Awilco LNG

Report Publication Announcement • May 5, 2020

ALNG – Q1 2020 report and presentation

ALNG – Q1 2020 report and presentation

The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today reports unaudited results for the three months ended 31 March 2020.

Highlights for Q1 2020 (Q4 2019):

- Net freight income MUSD 12.9 (MUSD 16.3)

- EBITDA MUSD 9.9 (MUSD 13.0)

- Net profit MUSD 2.7 (MUSD 4.7)

The Group delivered Time Charter Equivalent (“TCE”) earnings of USD 70,800 pd per vessel in Q1 2020 (USD 88,200 pd per vessel in Q4 2019). The quarter also saw the refinancing of both vessels at improved terms, with substantial savings expected on finance costs going forward.

Enclosed is also a Q1 2020 presentation. Due to the ongoing Covid-19 pandemic and guidelines from the Norwegian government concerning social distancing no physical presentation will be held covering Q1 2020.

Oslo, 5 May 2020

For further information please contact:

CEO Jon Skule Storheill

Phone: +47 913 44 356

Email: jss@awilcolng.no

CFO Øyvind Ryssdal

Phone: +47 920 14 029

Email: or@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.