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Avance Gas: Changes to the Board composition

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Avance Gas Holding Ltd (“Avance Gas” or the “Company”) announces that James O’Shaughnessy has in a board meeting today been elected as a new board member in the Company to fill vacancies on the Board.

James O’Shaughnessy has been an Executive Vice President, Chief Accounting Officer and Corporate Controller of Axis Capital Holdings Limited since March 26, 2012. Prior to that Mr. O'Shaughnessy has amongst other served as Chief Financial Officer in the Bermuda operations of Flagstone Reinsurance Holdings SA and as Chief Accounting Officer and Senior Vice President of Scottish Re Group Ltd., and Chief Financial Officer of XL Re Ltd. at XL Group plc.  Mr. O'Shaughnessy received a Bachelor of Commerce degree from University College, Cork, Ireland in the year 1981 to 1985 and is both a Fellow of the Institute of Chartered Accountants of Ireland and an Associate Member of the Chartered Insurance Institute of the UK. Mr. O'Shaughnessy earned a Master's Degree in Accounting from University College Dublin in the year 1985 to 1986.

January 13, 2021
The Board of Directors
Avance Gas Holding Ltd
Hamilton, Bermuda

ABOUT AVANCE GAS
Avance Gas operates in the global market for transportation of liquefied petroleum gas (LPG). The Company is one of the world's leading owners and operators of Very Large Gas Carriers (VLGC), and operates a fleet of thirteen modern ships and two Dual Fuel LPG newbuildings due for delivery in 2021 and 2022.

For more information about Avance Gas, please visit: www.avancegas.com

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



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