BW Epic Kosan : Odfjell SE completes exit from gas carrier segment

On August 16, 2021, Odfjell Gas Shipowning AS, a subsidiary 100% owned by
Odfjell SE, entered into a transaction agreement with BW Epic Kosan Ltd. (BWEK)
for the sale of two LPG/Ethylene carriers, Bow Guardian and Bow Gallant, both
built in Korea in 2008.

The purchase price will be settled partly in cash, to be used for the full
repayment of mortgaged loans on the vessels, and partly by the issuance of
6,889,611 freely transferable shares in BWEK. Following the transaction, Odfjell
will own 4.3% of the shares in BWEK.

The transaction is expected to close prior to October 31, 2021. Pursuant to the
transaction agreement, an additional consideration of up to 362,611 shares in
BWEK can be received subject to certain conditions being fulfilled during an 18
-month period from delivery of the vessels.

The transaction concludes Odfjell SE's exit from the gas segment and the
shareholding in BWEK will be considered as a non-strategic financial investment.

The transaction is expected to generate a minor positive contribution to
Odfjell's P&L and will also have a positive impact on the company's balance
sheet.

Contact:
Bjørn Kristian Røed, VP Corporate Analysis & IR
Tel: [phone]
E-mail: [e-mail]

Terje Iversen, CFO
Tel: [phone]
E-mail: [e-mail] ([e-mail])

The Odfjell Group is one of the leading players in the global market for
seaborne transportation and storage of chemicals and other specialty bulk
liquids. The Odfjell fleet comprises of approx. 90 ships, which trade both
globally and regionally. The tank terminal division consists of five tank
terminals and is part of a network of another 11 tank terminals partly owned by
related parties. The tank terminals are strategically located at selected
international shipping hubs. The Odfjell Group's headquarters are in Bergen,
Norway, and the Group has offices in 14 locations around the world. Odfjell
employs around 2300 staff and posted annual gross revenue of USD 939 million in
2020. Read more on Odfjell.com (https://www.odfjell.com/).

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

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