Mandatory notification of trade by primary insiders

21 May 2024 18:59 CEST

Hamilton, Bermuda
May 21, 2024

Randi Navdal Bekkelund, CFO of Avance Gas, has today exercised 106,500 share
options. The original strike price was NOK 64.94 per share but have been
adjusted to NOK 28.11 (the “Adjusted Strike Price”) due to NOK 36.83 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 May 21, 2024. Following the exercise, Ms. Navdal Bekkelund holds no
share options in the Company.

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

619285_Disclosure of transaction by PDMR - 21.05.2024.pdf