Vår Energi ASA

Vår Energi ASA: Approval of intra-group merger with Vår Energi Norge AS

Sandnes, Norway, 22 April 2024: Reference is made to the announcement on 18

March 2024 by Vår Energi ASA (OSE: VAR, "Vår Energi") regarding the merger plan

for the intra-group merger of Vår Energi and Vår Energi Norge AS (formerly

Neptune Energy Norge AS).

The boards of directors of Vår Energi and Vår Energi Norge AS have today

approved the merger plan. The merger is expected to be completed around the end

of the second quarter of 2024, following expiry of a statutory six-week creditor

notice period.

For further information about the merger and its complete terms and conditions,

please see the announcements of 31 January 2024 and 18 March 2024, as well as

the merger plan available at www.varenergi.no.

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

Media relations

Andreas Wulff, VP Communications

+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 with a tangible

plan to reduce emissions from our operations by 50% within 2030. Vår Energi has

around 1300 employees and equity stakes in 47 fields. We have our headquarters

outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø. To learn

more, please visit varenergi.no.

Disclosure: This information is subject of the disclosure requirements pursuant

to section 5 -12 of the Norwegian Securities Trading Act.

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