Vår Energi ASA

Vår Energi ASA: Mandatory notification of trade by primary insiders and close associates in connection with allocation of bonus shares

Sandnes, Norway, 23 February 2023: Reference is made to the stock exchange

announcement on 15 February 2023 regarding allocation of bonus shares to

investors participating in the initial public offering (the "IPO") of Vår Energi

ASA ("Vår Energi" or the "Company", OSE: VAR) on the Oslo Stock Exchange. A

total number of 1,782,795 bonus shares has today been delivered to shareholders

who were allocated shares in the retail offering and the employee offering of

the IPO, respectively.

Please see attached (i) notification forms on behalf of Eni International B.V.

and Point Resources Holding AS for the transfer of shares to the shareholders

and (ii) notification forms on behalf of the Company's primary insiders who have

received bonus shares in the employee offering and the retail offering.

This information is subject to the disclosure requirements in articles 19 of the

Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the

Norwegian Securities Trading Act.

For further information, please contact:

Investor Relations

Ida Marie Fjellheim, Head of IR

+47 90509291

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.

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