BW Energy: Activity related to Block 14/14K offshore Angola

Group 1 - BW Energy Group is considering acquiring Azule Energy's non-operated interests in Block 14/14K offshore Angola as part of its strategy to acquire assets [1] - No binding agreement has been reached regarding the acquisition process, and there is no assurance that it will result in a transaction [1] Group 2 - BW Energy is a growth exploration and production (E&P) company focusing on proven offshore oil and gas reservoirs through low-risk phased developments [2] - The company has access to existing production facilities, which allows for reduced time to first oil and cash flow with lower investments compared to traditional offshore developments [2] - BW Energy's assets include a 73.5% interest in the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, and a 95% interest in the Kudu field in Namibia [2] - The company also holds approximately 7% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 in Namibia [2] - Total net 2P+2C reserves and resources were reported to be 599 million barrels of oil equivalent at the start of 2025 [2]