BW Energy: Successful placement of new unsecured bonds

07 Jun 2024 14:12 CEST

BW Energy: Successful placement of new unsecured bonds

BW Energy has completed the private placement of USD 100 million of new five-
year senior unsecured bonds with a coupon rate of 10% per annum. The bond
placement met strong investor demand across Nordic and international markets and
was significantly oversubscribed.

Settlement of the bond issue is expected occur on or about 21 June 2024, subject
to customary conditions precedent. An application will be made for the bonds to
be listed on the Oslo Stock Exchange. Net proceeds from the new bond issue will
be used for general corporate purposes.

DNB Markets, part of DNB Bank ASA and Pareto Securities AS acted as Joint
Bookrunners and Fearnley Securities AS and Sparebank1 Markets AS acted as Co-
Managers in the transaction.


For further information, please contact:

Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76 or ir@bwenergy.no
(mailto: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 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 considered inside information pursuant to the EU Market
Abuse Regulation and is subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act. This stock exchange release
was published by N. Saethre, 7. June 2024.

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