Vår Energi ASA: Shares allocated to primary insider Nick Walker as part of the long-term incentive program

Sandnes, Norway, 8 December 2023: As part of Vår Energi ASA's (OSE: VAR) long -term incentive program for executive management, Nick Walker has been allocated 109 372 shares at an average price of 31.6743 NOK. Under the program, the CEO can be awarded between 50-150% of the base salary in restricted shares. The restricted shares have a vesting period of three years. Following the purchase Nick Walker holds a total of 481 185 shares in Vår Energi ASA Details on the purchase of shares 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 with a tangible plan to reduce emissions from our operations by 50% within 2030. Vår Energi has around 1000 employees and equity stakes in 40 fields and the company produced net 209,000 boe per day in the first nine months of 2023. 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.