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21 April 2023

Vår Energi ASA: Mandatory notification of trade by close associates to primary insiders in connection with transfer of bonus shares

Sandnes, Norway, 21 April 2023: Reference is made to the stock exchange announcement on 23 February 2023 regarding allocation of bonus shares to investors participating in the initial public offering (the "IPO") of Vår Energi ASA ("Vår Energi" or the "Company", OSE: VAR) on the Oslo Stock Exchange.

An additional number of 21 778 bonus shares has today been transferred by ENI International B.V and Point Resources Holding AS for delivery to shareholders who were allocated shares in the retail offering. Please see attached notification forms on behalf of Eni International B.V. and Point Resources Holding AS for the transfer of shares to the shareholders.

This information is subject to the disclosure requirements in articles 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

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 and concrete plan to reduce emissions from our operations by 50% within 2030.

Vår Energi has more than 900 employees and equity stakes in 36 fields producing net 220,000 boe per day in 2022. We have our headquarters outside Stavanger, Norway, with offices in Oslo and Hammerfest. To learn more, please visit varenergi.no.