BW Energy: Notification of Major Holdings

13 Mar 2023 07:30 CET

Notification of Major Holdings

Reference is made to the announcement 10 March 2023, whereby BW Offshore Limited
("BW Offshore") announced the distribution of 1,697,868 BW Energy Limited shares
as in-kind dividend to eligible BW Offshore shareholders.

Subsequent to the distribution 10 March 2023, BW Offshore will retain
63,874,565 shares, which constitute 24.76% of the total issued capital and
voting rights in BW Energy Limited through direct ownership, downwards crossing
the 25% shareholding threshold.

With reference to stock exchange release dated 07 April 2022, BW Offshore has
indirect exposure to 353 425 shares in BW Energy through a TRS agreement with
expiry date 30 March 2023 and a TRS price of NOK 28.34 per underlying BW Energy
share.

For further information, please contact:
Knut R. Sæthre, CFO BW Energy
+47 91 11 78 76 ir@bwenergy.no


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
main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon, 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 428 million barrels at the start of 2023.


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

More information:
Access the news on Oslo Bors NewsWeb site

584978_Andreas Sohmen Pao notification of trade.pdf
584978_Marco Beenen notification of trade.pdf
584978_Thomas Kolanski notification of trade.pdf
584978_Knut Saethre notification of trade.pdf