30 March 2021

Management Share Option Plan “LTIP 2017” – Exercise of options and sale of shares by primary insiders

(Singapore, 30 March 2021)

Reference is made to the previous stock exchange announcements by BW LPG Limited (“BW LPG” or the “Company”) regarding the management long-term share option plan implemented in 2017 (“LTIP 2017”).

The following members of the management and primary insiders of the Company have exercised vested options granted under LTIP 2017 and sold shares in BW LPG in the market in a joint sale as set out below. The exercised options will be settled by the Company by transfer of treasury shares which the Company has bought in the market for this purpose. Following the transfer, the Company will hold 3,629,345 treasury shares.

The total number of options and shares held by the relevant primary insiders following the exercise and share sale are as set out below:

Niels Rigault, Executive Vice President, Commercial
Options (granted in 2017) exercised, each having a strike price of NOK 32.845: 71,000
Options held following the option exercise: 411,800
Total number of shares held following the option exercise: 71,000
Number of shares sold: 71,000
Average price sold at: NOK 55.324 per share

Number of shares held following the sale: 0

Elaine Ong, Chief Financial Officer
Options (granted in 2017) exercised, each having a strike price of NOK 32.845: 49,700
Options (granted in 2018) exercised, each having a strike price of NOK 27.675: 49,700
Options held following the option exercise: 255,600
Total number of shares held following the option exercise: 110,030
Number of shares sold: 110,030
Average price sold at: NOK 55.292 per share

Number of shares held following the sale: 0

Pontus Berg, Executive Vice President, Technical & Operations
Options (granted in 2017) exercised, each having a strike price of NOK 32.845: 21,300
Options (granted in 2018) exercised, each having a strike price of NOK 27.675: 21,300
Options held following the option exercise: 153,360
Total number of shares held following the option exercise: 49,095
Number of shares sold: 49,095
Average price sold at: NOK 55.314 per share
Number of shares held following the sale: 0

Please refer to the attached for further details.

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 and Corporate Development
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, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. BW Group controls a fleet of over 420 ships transporting crude oil, oil products, and dry commodities, and comprises one of the largest gas fleets in the world with over 190 LNG and LPG vessels.

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