Wallenius Wilhelmsen ("WAWI") and HMG have based on the terms of the Ocean
Carrier Contract (OCC) between EUKOR and HMG, agreed that the put and call
options linked to HMG's 20% ownership in EUKOR cannot be exercised during the
duration of the OCC as long as the OCC includes a volume commitment of at least
50% of HMG's volumes. The current OCC runs until 31 December 2029. 

This agreement impacts the accounting treatment of the related liability. At
year-end 2025, WAWI recognized a USD 897 million liability, which reflected the
estimated exercise price of the put option, based on a stipulated methodology in
local legislation in Korea. For details, please see note 17 in the 2025 Annual
report.  

From Q2 2026, due to the agreement reached with HMG, the liability will be
calculated and recognized based on the net present value of the estimated future
exercise price (at earliest exercisable date). Consequently, the liability will
be reduced and reclassified from current to non-current liability. Further
details on the financial implications will be shared in the company's Q1 2026
report. 


For further information, please contact: 
Anders Redigh Karlsen, VP Global IR & Market Insight
Tel: +47 994 20 293