Bermuda, 4 October 2021 – The enclosed statement is made by members of the board of directors (the “Board”) of Avance Gas Holding Ltd (“Avance Gas” or the “Company”) in connection with the mandatory offer (the “Offer”) from Hemen Holding Limited (“Hemen” or the “Offeror”) to acquire all issued shares in the Company (the “Shares”) not already owned by the Offeror against a cash consideration of NOK 43.00 per Share (the “Offer Price”), per the terms and conditions set out in the offer document dated 13 September 2021 (the “Offer Document”).