BW Energy: Update on Fixed Income Investor Meetings  

20 Jun 2025 09:15 CEST

Update on Fixed Income Investor Meetings

Reference is made to the stock exchange release dated 6 June 2025, regarding
fixed income investor meetings. Following engagement with potential investors,
BW Energy has decided to not proceed with the issue of a USD 300 million
denominated senior unsecured bond. The indicative terms offered under the
current market conditions were unfavourable compared to the other funding
sources available to the Company.

For further information, please contact:
Brice Morlot, CFO BW Energy
+33.7.81.11.41.16
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, 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 599 million barrels of oil equivalent at the start of 2025.

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 Regine Andersen, 20 June 2025.

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