TORM PLC (TRMD)

TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM's incentive programMay 20, 2026 6:03 AM
PR Newswire (US) HELLERUP, Denmark, May 20, 2026 /PRNewswire/ -- TORM plc (NASDAQ: TRMD) (NASDAQ: TRMD A) has increased its share capital by 215,635 A-shares (corresponding to a nominal value of USD 2.156,35) as a result of the exercise of a corresponding number of Restricted Share Units ("RSUs"). A total of 14,206 new shares is subscribed for in cash at DKK 0.07 per A-share, 85,067 shares are subscribed for in cash at DKK 131.80 and 116,362 new shares are subscribed for in cash at DKK 144.40.Transfer restrictions may apply in certain jurisdictions outside Denmark, including applicable US securities laws. The capital increase is carried out without any pre-emption rights for existing shareholders or others.The new shares (i) are ordinary shares without any special rights and are negotiable instruments, (ii) give the right to dividends and other rights in relation to TORM as of the date of issuance and (iii) are expected to be admitted to trading and official listing on Nasdaq Copenhagen as soon as possible.After the capital increase, TORM's share capital totals to USD 1,023,389.74 divided into 102,338,974 A-shares with a nominal value of USD 0.01 each. Each A-share carries one vote.Contact
Mikael Bo Larsen, Head of Investor Relations
Tel.: +45 5143 8002About TORMTORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For further information, please visit www.torm.com.Safe Harbor Statement as to the FutureMatters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements.The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections.Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of newbuildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries; effects of new products and new technology in our industry; new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers.In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.This information was brought to you by Cision http://news.cision.comhttps://news.cision.com/torm-plc/r/torm-plc-capital-increase-in-connection-with-exercise-of-restricted-share-units-as-part-of-torm-s-in,c4350759The following files are available for download:https://mb.cision.com/Main/21247/4350759/4103643.pdf13-2026 - TORM plc capital increase in connection with RSU exercise as part of TORM’s incentive program  View original content:https://www.prnewswire.com/news-releases/torm-plc-capital-increase-in-connection-with-exercise-of-restricted-share-units-as-part-of-torms-incentive-program-302777486.htmlSOURCE Torm PLC Original: TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM's incentive program

TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM's incentive programMarch 31, 2026 3:14 AM
PR Newswire (US)

HELLERUP, Denmark, March 31, 2026 /PRNewswire/ -- TORM plc (NASDAQ: TRMD) (NASDAQ: TRMD A) has increased its share capital by 43,697 A-shares (corresponding to a nominal value of USD 436.97) as a result of the exercise of a corresponding number of Restricted Share Units ("RSUs"). A total of 10,634 new shares are subscribed for in cash at DKK 131.80 per A-share, and 33,063 new shares are subscribed for in cash at DKK 148.70.Transfer restrictions may apply in certain jurisdictions outside Denmark, including applicable US securities laws. The capital increase is carried out without any pre-emption rights for existing shareholders or others.The new shares (i) are ordinary shares without any special rights and are negotiable instruments, (ii) give the right to dividends and other rights in relation to TORM as of the date of issuance and (iii) are expected to be admitted to trading and official listing on Nasdaq Copenhagen as soon as possible.After the capital increase, TORM's share capital totals to USD 1,021,233.39 divided into 102,123,339 A-shares with a nominal value of USD 0.01 each. Each A-share carries one vote.Contact
Mikael Bo Larsen, Head of Investor Relations
Tel.: +45 5143 8002About TORMTORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For further information, please visit www.torm.com.Safe Harbor Statement as to the FutureMatters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements.The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections.Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of newbuildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries;  effects of new products and new technology in our industry;  new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers.In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.This information was brought to you by Cision http://news.cision.comhttps://news.cision.com/torm-plc/r/torm-plc-capital-increase-in-connection-with-exercise-of-restricted-share-units-as-part-of-torm-s-in,c4328020The following files are available for download:https://mb.cision.com/Main/21247/4328020/4012151.pdf10-2026 - TORM plc capital increase in connection with RSU exercise as part of TORM’s incentive program 



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Original: TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM's incentive program

Report of transactions in TORM plc securities by directors and executive officers and their closely associated personsMarch 17, 2026 4:41 AM
PR Newswire (US)

HELLERUP, Denmark, March 17, 2026 /PRNewswire/ -- TORM plc (NASDAQ: TRMD) (NASDAQ: TRMD A) has been notified of the following transaction in TORM plc securities:
Details of the reporting person / closely associated personNameJacob Balslev MeldgaardReason for the notificationPosition/statusCEO/Executive Director Initial notification/AmendmentInitial notification Details of the issuerNameTORM plcLEI code213800VL1H1ABVM1ZF63Details of the transaction(s)Description of the financial instrumentIdentification code Shares (ISIN: GB00BZ3CNK81)Nature of the transactionSalePrice(s) and volume(s)Price(s)Volume(s)DKK 163.46/share223,555Aggregated information- Volume- Price223,555 sharesDKK 36,451,115Date of the transaction12 March 2026Place of the transactionNasdaq CopenhagenContact
Mikael Bo Larsen, Head of Investor Relations
Tel.: +45 5143 8002About TORMTORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For further information, please visit www.torm.com.Safe Harbor Statement as to the FutureMatters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements.The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections.Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of new buildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries; effects of new products and new technology in our industry; new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers.In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.This information was brought to you by Cision http://news.cision.com.https://news.cision.com/torm-plc/r/report-of-transactions-in-torm-plc-securities-by-directors-and-executive-officers-and-their-closely-,c4322210The following files are available for download:https://mb.cision.com/Main/21247/4322210/3986240.pdf08-2026 - Report of transactions in TORM plc securities by directors and executive officers and their closely associated persons 



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Original: Report of transactions in TORM plc securities by directors and executive officers and their closely associated persons

TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM's incentive programMarch 16, 2026 4:21 AM
PR Newswire (US)

HELLERUP, Denmark, March 16, 2026 /PRNewswire/ -- TORM plc (NASDAQ: TRMD) (NASDAQ: TRMD A) has increased its share capital by 106,468 A-shares (corresponding to a nominal value of USD 1,064.68) as a result of the exercise of a corresponding number of Restricted Share Units ("RSUs"). A total of 34,880 new shares are subscribed for in cash at DKK 131.80 per A-share, and 71,588 new shares are subscribed for in cash at DKK 148.70.Transfer restrictions may apply in certain jurisdictions outside Denmark, including applicable US securities laws. The capital increase is carried out without any pre-emption rights for existing shareholders or others.The new shares (i) are ordinary shares without any special rights and are negotiable instruments, (ii) give the right to dividends and other rights in relation to TORM as of the date of issuance and (iii) are expected to be admitted to trading and official listing on Nasdaq Copenhagen as soon as possible.After the capital increase, TORM's share capital totals to USD 1,019,306.41 divided into 101,930,641 A-shares with a nominal value of USD 0.01 each. Each A-share carries one vote.Contact
Mikael Bo Larsen, Head of Investor Relations
Tel.: +45 5143 8002About TORMTORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For further information, please visit www.torm.com.Safe Harbor Statement as to the FutureMatters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements.The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections.Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of newbuildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries;  effects of new products and new technology in our industry;  new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers.In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.This information was brought to you by Cision http://news.cision.comhttps://news.cision.com/torm-plc/r/torm-plc-capital-increase-in-connection-with-exercise-of-restricted-share-units-as-part-of-torm-s-in,c4321103The following files are available for download:https://mb.cision.com/Main/21247/4321103/3982020.pdf07-2026 - TORM plc capital increase in connection with RSU exercise as part of TORM’s incentive program 



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Original: TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM's incentive program

TORM plc - Notice of and Complete Proposals for the Annual General Meeting 2026March 5, 2026 3:30 AM
PR Newswire (US)

