| Summary of financial statements of investment in subsidiaries with material non-controlling interests |
| | | | | | | | | | | BW LPG India | | BW Product Services | | | 30 June | | 31 December | | 30 June | | 31 December | | | 2026 | | 2025 | | 2026 | | 2025 | | | US$’000 | | US$’000 | | US$’000 | | US$’000 | Assets | | | | | | | | | Current assets | | 99,018 | | 52,901 | | 576,600 | | 283,465 | Includes | | | | | | | | | Cash and cash equivalents | | 43,727 | | 30,821 | | 116,446 | | 39,917 | Non-current assets | | 343,054 | | 355,533 | | 96,381 | | 114,202 | | | | | | | | | | Liabilities | | | | | | | | | Current liabilities | | 33,963 | | 45,446 | | 506,725 | | 282,646 | Includes | | | | | | | | | Borrowings | | 27,953 | | 28,268 | | 189,018 | | 100,649 | Non-current liabilities (Borrowings) | | 166,974 | | 180,217 | | 47,430 | | 62,512 | Net assets | | 241,135 | | 182,771 | | 118,826 | | 52,509 |
| | | | | | | | | | | BW LPG India | | BW Product Services | | | Q2 2026 | | Q2 2025 | | Q2 2026 | | Q2 2025 | | | US$’000 | | US$’000 | | US$’000 | | US$,000 | | | | | | | | | | TCE income – Shipping | | 68,410 | | 30,734 | | — | | — | Revenue from Product Services | | — | | — | | 680,649 | | 821,927 | Cost of cargo and delivery expenses | | — | | — | | (683,480) | | (796,674) | Vessel operating expense | | (7,180) | | (4,982) | | — | | — | Charter hire expense | | (463) | | — | | — | | — | Depreciation and amortisation | | (9,167) | | (7,519) | | (15,250) | | (10,428) | Finance expense – net | | (2,695) | | (958) | | (340) | | 621 | Other expenses – net | | (54) | | (951) | | (20,199) | | (6,391) | Income tax expense | | 937 | | (474) | | 7,764 | | (3,434) | Net profit after tax | | 49,788 | | 15,850 | | (30,856) | | 5,621 | | | | | | | | | | Other comprehensive (loss)/income (currency translation effects) | | — | | — | | (16) | | 85 | Total comprehensive income | | 49,788 | | 15,850 | | (30,872) | | 5,706 | Total comprehensive income/(loss) allocated to non-controlling interests | | 23,699 | | 7,545 | | (5,906) | | 997 |
| | | | | | | | | | | BW LPG India | | BW Product Services | | | H1 2026 | | H1 2025 | | H1 2026 | | H1 2025 | | | US$’000 | | US$’000 | | US$’000 | | US$,000 | TCE income – Shipping | | 97,649 | | 62,417 | | — | | — | Revenue from Product Services | | — | | — | | 1,270,878 | | 1,442,609 | Cost of cargo and delivery expenses | | — | | — | | (1,131,542) | | (1,410,093) | Vessel operating expense | | (12,759) | | (9,855) | | — | | — | Charter hire expense | | (1,773) | | — | | — | | — | Depreciation and amortisation | | (17,403) | | (15,837) | | (30,620) | | (21,328) | Gain on disposal of vessels | | — | | 32,051 | | — | | — | Finance expense – net | | (5,384) | | (2,298) | | (453) | | 544 | Other expenses – net | | (2,448) | | (2,527) | | (25,107) | | (15,013) | Income tax expense | | 897 | | (547) | | (16,127) | | (3,551) | Net profit after tax | | 58,779 | | 63,404 | | 67,029 | | (6,832) | | | | | | | | | | Other comprehensive income (currency translation effects) | | — | | — | | (710) | | 1,281 | Total comprehensive income/(loss) | | 58,779 | | 63,404 | | 66,319 | | (5,551) | Total comprehensive income/(loss) allocated to non-controlling interests | | 27,979 | | 30,180 | | 12,739 | | (939) |
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