With reference to the press release dated December 4, 2023, Awilco LNG ASA (the
Company) is pleased to announce that the documentation for the refinancing of
the Company's two 2013-built 156,000 cbm TFDE LNG carriers WilForce and WilPride
has today been signed.

The sale/leaseback facility is provided by China Development Bank Financial
Leasing Co. Ltd. (CDB Leasing), a leading leasing house in China. The new
facility will enable a full take out of the Company's current sale/leaseback
facilities. The facility bears a longer amortisation profile and a longer tenor
than the current facility and the floating interest rate structure has a lower
margin all of which substantially reduces the Company's running cost and cash
break-even level. 

The Company will expense remaining capitalized expenses related to the previous
financing in the first quarter of 2024. This is compensated by the USD 10,000
per day per vessel reduction in cash break-even with the new financing.

The facility is expected to close on delivery of the vessels to CDBL late second
or early third quarter 2024 depending on customary closing conditions.

Jon Skule Storheill, CEO of Awilco LNG ASA, stated: "We are pleased to mark the
start of our long-term relationship with CDB Leasing with this transaction and
are at the same time pleased to see our finance cost improve and support the
Company's commercial strategy."

For further information please contact: 

Jon Skule Storheill
Chief Executive Officer
Mobile: +47 913 443 56

Per Heiberg
Chief Financial Officer
Mobile: +47 952 20 264

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