Avance Gas Holding Ltd – Completion of share capital increase

Hamilton, Bermuda, 13 April 2021. Reference is made to the stock exchange notice from Avance Gas Holding Ltd (the "Company", OSE ticker code "AGAS") on 8 April 2021 regarding completion of the NOK 555 million private placement (the "Private Placement").

The Private Placement included the allocation of 12,899,000 common shares of the Company, which were settled on a delivery versus payment basis earlier today, on 13 April 2021, facilitated by existing and unencumbered shares of the Company being borrowed by the Company's largest shareholder, Hemen Holding Limited ("Hemen"), to DNB Markets, a part of DNB Bank ASA ("DNB Markets"), pursuant to a share lending agreement entered into between Hemen, the Company and DNB Markets.

The Company has today completed the issue of the 12,899,000 common shares pursuant to the board resolution made on 8 April 2021, which will be used to settle the share loan.

Following the issue of the Private Placement shares, the Company has a total outstanding share capital of 77,426,972 common shares, each with a par value of USD 1.00.

For further queries, please contact:

Randi Navdal Bekkelud, CFO

Tel: 47 22 00 48 29

Email:

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: ().

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