Preliminary Financial Statements For The Interim Period To 30 June 2019

Oslo/Singapore, Epic Gas Ltd. (ticker “EPIC-ME“, “Epic Gas“ or the “Company“), the leading LPG shipping solutions company, today announced its unaudited financial and operating results for the interim period ended June 30, 2019. All amounts reported in US Dollars unless otherwise stated. Variance is second quarter 2019 compared with the same three-month period in 2018, unless otherwise stated.

Q2 2019 Highlights

• Revenue up 11% at $40.6 million

−Calendar days increased 2% to 3,606
−TCE per calendar day increased by 4% to US$9,454
−Fleet Operational Utilisation 90.6%
−Loaded c. 746,366 tonnes, up 1.3%: 75% LPG / 25% Petchems
−673 cargo operations and 115 different ports visited
−Total operating expenses of $4,292 per vessel calendar day, up 4%
−Time chartered-in a modern 9,500cbm LPG vessel to increase fleet capacity by 4.8% to276,900cbm (40 vessels)

• Adjusted EBITDA of $9.8 million, up 1%

• Net loss reduced to $1.6 million, a $0.7 million improvement, or 29%

• $60m capital increase completed to fund future growth

• Net leverage ratio reduced to 40% from 54%

 Cash position increased to $78m

Post Period End
•Fleet expansion by four 11,000cbm vessels (all 2015 built in Japan), with 2-year time charter withleading LPG commodity trading and shipping company on two vessels

Charles Maltby, Chief Executive Officer of Epic Gas, commented:

“The first six months of 2019 have been transformational for Epic Gas, with a successful capital raise, a 21% increase in fleet capacity with the acquisition of four new ships and chartering in of another, and the strategic investment by BW Group. These actions allow us to continue to reinforce the strong platform Epic has developed in recent years and position us well for the expected tightening of global LPG shipping capacity. Our second quarter results are encouraging, with satisfactory progress on revenue and underlying efficiency. We have continued to pay down long-term debt and are exploring the potential to realise further cost efficiencies over the balance of the year.”

Conference call details

A conference call to discuss these results is scheduled for 14 August 2019 at 10:00 AM (New York) /
3:00PM (London) and can be accessed via the following dial-in information.

Participants should dial into the call 10 minutes before the scheduled time using the following numbers:

United States:                                  1 (877) 553 9962

United Kingdom:                             0 (808) 238 0669

Standard International Dial In:    +44 (0) 2071 928 592

Norway:                                            +47 21033201

Singapore:                                        +65 31585482

Hong Kong:                                       +852 5808 5586
Please quote “Epic Gas.”

A telephonic replay of the conference call will be available until Wednesday, August 21st, 2019.
The United States replay number is 1 (866) 331-1332; from the UK 0(808) 238-0667; the standard
international replay number is (+44) (0) 3333 009 785 and the access code required for the replay
is: 7969237#.

Audio Webcast – Slide Presentation

There will be a live and then archived audio webcast of the conference call, via the internet through the Epic Gas website Participants to the live webcast should register on
the website approximately 10 minutes prior to the start of the webcast through the following link:

The slide presentation on the second quarter 2019 financial results will be circulated together with the earnings release and available in PDF format 10 minutes prior to the conference call and
webcast, accessible on the company’s website on the investor relations page.

Participants to the webcast are urged to download the PDF presentation as the conference call will follow the presentation slides.

About Epic Gas Ltd.
Epic Gas owns and operates a fleet of fully pressurised gas carriers providing seaborne services for the transportation of liquefied petroleum gas and petrochemicals. The company controls a fleet of 44 vessels which serve the international supply chains of leading oil majors and commodity traders throughout Asia, Europe, Africa and the Americas. The Company’s shares are traded over the Oslo Stock Exchange under the ticker “EPIC-ME”.

For further information visit our website, or contact:

Epic Gas Ltd.
Uta Urbaniak-Sage,
Chief Financial Officer
T: +65 6230 7801

Media / Investor Relations Advisor

Capital Link, Inc.
Nicolas Bornozis
T: +1-212-661-7566

Montfort Communications
Nick Bastin
M: +44 (0)7931 5000 66
T: +44 (0) 20 3770 7918

Rob Bailhache
M:  +44 (0)7585 704280
T: +44 (0) 20 3770 7908

Please click here to download a full copy of this statement.