Awilco LNG ASA – First quarter 2026 results

The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today reports unaudited results for the three months ending March 31, 2026.

HIGHLIGHTS ) • Awilco LNG reports a net loss of USD 6.4 million and loss per share of USD 0.05 in the first quarter of 2026, down from a net loss of USD 4.4 million and of USD 0.03 per share in the fourth quarter of 2025 • Net freight income of USD 6.2 million in first quarter of 2026, compared to USD 6.9 million in fourth quarter of 2025 • EBITDA in first quarter of 2026 ended at USD 0.9 million, down from USD 2.3 million in fourth quarter of 2025 • Vessel utilization was 68% for first quarter of 2026, compared to 100% for fourth quarter of 2025 • Net TCE came in at USD 34,200 per day for first quarter of 2026, compared to USD 37,600 per day for fourth quarter of 2025 • In March the Company entered into an amendment to the financing agreements for WilForce and WilPride whereby the Company has been granted relief in debt amortisation through 2026 and 2027 in exchange for an increased margin from 250 bps to 265 bps and prepayment of USD 10.5 million in total. The financing will resume ordinary amortization and margin in 2028, and the deferred amount will be paid during 2029 and 2030 • In March the Company raised NOK 251.6 million (approx. USD 26 million) in a Private Placement at a subscription price of NOK 3.25 per share. The Private Placement required an Extraordinary General Meeting, completed on March 30, 2026. Capital increase and Share issuance following the Private Placement was done on April 13, 2026 and is not incorporated in the First Quarter 2026 Financial Statements • In March the Company announced that ALNG Trading is established and will be developed as a trading and structuring platform focused on originating and structuring LNG transactions, including solutions around credit, financing and portfolio optimization • Following approval and publication of the Prospectus on May 8, 2026, the Company initiated a Subsequent offering of up to NOK 46.3 million (approx. USD 5 million) at the price of NOK 3.25 per share to secure equal treatment of existing shareholders prior to the Private Placement • In May the Company announced that Anders Onarheim will be proposed to be elected Chairman of the Board of Directors at the upcoming AGM. In addition, Jon Skule Storheill stepped down as CEO and Per Heiberg was appointed Interim CEO pending the appointment of a successor

Per Heiberg, Interim Chief Executive Officer, commented:

“The war in the Middle East completely changed the LNG market in first quarter 2026. The market started the quarter on a weak note, but the outbreak of the war created a significant disturbance in the market. Several vessels are stuck inside the Strait of Hormuz and up to 20% of the world’s LNG production are unable to be transported to its receivers. Initially rates climbed to extreme highs before coming off but they currently are higher than prior to the closure of the Strait of Hormuz. Uncertainty about how long the situation will last persist. For the Company the impact on first quarter results is limited, however one of our vessels has since been fixed on a multi-month charter at improved levels. The successful Private Placement of approximately USD 26 million will enable us to provide funding of our LNG trading initiative, ALNG Trading.”

Note on Alternative performance measures: Alternative performance measures are defined and explained in the APM section of the Quarterly report.

Oslo, May 13, 2026 For further information please contact:

Per Heiberg, Interim CEO / CFO Phone: +47 952 20 264

About Awilco LNG ASA Awilco LNG is a Norwegian based LNG transportation provider, owning and operating LNG vessels intended for international trade. The Company currently own two 2013 built 156,000 cbm TFDE membrane LNG vessels, WilForce and WilPride.