HELLERUP, Denmark, March 5, 2026 /PRNewswire/ -- Reference is made to TORM plc's (NASDAQ: TRMD) (NASDAQ: TRMD A) company announcement dated 5 March 2026. Please find enclosed formal notice of, and full details of the business to be proposed at, the Annual General Meeting ("AGM") of TORM plc to be held at noon (London time) on Wednesday, 15 April 2026.Contacts
Christopher Everard, General Manager, Tel.: +44 7920 494 853
Mikael Bo Larsen, Head of Investor Relations, Tel.: +45 5143 8002
Joakim Nørholm Vasehus, Head of Communication, Tel.: +45 3037 9012About TORMTORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For further information. please visit www.torm.com.Safe Harbor Statement as to the FutureMatters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements.The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections.Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of newbuildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries;  effects of new products and new technology in our industry;  new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers.In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IT CONTAINS DETAILS OF PROPOSALS RELATING TO TORM plc (THE "COMPANY") ON WHICH YOU ARE BEING ASKED TO VOTE.If you are in any doubt about the contents of this Circular or as to the action you should take, you are recommended to immediately seek your own personal financial advice from an appropriately qualified independent professional adviser duly authorized pursuant to the Financial Services and Markets Act 2000 (as amended) if you are in the United Kingdom, or from another appropriately authorized independent financial adviser if you are outside the United Kingdom.If you sell or transfer or have sold or otherwise transferred all of your A-shares in the capital of the Company, please forward this Circular and any accompanying document(s), as soon as possible, to the purchaser, transferee or agent through whom the sale or transfer was effected for onward transmission to the purchaser or transferee. If you sell or have sold or otherwise transferred only part of your holding of A-shares, you should retain these documents.The distribution of this document and any accompanying document(s) into jurisdictions other than the United Kingdom may be restricted by law and therefore persons into whose possession this document and any accompanying document(s) come should inform themselves about and observe any such restrictions. Any failure to comply with any such restrictions may constitute a violation of securities laws of any such jurisdiction.TORM plc(Incorporated in England and Wales with registered number 09818726)Proposed General Authority for Off-Market Share Purchases and Notice of Annual General MeetingThis Circular should be read in its entirety. Your attention is drawn to the letter from the Chairman of Torm set out in Part I of this document, in which the Directors recommend that you vote in favor of each of the Resolutions set out in the formal notice of annual general meeting (the "AGM") referred to below.Notice of the AGM of the Company to be held at the Company's registered office at 120 Cannon Street, London, EC4N 6AS, United Kingdom on 15 April 2026 at 12:00 noon (BST) is set out at the end of this Circular.Shareholders will find enclosed a Form of Proxy for use at the AGM. To be valid, the Form of Proxy must be completed, signed and returned, in accordance with the instructions printed thereon, to the Company's registered office as soon as possible and, in any event, so as to arrive no later than 06:00 p.m. (BST) on 13 April 2026. The completion and return of a Form of Proxy will not preclude Shareholders from attending and voting in person at the AGM, should they subsequently wish to do so.Shareholders have the option to dial in to the AGM via the Q4 Platform, rather than attending in person, and to vote on all of the Resolutions in advance of the AGM by completing and returning their Form of Proxy. Shareholders have the option to appoint the Chairman of the AGM or any named individual to act as their proxy to ensure that their votes are duly cast on the Resolutions.YOU ARE REQUESTED TO COMPLETE, SIGN AND RETURN THE ENCLOSED FORM OF PROXY IN ACCORDANCE WITH THE INSTRUCTIONS HEREIN AND PRINTED THEREON.Your attention is drawn to the section entitled "Action to be taken by Shareholders and availability of documents" on page 6 of this Circular. Certain defined terms used throughout this Circular are set out on page 8 to 9 herein.This Circular will be made available for download from the Company's website at www.torm.com.PART ILetter from the Chair of TORM plcTORM plc(Incorporated in England and Wales with registered number 09818726)Directors:Simon Mackenzie Smith (Non-Executive Chairman)Christopher Helmut Boehringer (Non-Executive Director)Jacob Balslev Meldgaard (Executive Director and Chief Executive Officer)Annette Malm Justad (Non-Executive Director)Pär Göran Trapp (Non-Executive Director)Registered Office:120 Cannon StreetLondonEC4N 6AS
                                    United Kingdom5 March 2026To Shareholders and, for information purposes only, to holders of restricted share unitsDear Shareholder,PROPOSED GENERAL AUTHORITY FOR OFF-MARKET SHARE PURCHASES AND NOTICE OF ANNUAL GENERAL MEETING1. IntroductionI am writing in connection with the Resolutions to be proposed at the forthcoming AGM of TORM plc ("TORM" or the "Company") to be held at 12:00 noon (BST) on Wednesday, 15 April 2026 at the Company's offices at 120 Cannon Street, London EC4N 6AS, United Kingdom. Your attention is drawn to the recommendations of the Directors as set out in paragraph 7 of this letter.In particular, I am writing to provide you with details of the proposed off-market purchase of certain existing A-shares (the "Share Buyback").The Directors have taken all reasonable care to ensure that the facts stated in this Circular are true and accurate in all material aspects, and that there are no material facts, the omission of which would make misleading any statement contained in this Circular, whether of fact or opinion.The Definitions section on pages 8 to 9 contains definitions of certain words and terms used throughout this Circular. Accordingly, please refer to this section as you review this Circular, as necessary.2. Proposed Share BuybacksBackground to and reasons for the proposed Share BuybacksResolutions 11 and 12 are proposed in order to permit the Company to buy back up to a maximum aggregate number of 10,000,000 A-shares, being approximately 9.87 per cent. of the Company's existing issued share capital of 101,332,707 A-shares as at the Latest Practicable Date and, as a result, either hold the A-shares bought back in treasury or cancel them to reduce its share capital. These are being proposed as two separate Resolutions as the Company's A-shares are held through two different registered members and the holders of the relevant shares that are or that are intended may be the subject of proposed off-market purchases (being, in each case, the relevant registered member) are not permitted to vote such shares (and any Resolution that would not have been approved but for such shares being voted would be invalid).Resolution 11 would allow the Company to buy back its own A-shares that are traded on Nasdaq Copenhagen and on Nasdaq in New York and held by Cede & Co as the registered member. Authority is being sought for the Company to purchase a maximum aggregate number of 10,000,000 A-shares (being approximately 9.87 per cent. of the Company's existing issued share capital as at the date of this Circular), less any A-shares bought back pursuant to Resolution 12.Resolution 12 would allow the Company to buy back its own A-shares that are not currently traded on Nasdaq in Copenhagen or Nasdaq in New York and which are held by Computershare DR Nominees Limited as the registered member (and beneficially held by OCM Njord). Authority is therefore being sought for the Company to purchase a maximum aggregate number of 7,500,000 A-shares (being approximately 7.4 per cent. of the Company's existing issued share capital as at the date of this Circular), less any A-shares exceeding 2,500,000 A-shares bought back pursuant to Resolution 11.The total number of buybacks under resolutions 11 and 12 cannot exceed 10,000,000 A-shares in aggregate, being 9.87 per cent of the Company's existing issued share capital as at the date of this Circular. The authorization under Resolution 12 for Share buybacks under Buyback Contract B for A-shares held by CDRNL (in respect of which OCM Njord is beneficial owner) has been set at 75% of the number of A-shares that may be bought back in aggregate under both Buyback Contract A and Buyback Contract B because the price for buybacks under Buyback Contract B is set by the price achieved in the same trading period, and therefore always dependent on buybacks being made in that trading period, under Buyback Contract A. Therefore, if the aggregate authority of 10,000,000 A-shares were to be fully used by buybacks of 2,500,000 A-shares under Resolution 11 and 7,500,000 A-shares under Resolution 12, this would mean a ratio of 1 A-share bought back on Nasdaq in Copenhagen or Nasdaq in New York under Buyback Contract A for every 3 A-shares bought back from OCM Njord under Buyback Contract B. However, there is no fixed ratio for buybacks as between Buyback Contract A and Buyback Contract B in any trading period or otherwise, so that the actual ratio is likely to differ from that 1:3 ratio in any trading period and across all trading periods. Further, OCM Njord will not be obliged to participate in such buyback(s) in any specified proportion or at all, so that the actual number of A-shares bought back under Resolution 12/Buyback Contract B in any trading period may substantially exceed or fall below