Hamilton, Bermuda

May 7, 2024

Avance Gas Holding Ltd ("Avance Gas" or the "Company") (OSE: AGAS) today announce that it has extended the variable Time Charter for the VLGC Chinook (built 2015) expiring July 2024 by one year with an energy major. The new Time Charter period thus aligning with the drydocking window for the ship expected to take place mid-2025.

For further queries, please contact:

Media contact:
?ystein Kalleklev, CEO,
Tel: +47 23 11 40 00

Investor and Analyst contact:
Randi Navdal Bekkelund, CFO,
Tel: +47 23 11 40 00

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 sixteen LPG VLGC ships consisting of twelve modern VLGCs including four dual fuel LPG VLGCs and four dual fuel MGCs capable of carrying full ammonia cargo for delivery in 2025 and 2026.

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