Awilco LNG

Major Shareholding Notification • Jan 28, 2022

ALNG - Investment

ALNG - Investment

PRESS RELEASE: NO. 1/2022

Awilco LNG ASA (OSE: “ALNG”) (“Awilco LNG” or “the Company”) is pleased to announce that the Company has invested in Cool Company Ltd (“CoolCo”) through their recently announced private placement and been allocated 700.000 shares at total value of USD 7 million. Awilco LNG support consolidation of the LNG market and look forward to continuing working with CoolCo. The Board of Awilco LNG remains committed to the statement made in the third quarter 2021 report to return capital to shareholders and intend to propose a dividend in line with the size of the investment in CoolCo to the Annual General Meeting scheduled in May 2022.

Oslo, January 28, 2022

For further information please contact:

Jon Skule Storheill

Chief Executive Officer

Mobile: (47) 913 44 356

Per Heiberg

Chief Financial Officer

Mobile: (47) 952 20 264