Awilco LNG

Legal Proceedings Report • Dec 19, 2023

Awilco LNG ASA – Settlement of collision claim

Awilco LNG ASA – Settlement of collision claim

Reference is made to the Quarterly report for the third quarter 2023, earlier Quarterly and Annual Reports, and stock exchange releases since June 2019 where our vessel WilForce was struck by another vessel in the Singapore straits. Awilco LNG ASA (the Company) is pleased to announce a full and final settlement agreement between owners and insurance companies on both sides.

According to the settlement agreement the Company will receive approximately USD 4.9 million as full and final compensation for cost and lost time following the collision. As no effects of this claim have been reflected in Awilco LNG’s financial statements the compensation received will be booked as income in the fourth quarter of 2023.

For further information please contact:

Jon Skule Storheill

Chief Executive Officer

Mobile: +47 91 34 43 56

Per Heiberg

Chief Financial Officer

Mobile: +47 952 20 264