Avance Gas Holding Ltd - Mandatory notification of trade by PDMR

04 Oct 2024 18:47 CEST

Hamilton, Bermuda
October 4, 2024

Øystein Kalleklev, CEO of Avance Gas, has today exercised 131,250 share options.
The original strike price was NOK 52.50 per share but have been adjusted to
negative NOK 17.69 (the “Adjusted Strike Price”) due to NOK 70.19 dividend paid
per share since the options were granted. The stock options have been cash
settled with the difference of the Adjusted Strike Price and the closing price
at OSE on October 4, 2024. Following the exercise, Mr. Kalleklev holds 50,000
shares in Avance Gas Holdings Ltd as well as 150,000 stock options vesting in
August 2025 with an average original strike price of NOK 52.50. The strike price
under these stock options is also adjusted for dividend payments.

Please see the attached forms for notification and public disclosure of
transaction.

For further information, please contact:

Investor and Analyst Contact:
Randi Navdal Bekkelund, Chief Financial Officer of Avance Gas
Tel: +47 23 11 40 00

Media Contact:
Øystein Kalleklev, Chief Executive Officer of Avance Gas
Tel: +47 23 11 40 00

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

More information:
Access the news on Oslo Bors NewsWeb site

629078_Disclosure of transaction by PDMR - 04.10.2024.docx.pdf