HIGHLIGHTS

  * 1 GW of projects under development and ~2.9 GW of substantiated pipeline

      * Design certification by Bureau Veritas and first steel cut on EolMed
        project
      * Signed MoU with Taiya Renewable Energy in Taiwan, targeting in
        particular a floating demonstration tender expected in mid-2023
      * Confirmation of tender application date for 250 MW South Brittany tender
        by French authorities and progress towards mid-2023 award
      * Pre-selection of the consortium EDF Renewables/Maple Power and launch of
        the competitive dialogue in for the 2 x 250 MW AO6 Mediterranean Tender
      * Signed contract for floating LIDAR deployment on Buchan Offshore Wind
        project
      * Award of feasibility study for floating wind to power a greenfield FPSO
      * Inauguration of the world's first offshore hydrogen production unit
        which will be powered by BW Ideol's Floatgen floating offshore wind
        turbine

  * Focusing on cash discipline

      * Award of EUR 2.7 million subsidies from Ademe (French government owned
        Agency for the Ecological Transition) to fund R&D program
      * Cash position of EUR 11.25 million at end of September supporting growth
        strategy
      * Positive EUR 1.07 million operating cash-flow during Q3 2022

BW Ideol's mission is to create a sustainable future by using floating
technology to unlock the vast potential of offshore wind. The Company is
executing its dual-track strategy as a co-developer of offshore floating wind
projects and as EPCI (engineering, procurement, construction and installation)
contractor of floating wind technology. Progress is reflected in a growing
project pipeline of commercial-scale projects, new cooperation agreements and
participation in tenders for floating offshore wind farm developments.

The global offshore floating wind market is expanding rapidly amid energy supply
concerns and increasing prices. The total project pipeline has more than doubled
in the past 12 months to 185 GW as of October 2022, according to data from
Renewables UK. The growth comes at a time with increased economic uncertainty
due to the Russian invasion of Ukraine, continued supply chain challenges,
higher interest rates and rising inflation.

"We see very strong momentum for floating wind worldwide with new projects
emerging as nations seek solutions that enable transition to clean renewable
power at scale and support long-term sustainable economic growth. BW Ideol is at
the forefront of this development with our unique execution platform as a
leading project co-developer and a proven technology provider," said Paul de la
Guérivière, the CEO of BW Ideol.

FINANCIALS

Revenue for the first nine months of 2022 was EUR 5.1 million from design and
engineering activities and royalties for projects in France, Scotland and Asia.
This compares with EUR 1.5 million of revenue for the same period of 2021.
Operating loss before depreciation and amortisation (EBITDA) for the period was
EUR 2.2 million, a decrease from EUR 5.4 million loss in the same period of
2021, mainly due to an increase in revenue from customers. Operating cashflow in
the third quarter was positive for the first time at EUR 1.07 million due to
disciplined operational management.

At 30 September 2022, total cash was EUR 11.25 million, compared to EUR 32.8
million at 31 December 2021.

BW Ideol expects to raise additional funding during the first semester of 2023
to execute the growing pipeline of projects under development and upcoming
tenders. The Company is currently exploring various options to cover next three
years' financing needs.

In September 2022, BW Ideol and partners were awarded a EUR 2.7 million combined
public grant and reimbursable advance to fund its R&D activities including more
efficient floating foundations to support high power wind turbines (20 MW),
innovative mooring lines and new sensor technology with real-time inspection and
monitoring of floater behaviour and mooring maintenance in all operational
conditions. The award was made under France's DEMO-TASE program, which supports
development of technological building blocks and pre-industrial demonstrators to
accelerate new energy systems.

OPERATIONS

In September, BW Ideol announced a cooperation with Taiya Renewable Energy for
the joint development of a floating offshore wind pipeline off Taiwan, subject
to due diligence and signing of final partnership agreements. The collaboration
initially covers the development of a 50 MW pilot project. BW Ideol will design,
engineer, build and install the floating foundations based on its proven Damping
Pool technology. Subject to the project reaching final investment decision, COD
(commercial operating date) is targeted before the end of 2026, with
construction expected to start as early as 2025. The partnership agreement also
covers the joint development of several commercial-scale projects.

In France, the government progressed the tender process for the 250 MW AO5
floating wind tender with confirmation of the offshore area near coast of South
Brittany in September and the final date of bid-submission set to February
2023. The award is expected in mid-2023. BW Ideol collaborates with EDF
Renewables and Maple Power on the design of floating foundations for the AO5
development.

