Vår Energi ASA

Share Issue/Capital Change • Feb 24, 2022

Vår Energi ASA – Stabilisation measures taken

Vår Energi ASA – Stabilisation measures taken

Vår Energi ASA – Stabilisation measures taken

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE “IMPORTANT INFORMATION” AT THE END OF THE PRESS RELEASE.

Vår Energi ASA - Stabilisation measures taken

Sandnes, Norway, 24 February 2022: Reference is made to the stock exchange announcement by Vår Energi ASA ("Vår Energi" or the "Company", OSE ticker “VAR”) on 16 February 2022 where the Company announced the beginning of the stabilisation period related to the initial public offering of shares in Vår Energi (the "Offering").

The Company has received notification that SpareBank 1 Markets AS, acting as stabilisation manager in the Offering, has taken the stabilisation measures set out in the attached notifications with respect to the shares of the Company.

For further information, please contact:

Investor relations

Ida Marie Fjellheim, Head of IR

+47 90509291

ida.fjellheim@varenergi.no

Vår Energi is 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 247,000 boe per day in the third quarter of 2021. We have our headquarters outside Stavanger, Norway, with offices In Oslo and Hammerfest. To learn more, please visit varenergi.no.