the number of A-shares bought back under Resolution 11/Buyback Contract A in that trading period, subject always to the maximum of 7,500,000 A-shares that may be bought back under Resolution 12/Buyback Contract B.In the case of each of Resolution 11 and Resolution 12 the buybacks are proposed to be effected via an off-market purchase (as defined in Section 693(2) of the Companies Act) using the prescribed method set out in the Companies Act.By way of background, the buyback resolution approved by Shareholders at the Company's AGM held on 11 April 2024 (the "AGM 2024 Buyback Resolution") permitted the Company to buy back its A-shares by way of market purchases on recognized investment exchanges pursuant to section 693(4) of the Companies Act, but excluding overseas exchanges. As Nasdaq in Copenhagen and Nasdaq in New York are overseas exchanges, buybacks conducted on these markets do not qualify as market purchases under the Companies Act (and the AGM 2024 Buyback Resolution does not authorize off-market purchases). Accordingly, Shareholder approval for the Company to undertake off-market purchases is now being sought pursuant to Resolutions 11 and 12 to enable buybacks of A-shares on these exchanges, as well as of the A-shares held by Computershare DR Nominees Limited as the registered member (and beneficially held by OCM Njord) that are not traded on those exchanges, in substitution for the AGM 2024 Buyback Resolution.The Directors regard the ability to repurchase existing issued A-shares, in suitable circumstances, to be an important part of the financial management of the Company and therefore consider it desirable to obtain the authority to make purchases by way of off-market purchases under Resolutions 11 and 12. The Directors intend that the Company will only repurchase A-shares under these authorities if, at the relevant time and in light of the then prevailing market conditions, they consider that it would be in the best interests of the Company and its Shareholders generally (including, without limitation, where this is anticipated to increase earnings per share), and only if the Company has sufficient distributable reserves available.Such intended buybacks can only be made using a buyback contract, the terms of which must be approved by Shareholders in accordance with Section 694 of the Companies Act. The Company is therefore seeking approval of the terms and form of Buyback Contract A and Buyback Contract B, respectively, in relation to Resolution 11 and Resolution 12 respectively.  The Buyback Contracts are proposed to be entered into with (i) in the case of purchases of A-shares (or interests representing them) traded on Nasdaq in Copenhagen and Nasdaq in New York and held through Cede & Co as the registered member, the Bank, which, acting as principal, will purchase the relevant A-shares (or interests representing them) on such markets and on-sell them to the Company pursuant to Buyback Contract A and (ii) in the case of A-shares (or interests representing them) held through Computershare DR Nominees Limited as the registered member, OCM Njord (as beneficial owner).The terms of the Buyback Contracts concerned are broadly similar, save to reflect details of (i) the seller, being the Bank for A-shares traded on Nasdaq in Copenhagen and Nasdaq in New York and OCM Njord for A-shares beneficially held by it, (ii) the registered member that holds the relevant A-shares, being Cede & Co for A-shares traded on Nasdaq in Copenhagen and Nasdaq in New York, and Computershare DR Nominees Limited for A-shares not traded on those markets and held beneficially by OCM Njord, and (iii) the Bank being entitled to act as agent for the Company under Buyback Contract B. Details of the price and number of A-shares to be purchased pursuant to the Buyback Contracts will be determined at the time of execution (with the maximum quantities being those authorized under Resolutions 11 and 12). The minimum price, exclusive of expenses, that may be paid for an A-share pursuant to a Buyback Contract is USD0.01 (being the nominal value of an A-share). The maximum price, in each case exclusive of stamp duty, registrar or similar expenses, that can be paid for an A-share is the higher of the price of the last independent trade and the highest current independent bid for an A-share on the trading venues where the purchase is carried out. As noted above, the pricing of the non-traded A-shares held by OCM Njord will be determined in any trading period by reference to the pricing achieved by the Bank for the A-shares traded on Nasdaq in Copenhagen and Nasdaq in New York in that trading period so as to ensure that OCM Njord's beneficially held A-shares are bought back at the same pricing as the A-shares bought back on Nasdaq in Copenhagen and Nasdaq in New York. As also noted above, OCM Njord will not be obliged to participate in such buyback(s) in the same proportion or at all and buybacks under Buyback Contract B are not limited to any fixed ratio of buybacks under Buyback Contract A.Although classed as 'off-market' purchases for the purposes of the Companies Act, the purchases of A-shares (or interests representing them) by the Bank are expected to constitute on market buybacks on Nasdaq in Copenhagen and Nasdaq in New York under the rules of the relevant trading venue and any purchases of A-shares (or interests representing them) carried out in connection with the buybacks, including purchases of A-shares (or interests representing them) by the Bank will comply with the relevant rules, including Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended, and Regulation (EU) no. 596/2014 on Market Abuse, as amended, as applicable.If Resolutions 11 and 12 are passed, the authorities afforded by them will be effective, and the Company may buy back A-shares pursuant to the form of Buyback Contract A and Buyback Contract B, until the end of the Company's next annual general meeting to be held in 2027 (or 11.59 p.m. (BST) on 15 April 2027, if earlier). In each case, the Company may enter into a Buyback Contract during this period to purchase relevant A-shares which will or may be completed or executed wholly or partly after the authority ends and the Company may purchase A-shares pursuant to any such contract as if the authority had not ended. Shareholder Approval The holders of the A-shares are entitled to receive notice of, attend, speak and vote at the AGM pursuant to the Articles of Association, save that the effect of the Companies Act is that, in counting votes, the number of shares voting in favor which are the subject of the Buyback Contracts (which, in the case of each resolution, will be a maximum of the number of A-shares potentially subject to each Buyback Contract) may not be counted and must be deducted from the total number of votes cast in favor of the relevant Buyback.Resolutions 11 and 12 are therefore being proposed as ordinary resolutions, which require a majority in favor of the votes cast by the Shareholders attending and voting in person or by proxy in order to be passed (excluding the number of shares which are the subject of the Buyback Contracts, as outlined above).3. Explanatory notes to the notice of AGMThe following notes explain the proposed Resolutions. Resolutions 1 to 12 are proposed as Ordinary Resolutions. For each of these Resolutions to be passed, more than half of the votes cast by the Shareholders entitled to vote attending and voting in person or by proxy must be in favor of the Resolution (in the case of Resolutions 11 and 12, excluding the number of shares voting in favor which are the subject of the Buyback Contracts as further explained at the end of paragraph 2 under 'Shareholder Approval'). Resolution 13 is proposed as a special resolution, which requires a majority in favor of at least 75 per cent. of the votes cast by the Shareholders entitled to vote attending and voting in person or by proxy in order to be passed.Resolution 1: Annual Report and AccountsThe Directors must present the audited annual accounts and the Directors' and Auditor's Reports thereon for the financial year ended 31 December 2025. A copy of the Directors' and Auditor's Reports and the financial statements is available on the Company's website (www.torm.com). The Company's Shareholders will be asked to approve the Directors' and Auditor's Reports at the AGM.Resolutions 2 and 3: Remuneration report and Remuneration PolicyThe Company's Shareholders will be asked to approve the remuneration report and Remuneration Policy in the annual report and accounts at the AGM.Resolutions 4 and 5: Reappointment and remuneration of the auditorsThe Company must appoint auditors at each general meeting at which accounts are presented to Shareholders to hold office until the conclusion of the next such meeting. Resolution 4 seeks Shareholder approval to reappoint Ernst & Young LLP as the Company's auditors. In accordance with normal practice, Resolution 5 seeks authority for the Company's Directors to fix the auditor's remuneration.Resolutions 6 to 10: Reappointment of DirectorsThe Company's Articles of Association require every Director to retire at the end of the first AGM after their appointment and at each subsequent AGM. Simon Mackenzie Smith, Christopher H. Boehringer, Annette Malm Justad, Pär Göran Trapp and Jacob Meldgaard are standing for reappointment in accordance with these provisions.  