BW Energy: Appointment of Chief Financial Officer

BW Energy: Appointment of Chief Financial Officer

BW Energy Limited has appointed Brice Morlot as Chief Financial Officer (CFO) effective from 30 June 2024. Mr. Morlot succeeds Knut R. Sæthre, who has been the CFO of BW Energy since 2019, contributing significantly to the company's financial stewardship and strategic direction.

Mr. Morlot brings extensive experience to the Company, combining a solid financial understanding with an operational background in the E&P business. Most recently, serving as Managing Director of Assala Energy in Gabon, and before that, from other leadership roles in Assala, SCOR and Perenco. He will be based in BW Energy’s office in Lisbon Portugal. Mr. Morlot will undergo a transitional period working closely with Mr. Sæthre to ensure a seamless handover.

"We look forward to Brice joining the BW Energy team as we deliver on our strategy for growth and value creation with producing fields and highly attractive development assets in Gabon, Brazil and Namibia,” said Carl K. Arnet, the CEO of BW Energy.

Reflecting on Mr. Sæthre's tenure, CEO Carl K. Arnet further commented; "I have had the privilege of collaborating with Knut for close to 20 years across several businesses from APL, via BW Offshore and now most recently at BW Energy. His period as CFO has been marked by exemplary financial acumen and leadership. His contributions have been pivotal in positioning BW Energy for sustained success.”

Mr. Sæthre expressed gratitude for his time with BW Energy, stating; "It has been a rewarding experience to be part of the journey, and I am immensely proud of our collective achievements. I have full confidence in Mr. Morlot's ability to excel in his new role, given his extensive business knowledge."

For further inquiries, please contact:

Carl K. Arnet CEO, BW Energy Limited Phone: +47 907 56 570

About BW Energy:

BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company's assets are 73.5% of the producing

Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block in, a 95% interest in the Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW Energy. Total net 2P+2C reserves and resources were 580 million barrels of oil equivalents at the start of 2024.

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