BW LPG Limited: Management Share Option Plan "LTIP 2022" - Award and Exercise of Share Options

On March 3, 2026, BW LPG Limited (OSE: BWLPG.OL, NYSE: BWLP) announced the final award of share options under its Long-Term Management Share Option Plan ("LTIP 2022"), launched on March 1, 2022. The Board of Directors approved the issuance of 506,631 share options to senior management and select employees, coinciding with the release of the company's quarterly report for Q4 2025. This strategic allocation is part of BW LPG’s ongoing effort to motivate and retain key personnel by aligning their interests with shareholder value.

On March 4, 2026, several primary insiders opted to exercise their vested share options. The options exercised were settled through the transfer of treasury shares, resulting in the company holding a total of 7,467,396 treasury shares. Notable exercises include Chief Executive Officer Kristian Sorensen, who granted 220,647 new options and exercised 220,647 options at strike prices of NOK 32.192 and NOK 85.907, respectively. Chief Financial Officer Samantha Xu received 85,000 granted options, while others, like Chief Operations Officer Prodyut Banerjee and Chief Technical Officer Knut-Helge Knutsen, each received options totaling 50,812, with all options granted in 2023 exercised at the NOK 32.192 strike price.

BW LPG operates one of the world's largest fleets of Very Large Gas Carriers (VLGCs), emphasizing sustainability with LPG dual-fuel propulsion technology. Backed by BW Group, the company is recognized for expertise in LPG shipping and trading, enhancing energy delivery globally. For further details, stakeholders can reach out to CFO Samantha Xu via email at investor.relations@bwlpg.com. More information is available on the company's website at www.bwlpg.com.

**Market Analysis and Advice on BW LPG Limited's LTIP 2022**

BW LPG Limited is positioned as a key player in the LPG shipping sector, boasting the largest fleet of Very Large Gas Carriers (VLGCs). The recent approval of share options under the management’s Long-Term Incentive Plan (LTIP 2022) marks a significant element of BW LPG’s strategic approach to aligning executive performance with shareholder interests. As the final annual award under this five-year plan, the issuance of 506,631 options suggests a commitment to fostering a results-driven culture within the company.

The recent exercise of share options by top management, including key executives like the CEO and CFO, highlights confidence among leadership in the company's future direction and financial health. The exercised options at varying strike prices, notably NOK 32.192 and NOK 85.907, reflect a strategic execution that aligns well with current market conditions and expectations.

Investors might view these developments in light of several factors. With the ongoing global transition towards cleaner energy, BW LPG's robust fleet and operational capabilities position it favorably. Its strategic partnerships stemming from its affiliation with BW Group could further enhance its competitive advantage in the market.

As BW LPG continues to advance in the LPG segment while exploring sustainability and innovation, there might be a visible impact on investor sentiment, particularly concerning share performance. The company's decision to settle exercised options through treasury shares minimizes dilution effects and indicates prudent capital management.

Considering these dynamics, investors should watch for quarterly earnings movements, competitor actions, and regulatory shifts within the energy sector. For those looking at BW LPG as a long-term investment, the sustained commitment to incentivizing management performance through share options is a positive signal. However, investors should remain cautious and conduct thorough assessments of market conditions and company-specific updates before making investment decisions.