Vår Energi ASA

Report Publication Announcement • Mar 30, 2023

Vår Energi publishes Annual Report and Sustainability Report for 2022

Vår Energi publishes Annual Report and Sustainability Report for 2022

Sandnes, Norway, 30 March 2023: The Board of Directors of Vår Energi ASA (OSE:

VAR) has approved the financial statements for 2022 and the Company has today

published the Annual Report and Sustainability Report for 2022. The reports

attached have also been made available on the Company's website

www.varenergi.no:

· Annual Report (in PDF and ESEF-format)

· Sustainability report

The report on Payments to governments is included in the 2022 Annual Report.

There are no material changes to the financial statements compared with the

preliminary and unaudited results for 2022 as reported by Vår Energi on 16

February 2022.

Contact

Investor relations:

Ida Marie Fjellheim

Head of Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

Media relations:

Andreas Wulff

Communication Manager

+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 and a net-zero

producer (Scope 1 and 2) by 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.

This information is subject to disclosure requirements pursuant to section 5-12

of the Norwegian Securities Trading Act.

This announcement may include projections and other "forward-looking" statements

within the meaning of applicable securities laws. Any such projections or

statements reflect the current views of Vår Energi AS ("Var Energi") about

further events and financial performance. No assurances can be given that such

events or performance will occur as projected and actual results may differ

materially from these projections. Var Energi undertakes no obligation to

publicly release any revisions to these forward-looking statements to reflect

events or circumstances after the date of this announcement.