announcement and any
other document or material in connection with the offer or sale, or invitation
for subscription or purchase, of the securities may not be circulated or
distributed, nor may the securities be offered or sold, or be made the subject
of an invitation for subscription or purchase, whether directly or indirectly,
to persons in Singapore other than (i) to an institutional investor (as defined
in Section 4A of the SFA) under Section 274 of the Securities and Futures Act
2001 of Singapore (the "SFA"), (ii) to a relevant person pursuant to Section
275(1) of the SFA, or any person pursuant to Section 275(1A) of the SFA, and in
accordance with the conditions specified in Section 275 of the SFA and (where
applicable) Regulation 3 of the Securities and Futures (Classes of Investors)
Regulations 2018, or (iii) otherwise pursuant to, and in accordance with the
conditions of, any other applicable provision of the SFA. 

NO ACTION HAS BEEN TAKEN BY THE COMPANY, THE MANAGERS OR ANY OF THEIR RESPECTIVE
AFFILIATES THAT WOULD PERMIT AN OFFERING OF THE OFFER SHARES OR POSSESSION OR
DISTRIBUTION OF THIS PRESS RELEASE OR ANY OFFERING OR PUBLICITY MATERIAL
RELATING TO THE OFFER SHARES IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE
IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED
BY THE COMPANY AND THE MANAGERS TO INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY
SUCH RESTRICTIONS.

EACH PROSPECTIVE INVESTOR SHOULD PROCEED ON THE ASSUMPTION THAT IT MUST BEAR THE
ECONOMIC RISK OF AN INVESTMENT IN THE OFFER SHARES. NONE OF THE COMPANY OR THE
MANAGERS MAKE ANY REPRESENTATION AS TO (I) THE SUITABILITY OF THE OFFER SHARES
FOR ANY PARTICULAR INVESTOR, (II) THE APPROPRIATE ACCOUNTING TREATMENT AND
POTENTIAL TAX CONSEQUENCES OF INVESTING IN THE OFFER SHARES OR (III) THE FUTURE
PERFORMANCE OF THE OFFER SHARES EITHER IN ABSOLUTE TERMS OR RELATIVE TO
COMPETING INVESTMENTS.

THE MANAGERS ARE ACTING ON BEHALF OF THE COMPANY AND NO ONE ELSE IN CONNECTION
WITH THE OFFERING AND WILL NOT BE RESPONSIBLE TO ANY OTHER PERSON FOR PROVIDING
THE PROTECTIONS AFFORDED TO CLIENTS OF THE MANAGERS OR FOR PROVIDING ADVICE IN
RELATION TO THE OFFER SHARES.

EACH OF THE COMPANY, THE MANAGERS AND THEIR RESPECTIVE AFFILIATES EXPRESSLY
DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO UPDATE, REVIEW OR REVISE ANY
STATEMENT CONTAINED IN THIS PRESS RELEASE WHETHER AS A RESULT OF NEW
INFORMATION, FUTURE DEVELOPMENTS OR OTHERWISE.

Forward-Looking Statements

This communication contains "forward-looking statements", including as defined
under applicable laws, such as the US Private Securities Litigation Reform Act
of 1995. Forward-looking statements provide the Company's current expectations
or forecasts of future events. Forward-looking statements include statements
about the Company's expectations, beliefs, plans, objectives, intentions,
assumptions and other statements that are not historical facts or that are not
present facts or conditions. Words or phrases such as "anticipate," "believe,"
"continue," "estimate," "expect," "hope," "intend," "may," "ongoing," "plan,"
"potential," "predict," "project," "should," "will" or similar words or phrases,
or the negatives of those words or phrases, may identify forward-looking
statements, but the absence of these words does not necessarily mean that a
statement is not forward-looking. Forward-looking statements are subject to
known and unknown risks and uncertainties and are based on potentially
inaccurate assumptions that could cause actual results to differ materially from
those expected or implied by the forward-looking statements. The Company's
actual results could differ materially from those anticipated in forward-looking
statements for many reasons, including as described in the Company's filings
with the SEC. Accordingly, you should not unduly rely on these forward-looking
statements, which speak only as of the date of this communication. Factors that
could cause actual results to differ materially include, but are not limited to,
the Company's operating or financial results; the Company's liquidity, including
its ability to service its indebtedness; competitive factors in the market in
which the Company operates; shipping industry trends, including charter rates,
vessel values and factors affecting vessel supply and demand; future, pending or
recent acquisitions and dispositions, business strategy, areas of possible
expansion or contraction, and expected capital spending or operating expenses;
risks associated with operations; broader market impacts arising from war (or
threatened war) or international hostilities; risks associated with pandemics,
including effects on demand for oil and other products transported by tankers
and the transportation thereof; and other factors listed from time to time in
the Company's filings with the SEC. Except to the extent required by law, the
Company expressly disclaims any obligations or undertaking to release publicly
any updates or revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with respect thereto or any
change in events, conditions or circumstances on which any statement is based.
You should, however, review the factors and risks the Company describes in the
reports it files and furnishes from time to time with the SEC, which can be
obtained free of charge on the SEC's website at www.sec.gov.
xpressly disclaims any obligations or undertaking to release publicly\
any updates or revisions to any forward-looking statements contained herein to\
reflect any change in the Company's expectations with respect thereto or any\
change in events\, conditions or circumstances on which any statement is based.\
You should\, however\, review the factors and risks the Company describes in the\
reports it files and furnishes from time to time with the SEC\, which can be\
obtained free of charge on the SEC's website at www.sec.gov.\