BW Energy

[TekBot]

BW Energy: Strategic entry offshore Angola through acquisition of 10% in Block 14 and 5% in Block 14k

BW Energy has in a consortium with Maurel & Prom signed an agreement to acquire
a combined 20% non-operated interest in Block 14 and 10% in Block 14K offshore
Angola from Azule Energy. Within this transaction, BW Energy’s net share will be
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10% in Block 14 and 5% in Block 14K, providing a strategic foothold in Angola
aligned with the Company’s long-term regional growth strategy.

“The entry to Angola is a key step in BW Energy’s West Africa growth strategy
and provides further diversification of our resource base. Firstly, we see clear
upsides beyond the current production in Block 14. And, more importantly, we
build a position for potential future operated development opportunities in the
country,” said Carl K. Arnet, the CEO of BW Energy. “Angola is a mature
hydrocarbon basin with an active M&A market and strong political support for the
energy sector. We see attractive opportunities for BW Energy to apply our
strategy of developing proven reserves and stranded assets through the re-use of
existing energy infrastructure to unlock significant value over time.”

Block 14 is a mature deepwater asset comprising nine producing fields, while
Block 14K is a tie-back to the main block. The asset is operated by Chevron, and
the licence currently runs to 2038. Gross production is approximately 40 kbopd,
with net to BW Energy at 4 kbopd. Current producing reserves are estimated at
9.3 mmbbls net to BW Energy, with several identified opportunities to further
increase recoverable volumes. Abandonment and decommissioning costs are covered
by existing provisions.

The acquisitions are part of a joint transaction with Maurel & Prom, which will
acquire equal ownership interests as BW Energy in the two licences. BW Energy
values Maurel & Prom as a strong and experienced partner in this process.
Completion of the transaction remains subject to regulatory approvals and
customary closing conditions, with closing expected by mid-2026.

The transaction carries a base cash consideration of USD 97.5 million net to BW
Energy. A deposit of USD 6 million is payable immediately, with the balance to
be settled at completion. The final amount will be subject to customary
adjustments reflecting cash flows between the effective date of 1 January 2025
and the closing date.

In addition, contingent payments of up to USD 57.5 million net to BW Energy may
become payable upon the occurrence of specific events, including:

• Brent prices exceeding certain thresholds over the 2026-2028 period
• Achievement of defined production milestones associated with the PKBB
  development

For further information, please contact:
Martin Seland Simensen, VP Investor Relations

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 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, a 95% interest in the Maromba field in Brazil, a 95%
interest in the Kudu field in Namibia, all operated by BW Energy. In addition,
BW Energy holds approximately 7% of the common shares in Reconnaissance Energy
Africa Ltd. and a 20% non-operating interest in the onshore Petroleum
Exploration Licence 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and
resources were 599 million barrels of oil equivalent at the start of 2025.

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

Kilde

[TekBot]

BW Energy: Signs long-term lease for the Maromba drilling and wellhead platform

BW Energy announces that the short-term lease for the Super Gorilla class jack-
up rig BW MAROMBA B signed in September 2025 has been successfully converted
into a long-term project lease agreement with Minsheng Financial Leasing Co.
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Ltd. (MSFL).

The new lease agreement covers the rig purchase and all costs required to bring
the MAROMBA B wellhead platform to drilling and production readiness. This
represents USD 274 million of the previously communicated Maromba CAPEX and
provides an efficient lease financing structure for the project’s development
phase, followed by a ten-year lease term.

The lease will commence upon first oil for the Maromba development, with no
payments due before this point. The lease carries a fixed daily rate of USD
120,500, providing cost predictability throughout the lease period.

“We are pleased to establish an attractive lease financing for the full scope of
the Maromba wellhead platform investment, building on our strong relationship
with MSFL,” said Thomas Young, the CFO of BW Energy. “This agreement further
highlights our ability to consistently leverage repurposed production
infrastructure to enable cost-efficient greenfield developments.”

The rig is currently en route from Singapore to Dubai, with expected arrival
before year-end. At the yard in Dubai, it will be refurbished and converted into
a fully integrated drilling and production platform. The unit’s recent drilling
service in Australia supports an efficient upgrade and refurbishment programme.
When completed, it will mobilise to Brazil and commence drilling and completion
work according to the phased development plan for the Maromba field.

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
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 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, a 95% interest in the Maromba field in Brazil, a 95%
interest in the Kudu field in Namibia, all operated by BW Energy. In addition,
BW Energy holds approximately 7% of the common shares in Reconnaissance Energy
Africa Ltd. and a 20% non-operating interest in the onshore Petroleum
Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and
resources were 599 million barrels of oil equivalent at the start of 2025.

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

Kilde

[TekBot]

BW Energy: Q4 2025 operational update

BW Energy: Q4 2025 operational update

BW Energy will publish its financial results for the fourth quarter of 2025 on
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5 February 2025. Today, the company provides preliminary operational figures.

Net production attributable to BW Energy was 2.3 million barrels of oil (mmbbls)
in the fourth quarter of 2025, equivalent to 25.2 thousand barrels of oil per
day (kbopd), from the Dussafu field in Gabon (73.5% working interest) and the
Golfinho field in Brazil (100% working interest). Production in the quarter was
impacted by a longer-than-expected maintenance period at Golfinho, which was
successfully completed in November. Volumes sold was affected by a late lifting
at Dussafu, occurring after end of quarter.

For the full year 2025, net production to BW Energy amounted to 10.9 mmbbls,
equivalent to 29.9 thousand barrels of oil per day (kbopd), near the lower end
of the guided range of 11-12 mmbbls (30-32 kbopd). Net operational costs for the
full year ended at 20 USD/bbl, in the middle of the guided range of 19-21
USD/bbl.

