BW Offshore: Completion of BW Ideol transactions

Completion of BW Ideol transactions

Reference is made to stock exchange announcement made by BW Offshore Limited on 17 February 2021 regarding the investment in Ideol S.A. creating BW Ideol AS (the "Transaction").

After obtaining regulatory approval and following satisfaction of other conditions, BW Ideol AS today completed the share purchase agreement and acquired Ideol S.A. The agreed funds have been transferred to the selling shareholders of Ideol S.A. who have sold their shares for cash and BW Ideol AS will issue a total of 5,815,240 shares to the sellers who have elected to contribute their shares in Ideol S.A. for shares in BW Ideol AS, following registration of the share capital increase in the Norwegian Register of Business Enterprises.

Following the above-mentioned completion, BW Ideol holds 100% of the shares outstanding in Ideol S.A.

For further information, please contact:
Anders S. Platou, Head of Corporate Finance, +47 99 50 47 40
IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has a fleet of 15 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored energy solutions for evolving markets world-wide. BW Offshore has around 2,000 employees and is publicly listed on the Oslo Stock Exchange.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Una Holmen, Manager IR, BW Offshore on 15 March at 20.00.