Reported Earnings • Apr 06
Full year 2025 earnings released: EPS: US$1.60 (vs US$2.65 in FY 2024) Full year 2025 results: EPS: US$1.60 (down from US$2.65 in FY 2024). Revenue: US$3.58b (flat on FY 2024). Net income: US$242.3m (down 32% from FY 2024). Profit margin: 6.8% (down from 9.9% in FY 2024). Revenue is expected to decline by 72% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.0%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$15.45, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Oil and Gas industry in the US. Total returns to shareholders of 148% over the past three years. Declared Dividend • Mar 06
Fourth quarter dividend of US$0.57 announced Shareholders will receive a dividend of US$0.57. Ex-date: 13th March 2026 Payment date: 23rd March 2026 Dividend yield will be 8.6%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not covered by earnings (115% earnings payout ratio) nor is it adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 28% to bring the payout ratio under control. However, EPS is expected to decline by 40% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Mar 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 115% Cash payout ratio: 94% Earnings are forecast to decline by an average of 20% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.8% net profit margin). Duyuru • Mar 03
Bw Lpg Limited Declares Dividend for Fourth Quarter of 2025, March 23, 2026 The board of BW LPG Limited declared cash dividend of USD 0.57 per share for the fourth quarter of 2025. For shares registered with Euronext VPS, dividend per share is NOK 5.4297. The record date is March 13, 2026, Ex-date: March 12, 2026 and March 13, 2026. The Dividend payment date is On or about 23 March 2026. Duyuru • Dec 13
BW LPG Limited, Annual General Meeting, May 28, 2026 BW LPG Limited, Annual General Meeting, May 28, 2026. Declared Dividend • Dec 04
Third quarter dividend of US$0.40 announced Shareholders will receive a dividend of US$0.40. Ex-date: 12th December 2025 Payment date: 22nd December 2025 Dividend yield will be 10%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 17% over the next 2 years. However, it would need to fall by 59% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Dec 03
Third quarter 2025 earnings released: EPS: US$0.38 (vs US$0.79 in 3Q 2024) Third quarter 2025 results: EPS: US$0.38 (down from US$0.79 in 3Q 2024). Revenue: US$943.8m (up 17% from 3Q 2024). Net income: US$57.1m (down 46% from 3Q 2024). Profit margin: 6.0% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 64% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.2%. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Duyuru • Dec 02
BW LPG Limited Announces Cash Dividend for the Third Quarter of 2025, Payable on or About 22 December 2025 BW LPG Limited has approved a Cash dividend of USD 0.40 per share on 1 December 2025 for the third quarter of 2025. For shares registered with Euronext
VPS, dividend per share is NOK 4.0474. Record date: 12 December 2025. Ex-date for Shares registered with Euronext VPS: 11 December 2025. Dividend payment date: On or about 22 December 2025. Last trading day including the right to receive this dividend for Shares registered with Euronext VPS: 10 December 2025. New Risk • Sep 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.1% net profit margin). Declared Dividend • Aug 29
Second quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 5th September 2025 Payment date: 15th September 2025 Dividend yield will be 8.6%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (89% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 26
Second quarter 2025 earnings released: EPS: US$0.23 (vs US$0.58 in 2Q 2024) Second quarter 2025 results: EPS: US$0.23 (down from US$0.58 in 2Q 2024). Revenue: US$1.04b (up 19% from 2Q 2024). Net income: US$34.9m (down 55% from 2Q 2024). Profit margin: 3.3% (down from 8.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 64% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.7%. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 26
BW LPG Limited Declares Cash Dividend for the Second Quarter of 2025, Payable on or About 18 September 2025 BW LPG Limited Board has approved a cash dividend of USD 0.22 per share on 25 August 2025 for the second quarter of 2025 . Dividends payable to shares registered with Euronext VPS will be distributed in NOK, with the exchange rate made available on the day of payment. Record date: 5 September 2025. Last trading day including the right to receive this dividend: 3 September 2025. Ex-date: 4 September 2025. Dividend payment date: On or about 18 September 2025. Last trading day including the right to receive this dividend: 4 September 2025. Ex-date: 5 September 2025. Dividend payment date: On or about 15 September 2025. New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. High level of non-cash earnings (20% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (7.6% net profit margin). Declared Dividend • May 22
