Energy SpA

Major Shareholding Notification • Mar 14, 2024

BW Energy: Mandatory Notifications of Trade and Disclosure of Shareholding

BW Energy: Mandatory Notifications of Trade and Disclosure of Shareholding

BW Energy: Mandatory Notifications of Trade and Disclosure of Shareholding

Reference is made to the announcement published by BW Offshore Limited ("BW

Offshore") on 30 March 2023.

BW Offshore has today settled a Total Return Swap ("TRS") agreement with

financial exposure to 260,515 shares in BW Energy Limited ("BW Energy") at NOK

26.57 per share. Following the transaction, BW Offshore holds no financial

instrument with exposure to BW Energy shares.

Please refer to the attached notification of trading for further details.

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 published in accordance with the disclosure requirements in

Regulation EU 596/2014 (MAR) article 19, section 5-12 of the Norwegian

Securities Trading Act, and the Oslo Rule Book II, as well as in accordance with

Section 4-2 of the Norwegian Securities Trading Act.