Bw Energy Ltd. - Capital/Financing Update 2025

BW Energy: Update on Fixed Income Investor Meetings

Update on Fixed Income Investor Meetings

Reference is made to the stock exchange release dated 6 June 2025, regarding

fixed income investor meetings. Following engagement with potential investors,

BW Energy has decided to not proceed with the issue of a USD 300 million

denominated senior unsecured bond. The indicative terms offered under the

current market conditions were unfavourable compared to the other funding

sources available to the Company.

For further information, please contact:

Brice Morlot, CFO BW Energy

+33.7.81.11.41.16

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, a 95% interest in the Maromba field in Brazil, a 95%

interest in the Kudu field in Namibia, all operated by BW Energy. In addition,

BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy

Africa Ltd. and a 20% non-operating interest in the onshore Petroleum

Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and

resources were 599 million barrels of oil equivalent at the start of 2025.

This information is considered inside information pursuant to the EU Market

Abuse Regulation and is subject to the disclosure requirements pursuant to

Section 5-12 the Norwegian Securities Trading Act. This stock exchange release

was published by Regine Andersen, 20 June 2025.

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