Sandnes, Norway, 22 April 2024: Reference is made to the announcement on 18 March 2024 by Vår Energi ASA (OSE: VAR, "Vår Energi") regarding the merger plan for the intra-group merger of Vår Energi and Vår Energi Norge AS (formerly Neptune Energy Norge AS).

The boards of directors of Vår Energi and Vår Energi Norge AS have today approved the merger plan. The merger is expected to be completed around the end of the second quarter of 2024, following expiry of a statutory six-week creditor notice period.

For further information about the merger and its complete terms and conditions, please see the announcements of 31 January 2024 and 18 March 2024, as well as the merger plan available at www.varenergi.no.

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

Ida.fjellheim@varenergi.no

Media relations

Andreas Wulff, VP Communications

+47 92616759

andreas.wulff@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 1300 employees and equity stakes in 47 fields. We have our headquarters outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø. To learn more, please visit varenergi.no.

Disclosure: This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.