Vår Energi ASA — M&A Activity 2022

Aug 10, 2022

PRESS RELEASE

Restructuring of HitecVision funds' interests in Vår Energi ASA

Stavanger, 10 August 2022:

Point Resources Holding AS ("Point Resources") is the investment holding company consolidating the interests of various funds and co-investment vehicles managed or advised by HitecVision (the "Funds") in the publicly listed company Vår Energi ASA (OSE: VAR) ("Vår Energi"). Point Resources is currently the second largest shareholder in Vår Energi owning 517,635,559 shares representing approximately 20.7% of the outstanding shares and votes in the company.

To accommodate the varying maturities of the Funds and facilitate distributions to their investors, HitecVision has initiated a restructuring of the Funds' respective interests in Vår Energi. The restructuring is expected to be completed within the next 12 months and include a liquidation of Point Resources and the Funds' intermediary holding companies, with all or parts of the interests being continued by new holding vehicles directly or indirectly managed by HitecVision. As such, HitecVision intends to remain actively committed to Vår Energi for the longer term.

Point Resources Holding AS