Avance Gas Holding Ltd

Fourth Quarter 2023 Earnings Release - Seite 3

Taking into account the cash release from asset sales and refinancing, our pro-forma cash balance is about $362 million or close to 40% of the Company’s Market Capitalization. Hence, as previously communicated, the Company plan to seek Annual General Meeting authorization to reduce paid-in capital in relation to sale of dual fuel VLGC newbuildings to return part of this cash position to our shareholders in a tax efficient manner. Until this have been completed, the Board has decided to declare a quarterly dividend per share of $0.65 bringing the dividend per share for the full year to $2.15 of approximately 101% of earnings per share. This translate into a current dividend yield of about 18% which we think should make it attractive being invested in Avance Gas.”

PRESENTATION AND WEBCAST

Avance Gas will host an audio webcast and conference call to discuss the company’s results for the period ended 31 December 2023 on Wednesday, 14 February 2024, at 14:00 CET. There will be a Q&A session following the presentation.

The presentation and webcast will be hosted by:

• Mr. Øystein Kalleklev - CEO
• Mrs. Randi Navdal Bekkelund - CFO

The presentation will also be available via audio webcast, which can be accessed at Avance Gas’ website www.avancegas.com or using the link: https://edge.media-server.com/mmc/p/qn6w57nr

Guests can log into the conference call using the following link https://register.vevent.com/register/BIe8c6eceb67ed456c9c903090331769f5

For further queries, please contact:

Øystein Kalleklev, CEO
Tel: [phone]

Randi Navdal Bekkelund, CFO
Tel: [phone]

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 carriers (VLGCs) and owns nineteen LPG ships
consisting of thirteen VLGCs on water including one vessel held for sale in Q1 2024, four dual fuel MGCs for delivery in 2025 and 2026 as well as two dual fuel newbuilding VLGCs for sale in Q1 2024. For more information about Avance Gas, please visit www.avancegas.com.

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

Attachments

• Avance Gas - Q4 2023 Presentation
• Avance Gas - Q4 2023 Interim financial information