The biographical details of all Directors can be found on the Company's website at https://www.torm.com/about/leadership/board-of-directors/default.aspx.Resolution 11: Off-Market Purchases (Buyback Contract A)As outlined above, this is an ordinary resolution to authorize limited off-market purchases of the Company's A-shares. This authority is limited to a maximum aggregate number of 10,000,000 A-shares in respect of Buyback Contract A, less any A-shares bought back pursuant to Buyback Contract B.Resolution 12: Off-Market Purchases (Buyback Contract B)As outlined above, this is an ordinary resolution to authorize limited off-market purchases of the Company's A-shares. This authority is limited to a maximum aggregate number of 7,500,000 A-shares in respect of Buyback Contract B, less any A-shares exceeding 2,500,000 A-shares bought back pursuant to Buyback Contract A.Resolution 13: Approval of updated Articles of AssociationsAs announced on 06 January 2026, the "threshold date" defined in the Articles of Association occurred on that date, with the effect that the position of the B-Director ceased to exist, the limitations on the Company's actions set out in Article 137 ceased to have effect and the Company's B-shares and C-shares have since been redeemed.   Accordingly, the Company is proposing to adopt new Articles of Association in substitution for the existing Articles of Association to remove all references to B-shares, C-shares, the B-Director, Article 137 and related definitions and to make certain consequential and other minor clarificatory changes.  A copy of the Company's existing and proposed new Articles of Association marked to show all the changes will be available for inspection on the Company's website.4. Dial-in option for AGMShareholders have the option to dial in to the Company's AGM via the Q4 Platform, rather than attending in person, and to vote on all Resolutions in advance of the AGM by completing their Form of Proxy. Shareholders should complete and sign the Form of Proxy sent to them with this Circular and return it to the Company's registered office as soon as possible.Shareholders are invited to submit any questions on the business of the meeting in advance of the AGM to ir@torm.com no later than 06:00 p.m. (BST) on 11 April 2026, and the Board will, where appropriate, endeavor to provide answers in writing at the meeting before publishing such document on the Company's website.Shareholders can also follow the AGM's proceedings by accessing an online audio and visual feed, via the following link:Webcast Audience URL: https://events.q4inc.com/attendee/194589656 The link will be accessible at approximately 11.55 a.m. (BST) on 15 April 2026. However, please note that Shareholders will not be able to vote at the AGM via such link.5. AGM expensesThe costs and expenses of convening the AGM and holding any adjourned meeting will be satisfied by the Company and will be incurred irrespective of whether or not the Resolutions are passed by the requisite majorities and the business of the AGM successfully concluded.6. Dividend policyIn accordance with the Company's Distribution Policy, the Board declares a quarterly dividend based on the Group's cash position at the end of each quarter. The Board decided to declare an interim dividend of US$70.9m at the end of the fourth quarter of 2025. Consequently, the Board does not recommend payment of a final dividend for the Company's financial year ended 31 December 2025. 7. RecommendationThe Directors consider Resolutions 1 to 12 (inclusive) to be in the best interests of the Company and its Shareholders as a whole.Accordingly, the Directors unanimously recommend that Shareholders vote in favor of Resolutions 1 to 12 (inclusive) to be proposed at the AGM, as they intend so to do, or procure to be done, in respect of their own beneficial holdings of A-shares or A-shares they control, amounting to, in aggregate, 628,803 A-shares representing approximately 0.62 per cent. of the existing issued share capital of the Company (including the beneficial holdings of their close relatives and in respect of Resolutions 11 and 12 excluding any votes that may not be cast in respect of the maximum buyback shares). 8. Action to be taken by Shareholders and availability of documentsa) Annual General MeetingA formal notice convening the AGM and setting out the proposed business of the meeting is incorporated at the end of this Circular.A Form of Proxy for use in respect of the AGM is enclosed with this Circular, and Shareholders are requested to complete, sign and return the Form of Proxy to the Company's registered office address at 120 Cannon Street, London EC4N 6AS as soon as possible and in any event so as to be received by no later than 48 hours before the time of the meeting. The completion and return of a Form of Proxy will not prevent Shareholders from attending the AGM in person, speaking and voting if they subsequently wish to do so.To be valid, the Form of Proxy and any power of attorney or other authority under which it is signed (or a notarially certified copy thereof) must be deposited at the Company's registered office address above by no later than 06:00 p.m. (BST) on 13 April 2026.Voting in respect of shares traded on Nasdaq in CopenhagenFor those Shareholders who hold their A-shares via Euronext Securities and which are trading on Nasdaq in Copenhagen, you may register and vote electronically at www.euronext.com/cph-agm by no later than 06:00 p.m. (BST) on 13 April 2026. Alternatively, you may return a Form of Proxy or registration form. The relevant dated and signed form must reach Euronext Securities by 06:00 p.m. (BST) on 13 April 2026 either via e-mail (CPH-investor@euronext.com) or by post to Euronext Securities, Nicolai Eigtveds Gade 8, 1402 Copenhagen K, Denmark.Voting in respect of shares traded on Nasdaq in New YorkShareholders who hold A-shares traded on Nasdaq in New York should return the voting instructions as indicated on the voter instruction form.Required Majorities and QuorumThe majority required for the passing of each of the Ordinary Resolutions at the AGM is a simple majority of the total number of votes cast in person or by proxy (in the case of Resolutions 11 and 12, excluding any votes that may not be cast as noted above in section 2 under the heading 'Shareholder Approval').The quorum requirement for the AGM is two or more Shareholders who are entitled to vote, being present in person or by proxy or a duly authorized representative of a corporation which is a member. If, within five minutes after the time appointed for the AGM (or such longer interval not exceeding one hour as the Chairman may consider fit to allow), a quorum is not present, the AGM shall stand adjourned to a day (but not less than ten days later, excluding the day on which the meeting is adjourned and the day for which it is reconvened), the time and place to be decided by the Chairman, and at such adjourned meeting, one member present in person or by proxy and entitled to vote will constitute a quorum.b) Inspection of documentsCopies of the following documents will be made available for inspection at the Company's registered office during normal business hours on any Business Day from the date of this Circular until the conclusion of the AGM and at the place of the AGM for at least 15 minutes prior to, and during, the AGM:       (i) the Articles of Association;
       (ii) this Circular and the Form of Proxy; and
       (iii) the Buyback Contracts.c) Other available documentsThe Annual Report and accounts for the Company's financial year ended 31 December 2025 and a Proxy Statement will be made available to view and download from the Company's website at: https://www.torm.com/investors/reports-and- presentations/financial-reports/default.aspx.If you have any questions in respect of the matters set out in this Circular or with respect to voting on the Resolutions, please do not hesitate to contact Christopher Everard on +44 7920 494 853.Yours faithfullySimon Mackenzie SmithChairExpected Timetable of Principle EventsEventTime and DateDeadline for submission of any questions in relation to the business of the AGM 06:00 p.m. (BST) on 11 April 2026Deadline for receipt of Forms of Proxy for the AGM06:00 p.m. (BST) on 13 April 2026AGM12:00 noon on 15 April 2026Expected Effective Time for the Resolutions* 12:00 noon on 15 April 2026(or, if later, the effective time and date upon which Shareholders approve the Resolutions).NotesEach of the times and dates set out above and elsewhere in this Circular are indicative only and accordingly subject to change.If any of the details contained in the timetable above should change, the revised time(s) and/or date(s) will be notified to Shareholders by means of an announcement through a Regulatory Information Service.References to time in this Circular are to London time unless otherwise stated.DefinitionsThe following definitions apply throughout this Circular and the accompanying Form of Proxy unless the context requires otherwise:AGM The annual general meeting of the Company to be held on 15 April 2026 (or any adjournment thereof), notice of which is set out at the end of this Circular.AGM 2024 Buyback Resolution Resolution 12 on authority for market purchases of the Company's own shares as passed at the annual general meeting of the Company held on 11 April 2024.Articles of AssociationThe Articles of Association of the Company adopted by way of a special resolution passed on 15 March 2016 and amended by way of a special resolution passed on 14 April 2021, (or, as relevant, the new Articles of Association proposed to be adopted pursuant to Resolution 13).A-sharesThe A-shares of USD 0.01 each in the capital of the Company.Bank Means (i) DnB Carnegie, Inc. or (ii) DnB Carnegie Investment Bank, Fillal AF DnB Carnegie Investment Bank AB, Sverige, as the context requires.Board or the DirectorsThe board of directors of the Company.B-shareThe B-share of USD0.01 in the capital of the Company has been redeemed.BSTBritish Summer Time.Business DayAny day other than a Saturday, Sunday or UK Public Holiday on which banks are open for normal banking business in London.Buyback ContractEach of Buyback Contract A and Buyback Contract B, or any of them, as applicable, and Buyback