ANTWERP, Belgium, 9 July 2020 – Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) announces that the Company has purchased on the NYSE and on Euronext Brussels a total of 3,379,108 of its own shares for an aggregate price of EUR 25,107,476 (USD 28,086,438) as part of its capital allocation strategy and returns to shareholder policy.

Following these transactions, the Company now owns 8,325,324 shares (3.78% of the total outstanding share count). Further detail on these transactions are as follows:

The Company will monitor market conditions to decide whether to continue buying back shares in accordance with industry best practices, taking into account a variety of factors, including regulatory or legal requirements and other corporate considerations.

To this end, Euronav has mandated Clarksons Securities to act as an independent broker to coordinate and execute share repurchases on the exchanges of Euronext Brussels and/or the NYSE.

This share buyback reflects the strength of Euronav’s balance sheet and the confidence of the Supervisory Board and the Management Board in the long term value in the Company’s shares.

It is important to stress that this return to shareholders is from net income generated from our capital base and does not impact the Company’s strong liquidity which will be augmented by the 20% of net income that is retained. At the end of Q2 2020, Euronav’s liquidity position will be approximately USD 1.09 billion before any returns to shareholders are taken into account.

Matters discussed in this press 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 include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are 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. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.

Contact:

Brian Gallagher – Head of IR, Research and Communications & Management Board member