Item 4 — Purpose of Transaction
On March 4, 2025, Hemen entered into a Share Sale and Purchase Agreement (the "Purchase Agreement") with CMB.TECH Bermuda Ltd (the "Purchaser"), pursuant to which Hemen agreed to sell to the Purchaser an aggregate of 81,363,730 Common Shares (representing all Common Shares beneficially owned by the Reporting Persons, other than Frontline) at a purchase price of $14.49 per Common Share, resulting in an aggregate purchase price of $1,178,960,447.70 (the "Share Sale"). The Share Sale is expected to close on March 12, 2025. As a result of the Share Sale, the Reporting Persons, other than Frontline, will no longer beneficially own Common Shares of the Issuer.