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 0.034 payable to shareholders of record on 11 September 2020, pursuant to Clause 13.1(iii) and Clause 13.6, the Conversion Price has been adjusted from USD 9.2695 to USD 9.1029, effective as of 3 September 2020.

For further information, please contact:
Ståle Andreassen, CFO, +65 97 27 86 47
Anders S. Platou, Head of Corporate Finance, +47 99 50 47 40

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