±-------------------------------------------±--------±--------±--------+
| | | | |
±-------------------------------------------±--------±--------±--------+
| | Q4 2025 | Q3 2025 | Q4 2024 |
±-------------------------------------------±--------±--------±--------+
| Production (mmbbls) | 2.3 | 2.4 | 3.1 |
±-------------------------------------------±--------±--------±--------+
| Dussafu | 2.1 | 1.8 | 2.5 |
±-------------------------------------------±--------±--------±--------+
| Golfinho | 0.3 | 0.6 | 0.6 |
±-------------------------------------------±--------±--------±--------+
| | | | |
±-------------------------------------------±--------±--------±--------+
| Production (kbopd) | 25.2 | 26.3 | 33.6 |
±-------------------------------------------±--------±--------±--------+
| Dussafu | 22.4 | 20.0 | 27.3 |
±-------------------------------------------±--------±--------±--------+
| Golfinho | 2.7 | 6.3 | 6.4 |
±-------------------------------------------±--------±--------±--------+
| | | | |
±-------------------------------------------±--------±--------±--------+
| Net volume sold (mmbbls) | 1.8 | 2.9 | 3.2 |
±-------------------------------------------±--------±--------±--------+
| Dussafu(1) | 1.3 | 2.5 | 2.7 |
±-------------------------------------------±--------±--------±--------+
| Golfinho | 0.5 | 0.5 | 0.5 |
±-------------------------------------------±--------±--------±--------+
| (1)incl. Domestic market obligations (DMO) | 0.16 | 0.29 | 0.10 |
±-------------------------------------------±--------±--------±--------+
| (1)incl. State profit oil | 0.26 | 0.23 | 0.31 |
±-------------------------------------------±--------±--------±--------+
| | | | |
±-------------------------------------------±--------±--------±--------+
| End of quarter stock inventory (mmbbls) | 0.9 | 0.3 | 0.2 |
±-------------------------------------------±--------±--------±--------+
| Dussafu | 0.4 | -0.5 | -0.2 |
±-------------------------------------------±--------±--------±--------+
| Golfinho | 0.5 | 0.8 | 0.4 |
±-------------------------------------------±--------±--------±--------+
| | | | |
±-------------------------------------------±--------±--------±--------+
| Average realised price (USD/bbl) | 62.2 | 68.5 | 72.6 |
±-------------------------------------------±--------±--------±--------+
| Dussafu | 59.8 | 67.7 | 72.5 |
±-------------------------------------------±--------±--------±--------+
| Golfinho | 68.8 | 72.6 | 73.5 |
±-------------------------------------------±--------±--------±--------+
| | | | |
±-------------------------------------------±--------±--------±--------+
| Operational costs(2 )in (USD/bbl) | 21.3 | 22.7 | 18.1 |
±-------------------------------------------±--------±--------±--------+
| Dussafu | 12.5 | 15.7 | 11.7 |
±-------------------------------------------±--------±--------±--------+
| Golfinho | 93.8 | 44.8 | 45.3 |
±-------------------------------------------±--------±--------±--------+

Reporting
The fourth quarter financial results are scheduled to be published on 5 February
at 07:00 CET. Management will host a webcast presentation later the same day at
14:00 CET, followed by a live Q&A session. The webcast will be available at
www.bwenergy.no.

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
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 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, a 95% interest in the Maromba field in Brazil, a 95%
interest in the Kudu field in Namibia, all operated by BW Energy. In addition,
BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy
Africa Ltd. and a 20% non-operating interest in the onshore Petroleum
Exploration Licence 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and
resources were 599 million barrels of oil equivalent at the start of 2025.

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

Kilde

[TekBot]

BW Energy: Invitation to fourth quarter and full-year 2025 results presentation 5 February

BW Energy will release its fourth quarter and full-year 2025 results on
Thursday, 5 February at 07:00 CET.

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A conference call followed by Q&A will be hosted by CEO Carl K. Arnet, CFO
Thomas Young and COO Brice Morlot the same day at 14:00 CET.

You can follow the presentation via webcast with supporting slides and a Q&A
module, available on:

Viewer Registration Q4 2025
(Viewer Registration • Q4 2025)

For further information, please contact:

Martin Seland Simensen, VP Investor Relations

ir@bwenergy.no

About BW Energy:

BW Energy is a growth-focused 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, a 95% interest in the Maromba
field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by
BW Energy. In addition, BW Energy holds approximately 6.96% of the common
shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest
in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total
net 2P+2C reserves and resources were 599 million barrels of oil equivalent at
the start of 2025.

Kilde

[TekBot]

BW ENERGY FOURTH QUARTER AND FULL YEAR 2025 RESULTS

BW Energy delivered strong operational performance in the fourth quarter and
for the full year 2025, reflected in record high annual production,
competitive cost levels and good execution on the development projects, which
…

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are expected to deliver industry-leading organic growth in coming years. In
Brazil, the Maromba development and the Golfinho Boost project progressed to
plan, with the remaining production platform financing milestone completed. In
Gabon, preparations advanced for MaBoMo phase 2 and final investment decision
(FID) on the Bourdon project. Supported by strong cash generation and a
resilient financial structure, BW Energy is well positioned to create
long-term shareholder value.