Contracts shall mean all of them.Buyback Contract AThe form of buyback contract to be entered into by the Company and the Bank as the relevant selling Shareholder (in respect of which Cede & Co is the registered Shareholder) and Buyback Contracts A shall mean any or all of them.Buyback Contract BThe form of buyback contract to be entered into by the Company and OCM Njord as the relevant selling Shareholder (in respect of which CDRNL is the registered Shareholder) and Buyback Contracts B shall mean any or all of them. CDRNLComputershare DR Nominees Limited.Circular This document including, for the avoidance of doubt, the Letter from the Chairman and Notice of AGM.Companies Act or ActThe Companies Act 2006, as amended, supplemented or replaced from time to time.Company or TORMTORM plc.C-shareThe C-share of USD 0.01 in the capital of the Company has been redeemed. Distribution PolicyThe distribution policy of the Company. DKKMeans the lawful currency of Denmark.Effective TimeThe time at which the Resolutions are expected to become effective, being 12:00 noon (BST) on 15 April 2026 (or, if later, the effective time and date upon which Shareholders approve the Resolutions) or such other time as the Directors may in their absolute discretion determine.ESGEnvironmental, Social and Governance.Euronext Investor ServicesEuronext Securities (www.euronext.com) which administers the A-shares listed on Nasdaq in Copenhagen. Form of ProxyThe Form of Proxy appended to this Circular for the use by the Shareholders in respect of voting at the AGM.GroupThe Company and its consolidated subsidiaries, including TORM A/S and its consolidated subsidiaries. Latest Practicable Date28 February 2026, being the latest practicable date prior to the publication of this document.Nasdaq in CopenhagenThe stock exchange known as Nasdaq in Copenhagen where the A-shares (or interests representing them) are listed and available for trade.Nasdaq in New YorkThe stock exchange known as Nasdaq in New York where the A-shares (or interests representing them) are listed and available for trade.Notice of AGMThe notice convening the AGM, which is set out at the end of this Circular. Ordinary ResolutionsThe ordinary resolutions to be proposed at the AGM which are set out in the Notice of AGM, being Resolutions 1 to 12 (inclusive).Q4 PlatformThe access platform run by Q4 Inc.  Registered Office120 Cannon Street, London EC4N 6AS, United Kingdom, being the registered office of the Company.Regulatory Information ServiceMeans a regulatory information service as defined in the FCA Handbook.Remuneration PolicyThe Remuneration Policy of the Company as set out on pages 135 to 140 of the Company's Annual Report. ResolutionsThe resolutions to be proposed at the AGM details of which are set out in the Notice of AGM.Share BuybackThe intended potential off-market purchases of certain of the Company's A-shares that are held by both (i) Cede & Co and (ii) Computershare DR Nominees Limited as set out in the Notice of AGM.ShareholdersHolders of the Shares. Special Resolution The special resolution to be proposed at the AGM as set out in the Notice of AGM, being Resolution 13.USD or US$Means the lawful currency of the United States of America.TORM plc(Incorporated in England and Wales with registered number 09818726)Notice of Annual General MeetingNOTICE IS HEREBY GIVEN that the Annual General Meeting of TORM plc ("TORM" or the "Company") will be held at the Company's registered office at 120 Cannon Street, London EC4N 6AS, United Kingdom, on Wednesday, 15 April 2026 at 12:00 noon (BST).To consider and, if thought appropriate, pass the following Resolutions which will be proposed as ordinary and special resolutions as set out below:Ordinary ResolutionsTHAT the Company's Annual Report and accounts for its financial year ended 31 December 2025 (the "Annual Report"), together with the Directors' report and the Auditor's report thereon, be received and adopted.THAT the Company's Remuneration Committee Report, as set out on pages 123 to 134 of the Company's Annual Report, be approved.THAT the Company's Remuneration Policy, as set out on pages 135 to 140 of the Company's Annual Report, be approved.THAT Ernst & Young LLP be reappointed as auditor of the Company to hold office from the conclusion of this meeting until the conclusion of the next general meeting of the Company at which accounts are laid.THAT the Directors be authorized to fix the remuneration of the auditors.THAT the Company's Non-Executive Chairman, Simon Mackenzie Smith, be reappointed as a Director and Chairman of the Company.THAT the Company's Non-Executive Director, Christopher H. Boehringer, be reappointed as a Director of the CompanyTHAT the Company's Non-Executive Director, Göran Trapp, be reappointed as a Director of the Company.THAT the Company's Non-Executive Director, Annette Malm Justad, be reappointed as a Director of the Company.THAT the Company's Executive Director, Jacob Meldgaard, be reappointed as a Director of the Company.THAT, in substitution for the AGM 2024 Buyback Resolution, for the purposes of Section 694 of the Companies Act 2006, the terms of the buyback contract proposed to be entered into by the Company (in the form produced to the AGM marked as "Buyback Contract A" and made available at the Company's registered office not less than 15 days prior to the Annual General Meeting) (each being a "Buyback Contract A", together the "Buyback Contracts A") for off-market purchases (as defined in Section 693(2) of the Companies Act 2006) by the Company of its A-shares of USD0.01 each be and are approved, and the Company be and is authorized to purchase A-shares pursuant to Buyback Contracts A, provided that:
(a) such authority be limited to a maximum number of 10,000,000 A-shares purchased or committed to be purchased pursuant to Buyback Contracts A (less any A-shares purchased or committed to be purchased pursuant to Buyback Contracts B);
(b) the minimum price which may be paid for an A-share is USD0.01 (exclusive of stamp duty expenses);
(c) in the case of A-shares purchased by the seller that are eligible for trading on Nasdaq in Copenhagen, a maximum price (exclusive of stamp duty and registrar or similar expenses) which cannot be more than the higher of the price of the last independent trade and the highest current independent bid for an A-share on Nasdaq in Copenhagen;
(d) in the case of A-shares purchased by the seller that are eligible for trading on Nasdaq in New York, a maximum price (exclusive of stamp duty and registrar or similar expenses) which cannot be more than the higher of the price of the last independent trade and the highest current independent bid for an A-share on Nasdaq in New York;
(e) such authority shall apply until the end of the Company's next annual general meeting to be held in 2027 (or 11.59 p.m. (BST) on 15 April 2027, if earlier), unless previously renewed, revoked or varied by the Company in a general meeting; and
(f) the Company may enter into Buyback Contracts A to purchase the A-shares which will or may be completed or executed wholly or partly after the authority ends and the Company may purchase A-shares pursuant to any such Buyback Contract A as if the authority has not ended.THAT, in substitution for the AGM 2024 Buyback Resolution, for the purposes of Section 694 of the Companies Act 2006, the terms of the buyback contract proposed to be entered into by the Company (in the form produced to the AGM marked as "Buyback Contract B" and made available at the Company's registered office not less than 15 days prior to the Annual General Meeting) (each being a "Buyback Contract B", together the "Buyback Contracts B") for off-market purchases (as defined in Section 693(2) of the Companies Act 2006) by the Company of its A-shares of USD0.01 each be and are approved, and the Company be and is authorized to purchase A-shares pursuant to Buyback Contracts B, provided that:
(a) Such authority be limited to a maximum number of 7,500,000 A-shares purchased or committed to be purchased pursuant to Buyback Contracts B (less any A-shares exceeding 2,500,000 A-shares purchased or committed to be purchased pursuant to Buyback Contracts A);
(b) The minimum price which may be paid for an A-share is USD0.01 (exclusive of stamp duty expenses);
(c) In the case of A-shares purchased by the Company which are not eligible for trading on Nasdaq in Copenhagen but shall be purchased with reference to the pricing formula for the A-shares bought back pursuant to Buyback Contract A which are eligible for trading on Nasdaq in Copenhagen, a maximum price (exclusive of stamp duty and registrar or similar expenses) which cannot be more than the higher of the price of the last independent trade and the highest current independent bid for an A-share on Nasdaq in Copenhagen;
(d) In the case of A-shares purchased by the Company which are not eligible for trading on Nasdaq in New York but shall be purchased with reference to the pricing formula for the A-shares bought back pursuant to Buyback Contract A which are eligible for trading on Nasdaq in New York, a maximum price (exclusive of stamp duty and registrar or similar expenses) which cannot be more than the higher of the price of the last independent trade and the highest current independent bid for an A-share on Nasdaq in New York;
(e) Such authority shall apply until the end of the Company's next annual general meeting to be held in 2027 (or 11.59 p.m. (BST) on 15 April 2027, if earlier), unless previously renewed, revoked or varied by the Company in a general meeting; and
(f) The Company may enter into Buyback Contracts B to purchase the A-shares which will or may be completed or executed wholly or partly after the authority ends and the Company may purchase A-shares pursuant to any such Buyback Contract B as if the authority has not ended.

