Upon completion of a legal merger or as soon as Frontline holds 75% or more of Euronav's outstanding shares (excluding treasury shares held by Euronav), three of the current independent directors of Euronav will be appointed to the combined group's board. Up to two non-independent directors will be nominated by Frontline's largest shareholder Hemen Holding Ltd. ("Hemen"), and two new independent directors will be identified by Euronav and Hemen jointly, including the Chair of the board of the combined group. Frontline CEO, Mr. Lars H. Barstad, will join the Board of the combined group as a representative of Hemen Holding Ltd.