First quarter dividend reduced to US$0.28 Dividend of US$0.28 is 72% lower than last year. Ex-date: 30th May 2025 Payment date: 9th June 2025 Dividend yield will be 17%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not covered by earnings (130% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 45% to bring the payout ratio under control. However, EPS is expected to decline by 9.9% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • May 20
First quarter 2025 earnings released: EPS: US$0.30 (vs US$1.08 in 1Q 2024) First quarter 2025 results: EPS: US$0.30 (down from US$1.08 in 1Q 2024). Revenue: US$862.1m (down 17% from 1Q 2024). Net income: US$46.1m (down 68% from 1Q 2024). Profit margin: 5.3% (down from 14% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 70% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.5%. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Duyuru • May 20
BW LPG Limited Declares Cash Dividend for the First Quarter of 2025 BW LPG Limited declared cash dividend of USD 0.28 per share for the first quarter of 2025. Duyuru • May 16
BW LPG Limited Approves Appointment of Nomination Committee BW LPG Limited announced at annual general meeting held on May 15, 2025, approved to appoint the following persons to the Nomination Committee: Ms. Alicia Yik Jie Ting as a member of the Nomination Committee and Ms. Elaine Yew Wen Suen as Chair of the Nomination Committee. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$11.89, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Oil and Gas industry in the US. Total returns to shareholders of 114% over the past three years. Duyuru • Apr 08
BW LPG Limited (OB:BWLPG) announces an Equity Buyback for 3,000,000 shares, for $20 million. BW LPG Limited (OB:BWLPG) announces a share repurchase program. Under the program the company will repurchase 3,000,000 shares, for $20 million. The shares purchased will be held as treasury stock. The program is valid till April 17, 2025. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to US$8.67, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 9x in the Oil and Gas industry in the US. Total returns to shareholders of 48% over the past three years. Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: US$2.65 (vs US$3.57 in FY 2023) Full year 2024 results: EPS: US$2.65 (down from US$3.57 in FY 2023). Revenue: US$3.56b (up 21% from FY 2023). Net income: US$354.3m (down 25% from FY 2023). Profit margin: 9.9% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 63% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.8%. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 03
Upcoming dividend of US$0.42 per share Eligible shareholders must have bought the stock before 10 March 2025. Payment date: 19 March 2025. Payout ratio is on the higher end at 91%, and the cash payout ratio is above 100%. Trailing yield: 30%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (3.9%). New Risk • Mar 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.8% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (357% cash payout ratio). Profit margins are more than 30% lower than last year (9.9% net profit margin). Shareholders have been diluted in the past year (16% increase in shares outstanding). Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: US$2.65 (vs US$3.53 in FY 2023) Full year 2024 results: EPS: US$2.65 (down from US$3.53 in FY 2023). Revenue: US$3.56b (up 21% from FY 2023). Net income: US$354.3m (down 25% from FY 2023). Profit margin: 9.9% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 73% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 27
BW LPG Limited Approves Dividend, Payable on or About 19 March 2025 and 24 March 2025 Respectively BW LPG Limited's Board has approved a dividend of USD 0.42 per share on 26 February 2025. Dividends payable to shares registered with Euronext VPS will be distributed in NOK, with the exchange rate made available on the day of payment. Record date: 10 March 2025. Ex-date: 7 March 2025. Dividend payment date: On or about 24 March 2025. Ex-date: 10 March 2025. Dividend payment date: On or about 19 March 2025. New Risk • Dec 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Upcoming Dividend • Dec 05
