Company Announcements

DISCLOSURE OF SHAREHOLDING

Reference is made to the mandatory offer by BW Group Limited (the "Offeror" or "BW Group") to acquire all outstanding shares ("Shares") in BW Energy Limited ("BW Energy" or the "Company") not already owned by the Offeror at an offer price of NOK 27.00 per share pursuant to the offer document (the "Offer Document") dated 13 December 2023 (the "Offer"), and the announcement of the preliminary results of the Offer published earlier today, 14 January 2024.

During 12 January 2024, being the last day of the offer period in the Offer, BW Group received acceptances for 30,493,614 Shares. In total, BW Group received acceptances of the Offer for 30,861,366 Shares. Following this BW Group holds 134,063,836 Shares in BW Energy, representing approximately 51.96% of the issued share capital and voting rights in the Company.

Please note that the calculation of the number of Shares tendered in the Offer is preliminary and is subject to change until the VPS accounts of the BW Energy shareholders having accepted the Offer, are debited and such Shares having been transferred to a settlement account of DNB Markets, a part of DNB Bank ASA (the "Receiving Agent"). Furthermore, the final result of the Offer is subject to customary verification by the Receiving Agent. The final result of the Offer will be announced once confirmed by the Receiving Agent.

For further information, please contact:

Sebastien Brochet, Group CFO

BW Group Limited

ea.cfo@bw-group.com

This announcement is made in accordance with Section 4-2 of the Norwegian Securities Trading Act.