Energy SpA

BW Energy: Successful placement of new unsecured bonds

BW Energy has completed the private placement of USD 100 million of new five-

year senior unsecured bonds with a coupon rate of 10% per annum. The bond

placement met strong investor demand across Nordic and international markets and

was significantly oversubscribed.

Settlement of the bond issue is expected occur on or about 21 June 2024, subject

to customary conditions precedent. An application will be made for the bonds to

be listed on the Oslo Stock Exchange. Net proceeds from the new bond issue will

be used for general corporate purposes.

DNB Markets, part of DNB Bank ASA and Pareto Securities AS acted as Joint

Bookrunners and Fearnley Securities AS and Sparebank1 Markets AS acted as Co-

Managers in the transaction.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76 or [email protected]

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 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 N. Saethre, 7. June 2024.

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