Upcoming dividend of US$0.42 per share Eligible shareholders must have bought the stock before 12 December 2024. Payment date: 27 December 2024. Payout ratio and cash payout ratio are on the higher end at 81% and 77% respectively. Trailing yield: 29%. Within top quartile of American dividend payers (4.2%). Higher than average of industry peers (3.9%). Reported Earnings • Dec 03
Third quarter 2024 earnings released: EPS: US$0.79 (vs US$0.85 in 3Q 2023) Third quarter 2024 results: EPS: US$0.79 (down from US$0.85 in 3Q 2023). Revenue: US$805.0m (up 13% from 3Q 2023). Net income: US$104.7m (down 7.3% from 3Q 2023). Profit margin: 13% (down from 16% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 73% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.5%. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 41% per year. Duyuru • Dec 02
BW LPG Limited Declares Cash Dividend for the Third Quarter of 2024, Payable on or About 27 December 2024 The Board of BW LPG Limited has declared a cash dividend of USD 0.42 per share, representing 100% payout ratio of Shipping NPAT and an annualised dividend yield of 14%. Total Third Quarter dividend amount to USD 61.6 million based on 146.7 million shares outstanding. The Board has approved a dividend of USD 0.42 per share on 1 December 2024. Dividends payable to shares registered with Euronext VPS will be distributed in NOK, with the exchange rate made available on the day of payment. Record date: 12 December 2024. Shares registered with Euronext VPS Oslo Stock Exchange: Last trading day including the right to receive this dividend: 10 December 2024. Ex-date: 11 December 2024. Dividend payment date is On or about 27 December 2024. Shares registered with Depository Trust Company - NYSE: Last trading day including the right to receive this dividend: 11 December 2024. Ex-date: 12 December 2024. Dividend payment date: On or about 19 December 2024. Recent Insider Transactions • Oct 16
VP & Head of Technical recently sold US$385k worth of stock On the 10th of October, Knut-Helge Knutsen sold around 25k shares on-market at roughly US$15.49 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Sep 03
Upcoming dividend of US$0.58 per share Eligible shareholders must have bought the stock before 10 September 2024. Payment date: 30 September 2024. Payout ratio is on the higher end at 90%, however this is supported by cash flows. Trailing yield: 23%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (4.0%). Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: US$0.58 (vs US$0.59 in 2Q 2023) Second quarter 2024 results: EPS: US$0.58 (down from US$0.59 in 2Q 2023). Revenue: US$876.5m (up 91% from 2Q 2023). Net income: US$76.8m (down 1.9% from 2Q 2023). Profit margin: 8.8% (down from 17% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 63% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.0%. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 45% per year. Duyuru • Aug 22
BW LPG Limited Approves Second Quarter 2024 Dividend, Payable on or About 30 September 2024 The Board of BW LPG Limited has approved second quarter 2024 dividend of USD 0.58 per share on 21 August 2024. Dividends payable to shares registered with Euronext VPS will be distributed in NOK, with the exchange rate made available on the day of payment. Record date is 10 September 2024. Ex-date is 9 September 2024. Dividend payment date is On or about 30 September 2024. Last trading day including the right to receive this dividend is 6 September 2024. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$16.76, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Oil and Gas industry in the US. Total returns to shareholders of 171% over the past three years. Reported Earnings • Jun 04
First quarter 2024 earnings released: EPS: US$1.07 (vs US$0.95 in 1Q 2023) First quarter 2024 results: EPS: US$1.07 (up from US$0.95 in 1Q 2023). Revenue: US$1.04b (up 16% from 1Q 2023). Net income: US$141.9m (up 12% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Revenue is expected to decline by 59% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.5%. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 31
BW LPG Limited Approves Cash Dividend for the First Quarter of 2024, Payable On or About 28 June 2024 BW LPG Limited approved cash dividend of USD 1.00 per share for the first quarter of 2024. Dividends payable to shares registered with Euronext VPS will be distributed in NOK. Date of approval is 29 May 2024. Record date is 10 June 2024. Last trading day including the right to receive this dividend is 6 June 2024 Ex-date is 7 June 2024 Dividend payment date is On or about 28 June 2024. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to US$21.63, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Oil and Gas industry in the US. Total returns to shareholders of 209% over the past three years. Duyuru • Feb 29
