Speculation related to the acquisition of Golfinho

Speculation related to the acquisition of Golfinho

BW Energy notes the press speculation regarding the possibility of the Group making an acquisition for the Golfinho field in Brazil, which Petrobras has in their divestment program.

BW Energy is continuously looking at opportunities to acquire assets in line with the Group's stated strategy. There is no guarantee that the Group will complete any such process.

Specifically, the Group has made no formal decision to acquire any of the assets currently being marketed by Petrobras.

For further information, please contact:

Knut R. Sæthre, CFO, +47 911 17 876

ir@bwenergy.no or www.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 FPSOs to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon and a 95% interest in the Maromba field in Brazil, both operated by the Company. Total net 2P+2C reserves were 242 million barrels at the start of 2021.

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