BW Energy: Q2 2026 operational update

BW Energy will publish its financial results for the second quarter and first half of 2026 on 30 July 2026. Today, the company provides preliminary operational figures.

Net production attributable to BW Energy was 2.3 million barrels of oil (mmbbls) in the second quarter of 2026, equivalent to 25.3 thousand barrels of oil per day (kbopd), from the Dussafu field in Gabon (73.5% working interest) and the Golfinho field in Brazil (100% working interest).

+---------------------------------------------+----------+----------+----------+ | | | | | | | | | | +---------------------------------------------+----------+----------+----------+ | | Q2 2026 | Q1 2026 | Q2 2025 | +---------------------------------------------+----------+----------+----------+ | Net production (mmbbls) | 2.3 | 2.3 | 2.9 | +---------------------------------------------+----------+----------+----------+ | Dussafu | 1.8 | 1.7 | 2.4 | +---------------------------------------------+----------+----------+----------+ | Golfinho | 0.5 | 0.5 | 0.5 | +---------------------------------------------+----------+----------+----------+ | | | | | | | | | | +---------------------------------------------+----------+----------+----------+ | Net production (kbopd) | 25.3 | 25.2 | 32.3 | +---------------------------------------------+----------+----------+----------+ | Dussafu | 19.3 | 19.2 | 26.6 | +---------------------------------------------+----------+----------+----------+ | Golfinho | 6.0 | 5.9 | 5.7 | +---------------------------------------------+----------+----------+----------+ | | | | | | | | | | +---------------------------------------------+----------+----------+----------+ | Net volume sold (mmbbls) | 3.2 | 2.2 | 2.8 | +---------------------------------------------+----------+----------+----------+ | Dussafu[1] | 2.3 | 1.8 | 2.3 | +---------------------------------------------+----------+----------+----------+ | Golfinho | 0.9 | 0.4 | 0.5 | +---------------------------------------------+----------+----------+----------+ | [1]incl. Domestic market obligations (DMO) | 0.1 | 0.0 | 0.07 | +---------------------------------------------+----------+----------+----------+ | [1]incl. State profit oil | 0.2 | 0.2 | 0.3 | +---------------------------------------------+----------+----------+----------+ | | | | | | | | | | +---------------------------------------------+----------+----------+----------+ | End of quarter stock inventory (mmbbls) | 0.2 | 1.0 | 0.5 | +---------------------------------------------+----------+----------+----------+ | Dussafu | (0.0) | 0.4 | -0.2 | +---------------------------------------------+----------+----------+----------+ | Golfinho | 0.2 | 0.6 | 0.7 | +---------------------------------------------+----------+----------+----------+ | | | | | | | | | | +---------------------------------------------+----------+----------+----------+ | Average realised price (USD/bbl) | 103.5 | 79.0 | 66.7 | +---------------------------------------------+----------+----------+----------+ | Dussafu | 101.2 | 83.1 | 66.2 | +---------------------------------------------+----------+----------+----------+ | Golfinho | 109.0 | 61.0 | 69.1 | +---------------------------------------------+----------+----------+----------+ | | | | | | | | | | +---------------------------------------------+----------+----------+----------+ | Production costs[2] | 24.0 | 22.2 | 20.4 | | (USD/bbl) | | | | +---------------------------------------------+----------+----------+----------+ | Dussafu | 15.6 | 16.0 | 14.3 | +---------------------------------------------+----------+----------+----------+ | Golfinho | 51.1 | 42.4 | 49.0 | +---------------------------------------------+----------+----------+----------+

2) Production costs exclude Royalties, Tariffs, Workovers, Domestic Market Obligation purchases, Production Sharing costs in Gabon, and incorporates the impact of IFRS 16 adjustments.

Reporting

BW Energy will publish its financial results for the second quarter and first half of 2026 on 30 July at 07:00 CEST. Management will host a webcast presentation later the same day at 14:00 CEST, followed by a live Q&A session.

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 over 100 kbopd in 2028.

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