Special ResolutionsTHAT, with effect from the conclusion of the meeting the draft Articles of Association produced to the meeting be adopted as the Articles of Association of the Company in substitution for, and to the exclusion of, the Company's existing Articles of Association.By order of the BoardSimon Mackenzie SmithChairDated: 5 March 2026Registered Office: 120 Cannon Street, London EC4N 6AS, United Kingdom.Notes:(a) Only those Shareholders registered in the Company's register of members at:       (i) 06:00 p.m. (BST) on 13 April 2026; or,
       (ii) if this meeting is adjourned, at 06:00 p.m. (BST) on the day two days prior to the adjourned meeting,shall be entitled to attend, speak and vote at the meeting. Changes to the register of members after the relevant deadline shall be disregarded in determining the rights of any person to attend and vote at the meeting.(b) Information regarding the meeting, including the information required by section 311A of the Companies Act 2006, can be found at www.torm.com.(c) If you wish to attend the meeting in person, please attend the Company's office at 120 Cannon Street, London EC4N 6AS, United Kingdom on 15 April 2026 at 12:00 noon (BST).(d) If you are a Shareholder who is entitled to attend and vote at the meeting, you are entitled to appoint one or more proxies to exercise all or any of your rights to attend, speak and vote at the meeting, and you should have received a proxy form with this notice of meeting. A proxy does not need to be a Shareholder of the Company but must attend the meeting to represent you. You can only appoint a proxy using the procedures set out in these notes and the notes to the Proxy Form. To appoint more than one proxy, please contact the Company on tel. +44 7920 494 853 or email chev@torm.com.(e) To be valid, an instrument appointing a proxy and any power of attorney or other authority under which the proxy instrument is signed (or a notarially certified copy thereof) must be deposited at the Company's registered office by 06:00 p.m. (BST) on 13 April 2026.(f) The completion and return of a Form of Proxy will not affect the right of a member to attend, speak and vote in person at the meeting convened by this notice. If you have appointed a proxy and attend the meeting in person, your proxy appointment will automatically be terminated.(g) A vote withheld is not a vote in law, which means that the vote will not be counted in the calculation of votes for or against the resolution. If no voting indication is given, your proxy will vote or abstain from voting at his or her discretion. Your proxy will vote (or abstain from voting) as he or she thinks fit in relation to any other matter which is put before the meeting.(h) In the case of joint holders, where more than one of the joint holders completes a proxy appointment, only the appointment submitted by the most senior holder will be accepted. Seniority is determined by the order in which the names of the joint holders appear in the Company's register of members in respect of the joint holding (the first-named being the most senior).(i) Shareholders may change proxy instructions by submitting a new proxy appointment using the methods set out above. Note that the cut-off time for receipt of proxy appointments also applies in relation to amended instructions; any amended proxy appointment received after the relevant cut-off time will be disregarded.(j) If you submit more than one valid proxy appointment, the appointment received last before the latest time for the receipt of proxies will take precedence.(k) A Shareholder may change a proxy instruction, but to do so you will need to inform the Company in writing by either:       (i) Sending a signed hardcopy notice clearly stating your intention to revoke your proxy appointment to the Company. In the case where a Shareholder is a company, the revocation        notice must be executed under its common seal or signed on its behalf by an officer of the company or an attorney for the company. Any power of attorney or any other authority             under which the revocation notice is signed (or a duly certified copy of such power or authority) must be included with the revocation notice; or
       (ii) Sending an email to ir@torm.com.(l) In either case, the revocation notice must be received by the Company no later than 06:00 p.m. (BST) on 13 April 2026.(m) If you attempt to revoke your proxy appointment, but the revocation is received after the time specified, your original proxy appointment will remain valid unless you attend the meeting and vote in person.(n) A corporation which is a Shareholder can appoint one or more corporate representatives who may exercise, on its behalf, all its powers as a Shareholder provided that no more than one corporate representative exercises powers over the same share.(o) As at 06:00 p.m. (GMT) on 28 February 2026, which is the Latest Practicable Date before publication of this notice, the Company's issued share capital comprised 101,332,707 common A- shares of USD0.01 each.(p) Each A-share carries the right to one vote on all Resolutions proposed at this Annual General Meeting (in the case of Resolutions 11 and 12 excluding any votes that may not be cast by the affected registered Shareholder). In order to comply with the requirements of the Companies Act, each of Resolutions 11 and 12 will be taken on a poll.  Accordingly, the total number of voting rights in the Company in respect of the Resolutions proposed at this Annual General Meeting as at the Latest Practicable Date is 101,332,707 votes on all resolutions (in the case of Resolutions 11 and 12, excluding any votes that may not be cast by the affected registered Shareholder).(q) Any member attending the meeting has the right to ask questions. The Company must answer all questions related to the business being dealt with at the meeting unless:(i) Answering the question would interfere unduly with the preparation for the meeting or involve the disclosure of confidential information;       (ii) The answer has already been given on a website in the form of an answer to a question; or
       (iii) It is undesirable in the interests of the Company or the good order of the meeting that the question be answered.(r) A memorandum which outlines the key terms of the contracts for services of the Executive Director and each of the Non-Executive Directors, and the Buyback Contracts is available for inspection at the Company's registered office during normal business hours and at the place of the meeting from at least 15 minutes prior to the meeting until the end of the meeting.(s) The quorum for the meeting is two or more members who are entitled to vote on each of the Resolutions proposed at this AGM of the Company, present in person or by proxy or a duly authorized representative of a corporation which is a member.(t) The Ordinary Resolutions must be passed by a simple majority of the total number of votes cast for and against such Resolution (in the case of Resolutions 11 and 12, excluding any votes that may not be cast by the affected registered Shareholder). The Special Resolution must be passed by at least 75 per cent. of the total number of votes cast for and against such resolution.(u) At the meeting, the vote may be taken by show of hands or by poll (in the case of Resolutions 11 and 12, excluding any votes that may not be cast by the affected registered Shareholder). On a poll, every member who is present in person or by proxy shall be entitled to one vote for every share held, except in the case of Resolutions 11 and 12, excluding any votes that may not be cast by the affected registered Shareholder.(v) If, within five minutes after the time appointed for the meeting (or such longer interval not exceeding one hour as the Chairman of the meeting may think fit to allow) a quorum is not present, the meeting shall stand adjourned to a day (but not less than ten days later, excluding the day on which the meeting is adjourned and the day for which it is reconvened), time and place to be decided by the Chairman, and at such adjourned meeting one member present in person and by proxy shall be a quorum.(w) Pursuant to regulation 41 of The Uncertificated Securities Regulations 2001, members will be entitled to attend and vote at the meeting if they are registered on the Company's register of members at 06:00 p.m. (BST) on 13 April 2026.TORM plc(the "Company")(Incorporated in England and Wales with registered number 09818726) Form of Proxyfor use by Shareholders at the Annual General Meeting to be held on 15 April 2026I/we, the undersigned Shareholder(s) of the Company hereby appoint: The Chairman of the Meeting; or No. of shares:  ……………………………………………………………………………………………………………………………………………….
(Insert name and address of alternative proxy in capital letters)as my/our proxy to vote in my/our name(s) and on my/our behalf at the Annual General Meeting of the Company to be held at 120 Cannon Street, London, EC4N 6AS, United Kingdom on 15 April 2026 at 12:00 noon (BST) and at any adjournment thereof.Please indicate with an "X" in the appropriate boxes below how the proxy should vote and then sign on the next page. If no specific direction as to voting is given, the proxy may vote or abstain at his/her discretion.

