BW Offshore Update on Dividend Shares

Reference is made to the Q2 2022 Presentation released 29 August 2022.

BW Offshore Limited (“BW Offshore”) provides the following key information relating to its cash dividend and dividend in-kind for Q2 2022.

Cash dividend:
Cash dividend amount: USD 0.035 per share

Declared currency: USD

Dividend in-kind:
Type of dividend: Shares in BW Energy Limited (“Dividend Shares”), which will be delivered to the VPS account on which the respective eligible BW Offshore shareholders hold their shares in BW Offshore.

Total value of Dividend Shares: Approximately USD 5,000,000

Price per Dividend Shares: NOK 26.31 (5-days volume weighted average price (VWAP) end of 26 August 2022)

USDNOK: 9.6602 (26 August 2022)

Dividend Shares per BW Offshore share: 0.0102 (rounded downwards to the nearest whole number of Dividend Shares)

Maximum number of Dividend Shares to be distributed: 1,835,978

Date of approval: 28 August 2022

Last day inclusive: 30 August 2022

Ex-date: 31 August 2022

Record date: 1 September 2022

Dividend payment date and delivery of Dividend Shares to shareholders: On or about 8 September 2022

This information is published in accordance with the requirements of the Continuing Obligations.

[email protected]

About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has a fleet of 10 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 2,000 employees and is publicly listed on the Oslo stock exchange.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act