Avance Gas Holding Ltd: Appointment of Øystein Kalleklev as CEO of Avance Gas

Hamilton, Bermuda. April 24, 2023

The Board of Avance Gas Holding Ltd (the "Company" or "Avance Gas”) (OSE: AGAS) has today appointed Executive Chairman Øystein Kalleklev as Chief Executive Officer (CEO) of Avance Gas.

As a result, Mr. Kalleklev will step down as Executive Chairman of the Company and rather participate as regular Board member going forward. Mr. Kalleklev is nominated as ordinary Board member of Avance Gas at the Annual General Meeting to be held in Bermuda on May 8, 2023. The Board has discretion to appoint Chairman of the Board as it sees fit.

The management of Avance Gas will thus consist of Øystein Kalleklev as CEO, Randi Navdal Bekkelund as CFO and Marius Foss as CCO. The change in roles will have no effect for Flex LNG Ltd (NYSE/OSE: FLNG) where Mr. Kalleklev will also continue to serve as CEO.  

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