BW LPG Limited - Update on BW LPG’s Product Services Q1 2025 Segment Performance

16 Apr 2025 07:01 CEST

Singapore, 16 April 2025

BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE
ticker code: “BWLP”) today provides an update on its Product Services’ (“BW
Product Services”) Q1 2025 segment performance.

For the quarter ended 31 March 2025, BW Product Services achieved a realised
gain of USD 33 million from our cargo and freight operations. After accounting
for the unrealised mark-to-market change of negative USD 36 million from our
open cargo contracts and hedging transactions, we ended the quarter with a gross
trading result of approximately minus USD 3 million.

After general and administrative expenses and income taxes, BW Product Services
reported an estimated result of approximately minus USD 12 million for the
quarter.

The average Value-At-Risk (VAR) for the quarter was approximately USD 5 million.

BW LPG will release its Q1 2025 financial report on 20 May 2025.

Says Kristian Sørensen, Chief Executive Officer, “We are pleased to report a
continued strong realisation of USD 33 million from our cargo deliveries and
trades in the first quarter of 2025. We focus on delivering a positive realised
trading result which is the ultimate driver for BW Product Services' dividend
capacity, although some volatility should be anticipated as we charter through
these unprecedented markets.”


For further information, please contact:

Kristian Sørensen
Chief Executive Officer

Samantha Xu
Chief Financial Officer

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 a fleet of more than 50 Very Large Gas Carriers (VLGCs) with a total
carrying capacity of over 4 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. Delivering energy for a better world - 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, and water treatment.

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