Bw Offshore Ltd.

BW Offshore: Arbitration settlement

Arbitration settlement

BW Offshore Limited ("BW Offshore") is pleased to report that, in respect of

arbitration proceedings between, inter alios, Prio Comercializadora Ltda

(previously known as Petro Rio O&G Exploração e Produção de Petróleo Ltda.) (as

Claimant) and Prosafe Production B.V. and BW Offshore do Brasil Serviços

Marítìmos Ltda (as Respondents) conducted in accordance with the Rules of the

London International Court of Arbitration, the parties have, prior to the

issuance of a final award, agreed to fully and finally settle the arbitration

and the costs of the arbitration in accordance with the terms of a confidential

settlement agreement.

The financial impact of the settlement agreement, resulting in a payment of

approximately USD 36 million to BW Offshore, will be recognised in BW Offshore's

accounts.

For further information, please contact:

Ståle Andreassen, CFO, +47 91 71 86 55

[email protected] or www.bwoffshore.com

About BW Offshore:

BW Offshore engineers innovative floating production solutions. The Company has

a fleet of 2 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 1,100 employees and is publicly listed on the Oslo stock exchange.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and subject to the disclosure requirements pursuant to

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

was published by Eric Stousland, Manager Corporate Finance & Investor Relations,

on 3 April 2025 at 08:45 CEST.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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