ForAgainstWithheldOrdinary Resolutions



Resolution 1: (Adoption of the 2025 Annual Report and accounts)



Resolution 2: (Remuneration Report)



Resolution 3: (Remuneration Policy)



Resolution 4: (Appointment of Ernst & Young LLP)



Resolution 5: (Fix remuneration of the Auditors)



Resolution 6: (Reappointment of Simon Mackenzie Smith)



Resolution 7: (Reappointment of Christopher H. Boehringer)



Resolution 8: (Reappointment of Göran Trapp)



Resolution 9: (Reappointment of Annette Malm Justad)



Resolution 10: (Reappointment of Jacob Meldgaard)



Resolution 11: (Off-Market Purchase of Shares governed by Buyback Contract A)



Resolution 12: (Off-Market Purchase of Shares governed by Buyback Contract B)



 Special Resolutions



Resolution 13: Adoption of updated Articles of Association.



I/we authorize my/our proxy to act at his/her discretion in relation to any other business arising at the meeting (including in respect of whether to adjourn such meeting) and at any adjournment of such meeting.Signature(s): ………………….................................... Dated: …………………....................................Name(s): .............................................(in capital letters)Initials and surnames of joint holders if any……………………………………………………………………………….Address ………………….................................... VP reference no.: ............................................…………………....................................…………………....................................Notes:(a) As a member of the Company, you are entitled to appoint a proxy or proxies to exercise all or any of your rights to attend, speak and vote at a general meeting of the Company. You can only appoint a proxy using the procedures set out in these notes. If the proxy is being appointed in relation to part of your holding only, please enter the number of shares in relation to which they are authorized to act as your proxy in the box next to the proxy's name. If this box is left blank, they will be authorized in respect of your full voting entitlement.(b) Appointment of a proxy does not preclude you from attending the meeting and voting in person. If you have appointed a proxy and attend the meeting in person, your proxy appointment will automatically be terminated.(c) A proxy does not need to be a member of the Company but must attend the meeting to represent you. If you wish to appoint as your proxy someone other than the Chairman of the meeting, cross out the words "the Chairman of the Meeting" and write on the dotted line the full name and address of your proxy. The change should be initialed.(d) In the case of a corporation, the proxy form must be expressed to be executed by the corporation and must be signed by a Director and the secretary or by two Directors or under the hand of a duly authorized officer or attorney.(e) In the case of joint holders, the vote of the person first named in the register of members tendering a vote will be accepted to the exclusion of the votes of the other joint holders.(f) You may appoint more than one proxy provided each proxy is appointed to exercise rights attached to different shares. You may not appoint more than one proxy to exercise rights attached to any one share. If you are appointing more than one proxy, please indicate the number of shares in relation to which they are authorized to act as your proxy and indicate that the proxy appointment is one of multiple appointments being made next to the proxy holder's name. Multiple proxy appointments should be returned in the same envelope.(g) To direct your proxy on how to vote on the resolutions, mark the appropriate box with an "X". To abstain from voting on a resolution, select the relevant "withheld" box. A vote withheld is not a vote in law, which means that the vote will not be counted in the calculation of votes for or against the resolution.(h) In the absence of instructions, the appointed proxy may vote or abstain from voting as he or she thinks fit on the specified resolution and, unless instructed otherwise, the appointed proxy may also vote or abstain from voting as he or she thinks fit on any other business (including amendments to resolutions) which may properly come before the meeting.(i) You are requested to complete and send this Form of Proxy (or a notarially certified copy thereof) by regular mail to the Company's registered office. To be valid, this form must be completed and deposited at the Company's registered office together with the power of attorney or other authority (if any) under which it is signed or a copy of such authority certified notarially, by 06:00 p.m. (BST) on 13 April 2026.To:  TORM authorize Appointment of Corporate RepresentativeThe company named below, being a member of your Company, hereby notifies you of the appointment of __________________________ as its Corporate Representative to attend on its behalf at the Annual General Meeting of your Company to be held on 15 April 2026 and at any adjournment thereof and to vote on the resolutions set forth in the notice of the said meeting.Signature(s): ………………….................................... Dated: …………………....................................Duly authorized for and on behalf of………………………………………………………This information was brought to you by Cision http://news.cision.comhttps://news.cision.com/torm-plc/r/torm-plc---notice-of-and-complete-proposals-for-the-annual-general-meeting-2026,c4316857The following files are available for download:https://mb.cision.com/Main/21247/4316857/3965961.pdf04-2026 - TORM plc - Notice of and Complete Proposals for the Annual General Meeting 2026 



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Original: TORM plc - Notice of and Complete Proposals for the Annual General Meeting 2026

TORM plc Long Term Incentive ProgramFebruary 26, 2026 10:50 AM
PR Newswire (US)

HELLERUP, Denmark, Feb. 26, 2026 /PRNewswire/ -- In accordance with TORM plc's (Nasdaq: TRMD) (Nasdaq: TRMD A) Remuneration Policy adopted by the Annual General Meeting of TORM plc on 14 April 2021, the Board of Directors has as part of a long-term incentive program decided to grant certain employees (the "Participants") Restricted Share Units ("RSUs") in the form of restricted stock options. The RSUs aim at incentivizing the Participants to seek to improve the performance of TORM and thereby the TORM share price for the mutual benefit of themselves and the shareholders of TORM.For 2025, the Participants will be granted a total of 1,356,087 RSUs and, subject to vesting, each RSU will entitle the holder to acquire one TORM A-share. The RSUs will vest over a three-year period, with one third of the grant amount vesting at each anniversary during the three-year period starting on 01 January 2027. The exercise price for each TORM A-share is DKK 167.14, corresponding to the average of 90 calendar days preceding the publication of TORM plc's 2025 Annual Report plus a 15% premium. Vested RSUs may be exercised for a period of 360 days from each vesting date.In addition to the RSUs granted to the Participants, Executive Director Jacob Meldgaard will be granted a total of 255,200 RSUs on similar terms as outlined above.Holders of the RSUs will have no rights as a shareholder with respect to such RSUs until such time as the RSUs vest, are exercised and TORM A-shares are issued. The RSUs include certain adjustment and acceleration provisions, exercise conditions and other terms customary for restricted stock option programs of this nature.The theoretical market value of the RSU allocation is calculated at USD 10.9m based on the Black-Scholes model. The key assumptions for the calculation of the market value are:The strike price is adjusted for future TORM dividends.The volatility of the TORM share is estimated at 40%.The risk-free interest rate based upon expiry of the RSUs is based on Danish government bonds with maturity corresponding to the maturity of the individual RSUs. The interest rate is between 1.78% - 2.01% depending on maturity.A share price of DKK 174.35 per A-share at the time of allocation.The RSU allocation is expected to affect the P&L statement as follows:USDm                              202620272028Total                     Effect                                   6.2 3.3 1.4 10.9 ContactMikael Bo Larsen, Head of Investor Relations
Tel.: +45 5143 8002About TORMTORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For further information, please visit www.torm.com.Safe Harbor Statement as to the FutureMatters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements.The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections.Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of newbuildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries;  effects of new products and new technology in our industry;  new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers.In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.This information was brought to you by Cision http://news.cision.comhttps://news.cision.com/torm-plc/r/torm-plc-long-term-incentive-program,c4313548The following files are available for download:https://mb.cision.com/Main/21247/4313548/3955106.pdf03-2026 TORM plc Long Term Incentive Program



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Original: TORM plc Long Term Incentive Program

TORM plc Annual Report 2025, Dividend Distribution, and Financial Outlook 2026February 26, 2026 3:16 AM
PR Newswire (US)

