BW LPG Limited – Update on BW LPG’s Product Services Q3 2026 Segment Performance

Realised cargo, freight and hedging results accounted for US$146 million of the segment’s quarterly trading result.

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SINGAPORE--(BUSINESS WIRE)-- BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code: “BWLP”) today provides an update on its Product Services’ (“BW Product Services”) Q3 2026 segment performance.

Q3 2026 highlights:

• Gross trading result: US$164 million
• This includes:
  • Realised trading result of US$146 million
  • Positive unrealised mark-to-market movement of US$18 million
• Net profit after general and administrative expenses and income taxes: US$118 million
• Average Value-At-Risk (VaR): US$18 million
• The trading result will form part of the BW LPG Q3 2026 results, which will be released on 24 November 2026

Performance overview:

For the quarter ended 30 September 2026, BW Product Services achieved a realised trading result of US$146 million from our portfolio of cargo, freight and hedging transactions. After accounting for the positive unrealised mark-to-market movement of US$18 million from our open cargo contracts and hedging transactions, BW Product Services reported a gross trading result of approximately US$164 million for the quarter.

After general and administrative expenses and income taxes, the estimated net profit was approximately US$118 million for the quarter.

The average Value-At-Risk (VaR) for Q3 was approximately US$18 million, reflecting a sustained period of heightened market volatility across our core product exposures.

Says Kristian Sørensen, Chief Executive Officer, “Despite continued geopolitical uncertainty and volatile LPG market conditions, BW Product Services delivered a strong result in Q3. This brings the year-to-date Q3 realised trading result to approximately US$263 million. BW Product Services is well positioned to continue capitalising on the current market, thanks to the active risk management.”

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) and Large Gas Carriers (LGCs), including 20 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 energy and maritime company involved in shipping, deepwater oil & gas production, renewable energy and digital infrastructure. BW controls a fleet of over 400 vessels transporting oil, gas and dry commodities. In the infrastructure space, the group operates in wind, batteries, water, subsea cable networks and data centres. www.bw-group.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20261018128690/en/

For further information, please contact:

Kristian Sørensen, Chief Executive Officer
Samantha Xu, Chief Financial Officer
E-mail: investor.relations@bwlpg.com

Source: BW LPG Limited

Key Terms

value-at-risk financial

Value-at-risk (VaR) estimates the largest loss an investment or portfolio is likely to suffer over a specific time frame at a given probability level — for example, the amount you would expect to lose or exceed only 5% of the time. Think of it like a weather forecast for losses: it gives a commonly agreed threshold for how bad things might get. Investors use VaR to set risk limits, compare portfolios, and decide how much capital to hold against potential losses.

mark-to-market financial

"Mark-to-market" is a method of valuing assets or investments based on their current market price, rather than their original cost or value. It helps investors see the most up-to-date worth of their holdings, much like checking the latest price of a stock before deciding to buy or sell. This approach ensures that financial statements reflect real-time value, providing a clearer picture of overall financial health.

hedging financial

Hedging is a way to protect an investment or future cash flows by taking an offsetting position or using a financial tool so that losses in one place are reduced by gains in another, like buying insurance for a car. It matters to investors because it can lower the chance of big losses and make returns more predictable, though it often comes at a cost and can limit upside gains.

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