Bw Energy - Mandatory Notifications of Trade and Disclosure of Shareholding

20 Jun 2024 13:30 CEST

BW ENERGY - MANDATORY NOTIFICATIONS OF TRADE AND DISCLOSURE OF SHAREHOLDING

Reference is made to the stock exchange announcement published on 6 May 2024
regarding the planned corporate restructuring of BW Group Limited's ("BW Group")
ownership in BW Energy Limited ("BW Energy") from the maritime business held by
BW Group, and the exemption from mandatory offer obligation granted in
connection therewith.

BW Group has today, as part of the above corporate restructuring, sold all of
its shares in BW Energy to BW Energy Holdings Limited ("BW Energy Holdings")
(the "Transfer"). The Transfer took place at the carrying value of the BW Energy
shares in BW Group's books.

BW Group and BW Energy Holdings are close associates of Andreas Sohmen-Pao,
Chairman of the board of directors of BW Energy. Please refer to the attached
notification of trading for further details.


Disclosure of shareholding:

Following the purchase of 191,903,110 shares in BW Energy, BW Energy Holdings
holds approximately 74.38% of the issued share capital and voting rights in BW
Energy.

Following the sale of all of its 191,903,110 shares in BW Energy, BW Group has
reduced its shareholding from approximately 74.38% to zero and will no longer
own any shares or hold any voting rights in BW Energy.

Sebastien Brochet, Group CFO

BW Group Limited


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.

More information:
Access the news on Oslo Bors NewsWeb site

622050_PDMR Appendix Notification of trade by close associate BWE Holdings.pdf
622050_PDMR Appendix Notification of trade by close associate BW Group.pdf