HIGHLIGHTS
(Numbers in parenthesis refer to Q4 2024 unless otherwise specified)

Strong performance

• Record high full-year production of 30 kbopd and competitive unit OPEX at
  USD 20 per barrel
• Q4 2025 net production of 2.3 (3.1) million barrels (mmbbls), equal to 25.2
  (33.6) kbopd
• Quarterly operating cost[1] of USD 21.3 (18.1) per barrel

Project portfolio on cost and schedule

• Mabomo Phase 2, Maromba and Golfinho Boost projects progressing according to
  plan and within cost
• Bourdon moving towards final investment decision (FID)
• Kudu appraisal well confirmed presence of liquid hydrocarbons, further
  analysis ongoing

Robust financial results

• Full-year 2025 EBITDA of USD 414.2 (2024: 457.4) million and net income of
  133.1 (2024: 165.9) million
• Q4 2025 EBITDA of USD 37.1 (141.6) million and net profit of USD 3.3 (56.0)
  million
• Q4 operating cash flow of USD 63.5 (117.7) million
• Cash position of USD 150.5 (221.8) million at 31 December
• Signed long-term project lease for the Maromba development rig covering USD
  274 million of project capex

2026 guidance

• Production: 25-30 kbopd (9-11 mmbbls)
• Operating cost[1]: USD 20-24 per barrel
• CAPEX: USD 500-600 million
• G&A: USD 12-14 million

1. Operating costs exclude royalties, tariffs, workovers, crude oil purchases
   for domestic market obligations, production sharing costs in Gabon, and
   incorporates the impact of IFRS 16 adjustments

Comment from the CEO of BW Energy, Carl K. Arnet:

"BW Energy delivers another strong year with record production, reduced unit
operating expenses and material progress on our portfolio of development
projects. This reflects disciplined execution of our strategy for long-term
value creation founded on safe, efficient operations, active cost management
and the efficient development of accretive projects across our diversified,
high-value asset base.

The key growth projects in Brazil are progressing well, with the Maromba
well-head platform recently arrived at the yard, commencing the planned
conversion work. In Gabon, we are set to start drilling on MaBoMo phase 2 in
the third quarter with first oil expected later in 2026, and the Bourdon
development is moving towards sanction, further supporting delivery of
industry-leading production growth to around 90,000 barrels per day in 2028.

During the fourth quarter, we completed the Maromba financing with a long-term
lease for the development rig acquisition and refurbishment which ensures a
highly efficient liquidity structure. Combined with strong underlying cash
generation, we are well positioned to deliver continued growth and long term
value for our shareholders."

FINANCIAL UPDATE

Net sold volumes in the quarter were 1.8 mmbbls (including 0.16 mmbbls of DMO
deliveries) (3.2 mmbbls) at an average realised price of USD 62.2/bbl (USD
72.6). Volumes sold were affected by a late lifting at Dussafu, occurring
after end of quarter. Total revenues were USD 123.8 (233.5) million and EBITDA
was USD 37.1 (141.6) million. The decrease in EBITDA was mainly due to the
lower realised prices and less volumes sold. Operating expenses were USD 86.7
(91.9) million, impacted by the extended maintenance activities on Golfinho.

Depreciation was USD 35.9 (57.1) million and operating profit in the quarter
was USD 1.2 million (USD 84.5) million. Net financial expense was USD 5.8
(11.7) million. Taxes resulted in a benefit of USD 7.9 million, compared to a
tax expense of USD 16.8 million in the fourth quarter 2024. Net profit was USD
3.3 million, compared to a profit of USD 56.0 million in the fourth quarter of
2024.

Total equity at 31 December 2025 was USD 1,001 (861.6) million and the equity
ratio was 40% (44%). Total available liquidity at 31 December 2025 amounted to
USD 365.5 (271.8) million, of which USD 150.5 (221.8) million in cash and USD
215.0 (50.0) million undrawn debt across various facilities.

Net cash inflow from operating activities was USD 63.5 (117.7) million in the
quarter, reflecting lower realised oil prices, maintenance and timing of one
lifting. Net cash outflow from investing activities was USD 139.0 (76.6)
million, mainly related to the Maromba development and the Kudu appraisal. Net
cash outflow from financing activities was USD 33.3 (29.1), reflecting net
debt proceeds offset by interest and lease payments.

For the full year 2025, net production to BW Energy amounted to 10.9 mmbbls,
equivalent to 29.9 thousand barrels of oil per day (kbopd), near the lower end
of the guided range of 11-12 mmbbls (30-32 kbopd). Net operational costs for
the full year ended at 20 USD/bbl, in the middle of the guided range of 19-21
USD/bbl. Full-year EBITDA was USD 414.2 (2024: 457.4) million and net income
was USD 133.1 (2024: 165.9) million. The full-year numbers are preliminary and
unaudited.

CORPORATE MATTERS

During the quarter, BW Energy signed a long-term lease agreement for Maromba
drilling and wellhead platform with Minsheng Financial Leasing Co. Ltd.
(MSFL), replacing the earlier short-term agreement. The new lease covers the
rig purchase and all costs required to make the wellhead platform ready for
drilling and production. This funds USD 274 million of the Maromba CAPEX, with
an efficient financing structure for the development phase followed by a
ten-year lease term at a fixed dayrate of USD 120,500 which commence upon
Maromba first oil.

BW Energy also announced a potential strategic entry offshore Angola through
an agreement targeting the acquisition of net 10% non-operated interest in
Block 14 and net 5% in Block 14K from Azule Energy as part of a consortium
with Maurel & Prom. Gross production from the combined blocks today are
approximately 40 kbopd, with a potential net to BW Energy at 4 kbopd. Current
producing reserves are estimated at 9.3 mmbbls net to BW Energy, with several
identified opportunities to further increase recoverable volumes.

