BW LPG Management Share Option Plan “LTIP 2022” – Award of Share Options

28 Feb 2023 06:09 CET

(Singapore, 28 February 2023)

The Board of Directors of BW LPG Limited ("BW LPG", the "Company", OSE ticker
code: "BWLPG.OL") has approved the award of share options to senior management
and certain employees of the Company.

This is the second annual award of share options under the five-year long-term
management share option plan (“LTIP 2022”) which was launched on 1 Mar 2022.
LTIP 2022 is aimed at aligning the interests of senior management and key
employees of the Company with those of the shareholders. Details of the plan can
be found in the following link:
https://www.bwlpg.com/media/press-release/bw-lpg-management-share-option-plan-lt
ip-2022-award-of-share-options/

The total number of options that will be awarded in 2023 is 752,282. The options
are awarded in connection with the publication of the quarterly report for Q4
2022.

The following primary insiders of the Company have been awarded options under
LTIP 2022, as further described in the attached forms. The total number of
shares (if any) held by these primary insiders as set out below include deferred
shares (options) under the LTIP 2017 (please see the Company's stock exchange
announcement of 21 April 2017 -
https://www.bwlpg.com/media/press-release/management-share-option-plan-mandatory
-notification/ ):

Anders Onarheim, Chief Executive Officer
Options granted in prior years: 639,125
Options granted in 2023: 200,000
Total options held: 839,125
Shares held: 50,000

Kristian Sorensen, Deputy Chief Executive Officer and Head of Strategy
Options granted in 2023: 120,647
Total options held: 120,647
Shares held: 0

Elaine Ong, Chief Financial Officer
Options granted in prior years: 255,564
Options granted in 2023: 85,164
Total options held: 340,728
Shares held: 0

Niels Rigault, Executive Vice President, Commercial
Options granted in prior years: 347,847
Options granted in 2023: 120,647
Total options held: 468,494
Shares held: 0


For further information, please contact:

Elaine Ong, CPA, CA
Chief Financial Officer
Tel: +65 6705 5506
E-mail: elaine.ong@bwlpg.com

Iver Baatvik
Head of Corporate Development and Investor Relations
Tel: +65 6705 5519
E-mail: iver.baatvik@bwlpg.com

About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, owning and
operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over
3 million CBM. With five decades of operating experience in LPG shipping and
experienced seafarers and staff, BW LPG offers a flexible and reliable service
to customers. More information about BW LPG can be found at www.bwlpg.com.

BW LPG is associated with BW Group, a leading global maritime company involved
in shipping, floating infrastructure, deepwater oil & gas production, and new
sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of
over 490 vessels transporting oil, gas and dry commodities, with its 200 LNG and
LPG ships constituting the largest gas fleet in the world. In the renewables
space, the group has investments in solar, wind, batteries, biofuels and water
treatment.

This information is subject to disclosure requirements pursuant to Section 5-12
of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse
Regulation.

More information:
Access the news on Oslo Bors NewsWeb site

583719_Attachment l Granting of options.pdf