(Singapore, 28 February 2020) 

The Board of Directors of BW LPG Limited (“BW LPG” or the “Company”) has
approved the award of share options to the senior management of BW LPG. This is
the fourth annual award of share options under the five-year long-term
management share option plan (“LTIP 2017”) which was launched on 21 April 2017.
LTIP 2017 is aimed at aligning the interests of the senior management of the
Company with those of the shareholders. Details of the plan can be found in the
following link:
https://www.bwlpg.com/investor-centre/press-releases/detail/Management-Share-Opt
ion-Plan-LTIP-2017 

The total number of options that will be awarded in 2020 is 335,120 options. The
options will be awarded in connection with the publication of the quarterly
report for Q4 2019.

The Company will purchase 335,120 common shares, representing 0.2% of the total
number of shares in issue, at a price of up to US$2.5 million. The shares will
be purchased from the open market, commencing on 4 March 2020 and will continue
until and including 10 March 2020.

The following primary insiders of the Company have been awarded the fourth
annual tranche of share options under LTIP 2017. The total number of shares (if
any) held by these primary insiders are as set out below:

Elaine Ong, Chief Financial Officer 
Options awarded in 2020: 85,200 
Options awarded in 2019: 85,200 
Options awarded in 2018: 49,700 
Options awarded in 2017: 49,700 
Shares held: 10,630

Niels Rigault, Executive Vice President, Commercial 
Options awarded in 2020: 113,600 
Options awarded in 2019: 113,600 
Options awarded in 2018: 71,000 
Options awarded in 2017: 71,000 
Shares held: 96,000

Pontus Berg, Executive Vice President, Technical and Operations 
Options awarded in 2020: 51,120 
Options awarded in 2019: 51,120 
Options awarded in 2018: 21,300 
Options awarded in 2017: 21,300 
Shares held: 6,495

Jo Moffat, Vice President, Product Services 
Options awarded in 2020: 39,760 
Options awarded in 2019: 39,760 
Shares held: NIL

Prodyut Banerjee, Vice President, Operations 
Options awarded in 2020: 22,720 
Options awarded in 2019: 22,720 
Shares held: NIL

Knut-Helge Knutsen, Vice President, Technical 
Options awarded in 2020: 22,720 
Options awarded in 2019: 22,720 
Shares held: NIL

For further information, please contact:

Elaine Ong, CPA, CA
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
E-mail: elaine.ong@bwlpg.com

Iver Baatvik
Head of Investor Relations
BW LPG Limited
Tel: +65 6705 5519
E-mail: iver.baatvik@bwlpg.com

About BW LPG

BW LPG is the world's leading owner and operator of LPG vessels, owning and
operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over
3 million CBM. With five decades of operating experience in LPG shipping and
experienced seafarers and staff, BW LPG offers a flexible and reliable service
to customers. More information about BW LPG can be found at www.bwlpg.com. 

BW LPG is associated with BW Group, one of the world's leading shipping groups.
BW Group controls a fleet of over 360 ships which includes product tankers, LNG
and LPG carriers, floating storage and regasification (FSRU) units, dry cargo
carriers, crude oil supertankers and floating production storage and offloading
(FPSO) units. 

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