Bw Energy Ltd.

Proxy Solicitation & Information Statement • May 2, 2025

BW Energy Limited

(the "Company")

FORM OF PROXY FOR THE 2025 ANNUAL GENERAL MEETING

I/We (insert name) …………………………………………………...………….…………... (block letters) the holder(s) of (insert number of shares) ……………………………….………….……… common shares in the Company hereby appoint: (insert name)……………………………………………….………….., failing whom the duly appointed chair of the meeting, as my/our proxy to vote on my/our behalf at the Annual General Meeting to be held at 14:00 AST on 26 May 2025 and at any postponement or adjournment thereof as indicated below in respect of the resolutions set out herein or, in the absence of any such indication or in respect of any other matter that may properly come before the Annual General Meeting, as my/our proxy shall vote or abstain as he/she thinks fit.

I/We desire my/our votes to be cast on the resolutions to be proposed at the Annual General Meeting of the members (as set out in the Notice of Annual General Meeting dated 2 May 2025 (the "Notice") as indicated below:

	RESOLUTION	FOR	AGAINST	ABSTAIN
1.	To determine that the number of Directors of the Company shall be up to eight.
2.	To re-elect the following Directors as set out below:
	a. Mr. Andreas Sohmen-Pao (Chair) (for 1 year)	__	__	__
	b. Mr. William Russell Scheirman II (for 1 year)	__	__	__
	c. Ms. Hilde Drønen (for 1 year)	__	__	__
	d. Ms. Ana Lucia Pocas Zambelli (for 1 year)	__	__	__
	e. Mr. Darrell McKenna (for 1 year)	__	__	__
	f. Mr. Alan Dowokpor (for 1 year)	__	__	__
3.	To appoint Ms. Alicia Yik as a member of the Nomination Committee.
4.	To appoint Ms. Elaine Yew Wen Suen as the Chair of the Nomination Committee.
5.	To approve the annual fees payable to the Directors and Committee members as reflected in paragraph 6 of the Notice.
6.	To approve the re-appointment of KPMG AS as Auditor of the Company to hold office until the conclusion of the next annual general meeting and to authorise the Directors to determine their remuneration.

Signature: ............................................................................... Date: ……………………………….

BW Energy Limited

c/o Inchona Services Limited, Washington Mall Phase 2, 4th Floor, Suite 400, 22 Church Street, HM 1189, Hamilton, Pembroke, HM EX, Bermuda Tel: (441) 295-3770 Fax: (441) 295-3801 www.bwenergy.no

Notes:

• 1. To be valid this Form of Proxy must be received by DNB Bank ASA, Registrars Department, Oslo, Norway not later than 10:00 a.m. CEST on 22 May 2025. The mailing address of DNB Bank ASA is: DNB Bank ASA, Registrars Dept., P.O. Box 1600 Sentrum, 0021 Oslo, Norway. Alternatively, this Form of Proxy can be sent to DNB Bank ASA by e-mail to vote@dnb.no not later than the aforementioned date and time.
• 1. If it is desired to appoint by proxy any person other than the Chair of the Annual General Meeting, his/her name should be inserted in the relevant place, reference to the Chair deleted and the alteration initialled.
• 1. If properly executed, the shares issued in the capital of the Company represented by this Form of Proxy (the "Shares") will be voted in the manner directed by the member on this Form of Proxy. The proxy holder shall also have discretion to vote the Shares for or against any amendments to motions duly made at the Annual General Meeting or any postponement or adjournment thereof. If no direction is given, the Shares will be voted in favour of the resolutions as recommended by the Board of Directors (including amendments thereto approved by the Board of Directors) when duly presented at the Annual General Meeting or any postponement or adjournment thereof. The proxy holder shall have discretion to vote the Shares on any other matters as may otherwise properly come before the Annual General Meeting or any postponement or adjournment thereof.
• 1. This Form of Proxy must be signed and dated by the member or the member's attorney authorised in writing. If signed pursuant to a power of attorney or other authority, such power of attorney or authority under which it is signed, or a notarially certified copy, must be deposited with this Form of Proxy in accordance with Note 1 hereof.
• 1. Proxies are entitled to vote on a poll or on a show of hands.
• 1. Members shall place an "X" in the box indicating the way in which their vote is to be cast.
• 1. If the member is a corporation, this Form of Proxy should be signed either by a duly authorised officer or attorney (in accordance with Note 4 hereof) or be completed under its common seal.
• 1. If a member wishes to vote for or against the appointment or re-appointment of one or more of the directors, he/she should place an "X" indicating those directors he/she is voting for or against, as the case may be, in the appropriate space.
• 1. Any alterations to this Form of Proxy should be initialled by the member.
• 1. The completion and return of this Form of Proxy will not preclude a member from attending the Annual General Meeting and voting in person.