Energy SpA - Major Shareholding Notification 2021

BW Energy: Mandatory notification of trades and disclosure of changes in significant shareholding

Mandatory notification of trades and disclosure of changes in significant

shareholding

Reference is made to the stock exchange notices published on 28 October 2021

regarding the completion of a block sale of existing shares in BW Energy Limited

(the "Company") by BW Offshore Limited (the "Seller").

Please see attached forms for further details relating to the Seller's sale of

20 000 000 shares in the Company, BW Group Limited's purchase of 5 961 142

shares and Carl K Arnet's purchase of 71 428 shares in the Company as part of

the transaction. By the sale, the Seller reduced its shareholding from 35.2% to

27.46% and did thereby fall below the disclosable threshold of 33.33%.

For further information, please contact:

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

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 were 242 million barrels at the start of 2021.

This information is subject disclosure requirements pursuant to sections 4-2 and

5-12 of the Norwegian Securities Trading Act.

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