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

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 of USD 0.0625 payable to Shareholders of record on 29 May 2024, pursuant to Clause 13.1(iii) and Clause 13.6, the Conversion Price has been adjusted from USD 7.0305 to USD 6.8712, effective as of 28 May 2024.

For further information, please contact:
IR@bwoffshore.com   www.bwoffshore.com

About BW Offshore:

BW Offshore engineers innovative floating production solutions. The Company has a fleet of 3 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 1,200 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