The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today
reports unaudited results for the three months ended June 30, 2024.

HIGHLIGHTS  1)
o Awilco LNG achieved a net result of USD 8.7 million and earnings per share of
USD 0.07 in the second quarter 2024, up from a net result of USD 7.2 million and
USD 0.05 per share in the first quarter 2024. First half year 2024 net result
ended at USD 15.8 million and USD 0.12 per share.
o Net freight income of USD 22.4 million in second quarter 2024, compared to USD
21.9 million in first quarter 2024. First half year 2024 net freight income
ended at USD 44.3 million, up from USD 42.4 million for the same period last
year.
o EBITDA in second quarter 2024 ended at USD 18.8 million, up from USD 17.6
million in first quarter 2024. First half year 2024 EBITDA ended at USD 36.4
million, up from 35.0 million for the same period last year.
o Vessel utilization was 100% for second quarter 2024, the same as for first
quarter 2024 and for first half year last year.
o Net TCE came in at USD 122,900 and USD 121,700 per day for second quarter and
first half year respectively, compared to USD 120,500 and USD 117,500 per day
respectively for the same periods last year.
o In May the Company declared a dividend of NOK 0.75 per share for the first
quarter. The dividend, corresponding to USD 9.3 million was paid in July 2024.
o On June 13, 2024 the Company completed the refinancing of both vessels. The
refinancing will reduce the Company's cash payments by approximately USD 6.5
million over the next 12 months and cash break-even will be reduced by
approximately USD 9,000 per day per vessel compared to the previous financing.
o On August 20, 2024, the Board authorized a cash dividend payment of NOK 0.25
per share to be paid in September 2024. The Company has thus declared a total of
NOK 3.60 per share in dividends since the inception of dividends in March 2023.

Jon Skule Storheill, Chief Executive Officer, commented:
"We are pleased to report another strong quarterly and half year profit in 2024.
The completed refinancing of our vessels will significantly reduce our financing
cost, cash break even, and increase the company's financial robustness going
forward. WilForce is currently trading in the spot market while we are actively
seeking longer term employment for the vessel. Activity picked up this summer
and towards the upcoming winter season although we have only seen a small
improvement in rates so far as disruption of LNG production in the USG after
hurricane Beryl mid July led to several cargo cancellations and thereby increase
of available vessels. The board resolved and declared a dividend of NOK 0.25 per
share for the second quarter, payable in September 2024".

Enclosed is in addition a Second quarter 2024 presentation. No physical
presentation will be held covering second quarter 2024.

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


Oslo, August 21, 2024

For further information please contact: 

CEO Jon Skule Storheill
Phone: +47 913 44 356

CFO Per Heiberg
Phone: +47 952 20 264

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
own two 2013 built 156,000 cbm TFDE membrane LNG vessels, WilForce and WilPride.