Avance Gas Holding Ltd - Disclosure of Large Shareholding

Hemen Holding Limited ("Hemen"), which is indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family, has on 8 April 2021 subscribed for 6,449,500 shares in Avance Gas Holding Ltd (OSE: AGAS) at a price of NOK 43 per share.

Following the acquisition, Hemen holds 22,535,853 shares in Avance, equalling 29.11% of the shares and votes in Avance.

In addition, Frontline Ltd, a company in which Hemen holds approximately 40.0% of the shares, owns a total of 442,384 shares in Avance, resulting in an aggregate holding of 22,978,237 shares equalling 29.68% of the shares and votes in Avance. The foregoing calculations are made based on 77,426,972 outstanding shares.

8 April 2021, Hamilton, Bermuda

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