Avance Gas Holding Ltd – Sale leaseback transaction of the VLGC Iris Glory successfully executed

Bermuda, 21 December 2021 - Avance Gas Holding Ltd ("AGAS" or the "Company") is pleased to announce the successful completion of the $41.65 million sale and leaseback transaction with a Japanese lessor previously announced in October 2021. The financing has a 9-year tenor with an implied 22-year age adjusted repayment profile and no repurchase obligation. Following repayment of debt, the transaction generated approximately $16.6 million in net cash proceeds.

For further queries, please contact:

Randi Navdal Bekkelund, CFO

Tel: +47 22 00 48 29

ABOUT AVANCE GAS
Avance Gas operates in the global market for transportation of liquefied petroleum gas (LPG). The Company is one of the world's leading owners and operators of very large gas carrier (VLGC) and operates a fleet of thirteen modern ships and six Dual Fuel LPG newbuildings due for delivery in Q1 2022, Q4 2022 and Q1-Q4 2023.

For more information about Avance Gas, please visit: www.avancegas.com

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