Bruton Limited — Capital/Financing Update 2026

Feb 2, 2026

Bruton Limited (BRUT) Potential Vessel Options, Listing and Launch of a Private Placement

Bruton Limited (BRUT) Potential Vessel Options, Listing and Launch of a Private Placement

Hamilton, Bermuda, 2 February 2026

Bruton Limited (the "Company") refers to its press release on 30 January 2026

regarding the exercising of its option for additional two VLCC vessels.

Following this, the Company is also discussing an additional option for the

order of two further VLCC newbuilds with New Times. If exercised, these

options will bring the Company's newbuilding program to a total of ten VLCC

vessels. Furthermore, the Company has initiated a process to prepare for a

listing on one of Euronext s regulated markets in Norway during the first half

of 2026.

As a consequence of the additional vessel orders announced on 30 January 2026,

the Company hereby announces that it is launching a private placement (the

"Private Placement") of up to USD 50 million in new Norwegian Depository

Receipts ("NDRs") representing new underlying common shares on a one-to-one

basis (the "Private Placement Shares").

The subscription price per Private Placement Share (the "Offer Price"), will

be USD 5.25. The final number and allocation of the Private Placement Shares

will be set in accordance with directions from the Company's board of

directors (the "Board") based on an accelerated bookbuilding process conducted

by the Managers (as defined below).

The underlying common shares represented by the new NDRs will be in the same

class as the existing underlying common shares in the Company represented by

existing NDRs, and will have par value of USD 0.10. Upon the issuance of the

Private Placement Shares, they will be recorded in Euronext Securities Oslo

("Euronext VPS") as NDRs and delivered to the subscribers in the Private

Placement.

The proceeds from the Private Placement will be used to pay instalments under

the Company's newbuilding program, and well as for general working capital

purposes.

The bookbuilding period in the Private Placement (the "Bookbuilding Period")

commences today at 16.30 (CET) and closes on 3 February 2026 at 08:00 hours

(CET). The Company may, in its own discretion, extend or shorten the

Bookbuilding Period at any time and for any reason. If the Bookbuilding Period

is extended or shortened, any other dates referred to herein may be amended

accordingly.

The Company has received pre-commitments for a total of USD 25 million of

Private Placement Shares from Drew Holdings Ltd. and Koch Shipping Pte. Ltd.

The Private Placement will be directed towards Norwegian and international

investors subject to and in compliance with applicable exemptions from

relevant registration, filing and prospectus requirements, and subject to

other applicable selling restrictions. The minimum application and allocation

amount in the Private Placement has been set to the USD amount equivalent to

EUR 100,000. The Company may, however, at its sole discretion, allocate an

amount below EUR 100,000 to the extent applicable exemptions from the

prospectus requirement pursuant to applicable regulations, including

Regulation (EU) 2017/1129 (the "EU Prospectus Regulation") and ancillary

regulations, are available.

The conditional allocation of Private Placement Shares will be determined by

the Board at its sole discretion, in consultation with the Managers following

the expiry of the Bookbuilding Period. Based on expected demand from existing

shareholders, non-shareholders should expect little or no allocation. Delivery

of the Private Placement Shares allocated in the Private Placement is expected

to be settled by delivery versus payment ("DVP"), expected on or about 5

February 2026. The Private Placement Shares are expected to be pre-paid by the

Managers, pursuant to a pre-payment arrangement, to facilitate prompt issue of

the Private Placement Shares.

The completion of the Private Placement is subject to customary conditions.

The Company and the Managers reserve the right, at any time and for any

reason, to cancel and/or modify the terms of the Private Placement without

notice. Neither the Managers nor the Company will be liable for any losses

incurred by applicants if the Private Placement is cancelled or modified,

irrespective of the reason for such cancellation or modification.

The Board has carefully considered the structure of the equity raise in light

of the equal treatment considerations under Bermuda law. The Board is of the

view that it will be in the common interest of the Company and its

shareholders to raise equity through a private placement, in particular

because the Private Placement enables the Company to secure equity financing

to accommodate the Company's funding requirements. Further, a private

placement will reduce execution and completion risk, as it enables the Company

to raise equity efficiently and in a timely manner, with a lower discount to

the current trading price, at a lower cost and with a significantly reduced

completion risk compared to a rights issue. It has also been taken into

consideration that the Private Placement is based on a publicly announced

accelerated bookbuilding process.

Clarksons Securities AS is acting as Global Coordinator and Joint Bookrunner

and Arctic Securities AS, DNB Carnegie, a part of DNB Bank ASA, Fearnley

Securities AS and Pareto Securities AS are acting as Joint Bookrunners in

connection with the Private Placement (the "Managers"). Ro Sommernes

advokatfirma AS is acting as legal advisor to the Company in connection with

the Private Placement.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and subject to the disclosure requirements pursuant to

section 5-12 of the Norwegian Securities Trading Act. This stock exchange

notice was published by Alfi Lao, Contracted Chief Accounting Officer, on the

date and time as set out in the release.