The transaction carries a base cash consideration of USD 97.5 million net to
BW Energy, of which USD 6 million was paid in December, with the balance to be
settled at completion. There are additional contingent payments of up to USD
57.5 million upon the occurrence of specific upside events related to oil
price and production milestones. Completion is subject to regulatory
approvals, pre-emption rights and customary closing conditions, with closing
expected by mid-2026.

OPERATIONS

Gabon
Net production from the Dussafu licence averaged 22.4 kbopd, a decrease
compared to the year-ago period due to natural decline and downtime of an ESP
occurring late in the quarter. Dussafu production availability was 99.1%.
Quarterly operating cost amounted to USD 12.5/bbl (USD 11.7/bbl), reflecting
lower production compared to the year-ago period. For full-year 2025,
production averaged 24.4 (2024: 20.4) kbopd and operating cost was USD
12.9/bbl (2024: USD 16.2/bbl).

Brazil
Net production from the Golfinho field averaged 2.7 kbopd, or approximately
0.3 mmbbls for the quarter, down from 0.6 mmbbls in year-earlier period due to
longer-than-expected maintenance period, which was completed in November.
Production availability was 54% in the quarter. Operating cost averaged USD
93.8/bbl (USD 45.3/bbl). The increase reflects the extended maintenance
period. For the full-year 2025, production averaged 5.5 (2024: 7.2) kbopd and
operating cost was USD 51.1/bbl (2024: USD 44.0/bbl).

EXPLORATION AND DEVELOPMENT

In Gabon, execution of the MaBoMo Phase 2 project in the Dussafu licence
progressed towards the planned drilling start in July 2026. The drilling
programme comprises four production wells, with two additional appraisal wells
under consideration. In addition, the Bourdon discovery progressed towards
final investment decision, based on three initial wells and a development
concept aligned with the MaBoMo development.

In Brazil, the Maromba development and the Golfinho Boost project progressed
to plan. The jack-up rig which will be converted to a combined wellhead and
drilling platform is at the yard in Dubai. Initial inspections were completed
and the conversion work has commenced.

In Namibia, the Kharas-1A appraisal well was completed in November, confirming
a working petroleum system with condensate and/or light oil. Further analysis
is ongoing to determine the extent of the system and to characterise reservoir
properties and appraisal options. BW Energy is in the process of establishing
next steps for the licence and preparations for a data room.

PRESENTATION AND MATERIAL

Please find attached the fourth quarter presentation which includes all
financial statements in its appendix. The presentation, excel data book and
webcast are all available on:

www.bwenergy.no/investors/reports-and-presentations

CONFERENCE CALL/WEBCAST

BW Energy will today hold a conference call followed by a Q&A hosted by CEO
Carl K. Arnet, COO Brice Morlot, and CFO Thomas Young at 14:00 CET.

You can follow the presentation via webcast and enter questions digitally
through:
Viewer registration Q4 2025:

Viewer Registration • Q4 2025

To call in and ask questions live, please use the following link to register
and receive a dial-in number:

https://event.loopup.com/SelfRegistration/registration.aspx?booking=uiJfECkr8KHb5rua0tbTwAyqwRYSwwdCTu6j3TZDpKA=&b=2389e96d-457b-46a8-bebb-fec356d5b031

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
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 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, a 95% interest in the Maromba field in
Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW
Energy. In addition, BW Energy holds approximately 6.96% of the common shares
in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the
onshore Petroleum Exploration Licence 73 (“PEL 73”) in Namibia. Total net
2P+2C reserves and resources were 599 million barrels of oil equivalent at the
start of 2025.

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

Kilde

[TekBot]

BW Energy: Update on Angola transaction

BW Energy today provides an update regarding its previously announced
agreement to acquire interests in offshore Block 14 and Block 14K in Angola.

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BW Energy and its partner Maurel & Prom have been notified that one of the
existing joint venture partners in Block 14 and Block 14K has indicated its
intention to exercise its pre-emption rights in relation to the transaction.

The agreement entered into between BW Energy, Maurel & Prom and Azule Energy
remains effective until the execution of a new sale and purchase agreement
between Azule Energy and the party exercising the pre-emption right.

BW Energy remains committed to its strategy of establishing a presence in
Angola as part of its broader West Africa growth ambitions, and continues to
evaluate opportunities in the country and the wider region.

Further updates will be provided as appropriate.

For further information, please contact:
Martin Seland Simensen, VP Investor Relations

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 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, a 95% interest in the Maromba field in
Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW
Energy. In addition, BW Energy holds approximately 6.96% of the common shares
in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the
onshore Petroleum Exploration Licence 73 (“PEL 73”) in Namibia. Total net
2P+2C reserves and resources were 599 million barrels of oil equivalent at the
start of 2025.

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

Kilde

[TekBot]

BW Energy: Annual report 2025

BW Energy today published its annual report for the financial year ended 31
December 2025. BW Energy also published the Board-approved report on payments
to governments and the annual statement of reserves for 2025. Please find the
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reports attached.

The reports are also available at:
www.bwenergy.no/investors/reports-and-presentations

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
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 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, a 95% interest in the Maromba field in
Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW
Energy. In addition, BW Energy holds approximately 7% of the common shares in
Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the
onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net
2P+2C reserves and resources were 633 million barrels of oil equivalent at the
start of 2026.

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

Kilde

[TekBot]

Financial calendar

Financial calendar for BW Energy Limited

FINANCIAL YEAR 2026
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30.07.2026 - Half-yearly Report
11.05.2026 - Annual General Meeting

20.05.2026 - Quarterly Report - Q1
29.10.2026 - Quarterly Report - Q3

This information is published pursuant to the requirements set out in the Continuing obligations.

