The 34-year-old holed eight birdies and an eagle to finish on 11 under, with Italy's Francesco Molinari moving up to second after a four-under 68.
Like Dodt, though, Grace found his form after making the turn, starting the back nine with four birdies in five holes, and he would have held a share of the lead if not for a fourth bogey of the round at 16.
"I've played patient and sensible golf and approached it a bit like a major - playing away from certain pins, taking irons off some tees".
He said he took plenty of encouragement from 37-year-old Spaniard Sergio Garcia's breakthrough major victory at last month's U.S. Masters. I wasn't thinking much about the deficit.
"I putted probably the best I've ever putted", he said.
Bayern Munich sign former West Brom loanee Serge Gnabry
Bayern chairman Karl-Heinz Rummenigge added: 'We're happy that in Serge Gnabry, another young Germany global has come to Bayern'. Initially at the Stuttgart academy, Gnabry shifted to Arsenal in 2011 and spent five seasons with the Gunners.
And that was essentially that for Lowry as his challenge faded, and then cemented by his self-described "brain-fart" at the 17th - his second double bogey in three holes.
With Noren in the clubhouse two hours ahead of the leaders the weather turned and Dodt was one of several players in the final groups to find the going tough. "My putting was probably the best it's ever been and I thought after the birdie on 12: 'It's going very well.' For me it was four days of nearly flawless weather and it helped me today".
"But we always get great support here and the fans got their money's worth because they got to see a lot of my shots", he joked.
The former Robert May's pupil made an eagle at the last hole on day two to make the cut.
He was a country mile behind overnight leader Andrew Dodt at the start of play and finished nearly two hours before the other contenders completed their round. "I'm getting a bit closer to some feels that resonate with me".
"I've just got a little bit exhausted. Just got to try to do what I've been doing the last three days and if I can do that, I can give myself a chance".
The Swede entered the final round at Wentworth's West Course at one-under, but had an awesome performance that featured eight birdies, zero bogeys, and this eagle on 18 that gave him the lead.
"It is something that brought attention to a lot of guys out there who maybe didn't know about that rule, but now they know", he said after posting a seven-under aggregate of 209 on Saturday.
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