23rd December 2020, Oslo / Singapore / Copenhagen: Epic Gas Ltd. (ticker "EPIC",
Epic Gas or "the Company"), a leading LPG shipping solutions company, and
Lauritzen Kosan A/S ("Lauritzen"), the gas carrier division of J. Lauritzen,
today announce that they have entered into a transaction agreement to combine
their fleet and business activities to create BW Epic Kosan. 

o	Combination creates a world leader in last mile delivery of LPG and other
speciality gases and petrochemicals: Lauritzen Kosan will contribute 34 gas
carriers to Epic Gas's fleet of 43 pressurised gas vessels, in addition to
certain other assets, in exchange for new shares in Epic Gas equivalent to a 27%
stake. 

o	BW Epic Kosan will have greater scale and synergies across the organisation -
the combined fleet of 77 LPG/ethylene vessels will range in size from 3,500 cbm
to 12,000 cbm. 53 of the vessels will be wholly owned, with a Gross Asset Value
of USD 900 million. The combined organisation will have significant commercial
and technical capability across pressurised, semi-refrigerated, refrigerated gas
and petrochemical transportation.

o	Enhanced global reach - our aim is to deliver leading service and operational
standards to our combined global customer base. BW Epic Kosan will be
headquartered in Singapore, with Copenhagen as a regional office alongside
offices in London, Manila, and Tokyo. Epic Gas's current CEO Charles Maltby will
be CEO of the combined entity, Lauritzen Kosan's CEO Thomas Wøidemann will lead
the commercial organisation, and Epic Gas CFO Uta Urbaniak-Sage will be CFO. The
team will be built on the strengths of both organisations. 

o	Reduced cost of finance - As a part of this transaction, BW Epic Kosan has
secured committed finance for the Lauritzen Kosan fleet at USD 155 million from
SEB, Danske Bank, Nordea, Danish Ship Finance and Crédit Agricole CIB.

o	Strong shareholder base - Post-completion, BW Group will be the largest
shareholder in BW Epic Kosan with 58%, followed by J. Lauritzen A/S with 27%,
Tailwind, and Epic's existing minority shareholders. The shares will continue to
trade on Euronext Growth Oslo as EPIC.

o	Completion of the transaction is subject to obtaining necessary competition
clearances, as well as other customary closing conditions. The transaction is
expected to close by the end of Q1 2021.
o	Lauritzen Kosan was advised on the transaction by SEB Corporate Finance.

Comment
Andreas Sohmen-Pao, Chairman of Epic Gas, says:
"This transaction combines two well reputed operators into a strong new entity
in the sector. We welcome our colleagues from Lauritzen Kosan and look forward
to working together to build a great company delivering cleaner energy and
feedstock to communities around the world."


Tommy Thomsen, CEO of the Lauritzen Foundation and Chairman of Lauritzen Kosan,
says:
"We are delighted to be partnering with BW Group and other Epic shareholders.
This will help to improve operational efficiencies and deliver an enhanced
service offering to our customers. With a large and modern fleet spanning LPG
and other petrochemical gases, BW Epic Kosan will be well positioned to deliver
value for customers, while meeting IMO objectives for decarbonisation."
Ends -

Please refer to the attached press release for further details.

Epic Gas Ltd.
www.epic-gas.com
ir@epic-gas.com

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