BW Energy announces changes to the Executive Management team

17 Sep 2025 07:30 CEST

BW Energy announces changes to the Executive Management team

BW Energy appoints Brice Morlot as Chief Operating Officer and Thomas Young as
Chief Financial Officer.

Mr. Morlot joined BW Energy in 2024 as the Company's CFO. He has extensive
experience, combining financial expertise and a strong operational background in
the E&P sector. Mr. Morlot succeeds Lin Espey, who stepped down as COO in July.

Mr. Young, previously the Chief Strategy Officer, has been part of the company
since inception and overseen the development of BW Energy's growth strategy. He
has played a key role in the company's financing activities, leveraging a wide
range of strategy, economics and corporate finance competencies.

"The appointments reflect our strategy to promote from within and build on
existing strengths. Brice and Thomas have contributed significantly to BW
Energy's development, and I am very confident they will continue to do so in
their new roles as we execute our plan to increase production to ~90,000 barrels
per day in 2028," said Carl K. Arnet, the CEO of BW Energy. "I would also like
to thank Lin Espey for his leadership and dedication. He has been instrumental
in taking the company to where it is today, and I wish him the best in his
future endeavours."

For further information, please contact:
Martin Seland Simensen, VP Investor Relations

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 7% 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.

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