Awilco LNG : presentation Pareto September 21 2023

Pareto Securities' 30th Annual Energy Conference

September 21, 2023

Jon Skule Storheill, CEO

Disclaimer

This presentation may include certain forward-looking statements, forecasts, estimates, predictions, influences and projections regarding the intent, opinion, belief, various assumptions or current expectations of Awilco LNG (the "Company") and it's management with respect to, among other things, (i) goals and strategies, (ii) evaluation of the Company's markets, competition and competitive position, and (iii) anticipated future performance and trends which may be expressed or implied by financial or other information or statements contained herein.

All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as "may", "could", "should", "would", "expect", "plan", "anticipate", "intend", "forecast", "believe", "estimate", "predict", "propose", "potential", "continue" or the negative of these terms and similar expressions are intended to identify such forward-looking statements.

These forward-looking statements, forecasts, estimates, predictions, influences and projections are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that will occur in the future, some of which are beyond our control and difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements, and no representation is made as to the accuracy of these. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements, forecasts, estimates, predictions, influences and projections are: changes in LNG transportation market trends; changes in the supply and demand for LNG; changes in trading patterns; changes in applicable maintenance and regulatory standards; changes in applicable regulations and laws; technological developments affecting gas and LNG demand; political events affecting production and consumption of LNG; changes in the financial stability of clients of the Company; the Company's ability to secure employment for available vessels and newbuildings on order; increases in the Company's cost base; failure by yards to comply with delivery schedules; changes to vessels' useful lives and residual values; the Company's ability to obtain financing of the newbuildings and lastly unpredictable or unknown factors with material adverse effects on forward-looking statements.

Neither the receipt of this presentation by any person, nor any information contained herein, constitutes, or shall be relied upon as constituting, any advice relating to the future performance of the Company. Each person should make their own independent assessment of the merits of the Company and its business and should consult their own professional advisors. The information and opinions contained in this presentation relate only as of the date of this presentation and are subject to change without notice. Neither the Board of Directors of the Company or the Company and it's management make any representation or warranty, express or implied, as to the accuracy or completeness of this presentation or of the information contained herein and none of such parties shall have any liability for the information contained in, or any omissions from, this presentation, nor for any of the written, electronic or oral communications transmitted to the recipient in the course of the recipient's own investigation and evaluation of the Company or its business. Unless legally required, the Company assumes no responsibility or obligation to update publicly or review any of the forward-looking statements contained herein, whether as a result of new information, future events or otherwise.

www.awilcolng.no

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Company overview

Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers.

The Company owns and operates two 2013-built 156,000 cbm TFDE LNG carriers, WilPride and WilForce, trading in the medium term and spot market.

Awilco LNG is listed on Euronext Expand with ticker ALNG.

www.awilcolng.no

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Performance first half 2023

	1H 2023	1H 2022
In USD millions, unless stated otherwise
Freight income	42.8	26.3
Voyage related expenses	0.4	2.3
EBITDA	35.0	17.7
Net profit/(loss)	20.1	6.0
Total assets	348.3	349.4
Total equity	134.0	126.6
Gross interest-bearing debt	201.6	220.4
Cash and cash equivalents	29.4	20.6
Book equity ratio (in %)	38.5%	36.2%
Net TCE	117.500 $/d	67.400 $/d

• Both vessels on high earning TC's at an average rate of $120,500 per day
• Both vessels passing 2nd special survey in third quarter 2023; will affect P&L and CF during the period
• WilForce fixed until August 2024
• WilPride fixed until December 2025 with option for 2 additional years
• No debt refinancing until 2030
• • Rolling purchase options enable opportunistic refinancing

www.awilcolng.no

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Dividend capacity

• The Company declared it's first dividend in February 2023
• NOK 1.25 / USD 0.12 per share paid to date based on Q4/22 - Q2/23 results
• Income is fixed until August 2024 for WilForce and with WilPride fixed until at least December 2025 dividend capacity remain strong
• Potential dividend capacity throughout 2025 with open days priced at:

•USD 200,000 per day:

•USD 100,000 /per day:

•USD 75,000 /per day:

USD 0.80 per share (Current spot rate)

USD 0.40 per share (Current three years TC rate) USD 0.30 per share (Low case)

•

Current share price:

USD 0.80 per share

www.awilcolng.no

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