Vår Energi ASA announces pricing of the Euro Senior Notes Offering

05 Mar 2025 17:41 CET

Sandnes, Norway, 05 March 2025: Vår Energi ASA (OSE: VAR, the "Company") is
pleased to announce that it has priced an offering of EUR 1 billion Senior Notes
under Vår Energi ASA's Euro Medium Term Note programme. The Notes mature 12
March 2031 and carry an annual fixed coupon of 3.875%. The issue price was
99.230, equivalent to a yield of 4.022%. The offering will settle on 12 March
2025.

The transaction has been very well received by the market with an order-book
over 4 times oversubscribed at peak.

The Notes will be listed on the regulated market of the Luxembourg Stock
Exchange. The Company intends to use net proceeds of the Offering for a partial
repayment of the Company's credit facilities and for general corporate
purposes.

The Joint Bookrunners for the transaction are BBVA, Citi, DNB Markets, IMI
-Intesa Sanpaolo, ING, Natixis, Standard Chartered Bank and UniCredit.

For further information, please contact:

Investor relations

Ida Marie Fjellheim, VP Investor Relations

+47 90509291

ida.fjellheim@­varenergi.no

Treasury
Rune Dreiem, VP Finance and Treasury
+47 41085958
rune.dreiem@­varenergi.no

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.

Safe and responsible operations are at the core of our strategy. Our ambition is
to be the safest operator on the NCS, and to become carbon neutral in our net
equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 40 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

More information:
Access the news on Oslo Bors NewsWeb site