The same consortium (EDF Renewables and Maple Power) has also been pre-selected
for the 2 X 250 MW AO6 Mediterranean Tender. In August, the competitive dialogue
was launched. BW Ideol collaborates with this consortium on the design of the
floating foundations.

The EolMed project is under construction with the first steel cut for the
floaters in September and the floater design was fully certified by Bureau
Veritas.

In Scotland, the Floating Energy Allyance (FEA), is proceeding with site
investigations and environmental studies in preparation for the consent
application process for the Buchan Offshore Wind project. During the quarter,
the alliance signed the contract for a floating LIDAR deployment to collect wind
data at the site of the planned 960 MW floating offshore wind farm off the
northeast coast of Scotland. FEA is a development partnership comprising BayWa
r.e., Elicio and BW Ideol.

In September, BW Ideol and Centrale Nantes welcomed the launch of the world's
first offshore hydrogen production unit which will be powered by BW Ideol's
Floatgen which has operated successfully off France's west coast since 2018. The
clean hydrogen project is led by Lhyfe and the « Sealhyfe » hydrogen production
facility will, after a phase of dockside tests, be connected to Floatgen. The
pilot site meets all the necessary conditions to validate the offshore hydrogen
production technology before large-scale industrial deployment, aiming first and
foremost at demonstrating the reliability of an electrolyser at sea.

Also, in September, BW Ideol signed a contract for another feasibility study to
power a greenfield FPSO for an undisclosed client after having finalized a first
feasibility study for another Power-to-Platform project, confirming our
leadership in this segment leveraging on BW Offshore.

Since the beginning of operation, the Floatgen floating unit installed offshore
western France has produced 21.5 GWh of electricity with high availability,
reflecting the seakeeping performance of BW Ideol's proprietary Damping Pool
design.

BW Ideol continues strengthen the organisation and prepare for increased
commercial and project activity. A key part of that is also to increase
diversity and improve the gender balance within the Company. On 2 November, BW
Ideol appointed Sophie Fellah as Chief Legal Officer and Cynthia Moutier as
Chief Human Resources Officer. They are both members of the executive management
team which comprises of eight members, two of which are female.

OUTLOOK

BW Ideol aims to be a leading long-term owner of floating wind assets in key
offshore markets worldwide. The primary focus is to continuously progress,
expand and de-risk the Company's project pipeline.

The goal is to be involved in an approximately 10 GW gross portfolio of floating
offshore wind projects by 2030 by developing the existing pipeline and strong
joint venture partnerships, through scaling and optimisation of the patented
Damping Pool® technology, and by developing the global organisation and
leveraging the partnership with BW Offshore. Based on progress to date and the
rapidly growing pipeline of floating wind projects in various stages of
development, the Company considers itself to be ahead of the 2030 plan.

Please find attached the third quarter 2022 presentation.

WEBCAST

The Company will tomorrow hold a webcast and conference call followed by a Q&A
at 09:00 CEST. The webcast will be held in English by CEO Paul de la Guérivière
and CFO Nicolas de Kerangal.

The webcast will be available by following this link:

https://streams.eventcdn.net/bwideol/2022q3/

You can also dial the following numbers:

Norway: +47 23500236

Singapore: +65 64085767

United Kingdom: +44 3333009032

United States: +1 6467224904

Please note that if you follow the webcast via the above URL, you will
experience a 30 second delay compared to the main conference call. The web page
works best in an updated browser - Chrome is recommended.

For further information, please contact:

Nicolas de Kerangal, Chief Financial & Partnerships Officer at BW Ideol, +33 (0)
7 76 87 70 08, ir@bw-ideol.com

About BW Ideol:

BW Ideol is a leading fully integrated platform in floating offshore wind with
more than 12 years of experience from design, execution and development of
floating wind projects based on Ideol S.A.'s patented floating offshore wind
technology and engineering capabilities. The company has a dual-leg growth
strategy as a floater EPCI and maintenance services provider and as a wind farm
project developer and co-owner. BW Ideol has two full-scale offshore floating
wind turbines in operation in France and Japan, a significant project pipeline
including 1GW under development in Scotland and is supported by BW Offshore's
extensive experience from developing and operating offshore energy production
systems.

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