BW LPG Management Share Option Plan “LTIP 2022” – Award of Share Options

The Board of Directors of BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”) has approved the award of share options to senior management and certain employees of the Company.

This is the second annual award of share options under the five-year long-term management share option plan (“LTIP 2022”) which was launched on 1 Mar 2022. LTIP 2022 is aimed at aligning the interests of senior management and key employees of the Company with those of the shareholders. Details of the plan can be found in the following link:

The total number of options that will be awarded in 2023 is 752,282. The options are awarded in connection with the publication of the quarterly report for Q4 2022.

The following primary insiders of the Company have been awarded options under LTIP 2022, as further described in the attached forms. The total number of shares (if any) held by these primary insiders as set out below include deferred shares (options) under the LTIP 2017 (please see the Company’s stock exchange announcement of 21 April 2017 –

Anders Onarheim, Chief Executive Officer

Options granted in prior years: 639,125

Options granted in 2023: 200,000

Total options held: 839,125

Shares held: 50,000

Kristian Sorensen, Deputy Chief Executive Officer and Head of Strategy

Options granted in 2023: 120,647

Total options held: 120,647

Shares held: 0

Elaine Ong, Chief Financial Officer

Options granted in prior years: 255,564

Options granted in 2023: 85,164

Total options held: 340,728

Shares held: 0

Niels Rigault, Executive Vice President, Commercial

Options granted in prior years: 347,847

Options granted in 2023: 120,647

Total options held: 468,494

Shares held: 0

For further information, please contact:

Elaine Ong, CPA, CA

Chief Financial Officer

Tel: +65 6705 5506

E-mail: [email protected]

Iver Baatvik

Head of Corporate Development and Investor Relations

Tel: +65 6705 5519

E-mail: [email protected]

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. More information about BW LPG can be found at

BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 490 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse Regulation.