Energy SpA — Director's Dealing 2020

Mar 3, 2020

BW ENERGY LIMITED: Mandatory notification of trade

BW ENERGY LIMITED: Mandatory notification of trade

Knut Sæthre, CFO of BW Energy, has entered into a Total Return Swap ("TRS") agreement with financial exposure to 10,202 shares in BW Energy Limited (“BWE”). Expiry date for the TRS agreement is 31 August 2020, and the TRS price is NOK 17,62 per share. Mr. Sæthre holds 107,473 shares in BWE.

Marco Beenen, member of the Board of Directors in BW Energy, has entered into a Total Return Swap ("TRS") agreement with financial exposure to 10,202 shares in BW Energy Limited (“BWE”). Expiry date for the TRS agreement is 31 August 2020, and the TRS price is NOK 17,62 per share. Mr. Beenen holds 28,950 shares in BWE.

For further information, please contact:

Knut Sæthre, CFO BW Energy, +47 91 11 78 76

ir@bwenergy.no

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 FPSOs to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon and a 95% interest in the Maromba field in Brazil, both operated by the Company. Total net 2P+2C reserves are 247 million barrels at the start of 2020 and gross average production from Dussafu was 11,779 bbl/day in 2019.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.