Avance Gas Holding Ltd: Appointment of Øystein Kalleklev as CEO of Avance Gas

24 Apr 2023 08:30 CEST

Hamilton, Bermuda. April 24, 2023

The Board of Avance Gas Holding Ltd (the "Company" or "Avance Gas") (OSE: AGAS)
has today appointed Executive Chairman Øystein Kalleklev as Chief Executive
Officer (CEO) of Avance Gas.

As a result, Mr. Kalleklev will step down as Executive Chairman of the Company
and rather participate as regular Board member going forward. Mr. Kalleklev is
nominated as ordinary Board member of Avance Gas at the Annual General Meeting
to be held in Bermuda on May 8, 2023. The Board has discretion to appoint
Chairman of the Board as it sees fit.

The management of Avance Gas will thus consist of Øystein Kalleklev as CEO,
Randi Navdal Bekkelund as CFO and Marius Foss as CCO. The change in roles will
have no effect for Flex LNG Ltd (NYSE/OSE: FLNG) where Mr. Kalleklev will also
continue to serve as CEO.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

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