Euronav : successfully raises 125 million USD

NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA.

ANTWERP, Belgium, 9 July 2014 - EURONAV announces that it has raised 125 million USD in total in gross cash proceeds through a private placement of 10,556,808 new shares to institutional investors selected through an accelerated book build offering. Following strong demand, Euronav decided to upsize the initial offering from 100 million USD to 125 million USD.
All of the newly issued shares were placed at a price of 8.70 EUR per share (or 11.84 USD at the current EUR/USD exchange rate of 1.3610), at a 3% discount to the previous day's closing price. The new shares represent 8.05% of the new total number of outstanding shares.
Petercam NV, acting as Settlement Agent, and one core shareholder entered into a share swap agreement in order to deliver listed shares to all investors who receive allocated shares in the private placement. As part of this share swap agreement the core shareholder will deliver up to 10,000,000 existing and listed shares to the Settlement Agent. The core shareholder will receive in exchange the same number of newly issued non-listed shares. The listing on Euronext Brussels of all other newly issued shares (not subject to the aforementioned share swap agreement) will be requested immediately after their issue. The shares that the core shareholder will receive as a result of the share swap will be listed upon approval of a listing prospectus by the FSMA on a later date.
The funds raised will be used by EURONAV to partially finance its purchase of 4 VLCC
vessels as announced on 8 July 2014.
Settlement will take place on 14 July 2014.
Petercam NV is acting as Global Coordinator and Settlement Agent and together with Deutsche Bank AG, London Branch, and DNB ASA as Joint Book Runners for the placing of the new shares. The Book Runners were advised by Linklaters LLP and Argo Law advised Euronav on the Belgian legal aspects of the offering.
The company is still of the view that a more balanced tonnage list coupled with increased ton-miles should help to further improve the state of the tanker market for the rest of 2014 and 2015. In this regard the company does not intend to place speculative newbuilding orders, but continues to see value in the second-hand market.

NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA.

*

* *

Contact:

Mr. Hugo De Stoop - CFO

Announcement final half year results 2014: Wednesday, 27 August 2014

Euronav is one of the world's leading independent tanker companies engaged in the ocean transportation and storage of crude oil. The Company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on NYSE Euronext Brussels under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav's owned and operated fleet consists of 49 double hulled vessels being 1 V- Plus, 2 FSO vessels (both owned in 50%-50% joint venture), 23 VLCCs of which 1 in joint venture and 23

Suezmaxes (of which 4 in joint venture). Deliveries of the remaining Maersk Tanker VLCCs will increase the Company's tanker fleet by another 4 VLCCs. The Company's vessels mainly fly Belgian, Greek, French and Marshall Island flags. More detailed information can be found on the Company's website: www.euronav.com.

Regulated information within the meaning of the Royal Decree of 14 November 2007.

This announcement is for general information only and does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This communication must not be published, released or distributed, directly or indirectly, in the United States, Canada, Japan, Australia, South Africa or any other jurisdiction where to do so would be prohibited by applicable law. These materials do not constitute an offer of or solicitation to purchase securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the United States Securities Act of 1933 (the "Securities Act"). The shares mentioned herein have not been, and will not be, registered under the Securities Act. There will be no public offer of the shares in the United States.
This communication is for distribution in member states of the European Economic Area only to persons falling within the meaning of Article 2(1)(e) of the 2003/71/CE directive as amended by Directive 2010/73/EU (the "Prospectus Directive"), and, where applicable, in accordance with Article 3(2) of the Prospectus Directive. In the United Kingdom, this document is being distributed only to, and is directed only at, investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or who are high net worth entities falling within Article 49(2)(a) to (d) of the Order, and other persons to whom they may otherwise lawfully be communicated.
The release, publication or distribution of this communication in certain jurisdictions may be restricted by laws or regulations. Therefore, persons in such jurisdictions into which these materials are released, published or distributed must inform themselves about and comply with such laws or regulations.

distributed by