The Acquisition is fully funded by the sale of Frontline's 13.7 million shares in Euronav to CMB, generating proceeds of $252 million, cash on hand, drawdown under the existing $275 million senior unsecured revolving credit facility provided by an entity related to Hemen Holding Ltd., Frontline's largest shareholder (the credit facility has been extended by 20 months to January 4, 2026, at an interest rate of 10.0% and otherwise on existing terms), and a new 5-year senior secured term loan facility in an amount of $1,410 million provided by a selection of leading lending banks. Lastly, Hemen, has offered Frontline a subordinated unsecured shareholder loan of up to $540 million on similar terms as the bank loan. This may not be fully drawn as the Company is exploring other alternatives to free up capital including re-leveraging part of the existing Frontline fleet on attractive terms and/or sale of non-core assets.