Vår Energi ASA

Formal approval of full year financial statements 2021 by Board of Directors

Sandnes, Norway, 30 March 2022: The Board of Directors (BOD) of Vår Energi ASA

(OSE: VAR) has approved the Annual report and the financial statements for 2021.

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

preliminary and unaudited results for 2021 as reported by Vår Energi on 1 March

Vår Energi will publish its 2021 Annual report, Sustainability report and Annual

Statements of Reserves in a separate announcement.

Contact

Investor relations:

Ida Marie Fjellheim

Head of IR

+47 90509291

Media relations:

Andreas Wulff

Communication Manager

+47 92616759

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.

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.

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