Vår Energi ASA's share saving plan allocates shares

08 Dec 2022 07:00 CET

Sandnes, Norway, 8 December 2022: A total of 351 152 shares were purchased on
behalf of employees in Vår Energi ASA (OSE: VAR) participating in the company's
employee share saving programme. The average purchase price was NOK 34.3369 per
share. The transactions are based on savings made in October, November and
December 2022.

As part of the programme, primary insiders in Vår Energi ASA (OSE: VAR)
purchased 94 646 shares at an average price of NOK 34.3369 per share. In
addition, shares have been allocated to primary insiders as part of the long
-term incentive (LTI) program. Under the program, the executive management can
be awarded between 25-30% of their base salary in restricted shares. The
restricted shares have a vesting period of three years.

Details on individual allocation of shares to primary insiders is included in
the attached notification of trading.

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.

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

Media relations

Andreas Wulff, Communication Manager

+47 92616759

andreas.wulff@varenergi.no

This information is subject to the disclosure requirements pursuant to
regulation EU 596/2014 Article 19 and Section 5-12 the Norwegian Securities
Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

577617_MAR_primary_insiders_Share_saving_December_2022_Var_Energi.pdf