Hamilton, Bermuda
September 1, 2023

Øystein Kalleklev, CEO of Avance Gas, has today exercised 93,750 share options.
The original strike price was NOK 52.50 per share but have been adjusted to NOK
37.45 (the "Adjusted Strike Price") due to NOK 15.05 dividend paid per share
since the options were granted. The stock options have been cash settled with
the difference of the Adjusted Strike Price and the closing price at OSE on
September 1, 2023. Following the exercise, Mr. Kalleklev holds 50,000 shares in
Avance Gas Holdings Ltd as well as 281,250 stock options vesting over the period
to August 2025 with an average original strike price of NOK 52.50. The strike
price under these stock options is also adjusted for dividend payments.

Randi Navdal Bekkelund, CFO of Avance Gas, has today exercised 53,250 share
options. The original strike price was NOK 54.94 per share but have been
adjusted to NOK 35.75 (the "Adjusted Strike Price") due to NOK 19.19 dividend
paid per share since the options were granted. The stock options have been cash
settled with the difference of the Adjusted Strike Price and the closing price
at OSE on September 1, 2023. Following the exercise, Ms. Navdal Bekkelund holds
106,500 share options in the Company vesting over the period to May 2024 with an
original strike price of NOK 64.94. The strike price under these stock options
is also adjusted for dividend payments.

Please see the attached forms for notification and public disclosure of
transaction. 

For further information, please contact: 

Investor and Analyst Contact:
Randi Navdal Bekkelund, Chief Financial Officer of Avance Gas 
Tel: +47 23 11 40 00

Media Contact:
Øystein Kalleklev, Chief Executive Officer of Avance Gas
Tel: +47 23 11 40 00

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act