Mandatory notification of trade by primary insiders

Hamilton, Bermuda May 21, 2024 Randi Navdal Bekkelund, CFO of Avance Gas, has today exercised 106,500 share options. The original strike price was NOK 64.94 per share but have been adjusted to NOK 28.11 (the “Adjusted Strike Price”) due to NOK 36.83 dividend paid per share since the options were granted. The stock options have been cash settled with the difference of the Adjusted Strike Price and the closing price at OSE on May 21, 2024. Following the exercise, Ms. Navdal Bekkelund holds no share options in the Company. Please see the attached forms for notification and public disclosure of transaction. For further information, please contact: Investor and Analyst Contact: Randi Navdal Bekkelund, Chief Financial Officer of Avance Gas Tel: +47 23 11 40 00 Media Contact: Øystein Kalleklev, Chief Executive Officer of Avance Gas Tel: +47 23 11 40 00 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.