Kilde

[TekBot]

Finansiell kalender

Finansiell kalender for BW Energy Limited

REGNSKAPSÅR 2026
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30.07.2026 - Halvårsrapport
11.05.2026 - Ordinær generalforsamling

20.05.2026 - Kvartalsrapport - Q1
29.10.2026 - Kvartalsrapport - Q3

Denne informasjonen offentliggjøres i henhold til kravene i Løpende forpliktelser.

Kilde

[TekBot]

BW Energy: Issuance of shares following exercise of LTIP options

Reference is made to the stock exchange announcement published by BW Energy on
8 July 2021 regarding the grant of options under the Company’s Long Term
Incentive Program (“LTIP”).
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The Board of Directors has today resolved to issue 203,303 new shares in the
Company to settle the options exercised under the LTIP.

The issuance relates to employees of the Company, none of whom are primary
insiders.

Following the issuance, BW Energy will have a total of 6,020,400 outstanding
options and 258,269,324 issued shares.

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no

About BW Energy

BW Energy is a fast-growing independent oil and gas company creating value
through low-risk, phased developments of proven offshore reservoirs,
leveraging existing infrastructure and capital-efficient execution. The
company owns and operates production, development and exploration assets in
Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of
oil equivalent, with a further 390 million barrels classified as 2C resources,
providing a strong foundation to organically increase production from around
30 kbopd in 2025 to approximately 90 kbopd by 2028.

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

Kilde

[TekBot]

BW Energy: Sale and leaseback agreement for the Jasmine Alpha rig

BW Energy has signed a sale and leaseback agreement with Minsheng Financial
Leasing Co., Ltd. (“MSFL”) for the Jasmine Alpha jack up drilling rig. BW
Energy will receive an USD 80 million cash consideration, strengthening
…

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financial flexibility while maintaining continued access to the unit.

Under the agreement, BW Energy has entered into a 12 month lease of the rig,
with an option to extend for a further 12 months. The Company expects to
recognise an equity gain above the carrying value of the rig, reflecting the
value increase since the acquisition of the rig at a favourable price during
the Covid-19 pandemic in 2020.

“We are realising substantial value from an asset acquired at a deep discount
while maintaining operational availability and full strategic flexibility,
including the potential future repurposing into a production platform for
deployment in our development portfolio,” said Thomas Young, the CFO of BW
Energy. “The transaction strengthens BW Energy’s balance sheet and
demonstrates our ability to repeatedly execute flexible and competitive
infrastructure financing solutions in support of our plan to triple production
in 2028.”

The agreement builds on BW Energy’s established partnership with MSFL,
including the ongoing financing of the Maromba B wellhead platform. The terms
of the new arrangement align with the Company’s existing infrastructure
financing strategy.

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no

About BW Energy

BW Energy is a fast-growing independent oil and gas company creating value
through low-risk, phased developments of proven offshore reservoirs,
leveraging existing infrastructure and capital-efficient execution. The
company owns and operates production, development and exploration assets in
Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of
oil equivalent, with a further 390 million barrels classified as 2C resources,
providing a strong foundation to organically increase production from around
30 kbopd in 2025 to approximately 90 kbopd by 2028.

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

Kilde

[TekBot]

BW Energy secures 25 year extension of Dussafu licence offshore Gabon

BW Energy is pleased to announce that the Company has agreed a 25 year
extension of the Dussafu Marin production licence offshore Gabon. Following an
agreement with the Ministry of Oil and Gas of the Gabonese Republic, the
…

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licence period has been extended from 2028 to 2053.

The extended licence provides long term visibility for production,
investments, and reserve development at BW Energy’s core producing asset. It
supports the continued execution of ongoing projects at Dussafu, including
MaBoMo Phase 2 and the planned Bourdon development. The new timeline also
strengthens the foundation for future infrastructure led growth opportunities
across the adjacent Niosi and Guduma licences, both operated by BW Energy.

“The extension is an important milestone for BW Energy and reflects our strong
partnership with the Gabonese authorities. It provides a robust long term
framework for continued investment and production growth across the Dussafu
area,” said Carl K. Arnet, CEO of BW Energy. “We remain committed to
responsible resource development and to contributing to sustainable economic
activity and long term value creation in Gabon.”

BW Energy operates the Dussafu Marin licence and holds a 73.5% working
interest.

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no

About BW Energy

BW Energy is a fast-growing independent oil and gas company creating value
through low-risk, phased developments of proven offshore reservoirs,
leveraging existing infrastructure and capital-efficient execution. The
company owns and operates production, development and exploration assets in
Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of
oil equivalent, with a further 390 million barrels classified as 2C resources,
providing a strong foundation to organically increase production from around
30 kbopd in 2025 to approximately 90 kbopd by 2028.

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

Kilde

[TekBot]

BW Energy: Q1 2026 operational update

BW Energy will publish its financial results for the first quarter of 2026 on
20 May 2026. Today, the company provides preliminary operational figures.

…

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Net production attributable to BW Energy was 2.3 million barrels of oil
(mmbbls) in the first quarter of 2026, equivalent to 25.2 thousand barrels of
oil per day (kbopd), from the Dussafu field in Gabon (73.5% working interest)
and the Golfinho field in Brazil (100% working interest).

In March the company successfully completed a workover of a well to replace an
electrical submersible pump on Dussafu, which had impacted production since
December.

