Reference is made to the announcement 10 March 2023, whereby BW Offshore Limited
("BW Offshore") announced the distribution of 1,697,868 BW Energy Limited shares
as in-kind dividend to eligible BW Offshore shareholders.
Subsequent to the distribution 10 March 2023, BW Offshore will retain
63,874,565 shares, which constitute 24.76% of the total issued capital and
voting rights in BW Energy Limited through direct ownership, downwards crossing
the 25% shareholding threshold.
With reference to stock exchange release dated 07 April 2022, BW Offshore has
indirect exposure to 353 425 shares in BW Energy through a TRS agreement with
expiry date 30 March 2023 and a TRS price of NOK 28.34 per underlying BW Energy
share.
