BW Offshore: Arbitration settlement

03 Apr 2025 08:45 CEST

Arbitration settlement

BW Offshore Limited ("BW Offshore") is pleased to report that, in respect of
arbitration proceedings between, inter alios, Prio Comercializadora Ltda
(previously known as Petro Rio O&G Exploração e Produção de Petróleo Ltda.) (as
Claimant) and Prosafe Production B.V. and BW Offshore do Brasil Serviços
Marítìmos Ltda (as Respondents) conducted in accordance with the Rules of the
London International Court of Arbitration, the parties have, prior to the
issuance of a final award, agreed to fully and finally settle the arbitration
and the costs of the arbitration in accordance with the terms of a confidential
settlement agreement.

The financial impact of the settlement agreement, resulting in a payment of
approximately USD 36 million to BW Offshore, will be recognised in BW Offshore's
accounts.

For further information, please contact:
Ståle Andreassen, CFO, +47 91 71 86 55

IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has
a fleet of 2 FPSOs with potential and ambition to grow. By leveraging four
decades of offshore operations and project execution, the Company creates
tailored offshore energy solutions for evolving markets world-wide. BW Offshore
has around 1,100 employees and is publicly listed on the Oslo stock exchange.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act. This stock exchange release
was published by Eric Stousland, Manager Corporate Finance & Investor Relations,
on 3 April 2025 at 08:45 CEST.

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

More information:
Access the news on Oslo Bors NewsWeb site