Q4 2025 Earnings Presentation BW LPG Kristian Sørensen and Samantha Xu 3 March 2026 Disclaimer and forward-looking statements NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR IN TO ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. BY ATTENDING THE MEETING WHERE THIS PRESENTATION IS MADE, OR BY READING THE PRESENTATION SLIDES, YOU ACKNOWLEDGE AND AGREE TO COMPLY WITH THE FOLLOWING RESTRICTIONS. This presentation has been produced by BW LPG Limit ...

Exhibit 99.2 BW LPG Limited Interim Financial Report (Unaudited) Q4 2025 and FY 2025 FORWARD-LOOKING STATEMENTS (continued) BW LPG Limited Interim Financial Report (Unaudited) Q4 2025 and FY 2025 FORWARD-LOOKING STATEMENTS In this unaudited interim financial report, "the Company" or "BW LPG" refers to BW LPG Limited. "The Group" refers to BW LPG Limited together with its consolidated subsidiaries. Matters discussed in this unaudited interim financial report may constitute "forward-looking statements". The P ...

Core Viewpoint - BW LPG Limited has announced a cash dividend of US$0.57 per share for Q4 2025, which reflects the company's ongoing commitment to returning value to its shareholders [1] Dividend Information - The Board approved the dividend on 2 March 2026 [1] - For shares registered with Euronext VPS, the dividend per share is NOK 5.4297 [1] - The record date for the dividend is set for 13 March 2026 [1]

Core Viewpoint - BW LPG Limited, the owner and operator of the world's largest fleet of Very Large Gas Carriers (VLGCs), will publish its Q4 2025 Financial Report on March 3, 2026 [1] Financial Reporting - The financial report will be released at approximately 07:00 CET / 01:00 EST / 14:00 SGT [1] - An Earnings Presentation will be hosted by CEO Kristian Sørensen and Samanth in connection with the financial results [1]

Group 1 - BW LPG Limited has secured three-year time charter-out contracts for two Very Large Gas Carriers (VLGCs), BW Tucana and BW Yushi, which commenced in January 2026 [1] - The fixed-rate time charter-out coverage has increased to approximately 35% of the fleet capacity, with an average rate of about USD 43,500 per day for 2026 [1] - The CEO of BW LPG expressed satisfaction with the new contracts, aligning with the strategy to increase coverage to approximately 40% of fleet capacity through period charters and/or FFAs [1] Group 2 - BW LPG operates a fleet of over 50 VLGCs, including 22 vessels powered by LPG dual-fuel propulsion technology, and has over five decades of LPG shipping experience [1] - The company has an in-house LPG trading division and commercial expertise to explore investments in value chain assets, enhancing its service reliability for LPG sourcing and delivery [1] - BW LPG is associated with BW Group, which controls a fleet of over 450 vessels and has investments in various sectors, including renewables [1]

SINGAPORE--(BUSINESS WIRE)--As a company registered in Singapore and listed on the Euronext Oslo Børs ("OSE†) and the New York Stock Exchange ("NYSE†), BW LPG Limited ("BW LPG†or the "Company†, OSE ticker code: "BWLPG†, NYSE ticker code: "BWLP†) is by default, subject to Singapore, U.S. and Norwegian take-over rules. The Company has been granted a waiver from the Singapore Code on Take-overs and Mergers (the "Singapore Code") and accordingly, the Company is currently subject to both U.S. and N. ...

Core Viewpoint - BW LPG Limited (BWLP) is recommended as a buy due to its leading position as the largest owner/operator of Very Large Gas Carriers (VLGCs), attractive dividend yield, and a fleet renewal program that will enhance its operational capabilities [1] Company Analysis - BW LPG Limited holds the largest ownership and operational capacity in the VLGC sector, which positions the company favorably in the market [1] - The company offers a very attractive dividend yield, making it an appealing investment option for income-focused investors [1] - A fleet renewal program is in place, which is expected to confirm and strengthen the company's market position and operational efficiency [1]

Core Insights - The LPG shipping market is increasingly influenced by global energy and petrochemical flows rather than short-term freight volatility [2] - BW LPG is the largest owner-operator in the VLGC sector, while Dorian LPG operates solely in this sector with 27 vessels [2] - Navigator Gas has the world's largest fleet of handysize liquefied gas carriers, operating 57 semi- or fully-refrigerated vessels [3] U.S. Production and Global Use - LPG production is expected to grow by 25-32% by 2030, driven by the gassy nature of maturing shale basins like the Permian [4] - LPG is gaining traction as a marine fuel, with companies adopting dual-fuel propulsion for new vessels [4] - The consolidation of naphtha-based petrochemical capacity in Europe is positive, as replacement capacity in Asia is more LPG-intensive, increasing ton-mile demand [4] Capital Discipline - Dividends are highlighted as the primary method for returning value to shareholders, with a stronger market response to dividends compared to buybacks [5] - Dorian LPG increased its quarterly cash dividend to $0.07/share from $0.05/share and raised the net income payout percentage to 30% from 25% [5] - Navigator Gas has repurchased an additional $50 million of shares for three consecutive years, with plans for continued share repurchases in 2026 [5] Fleet Supply, Regulation, and Environmental Transition - The VLGC sector has a 25% orderbook to fleet ratio, but strong demand growth and an aging fleet provide balance [6] - Navigator Gas has a benign orderbook of about 10%, with potential negative fleet growth due to scrapping of older vessels [6] - The impending ban on scrubber discharges is accelerating a shift towards alternative fuels [6] Environmental Strategies - BW LPG is shifting its fleet composition towards LPG dual fuels, while Navigator Gas is also building dual-fuel vessels [7] - The focus is moving away from scrubbers, with investments in scrubbers exceeding internal calculations, indicating a future in alternative fuels [7]

Core Viewpoint - BW LPG Limited has released its financial calendar for the years 2025 and 2026, outlining key reporting dates for quarterly and annual financial results [1]. Financial Year 2025 - The quarterly report for Q4 will be released on March 3, 2026 [1]. - The annual report for the financial year 2025 is scheduled for March 31, 2026 [1]. Financial Year 2026 - The annual general meeting is set for May 28, 2026 [1]. - The quarterly report for Q1 will be published on June 2, 2026 [1]. - The half-yearly report is expected on August 28, 2026 [1]. - The quarterly report for Q3 will be available on November 24, 2026 [1].

Core Viewpoint - BW LPG Limited has announced key information regarding its cash dividend for Q3 2025, with shares trading ex-dividend on the Oslo Stock Exchange from today and on the New York Stock Exchange starting 12 December 2025 [1]. Company Overview - BW LPG is recognized as the world's leading owner and operator of LPG vessels, indicating a strong position in the liquefied petroleum gas shipping industry [1].