BW LPG Limited: Management Share Option Plan “LTIP 2022” – Award and Exercise of Share Options

Key Terms

treasury shares financial

Treasury shares are a company’s own stock that it has repurchased and keeps on its books instead of canceling or leaving in the hands of outside investors. Think of them like coupons a business puts back in a drawer: they don’t vote or receive dividends while held, but they can be reissued later for employee pay or fundraising. For investors this matters because buybacks change the number of shares that count toward earnings and ownership, can boost per‑share metrics, and use corporate cash that might otherwise go to growth or dividends.

strike price financial

The strike price is the fixed price at which an option gives its holder the right to buy or sell an underlying stock. Think of it like a coupon that lets you transact at a pre-agreed price regardless of the market; for investors it determines whether an option will be profitable, influences potential gains or losses, and is a key factor in the option’s market value and risk profile.

primary insiders regulatory

Primary insiders are the people and entities with the most direct access to a company's inside information and decision‑making power, typically executives, board members and large beneficial owners. Their share purchases, sales or other transactions matter to investors because they can signal confidence, reveal plans or pose risks; like watching a pilot's actions to judge a plane's condition, insider moves help assess management’s view of the company and may influence stock prices.

share options financial

Share options are contracts that give someone the right, but not the obligation, to buy a company’s stock at a predetermined price for a limited time—think of them like a coupon to purchase shares later at a set price. They matter to investors because when exercised they increase the number of outstanding shares (dilution), can change management incentives and company value, and represent a potential future claim on profits or equity.

SINGAPORE--(BUSINESS WIRE)-- On 3 March 2026, the Board of Directors of BW LPG Limited (“BW LPG" or the "Company", OSE ticker code: "BWLPG.OL", NYSE ticker code "BWLP) has approved the award of share options to senior management and certain employees of the Company.

This is the final annual award of share options under the five-year long-term management share option plan (“LTIP 2022”) which was launched on 1 March 2022. The options are awarded in connection with the publication of the quarterly report for Q4 2025 and the total number of options that are awarded in 2026 is 506,631.

On 4 March 2026, certain primary insiders have exercised vested share options. The exercised options will be settled by the Company by transfer of treasury shares which the Company has bought in the market for this purpose. Following the transfer, the Company will hold 7,467,396 treasury shares.

Please find more details as described below and in the attached forms.

Kristian Sorensen, Chief Executive Officer 
Options granted in 2026: 220,647 
Options (granted on 28 February 2023) exercised, each having a strike price of NOK 32.192: 120,647 
Options (granted on 1 October 2023) exercised, each having a strike price of NOK 85.907: 100,000

Samantha Xu, Chief Financial Officer 
Options granted in 2026: 85,000

Prodyut Banerjee, Chief Operations Officer 
Options granted in 2026: 50,812 
Options (granted in 2023) exercised, each having a strike price of NOK 32.192: 50,812

Knut-Helge Knutsen, Chief Technical Officer 
Options granted in 2026: 50,812 
Options (granted in 2023) exercised, each having a strike price of NOK 32.192: 50,812

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, with a fleet of about 50 Very Large Gas Carriers (VLGCs), including 22 vessels powered by LPG dual-fuel propulsion technology. Building on over five decades of LPG shipping experience, the company is strengthened by an in-house LPG trading division and the commercial expertise to explore investments in value chain assets. Together, these capabilities enable BW LPG to provide trusted and reliable services for sourcing and delivering LPG to customers worldwide. Delivering energy for a better world – more information about BW LPG can be found at www.bwlpg.com.

BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse Regulation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260306217940/en/

For further information, please contact:

Samantha Xu

Chief Financial Officer

E-mail: investor.relations@bwlpg.com

Source: BW LPG Limited