Awilco LNG

Quarterly Report • Aug 27, 2021

ALNG - Q2 2021 Report

ALNG - Q2 2021 Report

The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today reports unaudited results for the three months ended June 30, 2021.

HIGHLIGHTS 1)

• Awilco LNG achieved net result for the period of USD 3.3 million, equivalent to an earnings per share of USD 0.02. For first half 2021 net result ended at USD 10.2 million or USD 0.08 per share.

• Net TCE for second quarter and first half year ended at USD 66,500 per day and USD 78,000 per day respectively.

• Net freight income was USD 12.1 million in Q2 2021, down from USD 16.2 million in Q1 2021. For first half 2021 net freight income ended at USD 28.3 million, up from 17.1 million for the same period last year.

• EBITDA for the quarter ended at USD 9.0 million, compared with USD 12.7 million in Q1 2021. For first half 2021 EBITDA ended at USD 21.7 million, up from USD 11.3 million for the same period last year

• Vessel utilisation in Q2 2021 of 100%, same as in Q1 2021.

• In April WilForce was fixed on a 12 months contract and in June WilPride was fixed on a 10 months contract, both at rates that secure significant positive cash generation over the periods.

Jon Skule Storheill, Chief Executive Officer, commented:

“We are pleased to deliver another strong result in second quarter 2021 bringing first half year result to USD 10.2 million and an average net TCE for the period of USD 78,000 per day. With both vessels chartered out on fixed rate contracts at an average rate of just below USD 80.000 per day through Q1 2022 I am pleased to report that we expect to deliver a strong result also in the second half of the year. Focus going forward will be to take advantage of the long-term strength in the LNG market.”

Enclosed is in addition a Q2 2021 presentation. Due to the ongoing Covid-19 pandemic and guidelines from the Norwegian government concerning social distancing no physical presentation will be held covering second quarter and first half 2021.

Note on Alternative performance measures: Alternative performance measures are defined and explained in the APM section of the Quarterly report.

Oslo, August 27, 2021

For further information please contact:

CEO Jon Skule Storheill

Phone: +47 913 44 356

Email: jss@awilcolng.no

CFO Per Heiberg

Phone: +47 952 20 264

Email: ph@awilcolng.no

About Awilco LNG ASA

Awilco LNG is a Norwegian based LNG transportation provider, owning and operating LNG vessels intended for international trade. The Company currently owns two 2013 built 156,000 cbm TFDE membrane LNG vessels, WilForce and WilPride.