Vår Energi ASA

Vår Energi ASA's share saving plan allocates shares

Sandnes, Norway, 8 December 2022: A total of 351 152 shares were purchased on

behalf of employees in Vår Energi ASA (OSE: VAR) participating in the company's

employee share saving programme. The average purchase price was NOK 34.3369 per

share. The transactions are based on savings made in October, November and

December 2022.

As part of the programme, primary insiders in Vår Energi ASA (OSE: VAR)

purchased 94 646 shares at an average price of NOK 34.3369 per share. In

addition, shares have been allocated to primary insiders as part of the long

-term incentive (LTI) program. Under the program, the executive management can

be awarded between 25-30% of their base salary in restricted shares. The

restricted shares have a vesting period of three years.

Details on individual allocation of shares to primary insiders 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 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 246,000 boe per day in 2021. 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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