±--------------------------------------------±---------±---------±---------+
| | | | |
| | | | |
±--------------------------------------------±---------±---------±---------+
| | Q1 2026 | Q4 2025 | Q1 2025 |
±--------------------------------------------±---------±---------±---------+
| Net production (mmbbls) | 2.3 | 2.3 | 3.2 |
±--------------------------------------------±---------±---------±---------+
| Dussafu | 1.7 | 2.1 | 2.6 |
±--------------------------------------------±---------±---------±---------+
| Golfinho | 0.5 | 0.3 | 0.7 |
±--------------------------------------------±---------±---------±---------+
| | | | |
| | | | |
±--------------------------------------------±---------±---------±---------+
| Net production (kbopd) | 25.2 | 25.2 | 36.0 |
±--------------------------------------------±---------±---------±---------+
| Dussafu | 19.2 | 22.4 | 28.7 |
±--------------------------------------------±---------±---------±---------+
| Golfinho | 5.9 | 2.7 | 7.3 |
±--------------------------------------------±---------±---------±---------+
| | | | |
| | | | |
±--------------------------------------------±---------±---------±---------+
| Net volume sold (mmbbls) | 2.2 | 1.8 | 3.7 |
±--------------------------------------------±---------±---------±---------+
| Dussafu[1] | 1.8 | 1.3 | 3.2 |
±--------------------------------------------±---------±---------±---------+
| Golfinho | 0.4 | 0.5 | 0.5 |
±--------------------------------------------±---------±---------±---------+
| [1]incl. Domestic market obligations (DMO) | 0.0 | 0.16 | 0.07 |
±--------------------------------------------±---------±---------±---------+
| [1]incl. State profit oil | 0.21 | 0.26 | 0.32 |
±--------------------------------------------±---------±---------±---------+
| | | | |
| | | | |
±--------------------------------------------±---------±---------±---------+
| End of quarter stock inventory (mmbbls) | 1.0 | 0.9 | 0.2 |
±--------------------------------------------±---------±---------±---------+
| Dussafu | 0.4 | 0.4 | -0.4 |
±--------------------------------------------±---------±---------±---------+
| Golfinho | 0.6 | 0.5 | 0.6 |
±--------------------------------------------±---------±---------±---------+
| | | | |
| | | | |
±--------------------------------------------±---------±---------±---------+
| Average realised price (USD/bbl) | 79.0 | 62.2 | 74.8 |
±--------------------------------------------±---------±---------±---------+
| Dussafu | 83.1 | 59.8 | 74.8 |
±--------------------------------------------±---------±---------±---------+
| Golfinho | 61.0 | 68.8 | 75.0 |
±--------------------------------------------±---------±---------±---------+
| | | | |
| | | | |
±--------------------------------------------±---------±---------±---------+
| Operational costs2 (USD/bbl) | 22.2 | 21.3 | 16.5 |
±--------------------------------------------±---------±---------±---------+
| Dussafu | 16.0 | 12.5 | 9.9 |
±--------------------------------------------±---------±---------±---------+
| Golfinho | 42.4 | 93.8 | 42.2 |
±--------------------------------------------±---------±---------±---------+

Reporting

The first quarter financial results accompanied by a strategy update are
scheduled to be published on 20 May at 07:00 CEST. Management will hold an
in-person presentation followed by Q&A at Hotel Continental in Oslo, Norway,
on the same day at 09:30 CEST. The presentation can also be followed via
webcast at www.bwenergy.no.

For further information, please contact:

Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no

About BW Energy:

BW Energy is a fast-growing independent oil and gas company creating value
through low-risk, phased developments of proven offshore reservoirs,
leveraging existing infrastructure and capital-efficient execution. The
company owns and operates production, development and exploration assets in
Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of
oil equivalent, with a further 390 million barrels classified as 2C resources,
providing a strong foundation to organically increase production from around
30 kbopd in 2025 to approximately 90 kbopd by 2028.

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

Kilde

[TekBot]

BW Energy: 2026 Annual General Meeting Notice

Notice is hereby given that the 2026 Annual General Meeting of the Members of
BW Energy Limited (the “Company”) will be held at 18 Rebecca Road,
Southampton, SN04, Bermuda, on 11 May 2026 at 14:00 ADT.
…

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Please see the attached documents in relation to the Annual General Meeting:

1. Chairman’s Letter
2. Notice of the 2026 AGM
3. Form of Proxy
4. Recommendation from the Nomination Committee

For further information, please contact:

Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no

About BW Energy:

BW Energy is a fast-growing independent oil and gas company creating value
through low-risk, phased developments of proven offshore reservoirs,
leveraging existing infrastructure and capital-efficient execution. The
company owns and operates production, development and exploration assets in
Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of
oil equivalent, with a further 390 million barrels classified as 2C resources,
providing a strong foundation to organically increase production from around
30 kbopd in 2026 to approximately 90 kbopd by 2028.

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

Kilde

[TekBot]

BW Energy: Annual General Meeting 2026 Minutes

The Annual General Meeting 2026 of BW Energy Limited was held 11 May. Please
see the attached document for the minutes of the meeting.

…

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With reference to the AGM 2026 minutes, BW Energy is pleased to announce that
Mr. Carl K. Arnet has been elected as a member of the Board of Directors.

Carl K. Arnet

Carl Krogh Arnet is currently the Chief Executive Officer of BW Energy, a
position he has held since 2019. He brings more than 40 years of experience in
the oil and gas industry to the Board.

Prior to joining BW Energy, Mr. Arnet was CEO of BW Offshore and Managing
Director of Advanced Production and Loading (APL). He has also held various
positions at Norsk Hydro (Statoil Hydro) and Conoco UK.

Mr. Arnet holds an M.Sc. from the Norwegian University of Science and
Technology (NTNU) and an MBA from the Norwegian School of Management (BI).

