Avance Gas Holding Ltd - Key information regarding potential subsequent offering

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES"), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Hamilton, Bermuda, 8 April 2021. Reference is made to the stock exchange notice from Avance Gas Holding Ltd ("Avance Gas" or the "Company", OSE ticker code "AGAS") published earlier today on 8 April 2021 regarding completion of a private placement (the "Private Placement") raising gross proceeds to the Company in the amount of approximately NOK 555 million and that the board of directors of the Company has proposed a subsequent offering of up to 644,950 new shares (the "Subsequent Offering") with non-tradeable subscription rights to eligible shareholders.

Date for announcement of terms: 8 April 2021

Last day including right to receive subscription rights: 8 April 2021

First day excluding right to receive subscription rights: 9 April 2021

Record Date: 12 April 2021

Maximum number of new shares: Up to 644,950

Subscription price: NOK 43

Shall the rights be listed: No.

The Subsequent Offering is conditional on the approval and publication of a prospectus approved by the Financial Supervisory Authority of Norway.

Notwithstanding the foregoing, the board of directors may, in its sole discretion, decide that the Company shall not carry out the Subsequent Offering inter alia if the prevailing market price of the Company's shares trade lower than the Subscription Price, thereby making a repair offering redundant.

For further queries, please contact:
Randi Navdal Bekkelud, CFO
Tel: [phone]
Email: [e-mail]

Kristian Sørensen, CEO
Tel: [phone]
Email: [e-mail]

About Avance Gas

Avance Gas operates in the global market for transportation of liquefied petroleum gas (LPG). The Company is one of the world's leading owners and operators of very large gas carrier (VLGC) and operates a fleet of thirteen modern ships and four Dual Fuel LPG newbuildings due for delivery in Q4 2021, Q1 2022, Q4 2022 and Q1 2023. For more information about Avance Gas, please visit: www.avancegas.com (http://www.avancegas.com).