Vår Energi ASA

Vår Energi ASA: Shares allocated to primary insider Nick Walker as part of the long-term incentive program

Sandnes, Norway, 8 December 2023: As part of Vår Energi ASA's (OSE: VAR) long

-term incentive program for executive management, Nick Walker has been allocated

109 372 shares at an average price of 31.6743 NOK. Under the program, the CEO

can be awarded between 50-150% of the base salary in restricted shares. The

restricted shares have a vesting period of three years.

Following the purchase Nick Walker holds a total of 481 185 shares in Vår Energi

ASA

Details on the purchase of shares 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 1000 employees and equity stakes in 40 fields and the

company produced net 209,000 boe per day in the first nine months of 2023. We

have our headquarters outside Stavanger, Norway, with offices in Oslo and

Hammerfest. To learn more, please visit varenergi.no.

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

Media relations

Andreas Wulff, Communication Manager

+47 92616759

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.

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