Bermuda, 7th April 2020. Avance Gas Holding Ltd ("Avance Gas" or the "Company") announces that Ulrik Uhrenfeldt Andersen will step down as CEO of the Company, with effect from April 14th 2020. Our CFO, Peder C. G. Simonsen, will serve as interim CEO until a permanent successor is appointed.

The Board would like to thank Mr Andersen for his significant contribution to the Company.

For further queries, please contact:

Peder C. G. Simonsen, Tel: +47 22 00 48 15

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