BW Ideol - Employee share option programme

On 18 March 2021, the Board of Directors of BW Ideol AS (BW Ideol or the ‘Company’) resolved to grant options to employees of the Company. The grant of options is made pursuant to two share option programmes established and approved by the Board of Directors for employees of the Company: (i) the Company's one time short-term incentive programme (the "Continuation Plan") and (ii) the long term incentive programme ("LTIP"). The Board of Directors has been granted authorisations from the Company's general meeting 14 March 2021 to issue new shares and to purchase and hold own shares for the purpose to deliver shares to employees under the two programmes. The authorisations expire at the annual general meeting of the Company in 2022. The Continuation Plan consists of a one-time grant of in total 1,476,282 options with a strike price corresponding to the Offer Price (i.e. NOK 47), a one-year vesting period and three years exercise period for certain employees of Ideol S.A.

To align the interest of the participating employees with those of the Company’s shareholders, the LTIP has been adopted. The programme is discretionary and participants are invited on an annual basis. The programme is based on a combination of options and Restricted Share Unit (RSU) grants.

The total number of options awarded under the LTIP at 18 March 2021 is 204,549 where each option will give the holder the right to acquire one BW Ideol share. The strike price is corresponding to the Offer Price. A total of 23 BW Ideol employees have been invited to participate in the programme. The options will have a threeyears vesting period (staggered annual vesting) and will expire five years after the award date.

The total number of RSUs awarded at 18 March under this programme is 14,242 where each RSU have a vesting period of three years, before the RSU is delivered to the RSU beneficiary at end of the vesting period.

The options and RSUs are non-tradable and conditional upon the option holder being employed by the Company and not having resigned or being terminated for cause prior to the vesting date.

Primary insiders in Company have received the following grants of options and RSU, according to the terms described above:

1. Chief Executive Officer, Paul de la Guérivière

Options awarded in the Continuation Plan: 578,910

Options awarded under the LTIP program: 60,000

RSUs awarded under the LTIP program: 0

Shares total: 1,963,340

2. Chief Financial Officer, Nicolas de Kerangal

Options awarded in the Continuation Plan: 156,971

Options awarded under the LTIP program: 16,000

RSUs awarded under the LTIP program: 1,576

Shares total: 80,000

3. Chief Sales & Marketing Officer, Bruno Geschier

Options awarded in the Continuation Plan: 300,490

Options awarded under the LTIP program: 20,000

RSUs awarded under the LTIP program: 1,971

Shares total: 0

4. Chief Products and Operations Officer, Ghislain Dufay

Options awarded in the Continuation Plan: 0

Options awarded under the LTIP program: 16,000

RSUs awarded under the LTIP program: 1,576

Shares total: 0

5. Chief Engineering Officer, Stéphane Toumit

Options awarded in the Continuation Plan: 19,621

Options awarded under the LTIP program: 11,200

RSUs awarded under the LTIP program: 1,104

Shares total: 0

6. Chief Technology Officer, Thomas Choisnet

Options awarded in the Continuation Plan: 0

Options awarded under the LTIP program: 12,000

RSUs awarded under the LTIP program: 1,182

Shares total: 227,000

The details of the transactions are described in the attached document.

For further information, please contact: Nicolas de Kerangal, Chief Finance & Partnerships Officer, +33 (0)7 76 87 70 08

www.bw-ideol.com or ir@bw-ideol.com

 

About BW Ideol:

BW Ideol is a leading fully integrated platform in floating offshore wind with more than 10 years of experience from design, execution and development of floating wind projects based on Ideol S.A.'s patented floating offshore wind technology and engineering capabilities. The company has a dual-leg growth strategy as a floater EPCI and maintenance services provider and as a wind-farm project developer and co-owner. BW Ideol has two full-scale offshore floating wind turbines in operation in France and Japan, a significant project pipeline, and is supported by BW Offshore’s extensive experience from developing and operating offshore energy production systems.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange release was published by Una Holmen, Manager IR at BW Offshore, on 19 March 2021 at 17.00 CET.

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