Bw Lpg Limited · OSL:BWLPG
Bw Lpg — Pareto Energy Conference 2025
9 slides from Bw Lpg's conference presentation, Sep 11, 2025
Slide 1: Pareto Energy Conference 2025
Pareto Energy Conference 2025 BW LPG Kristian Sørensen 11 September 2025
Slide 2: Disclaimer and forward-looking statements
Disclaimer and forward-looking statements NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR No representation, warranty or undertaking, express or implied, is made by BW LPG, its Neither this presentation nor anything contained herein shall form the basis of, or be relied IN PART
Slide 3: A world leader in the LPG shipping and commodity markets
A world leader in the LPG shipping and commodity markets World’s leading owner Maximise Main priorities for and operator of VLGCs shareholder return capital allocation 75% $0.50 Dividend per Dividend 8 Of earnings paid distribution 52 TC-in out in dividends1 share 1H 20252 Total owned and 29 operate
Slide 4: Supply-driven market reshapes trade dynamics - Far East remains a key destination for LPG
Supply-driven market reshapes trade dynamics - Far East remains a key destination for LPG LPG trade dynamics Europe LPG priced to clear Houston Flushing LPG always finds a US Gulf Middle East Asia home as a by-product Houston Chiba Ras Tanura Chiba Three main drivers for India LPG shipping demand 1
Slide 5: Inefficiencies in the LPG trade flows are absorbing substantial shipping capacity
Inefficiencies in the LPG trade flows are absorbing substantial shipping capacity 1 2 3 Reshuffling of The Panama Canal is USTR - reduce LPG supply chain once again becoming number of VLGCs US LPG export (VLGC only) a bottleneck... calling at US ports TCE spot rates Mn t/week | US-Far East «Liberati
Slide 6: Looking ahead - LPG exports continue to grow
Looking ahead - LPG exports continue to grow N. America LPG exports Permian basin growth points to strong LPG production Mt (VLGC only) Excerpt from Targa Resources Investor Presentation August 2025 68 65 57 60 52 2023 2024 2025F 2026F 2027F N. American terminal expansion plans Mtpa ONEOK 12 AltaGas
Slide 7: Looking ahead - LPG exports continue to grow
Looking ahead - LPG exports continue to grow Middle East LPG exports Middle East natural gas fields and Mt (VLGC only) 47 natural gas processing projects 45 40 41 38 Increased LPG exports from Qatar 2026/2027 Jafurah project North Field expected to gradually increase LPG exports 2023 2024 2025F 2026
Slide 8: What to expect the next 12 months
What to expect the next 12 months Strong US export Limited Inefficiencies from and production orderbook the Panama Canal volumes and USTR ~$119M Maximize revenue Asset prices remain Evaluate future generation from at elevated levels technologies current fleet
Slide 9: Contact us
Contact us Investor Relations investor.relations@bwlpg.com Ticker Oslo Stock Exchange “BWLPG” New York Stock Exchange “BWLP” LinkedIn linkedin.com/company/bwlpg Website https://investor.bwlpg.com Telephone +65 6705 5588 Address 10 Pasir Panjang Road Mapletree Business City #17-02 Singapore 117438