Sale and leaseback of VLCC Newton

Antwerp, Belgium - 23 February 2021

Euronav NV (NYSE: EURN &Euronext: EURN) (“Euronav” or the “Company”) announces that it has entered into a sale and leaseback agreement for the VLCC Newton (2009 –307,284) with Taiping & Sinopec Financial Leasing Ltd Co.

The vessel was sold for USD 36 million. The transaction produced a capital gain of about USD 2.4 million. After repayment of the existing debt, the transaction generated USD 19 million free cash.

The vessels were delivered to their new ownerson February 22th, 2021. Arctic acted as the sole financial advisor in this transaction. Euronav has leased back thevesselunder a 36-months bareboat contract (1) at an average rate of USD 22,500 per day. At the end of the bareboat contract, the vessel will be redelivered to itsowners.

Euronav CEO Hugo De Stoop, states: "Euronav is pleasedthat we managed to execute anothertransaction with thisleadingChinese counterparty, as it is a trusted partner.By securing an excellent price for this vessel, we maintain the capability to purchase younger tonnage, using thegenerated revenues. This is consistent with our approach on fleet renewal."

(1) A charter under which a customer pays a fixed daily or monthly rate for a fixed period of time for use of the vessel. The customer pays all costs of operating the vessel, including voyage and vessel expenses.

About Euronav
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Companyis 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 2 V-Plus vessels, 45 VLCCs (two to be delivered), 26 Suezmaxes (one of which is in a joint venture and two vessels time chartered in) and 2 FSO vessels (both owned in 50%-50% joint venture).

Euronav NV press release