HELLERUP, Denmark, Feb. 26, 2026 /PRNewswire/ --INSIDE INFORMATION"We ended 2025 on a very strong note, reaffirming the resilience of our business model and our ability to consistently execute," says Jacob Meldgaard, adding: "As we look to 2026, we see a favorable market environment, and TORM is well-positioned to continue delivering value for our shareholders and to set the benchmark for our industry."Financial ResultsTORM (NASDAQ: TRMD) (NASDAQ: TRMD A) performed well in 2025 with the fourth quarter seeing further positive momentum, demonstrating the agility and resilience of our model during a period marked by geopolitical uncertainty. The outcome supports our belief that TORM is well positioned as we move into 2026. Our culture, strategic focus, and integrated platform remain a competitive advantage ensuring we are in the best place to make the most of any opportunities or future disruption.In 2025, TORM generated time charter equivalent earnings (TCE) of USD 910m (2024: USD 1,135m). Adjusted EBITDA for the Group totaled USD 578m including unrealized losses on financial instruments of USD 7m (2024: USD 844m including unrealized gains on financial instruments of USD 7m) and a net profit for the year of USD 286m (2024: USD 612m).Looking back, 2025 was a year in which geopolitics shaped the rhythm of global trade. The introduction of US tariffs and subsequent uncertainty around USTR-related port fees set the tone early in the year. As months passed, Houthi attacks and the unpredictability surrounding Suez Canal transits continued to affect shipping routes and schedules. At the same time, tightened sanctions on Russia, Iran, and Venezuela reshaped energy flows, while a brief but intense conflict between Israel and Iran, alongside stepped-up Ukrainian strikes on Russian infrastructure and shadow tankers, added further tension to an already complex landscape.Against this challenging environment, we kept our focus at TORM on operational excellence and agility. Our scalable platform and disciplined commercial approach enabled us to navigate market fluctuations and strengthen our standing as a dependable, resilient leader in the product tanker industry.In this market, TORM achieved TCE fleet-wide rates of USD/day 28,783 on average (2024: USD/day 36,061), and available earning days increased to 31,840 (2024: 31,287). Our vessel class LR2 achieved TCE rates of USD/day 35,850, the LR1 vessels achieved TCE rates of USD/day 28,262, and the MR vessels achieved TCE rates of USD/day 26,374.Key FiguresUSDmQ4 2025Q4 2024change20252024changeTime charter equivalent earnings (TCE)251.0214.736.3909.71,134.8-225.1EBITDA156.4142.214.2570.8850.8-280.0Adjusted EBITDA*151.5135.016.5577.5844.2-266.7Net profit/(loss) for the period86.877.49.4286.0611.5-325.5Unrealized gains/(losses) on derivatives4.97.2-2.3-6.76.6-13.3TCE per day (USD)*30,65825,7754,88328,78336,061-7,278Basic earnings/(loss) per share (USD)0.870.810.062.916.54-3.64Dividend per share (USD)0.700.600.102.125.10-2.98Dividend pay-out ratio82 %76 %6 %74 %79 %-5 %   *   Excludes unrealized gains/losses on derivatives.For the full-year 2025, Return on Invested Capital was 11.5% (2024: 24.3%), a level that remains solid and satisfactory even as it reflects the expected normalization in freight rates and the corresponding impact on earnings.During the year, the weighted average number of outstanding shares increased to 98.2m shares (2024: 93.6m shares) which combined with the net profit led to basic EPS of USD 2.91 (2024: USD 6.54).In the fourth quarter of 2025, TORM achieved TCE of USD 251m (2024, same period: USD 215m). Adjusted EBITDA amounted to USD 151.5m including unrealized gains on derivatives of USD 5m (2024, same period: USD 135.0m including unrealized gains on derivatives of USD 7m) and a net profit of USD 87m (2024, same period: USD 77m), underscoring the improved market dynamics for the product tanker industry compared to the same quarter last year. In this market, TORM achieved TCE rates of USD/day 30,658 on average (2024, same period: USD/day 25,775), while available earning days were broadly unchanged at 8,032 (2024, same period: 8,054).Vessel TransactionsThroughout 2025, TORM continued its disciplined fleet renewal strategy, balancing the divestment of older tonnage with targeted acquisitions to strengthen fleet quality and efficiency. The fourth quarter stood out as the most active period of the year, with TORM agreeing to acquire eight product tankers, the majority of which were delivered before year-end. These additions further enhanced the fleet profile and underscored our commitment to maintaining a high-quality, competitive fleet. During the same period, TORM also completed the divestment of one older LR2 tanker, with delivery scheduled for early 2026.Over the full year, TORM acquired nine second-hand vessels as part of our ongoing optimization efforts. In addition, we exercised purchase options on 14 leaseback vessels, transitioning them to full ownership and strengthening both operational and financial flexibility.Together, these actions reflect TORM's sustained commitment to maintaining a modern, efficient fleet and to a capital allocation strategy designed to support long-term competitiveness.By the end of December 2025, TORM had 93 owned and leased vessels in the LR2, LR1, and MR vessel classes.Distribution of Dividend for the Fourth Quarter of 2025TORM's Board of Directors has approved an interim dividend for the fourth quarter of USD 0.70 per share to be paid to the shareholders, corresponding to an expected total dividend payment of USD 70.9 m. The distribution for the quarter is equivalent to 82% of net profit and reflects the Distribution Policy. The payment date is 25 March 2026 to all shareholders on record as of 12 March 2026, and the ex-dividend date is 11 March 2026 for the shares listed on Nasdaq OMX Copenhagen and 12 March 2026 for the shares listed on Nasdaq New York.Financial Outlook 2026 (INSIDE INFORMATION)TORM's financial outlook is based on our current product tanker market expectations. We do, however, have limited visibility on TCE rates that are not yet fixed with our customers; hence these rates may be significantly lower or significantly higher than our current expectations.For the full-year 2026, TCE earnings are expected to be in the range of USD 850 - 1,250m (2025: USD 910m), and EBITDA is expected to be in the range of USD 500 - 900m (2025: USD 571m) based on the current fleet size, including published acquisitions and divestment of vessels.As of 17 February 2026, 70% of the Q1 2026 earning days were covered at USD/day 34,926. For the individual vessel classes, the Q1 2026 coverage was 69% at USD/day 44,943 for LR2, 53% at USD/day 46,803 for LR1 and 74% at USD/day 30,411 for MR.Further, as of 17 February 2026, TORM had covered 23% of the 2026 full-year earning days at USD/day 34,462. Hence, 77% of the 2026 full-year earning days are subject to change.Thus as 26,241 earning days in 2026 are unfixed as of 17 February 2026, a change in freight rates of USD/day 1,000 will - all other things being equal - impact the EBITDA by USD 26m.Webcast and Conference CallTORM will host a webcast and conference call for investors and analysts today, Thursday 26 February 2026 at 10:00 a.m. Eastern Time / 04:00 p.m. Central European Time.Webcast link:
Please access the webcast here.Participants joining by telephone:
Please call one of the dial-in numbers (below) at least ten minutes prior to the start (Conference ID: 34069):Denmark: +45 32 74 07 10
United Kingdom: +44 20 3481 4247
United States: +1 (646) 307 1963ContactsMikael Bo Larsen, Head of Investor Relations
Tel.: +45 5143 8002About TORMTORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For further information, please visit www.torm.com.Safe Harbor Statement as to the FutureMatters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements.The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections.Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of newbuildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries;  effects of new products and new technology in our industry;  new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers.In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. This information was brought to you by Cision http://news.cision.comhttps://news.cision.com/torm-plc/r/torm-plc-annual-report-2025--dividend-distribution--and-financial-outlook-2026,c4312687The following files are available for download:https://mb.cision.com/Main/21247/4312687/3953598.pdfTORM Annual Report 2025https://mb.cision.com/Main/21247/4312687/3953599.zip213800VL1H1ABVM1ZF63-2025-12-31-1.ziphttps://mb.cision.com/Public/21247/4312687/9d60ec72a315636b.pdf02 2026 - Annual Report 2025 Announcement 



View original content:https://www.prnewswire.com/news-releases/torm-plc-annual-report-2025-dividend-distribution-and-financial-outlook-2026-302698095.htmlSOURCE Torm PLC

Original: TORM plc Annual Report 2025, Dividend Distribution, and Financial Outlook 2026

Another slow walk back uphill.

The chart looks good for the past few months. Slow recovery for this one.

As isolationism increases in the American markets, I see this U.K. company increasing their global business. Boycotts are a tool used by consumers, and everyone needs the products they deliver, so that should not affect their business model much, but companies that use their services, may have something to say about their customer base.

Nice to see them cut the dividend. I'd prefer $0 dividend if it means the stock jumps.

I assume the sources and routes for the shipment of oil will not change substantially, any time soon. Why has this stock taken such a hit? Revenue is almost equal to market cap.

Looks like this is headed to $0.

It's been very solid. I sold at $38 and will buy again if it drops.

Higher highs. And huge dividends

What are we expecting to see from this stock in the short term?

TRMD up and down

This co pays a 24% div, and also appreciates. I don't understand why it gets so little attention.

$TRMD: This SHIPPER has been rolling....... now 9.50



Niceeeeeeee 2day moves here










GO $TRMD

New position this morning. Heating up

no position here

I think we know who did. Lmfao you in at $30?

I have 1000 shares 8.80 avg. very little downside what so ever.

Agreed great entry rebound level

Getting ready for a nice pop.

Greeves arrives and TIMBRRRRR.

No $11.00

watching lol for the entry,did you bought at $20++

1.16 diference,gonna be soon 5.00 pps

and Q4 2019 Torm PLC Earnings Release - Actual: $1.98

Q1 2020 Torm PLC Earnings Release - Estimate: $0.83

TRMD~~05/18/20
Q1 2020 Torm PLC Earnings Release - Estimate: $0.83

TRMD~~Q4 2019 Torm PLC Earnings Release - Actual: $1.98

Interesting stuff here to say the least

1.7 billion dollars in vessel assets alone, plus the global glut in oil, there is a lot shortages in oil storage, so they will using their tanker for storage, this is a no brainer. There revenues are astounding to say the least.

https://www.fool.com/earnings/call-transcripts/2020/03/11/torm-plc-trmd-q4-2019-earnings-call-transcript.aspx

I think if news comes in about the Government contract or some how leaks to traders it will trade in the 30's again tomorrow, other than that this is solid company that has been around for over 130 years. Those market makers knew the story, thus the spike.

That’s odd... what do u make of this tomorrow then

So this is what I found, there was a short on earlier today that has changed his sentiments and said there was a Government contract for half their fleets.

I agree I’m still trying to put the pieces together and I feel like we’re all missing 1 huge piece for this to make any sense whatsoever

There is no justified reason with the float being as high as 20 million tradable float for this to move into the high 40 dollars range, not even short covering would have warranted this kind of move, so either market makers know the company either sold sold some assets or all assets, they are usually the ones that kind of information from the insiders.

I know definitely did trade that way tho

But the float has shows over 20 million, this is very odd to say least. I can point what could be the cause. Definitely weird. There could also be news pending and market makers usually know this through the insiders.

Tried getting 10s early this morning and it was halted and bid jumped to 15.30 like u said one of the oddest stocks I’ve seen during one trading day... float seems like next to nothing

On fairly low volume hmmm

They will not be able to halt this after hours or premarket. One of the weirdest trading action I have seen thus far this year.

Look at my follow up poast ;)

Very nice
lol

This has to be either pending news or they will open it back up tomorrow..

The company been around since 1889. This is either a short squeeze or something else driving the price up.


http://www.torm.com

Yeah strange... not good imo