BW Ideol AS

Share Issue/Capital Change • Mar 15, 2021

BW Ideol: Completion of BW Ideol transactions

BW Ideol: Completion of BW Ideol transactions

Reference is made to stock exchange announcement made by BW Offshore Limited on 17 February 2021 regarding the investment in Ideol S.A. creating BW Ideol AS (the "Transaction").

After obtaining regulatory approval and following satisfaction of other conditions, BW Ideol AS today completed the share purchase agreement and acquired Ideol S.A. The agreed funds have been transferred to the selling shareholders of Ideol S.A. who have sold their shares for cash and BW Ideol AS will issue a total of 5,815,240 shares to the sellers who have elected to contribute their shares in Ideol S.A. for shares in BW Ideol AS, following registration of the share capital increase in the Norwegian Register of Business Enterprises.

Following the above-mentioned completion, BW Ideol holds 100% of the shares outstanding in Ideol S.A.

For further information, please contact:

Nicolas de Kerangal, Chief Finance & Partnerships Officer, +33 (0)7 76 87 70 08

About BW Ideol:

BW Ideol is a leading fully integrated platform in floating offshore wind with more than 10 years of experience from design, execution and development of floating wind projects based on Ideol S.A.'s patented floating offshore wind technology and engineering capabilities. The company has a dual-leg growth strategy as a floater EPCI and maintenance services provider and as a wind-farm project developer and co-owner. BW Ideol has two full-scale offshore floating wind turbines in operation in France and Japan, a significant project pipeline, and is supported by BW Offshore’s extensive experience from developing and operating offshore energy production systems.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Una Holmen, Manager IR, BW Offshore on 15 March at 20.00.