“I am pleased to see that the hard work in 2019 is paying off. The results and
achievements are very satisfactory
and provide a promising platform for the future. This is the outcome of great
perseverance and craftsmanship
throughout the organization. In 2019, we completed a strategically important
merger and a successful private
placement followed by a listing on Oslo Bors, resulting in a strong balance
sheet.
As the leading listed product tanker company, Hafnia takes a front-row seat in
global efforts to combat climate
change and is committed to providing safe, sustainable and efficient hydrocarbon
transportation solutions. I
believe in leading with purpose and guiding with values, where the development,
implementation and
maintenance of good governance policies and practices are important focus areas
for Hafnia. I am pleased that
we can distribute capital back to our shareholders as a dividend in our first
quarter as a public company. “

- Mikael Skov, CEO Hafnia

2019 highlights:

• Time Charter Equivalent (TCE) earnings for Hafnia Limited (the "Company" or
"Hafnia", together with its
subsidiaries, the "Group") were USD 514.4 million in 2019 and EBITDA was USD
277.8 million in 2019.

• In Q4 2019, Hafnia had a net profit of USD 42.4 million (USD 0.11 per share)
and the full year net profit
ended at USD 71.7 million (USD 0.19 per share).

• At the end of the quarter, Hafnia had 81 owned vessels1. In 2019, Hafnia took
delivery of six LR2 vessels,
whereby Hafnia’s newbuild program was completed. As at the end of 2019, the
total fleet of the Group
comprises of 95 vessels hereunder six LR2s, 30 LR1s (including six
bareboat-chartered in and three timechartered in), 46 MRs (including five
time-chartered in) and 13 Handy vessels owned/operated.

• In 2019, the newbuild LR1 vessels Hafnia Guangzhou and Hafnia Beijing were
delivered and at the end of
2019, the outstanding yard instalments for the two remaining LR1 newbuilds
through Vista Shipping Ltd., a
joint venture between Hafnia and CSSC Shipping (the "Vista Joint Venture") is
USD 35.1 million on a 50%
basis. The final newbuild yard instalments are fully funded by traditional bank
financing.

• In November 2019, Hafnia successfully completed a private placement and
listing on Oslo Axess, raising
gross proceeds of USD 75.0 million which was used towards financing of the
equity portion of two MR
vessels, repayment of an unsecured USD 34.5 million loan from BW Group, working
capital and other
general corporate purposes.

• As of 15 February 2020, the coverage for the first quarter of 2020 was 61% at
USD 22,123/day. For the
individual segments, the coverage was 99% at USD 23,900/day for LR2, 58% at USD
22,096/day for LR1, 59%
at USD 20,739/day for MR and 57% at USD 25,960/day for Handy.

• Hafnia will pay a quarterly dividend of USD 0.0573 per share, record date of
the dividend will be 3 March
with ex. date of 2 March and the dividend will be paid 11 March. Please see
separate announcement for
dividend.

Conference call

Hafnia will today host a conference call for investors and financial analysts at
10:00pm SGT/ 3:00pm CET/
9:00am EST. Please dial +65 6713 5090 (International/ Singapore), 08082 346646
(UK), 8088 3616 (Denmark),
8001 0250 (Norway) or 1866 5194004 (USA), and use Conference ID: 6446927.
Webcast can be accessed at this
link: https://edge.media-server.com/mmc/p/tv8fcf8a.

Contact Hafnia
Mikael Skov, CEO Hafnia: +65 6971 8001
www.hafniabw.com

This information is subject to disclosure requirements pursuant to Section 5-12
of the Norwegian Securities
Trading Act.