BW Energy

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BW Energy: Issuance of shares following exercise of LTIP options

Reference is made to the stock exchange announcement published by BW Energy on
29 June 2026 regarding the exercise of options under the Company’s Long Term
Incentive Program (LTIP) and the resolution by the Board of Directors to issue
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up to 175,000 new shares in the Company to settle the options exercised under
the LTIP.

64,094 shares of the total 175,000 new shares have now been validly issued and
fully paid. The remaining 110,906 shares are expected to be issued at a later
date.

Following this issuance, BW Energy has a total of 5,855,505 outstanding
options and 258,333,418 validly issued and fully paid 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

[TekBot]

BW Energy: Invitation to second quarter 2026 presentation 30 July

BW Energy will release its second quarter and first half 2026 results on
Thursday, 30 July at 07:00 CEST.

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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 CEST.

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

Viewer Registration • Q2 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 2025 to over 100 kbopd in 2028.

Kilde

[TekBot]

SECOND QUARTER AND FIRST HALF 2026 REPORT

BW Energy delivered strong operational performance in the second quarter and
first half 2026, with all major development projects progressing on schedule
and within budget. The Company also made significant strategic progress,
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sanctioning the Bourdon development and Golfinho infill well projects, and
commencing the MaBoMo Phase 2 drilling campaign. With these projects advancing
as planned, BW Energy remains on track to increase net production to more than
100,000 barrels per day in 2028. Supported by a strong balance sheet and
liquidity position, the Company has a solid foundation for delivering
substantial long-term value for shareholders.

HIGHLIGHTS
(Numbers in parenthesis refer to Q1 2026 unless otherwise specified)

Strong operational performance

• Q2 2026 net production of 25.3 (25.2) kbopd, equal to 2.3 (2.3) million
  barrels (mmbbls)
• Sales of 3.2 (2.2) mmbbls and realised prices of USD 103.5 (79.0)/bbl
• Quarterly production cost1 of USD 24.0 (22.2) per barrel

Advancing organic growth portfolio

• Total project portfolio reached net 2P of 222 mmboe in execution
• Bourdon and Golfinho wells final investment decision (FID) in the second
  quarter added 68 mmboe[2] with IRR at 25 and 50% respectively at USD 60/bbl
  oil price
• Maromba and Golfinho Boost projects progressing according to plan and cost
• MaBoMo Phase 2 campaign - appraisal drilling started

Excellent cash generation and strengthened financial position

• Record-high quarterly operating cash flow of USD 260.1 (outflow of 38.5)
  million
• Q2 2026 EBITDA of USD 140.6 (111.3) million and net profit of USD 43.9
  (32.6) million
• Cash position of USD 254.0 (160.5) million and available liquidity of USD
  544 (333) million at 30 June
• Dussafu RBL accordion of USD 100 million completed in Q2
• H1 EBITDA of USD 251.9 million, net income of USD 76.5 million and operating
  cash flow of USD 221.6 million

2026 guidance unchanged

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

1. Production cost excludes royalties, tariffs, workovers, crude oil purchases
   for domestic market obligations, production sharing costs in Gabon, any
   non-recurring special items, and incorporates the impact of IFRS 16
   adjustments.
2. Management estimate

Comment from the CEO of BW Energy, Carl Arnet:

"BW Energy delivered a strong second quarter of 2026, with all-time-high
operating cash flow and improved profitability, driven by higher oil prices
and sales volumes. Our development projects, which are set to materially
increase production from proven reserves, are progressing according to plan.

We maintain full focus on project execution following the recent sanction of
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. The MaBoMo Phase 2 drilling
programme commenced on schedule in early July and will contribute to increased
production from 2027 with additional upside from ongoing appraisal wells.

With record cash generation in the quarter, we advance our investment
programme backed by a strengthened balance sheet and liquidity position, on
track to increase production to over 100,000 barrels per day in 2028 and
deliver the next phase of value creation for BW Energy shareholders."

PRESENTATION AND MATERIAL

Please find attached the first half 2026 report and presentation. The report,
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 webcast presentation, followed by a Q&A hosted by
CEO Carl K. Arnet, COO Brice Morlot, and CFO Thomas Young at 14:00 CEST.

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

Viewer Registration • Q2 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 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: Agreement for strategic entry into Angola through interests in producing Block 14 and Block 14K

With reference to the announcement made by Etu Energias (Etu) today. See link
further below.

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BW Energy has signed a framework agreement with Etu and Chariot Limited to
support Etu’s 31% interest in Block 14 and 15.5% interest in Block 14K, two
producing deepwater licences offshore Cabinda, Angola. Etu, Angola’s largest
privately owned energy company, has signed a Sale and Purchase Agreement (SPA)
with Chevron for the acquisition. Etu intends to assume operatorship of Block
14, with BW Energy and Chariot providing technical and operational support.
Subject to applicable approvals, consents and contractual requirements.

The transaction marks a strategic entry for BW Energy into a new core area,
aligned with the company’s West Africa growth strategy.

Highlights:

• BW Energy’s support for Etu under the framework agreement gives it economic
  exposure to future cash flows corresponding to production of approximately 8
  kbopd and associated net 2P reserves of approximately 19 mmbbls
• Current gross production from Block 14 and 14K is approximately 42 kbopd and
  producing reserves are 93 mmbbls, of which approximately 13 kbopd and 29
  mmbbls are attributable to the interests Etu is acquiring
• The asset holds material identified upsides from the development of nearby
  reservoirs, suitable for tie-back to existing infrastructure, production
  optimisation as well as operating cost reductions

Carl K. Arnet, CEO of BW Energy, said: “The framework agreement is an
important step towards establishing BW Energy in Angola, one of West Africa’s
premier deepwater provinces. Once completed, this is expected to deliver
production and cash flow with identified upsides. Block 14 is a high-quality
asset with a long production history and several proven undeveloped
discoveries, which BW Energy sees strong potential to put into production.
Angola offers a deep inventory of proven discoveries that can benefit from
focused development and repurposed infrastructure. We look forward to working
with Etu and Chariot on what we see as a strong and complementary partnership,
and to further develop our position in Angola over time.”

BW Energy views the relationship with Etu as important for future value
creation and welcomes Chariot Limited as a trusted partner with shared
ambitions for growth in Angola. The agreement lays the structure for close
collaboration on Block 14 and establishes a foundation that can be
value-accretive across the wider opportunity set in Angola. Over the last
decade, Etu has completed multiple successful transactions in Angola, and BW
Energy is pleased to now be part of that growth.

About Block 14 and Block 14K

Block 14 is a producing deepwater licence offshore Cabinda in water depths of
200 to 1,600 metres. The block has produced more than 900 million barrels of
high-quality, Brent-linked crude since first oil in 1999, with production
having peaked at approximately 200 kbopd. Current gross production is
approximately 42 kbopd of which 95% is from Block 14 and 5% from Block 14K.
The area produces from nine fields, developed through two hub facilities and
supported by active waterflooding and well intervention programmes.

Block 14K is a cross-border unitised development between Angola and the
Republic of Congo, tied back to the Block 14 infrastructure.

Further update and detail will be provided closer to deal completion.

Link to Etu’s press release:

https://etuenergias.co.ao/folder/galeria/ficheiro/71_etuEnergias_aquiresChevronBlocks_65mgxejxxd.pdf

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 considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.

Kilde