BW LPG Limited Approves Cash Dividend for the Fourth Quarter of 2023, Payable on 22 March 2024 BW LPG Limited approved cash dividend of USD 0.90 or NOK 9.478 per share for the fourth quarter of 2023. Ex-date: 5 March 2024, Record date: 6 March 2024 and Dividend payment date: 22 March 2024. Duyuru • Feb 15
Bw Lpg Limited Approves Appointment of Sanjiv Misra as Director BW LPG Limited announced that at the Special General Meeting held on 14 February 2024, approved Mr. Sanjiv Misra be and is hereby appointed as Director of the Company. Mr. Misra is currently Chairman and Non-Executive Director of several companies and Boards. Mr. Misra began his investment banking career with Goldman Sachs & Co in 1986 and joined Citigroup in 1997; and he has held leadership positions in both organizations over the years. Duyuru • Feb 14
BW LPG Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 BW LPG Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 Duyuru • Feb 06
BW LPG Limited, Annual General Meeting, May 20, 2024 BW LPG Limited, Annual General Meeting, May 20, 2024. Duyuru • Jan 10
BW LPG Limited Announces Executive Changes BW LPG Limited announced that Niels Rigault, Executive Vice President (Commercial), is stepping down as Head of Commercial of BW LPG and will leave the Company after handing his portfolio over to Kristian Sørensen, Chief Executive Officer (CEO). The latter will manage the role of Head of Commercial in the interim and Mr. Rigault will be available for the company to ensure a proper handover during the transition. Duyuru • Nov 15
BW LPG Limited Announces Cash Dividend for Third Quarter 2023, Payable on 15 December 2023 BW LPG Limited announced cash dividend for third quarter 2023. Dividend amount: USD 0.80 or NOK 8.890 per share; Last day the stock is trading including the right to receive this dividend: 16 November 2023; Ex-date: 17 November 2023; Dividend payment date: 15 December 2023; Date of approval: 13 November 2023; Record date: 20 November 2023. Duyuru • Aug 30
BW LPG Limited Announces Cash Dividend for the Second Quarter of 2023, Payable on 15 September 2023 BW LPG Limited provided the following key information relating to its cash dividend for first quarter of 2023. Dividend amount: USD 0.81 or NOK 8.668 per share. Ex-date: 1 September 2023. Dividend payment date: 15 September 2023. Date of approval: 28 August 2023. Record date: 4 September 2023. Duyuru • Jul 07
BW LPG Limited Announces Management Changes BW LPG Limited announced that Anders Onarheim is stepping down as CEO with effect from 30th September 2023. The Board of Directors has appointed Kristian Sørensen, Deputy CEO and Head of Strategy, to succeed Anders as CEO. His experience and insights during his tenure as a non-executive director from 2010 to 2020, and as CEO from 2020 to 2023. Duyuru • Jun 01
BW LPG Limited Appoints Ms Samantha Xu as Chief Financial Officer, Effective 1 September 2023 BW LPG Limited announced that it has appointed Ms Samantha Xu as Chief Financial Officer (CFO), effective 1 September 2023. Ms Xu has over 20 years of international finance experience in shipping and energy. She has held various financial leadership roles for leading companies in Asia, Europe and the Middle East, where she was involved in board governance, investment and risk management, project financing, and M&A activities. Duyuru • May 26
Bw Lpg Limited Announces Elaine Ong to Step Down as CFO BW LPG Limited announces hat Elaine Ong has decided to step down as CFO to pursue other interests, with ffect from today. Iver Baatvik, Head of Corporate Development and Investor elations, will act as interim CFO of BW LPG. Duyuru • May 17
BW LPG Limited Approves Board Changes BW LPG Limited announced that the AGM has elected Mr. Luc Gillet as a new member of the Company's board of directors. Mr. Gillet is a graduated engineer from Ecole Nationale Supérieure de Techniques avancées (1980) and holds an EMBA of HEC (1991). He currently serves as an independent director of Orion Global Transport France (OGTF), an owner and operator of LNG vessels. Prior to this, Mr. Gillet was Senior Vice President Shipping at TotalEnergies and President of the Chartering affiliate CSSA. Mr. Gillet’s bio is available at the following link: https://tinyurl.com/BWLPG-Luc-Gillet Ms Martha Kold Bakkevig, a member of the Company's board of directors since August 2017 and a member of the Company's remuneration committee since October 2018, has decided to step down as of 15 May 2023.