For further information, please contact:

Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no

About BW Energy:

BW Energy is a fast-growing independent oil and gas company creating value
through low-risk, phased developments of proven offshore reservoirs,
leveraging existing infrastructure and capital-efficient execution. The
company owns and operates production, development and exploration assets in
Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of
oil equivalent, with a further 390 million barrels classified as 2C resources,
providing a strong foundation to organically increase production from around
30 kbopd in 2026 to approximately 90 kbopd by 2028.

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

Kilde

[TekBot]

BW Energy: Invitation to first quarter 2026 and strategy update 20 May

BW Energy will release its first quarter 2026 results and strategy update on
Wednesday, 20 May at 07:00 CEST.

…

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The Company will hold a presentation followed by Q&A at Hotel Continental in
Oslo, Norway, on the same day at 09:30 CEST. The presentation will include a
full update of the company strategy, assets and development portfolio. It will
be hosted by CEO Carl K. Arnet, COO Brice Morlot, CFO Thomas Young and CTO
Jerome Bertheau.

You can follow the presentation via webcast with supporting slides and a Q&A
module, available on:

Viewer Registration Q1 2026
(Viewer Registration • Q1 2026)

For further information, please contact:

Martin Seland Simensen, VP Investor Relations

ir@bwenergy.no

About BW Energy:

BW Energy is a fast-growing independent oil and gas company creating value
through low-risk, phased developments of proven offshore reservoirs,
leveraging existing infrastructure and capital-efficient execution. The
company owns and operates production, development and exploration assets in
Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of
oil equivalent, with a further 390 million barrels classified as 2C resources,
providing a strong foundation to organically increase production from around
30 kbopd in 2026 to approximately 90 kbopd by 2028.

Kilde

[TekBot]

FID on Bourdon and Golfinho wells raising 2028 production target to over 100 kbopd

BW Energy has made final investment decision for the Bourdon development in
the Dussafu license offshore Gabon and a campaign of new infill wells in the
Golfinho license offshore Brazil. The combined total 2P reserves estimate is
…

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68 million barrels of oil equivalents.

The two sanctioned projects reflect the Company’s growth strategy based on
infrastructure-led phased developments, minimising capital at risk and
delivering high returns. Combined they increase BW Energy’s net production
target by approximately 10% to more than 100,000 barrels of oil per day in
2028, and contribute to the company sustaining that production level into the
next decade.

Bourdon Phase 1 highlights

• 25 mmboe in gross 2P reserves
• Of which ~100% oil
• Targeted first oil in Q1 2028
• Capital-efficient design with conversion of the Akoum rig (former Jasmine
  Alpha) to a new wellhead platform with a 12-slot wellbay
• Initial production from three wells, and capacity for future phases with
  additional potential of ~200 mmboe oil in place near Bourdon
• Net CAPEX of USD 300 million, with pre-first-oil spend of USD ~100 million
  supported by recent sale-and-leaseback agreement with Minsheng
• Term sheet signed for long-term lease, expected to cover 100% of wellhead
  platform CAPEX before first oil
• Internal rate of return (IRR) above 25% at USD 60 per barrel and breakeven
  at USD 45 per barrel at 10% discount rate
• Partners: BW Energy (operator, 73.5% working interest), Panoro (17.5%
  interest) and Gabon Oil Company (GOC) (9.0% interest)

New Golfinho wells highlights

• 50 mmboe in 2P reserves
• Of which 42% oil and 58% gas
• Targeted first oil end-2028
• 4 new wells (3 in Golfinho license, 1 in Camarupim license) in proven
  locations, to be tied back Golfinho FPSO and leveraging existing gas export
  pipeline from FPSO to shore
• Set to triple production from Golfinho area to ~30 kboped from 2029
• Net CAPEX of USD 450 million, of which USD 170 million committed to
  long-lead items and USD 280 million with optionality on timing of spend up
  to 6 months ahead of first oil
• Low development cost of USD ~9 per barrel enabled by existing infrastructure
• Internal rate of return above 50% at USD 60 per barrel and breakeven at USD
  40 per barrel at 10% discount rate
• BW Energy operator with 100% working interest

“These two projects add highly profitable production in licenses with proven
reserves and multiple growth opportunities. Through the repurposing of
existing energy assets and a phased approach, BW Energy has optimised the
development solutions supported by low-cost infrastructure-backed financing.
This yields high return-projects, increasing our net production to above 100
kbopd in 2028 and positioning us to sustain this level into the next decade,”
said Carl K. Arnet, CEO of BW Energy.

Further details on the developments will be provided at the first quarter 2026
earnings and strategy update presentation at Hotel Continental in Oslo,
Norway, today at 09:30 CEST.

You can follow the presentation via webcast and enter questions digitally
through:

Viewer registration Q1 2026:

Viewer Registration • Q1 2026

To call in and ask questions live, please use the following link to register
and receive a dial-in number:

https://event.loopup.com/SelfRegistration/registration.aspx?booking=uiJfECkr8KHb5rua0tbTwAyqwRYSwwdCTu6j3TZDpKA=&b=2389e96d-457b-46a8-bebb-fec356d5b031

For further information, please contact:

Martin Seland Simensen, VP Investor Relations

ir@bwenergy.no

About BW Energy:

BW Energy is a fast-growing independent oil and gas company creating value
through low-risk, phased developments of proven offshore reservoirs,
leveraging existing infrastructure and capital-efficient execution. The
company owns and operates production, development and exploration assets in
Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of
oil equivalent, with a further 390 million barrels classified as 2C resources,
providing a strong foundation to organically increase production from around
30 kbopd in 2025 to over 100 kbopd in 2028.

