BW Energy: Mandatory Notifications of Trade and Disclosure of Shareholding

13 March 2024, Oslo – Reference is made to the announcement published by BW Offshore Limited (“BW Offshore”) on 30 March 2023.

BW Offshore has today partially settled a Total Return Swap (“TRS”) agreement with financial exposure to 92,910 shares in BW Energy Limited (“BW Energy”) at NOK 26.65 per share. Following the transaction, BW Offshore holds TRS agreements with underlying exposure to 260,515 BW Energy shares with expiry date 5 April 2024.

Please refer to the attached notification of trading for further details.

About BW Energy:

BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block in, a 95% interest in the Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW Energy. Total net 2P+2C reserves and resources were 580 million barrels of oil equivalents at the start of 2024.

This information is published in accordance with the disclosure requirements in Regulation EU 596/2014 (MAR) article 19, section 5-12 of the Norwegian Securities Trading Act, and the Oslo Rule Book II, as well as in accordance with Section 4-2 of the Norwegian Securities Trading Act.

2024-03-13 Notification of trade by close associate – BW Offshore Limited