BW Energy: Issuance of shares following exercise of LTIP options

Reference is made to the stock exchange announcement published by BW Energy Limited ("BW Energy" or the "Company") on 29 June 2026 regarding the exercise of options under the Company's Long Term Incentive Program ("LTIP") and the resolutions by the Board of Directors to issue up to 175,000 new shares in the Company to settle the options exercised under the LTIP.

131,528 shares of the total 175,000 new shares have now been validly issued and fully paid. The remaining 43,472 shares are expected to be issued at a later date.

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

Following the issuance, BW Energy will have a total of 5,647,505 outstanding options and 258,400,852 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 over 100 kbopd in 2028.

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