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

Kilde

[TekBot]

FIRST QUARTER 2026 AND STRATEGY UPDATE

BW Energy delivered solid operational performance in the first quarter of
2026, advancing all major development projects on plan and cost. The start to
the year has been marked by significant strategic progress, with final
…

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investment decision made on the Bourdon development and the Golfinho infill
wells project. Combined with an extension of the highly prospective Dussafu
Marin production licence and continued progress on the MaBoMo Phase 2, Maromba
and Golfinho Boost developments, BW Energy is on track to increase net
production to over 100,000 barrels per day in 2028 and create substantial
long-term shareholder value.

HIGHLIGHTS
(Numbers in parenthesis refer to Q4 2025 unless otherwise specified)

Solid operational performance

• Q1 2026 net production of 25.2 (25.2) kbopd, equal to 2.3 (2.3) million
  barrels (mmbbls)
• Quarterly production cost[1] of USD 22.2 (21.3) per barrel
• Dussafu ESP successfully restored in March after impacting production since
  December 2025

Delivering on growth strategy

• Bourdon final investment decision (FID) of 18 million barrels[2] in net 2P
  reserves
• Golfinho infill wells FID adding 50 million barrels of net 2P reserves
• MaBoMo Phase 2 set to start with appraisal drilling – first oil moved to Q1
  2027
• Dussafu Marin production licence extended 20 years to 2048 with option for 5
  more years
• Maromba and Golfinho Boost projects progressing on plan and cost

Robust financial results

• Q1 2026 EBITDA of USD 111.3 (37.1) million and net profit of USD 32.6 (3.3)
  million
• Q1 operating cash outflow of USD 38.5 (inflow of 63.5) million
• Cash position of USD 160.5 (150.5) million at 31 March
• Short-term sale and leaseback of Akoum (former Jasmine Alpha) freeing up USD
  80 million of liquidity
• Dussafu RBL accordion of USD 100 million, fully committed by existing
  lenders, to be in place and effective from Q2 2026

2026 guidance updated

• Production: 24-27 kbopd (8.8-9.9 mmboe)
• Production cost[1]: USD 22-26 per barrel
• CAPEX: USD 600-650 million
• G&A: USD 12-14 million

Comment from the CEO of BW Energy, Carl K. Arnet:

"BW Energy has had a solid start to 2026 with stable production, efficient
operations and good cost control, resulting in a strong financial performance
in the first quarter amid increased market volatility driven by geopolitical
events. Our development projects, which are set to materially increase
production from proven reserves, are progressing according to plan.

Furthermore, after the quarter-end, we sanctioned the Bourdon development in
Gabon and the Golfinho infill wells programme in Brazil - two high-return
projects built on the same infrastructure-led model that has defined BW Energy
since inception. We also secured a 20-year extension of the Dussafu production
licence to 2048, providing a robust framework for continued investment and
production growth in Gabon.

With these milestones in place, we are raising our 2028 production forecast to
over 100,000 barrels per day. The projects driving industry-leading production
growth are all sanctioned, financed and in execution, providing a clear path
to delivering the next phase of cash flow generation and value creation for BW
Energy shareholders."

PRESENTATION AND MATERIAL

Please find attached the first quarter 2026 update and presentation which
includes all financial statements. The presentation, financial update, excel
data book and webcast are all available on:

www.bwenergy.no/investors/reports-and-presentations

CONFERENCE CALL/WEBCAST

BW Energy will today hold a presentation and webcast at Hotel Continental in
Oslo, Norway, followed by a Q&A hosted by CEO Carl K. Arnet, COO Brice Morlot,
and CFO Thomas Young at 09:30 CEST.

You can follow the presentation via webcast and enter questions digitally
through:
Viewer registration Q1 2026:

Viewer Registration • Q1 2026

To call in and ask questions live, please use the following link to register
and receive a dial-in number:

https://event.loopup.com/SelfRegistration/registration.aspx?booking=uiJfECkr8KHb5rua0tbTwAyqwRYSwwdCTu6j3TZDpKA=&b=2389e96d-457b-46a8-bebb-fec356d5b031

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no

About BW Energy:
BW Energy is a fast-growing independent oil and gas company creating value
through low-risk, phased developments of proven offshore reservoirs,
leveraging existing infrastructure and capital-efficient execution. The
company owns and operates production, development and exploration assets in
Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of
oil equivalent, with a further 390 million barrels classified as 2C resources,
providing a strong foundation to organically increase production from around
30 kbopd in 2025 to over 100 kbopd in 2028.

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

Kilde

[TekBot]

BW Energy: Issuance of shares following exercise of LTIP options

Reference is made to the stock exchange announcement published by BW Energy
Limited (“BW Energy” or the “Company”) on 8 July 2021 regarding the grant of
options under the Company’s Long Term Incentive Program (“LTIP”).
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The Board of Directors has today resolved to issue 175,000 new shares in the
Company to settle the options exercised under the LTIP.

The issuance relates to employees of the Company, none of whom are primary
insiders.

Following the issuance, BW Energy will have a total of 5,796,295 outstanding
options and 258,444,324 issued shares.

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no

About BW Energy:
BW Energy is a fast-growing independent oil and gas company creating value
through low-risk, phased developments of proven offshore reservoirs,
leveraging existing infrastructure and capital-efficient execution. The
company owns and operates production, development and exploration assets in
Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of
oil equivalent, with a further 390 million barrels classified as 2C resources,
providing a strong foundation to organically increase production from around
30 kbopd in 2025 to over 100 kbopd in 2028.

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

Kilde