AWILCO LNG ASA The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today reports unaudited results for the three months endedJune 30, 2023 . HIGHLIGHTS 1) oAwilco LNG achieved a net result ofUSD 11.0 million and profit per share ofUSD 0.08 in the second quarter, up from a net result ofUSD 9.0 million andUSD 0.07 per share in the first quarter 2023. First half 2023 net result ended atUSD 20.1 million orUSD 0.15 per share. o Net freight income ofUSD 21.9 million in second quarter 2023, up fromUSD 20.5 million in first quarter 2023. First half 2023 net freight income ended atUSD 42.4 million , up fromUSD 24.3 for the same period last year. o EBITDA second quarter 2023 ended atUSD 18.4 million , up fromUSD 16.6 million in first quarter 2023. First half 2023 EBITDA ended atUSD 35.0 million , up from 17.7 million for the same period last year. o Vessel utilization was 100% in second quarter and for the first half year in total, compared to 88% and 94% for the same periods last year. o Net TCE came in atUSD 120,500 andUSD 117,150 per day for second quarter and first half year respectively, compared toUSD 56,400 andUSD 67,400 per day respectively for the same periods last year. o In June the Company paidNOK 0.50 per share in dividend, corresponding toUSD 6.4 million bringing total paid dividend during first half of 2023 toNOK 1.00 per share, corresponding toUSD 12.5 million in total. o OnAugust 22, 2023 , the Board authorized a cash dividend payment ofNOK 0.25 per share to be paid in September. After completing the ongoing dry docking of both vessels, the Board expects to increase dividend payments for the next quarters. Jon Skule Storheill, Chief Executive Officer, commented: "On the back of fixed rate contracts for both WilForce and WilPride we are pleased to report another strong quarter with a profit ofUSD 11.0 million . Seasonally low spot rates throughout the second quarter are now behind us and we are seeing rate levels increasing as usual for this time of year. Although both our vessels will be going through their scheduled second special survey incurring substantial off-hire periods in the third quarter, the fixed earnings contracts will enable the company to continue to return value to our shareholders also in this period. The board resolved and declared a quarterly dividend ofNOK 0.25 payable inSeptember 2023 " Enclosed is in addition a second quarter 2023 presentation. No physical presentation will be held covering second quarter 2023. Note on Alternative performance measures: Alternative performance measures are defined and explained in the APM section of the Quarterly report. 1) Please refer to definitions in Appendix A for descriptions of alternative performance measuresOslo ,August 23, 2023 For further information please contact: CEO Jon Skule Storheill Phone: +47 913 44 356 CFO Per Heiberg Phone: +47 952 20 264 AboutAwilco LNG ASA Awilco LNG is a Norwegian based LNG transportation provider, owning and operating LNG vessels intended for international trade. The Company currently owns two 2013 built 156,000 cbm TFDE membrane LNG vessels, WilForce and WilPride.
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