USD 297,400,000 Senior Unsecured Convertible Bonds due 2024

Notice to Bondholders

BW Offshore Limited USD 297,400,000 Senior Unsecured Convertible Bonds due 2024 (the “Bonds”)
(ISIN: NO0010867948)

Capitalised terms not otherwise defined herein shall have the meanings given to them in the terms and conditions of the Bonds (the “Bond Terms”).

In accordance with the Bond Terms, BW Offshore Limited as the Issuer hereby gives notice to Bondholders that, as a result of the Dividend in cash of USD 0.035 and the Dividend in kind of 0.0107 shares in BW Energy Limited (rounded down to the nearest whole number of shares), each distributable to Shareholders of record on 21 November 2023, pursuant to Clause 13.1(iii) and Clause 13.6, the Conversion Price has been adjusted from USD 7.5229 to USD 7.3127, effective as of 27 November 2023.

For further information, please contact:
Ståle Andreassen, CFO, +47 91 71 86 55

About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has a fleet of 5 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,400 employees and is publicly listed on the Oslo Stock Exchange.

This information is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act.