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22 September 2023

Mandatory notification of purchase by primary insider in connection with secondary placement of existing shares in Vår Energi ASA

Sandnes, Norway, 22 September 2023: Reference is made to the stock exchange notice published on 22 September 2023 regarding the successful secondary placement of existing ordinary shares (the "Shares") of Vår Energi ASA ("Vår Energi") by Point Resources Holding AS.

Please see attached a trade notification form on behalf of Nick Walker, CEO of Vår Energi, who has purchased 371,813 Shares in the secondary placement.

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 IR

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

Vår Energi has around 1000 employees and equity stakes in 39 fields and the company produced net 208 kboepd¹ in first half of 2023. We have our headquarters outside Stavanger, Norway, with offices in Oslo and Hammerfest. To learn more, please visit varenergi.no.