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22 February 2024

Vår Energi ASA: Mandatory notification of trade by primary insiders in connection with allocation of bonus shares

Sandnes, Norway, 22 February 2024: Reference is made to the prospectus published by Vår Energi ASA (OSE: VAR) on 4 February 2022 in connection with the Company’s initial public offering (IPO) on the Oslo Stock Exchange. The bonus shares will be delivered to employees taking part in the Employee offering at IPO, who have not sold or otherwise transferred any of the allocated shares in the period from the first day of listing of the Company's shares on Oslo Exchange, and 16 February 2024. Each employee is eligible to receive one free bonus share for every one share allocated in the IPO.

A total of 1 385 780 shares will be allocated to employees. The shares have been bought in the market by the Company pursuant to the authorisation granted by the annual general meeting in 2023. The shares were acquired at an average purchase price of NOK 31.4601 per share.

Details on individual allocation of shares to primary insiders and close associates is included in the attached notification of trading.

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the Norwegian continental shelf (NCS). We are committed to deliver a better future through responsible value driven growth based on over 50 years of NCS operations, a robust and diversified asset portfolio with ongoing development projects, and a strong exploration track record. Our ambition is to be the safest operator on the NCS, the partner of choice, an ESG leader with a tangible plan to reduce emissions from our operations by 50% within 2030.

Vår Energi has around 1300 employees and equity stakes in 47 producing fields. We have our headquarters outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø. To learn more, please visit varenergi.no.

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

Media relations

Andreas Wulff, Communication Manager

+47 92616759

andreas.wulff@varenergi.no

This information is subject to the disclosure requirements pursuant to regulation EU 596/2014 Article 19 and Section 5-12 the Norwegian Securities Trading Act.