International Seaways amends poison pill; raises trigger to 20%, extends to 2026

International Seaways, Inc.

Amended and restated Rights Agreement increases Acquiring Person threshold from 17.5% to 20%.
Final Expiration Date extended from May 7, 2023 to April 10, 2026.
Purchase Price per Right increased from $25 to $50.
Added qualifying offer provision with shareholder redemption feature for tender offers open 90+ business days.
Original rights plan adopted May 2022 after competitor Famatown disclosed 16.19% stake.

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