BW LPG Limited - BW LPG takes delivery of vessel BW Passat from Avance Gas

22 Nov 2024 13:10 CET

Singapore, 22 November 2024

With reference to the stock exchange announcement on 15 August 2024 for the
acquisition of 12 modern Very Large Gas Carriers (VLGCs) from Avance Gas
Holdings Ltd (“Avance Gas”, OSE ticker code: “AGAS”), BW LPG Limited (“BW LPG”
or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code “BWLP”) has
taken delivery of vessel BW Passat on 22 November 2024. Four of the 12 VLGCs are
now delivered.

BW LPG has today issued 1,350,000 new BW LPG shares to Avance Gas as
part-consideration for the above vessel. Following the issuance of the new
shares, the total number of issued shares of BW LPG is 146,150,000, representing
a total share capital in the amount of USD 393,340,048. The new shares have been
legally and validly issued and are fully paid.

Following the above issuance, Avance Gas holds 6,150,000 shares in BW LPG,
representing approximately 4.21% shareholding.


For further information, please contact:

Kristian Sørensen, CEO, BW LPG
Samantha Xu, CFO, BW LPG
E-mail: investor.relations@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, an
in-house LPG trading division and a growing presence in LPG terminal
infrastructure and distribution, BW LPG offers an integrated, flexible, and
reliable service to customers along the LPG value chain. More information about
BW LPG can be found at https://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 450 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.

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