Reference is made to the stock exchange announcement published by BW Energy on 8 July 2021 regarding the grant of options under the Company's Long Term Incentive Program ("LTIP").

The Board of Directors has today resolved to issue 203,303 new shares in the Company to settle the options exercised under the LTIP.

The issuance relates to employees of the Company, none of whom are primary insiders.

Following the issuance, BW Energy will have a total of 6,020,400 outstanding options and 258,269,324 issued shares.

For further information, please contact:
Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no

About BW Energy

BW Energy is a fast-growing independent oil and gas company creating value through low-risk, phased developments of proven offshore reservoirs, leveraging existing infrastructure and capital-efficient execution. The company owns and operates production, development and exploration assets in Gabon, Brazil and Namibia. Total net 2P reserves exceed 240 million barrels of oil equivalent, with a further 390 million barrels classified as 2C resources, providing a strong foundation to organically increase production from around 30 kbopd in 2025 to approximately 90 kbopd by 2028.

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