Mandatory notification of trade

BW Offshore Limited (BWO) has today under a long-term bonus plan transferred 6 951 shares to CFO Knut R. Sæthre, 4 236 shares to CCO Rune Bjorbekk and 2 612 shares to COO Marco Beenen.
CEO Carl K. Arnet and Head of Projects Kei Ikeda have received the equivalent of 10 588 and 3 617 shares respectively in a cash settlement; which today has been used to purchase shares in the market. Carl K. Arnet purchased 10 588 shares at NOK 57,11 per share, and Kei Ikeda purchased 3 617 shares at NOK 55,58 per share.

The price for the shares awarded under the long-term bonus plan was set at NOK 44.27 per share, which represents the average closing price over the five business days following the end of the period of the plan. The shares will be restricted until June 2019.

In addition, CEO Carl K. Arnet purchased 1 287 shares at NOK 57,11 per share, and COO Marco Beenen purchased 5 000 shares at NOK 56,20 per share. CFO Knut R. Sæthre sold 84 309 shares at NOK 56,28 per share.

Following the above transactions, BWO will hold 1 513 shares in treasury. Carl K. Arnet and his close associates will hold 2 361 336 shares, Knut R. Sæthre will hold 150 000 shares, Rune Bjorbekk will hold 147 847 shares, Marco Beenen will hold 37 418 shares and Kei Ikeda will hold 6 034 shares in BWO.

For further information, please contact:

Knut R. Sæthre, CFO, +47 911 17 876

IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:

BW Offshore is a leading provider of floating production services to the oil and gas industry. The company also participates in developing proven offshore hydrocarbon reservoirs. BW Offshore is represented in all major oil & gas regions world-wide with a fleet of 15 owned FPSOs. The company has more than 30 years of production track record, having executed 39 FPSO and FSO projects. BW Offshore is listed on the Oslo Stock Exchange.