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19 June 2024

Vår Energi ASA: Mandatory notification of trade

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN OR ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES AND THE SECURITIES REFERRED TO HEREIN MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT; ANY PUBLIC OFFERING OF SUCH SECURITIES TO BE MADE IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM THE COMPANY, WHICH WOULD CONTAIN DETAILED INFORMATION ABOUT THE COMPANY AND MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES.

Stavanger, 19 June 2024:

SpringPoint Holding II AS (the “Seller”) has today sold 108,391,713 shares in Vår Energi ASA (“Vår Energi” or the “Company”), representing approximately 4.3 per cent of the shares outstanding in the Company, at NOK 34.43 (the “Placing”).

The Seller is indirectly, through SpringPoint Holding Limited, wholly-owned and controlled by HitecVision SpringPoint, L.P., an investment vehicle managed by HitecVision.

Following completion of the Placing, the Seller will no longer hold any shares in the Company. The Placing is unconditional as of the time of allocation, and the sale shares will be tradeable upon allocation as from 19 June 2024. Settlement will take place on a delivery versus payment basis on 21 June 2024.

HitecVision is represented on the Board of Directors of the Company, and the Seller is a close associate to Ove Gusevik, board member and primary insider in the Company.

The PDMR notice is attached to this announcement.