BW Offshore: Exercise of employee share options

15 Sep 2025 17:03 CEST

Exercise of employee share options

BW Offshore has completed an exercise window under its Long-Term Incentive
Program (LTIP), during which a total of 672,027 options were exercised by
primary insiders. The Company's obligation under the program was settled using
cash. The exercise price is NOK 37.35, corresponding to the five-day volume-
weighted average price (VWAP) from 28 August 2025 to 3 September 2025,
inclusive.

The following primary insiders participated in the exercise window:

* Marco Beenen, Chief Executive Officer, has exercised 306,250 synthetic
options. Following this, Mr. Beenen owns 49,993 shares in the Company and
1,503,122 options.
* Ståle Andreassen, Chief Financial Officer, has exercised 100,625 synthetic
options. Following this, Mr. Andreassen owns 229,273 shares in the Company
and 496,729 options.
* Anders S. Platou, Chief Strategy Officer, has exercised 32,375 synthetic
options. Following this, Mr. Platou holds 295,485 options.
* Michael McAreavey, Chief Technical Officer, has exercised 96,793 synthetic
options. Following this, Mr. McAreavey holds 7,333 RSUs and 131,067 options.
* Mona Rajoo, Chief Commercial Officer, has exercised 49,691 synthetic
options. Following this, Ms. Rajoo owns 1,618 shares in the Company and
holds 7,333 RSUs and 120,996 options.
* Ming Yen Yip, General Counsel, has exercised 86,293 synthetic options.
Following this, Ms. Yip holds 7,333 RSUs and 131,067 options.

Following this settlement, BW Offshore has a total of 207,096 outstanding RSUs
and 4,098,736 synthetic options.

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 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 1,000 employees and is publicly listed on the Oslo stock exchange.

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

655417_2025-09 Form of notification of trade.pdf