BW Energy: Mandatory Notification of Trade - Exercise of existing Restricted Share Units (RSUs)

14 Mar 2025 21:00 CET

Mandatory Notification of Trade - Exercise of existing Restricted Share Units
(RSUs)

Under BW Energy Limited's ("BW Energy" or the "Company") Long Term Incentive
Program (LTIP), 71,721 RSUs from the prior years' grants have been vested and
exercised. In accordance with the terms and conditions of the RSUs, the Board of
Directors has decided to settle the RSUs by issuing shares to the RSU holders.
Each RSU gives a right to acquire one share in the Company at a subscription
price equal to the nominal value of the shares, being USD 0.01.

The settlement of RSUs and the total number of RSUs, options and shares held by
the relevant primary insiders following the exercise are as set out below:

* Carl K. Arnet, Chief Executive Officer has exercised 43,167 RSUs and
received 43,167 shares. Following this, Mr. Arnet controls 3,959,177 shares
in the Company and holds 0 RSUs and 2,800,000 options.
* Thomas Kolanski, Chief Commercial Officer has exercised 14,277 RSUs and
received 14,277 shares. Following this, Mr. Kolanski controls 15,150 shares
in the Company and holds 0 RSUs and 596,500 options.
* Thomas Young, Chief Strategy Officer has exercised 14,277 RSUs and received
14,277 shares. Following this, Mr. Young controls 52,162 shares in the
Company and holds 0 RSUs and 596,500 options.

Following this settlement, BW Energy has a total of 0 outstanding RSUs and
5,820,400 options.

For further information, please contact:

Brice Morlot, CFO BW Energy, 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, a 95% interest in the Maromba field in Brazil, and 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 License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and
resources were 580 million barrels of oil equivalent at the start of 2024.

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

641365_BWE PDMR Carl K Arnet.pdf
641365_BWE PDMR Thomas Kolanski.pdf
641365_BWE PDMR Thomas Young.pdf