Vår Energi ASA announces pricing of EUR 750 million Subordinated Fixed Rate Reset Securities

Sandnes, Norway, 22 April 2026: Vår Energi ASA (OSE: VAR), (the Company) is pleased to announce that today it successfully priced an offering of:

· EUR 750 million in principle amount of 4.95% Subordinated Fixed Rate Reset Securities due 2086 with a non-call period of 5.25 years (the "Securities"). · The Securities mature on 29 April 2086, with a first reset date on 29 July 2031. · The issue price of the Securities is 99.235%, equivalent to a yield of 5.125%.

The offering was very well received by the market with an order-book that was more than 6x oversubscribed at peak and 4x oversubscribed at allocation.

The Securities will carry an annual fixed interest rate of 4.95% per annum until the first reset date on 29 July 2031. The interest rate will reset on the first reset date and every five years thereafter to the prevailing Euro 5 Year Mid -Swap Rate plus the applicable margin. The initial margin will be 2.308% and will step up by 0.25% on 29 July 2036, and an additional 0.75% on 29 July 2051 (cumulative 1.00%).

Rating agencies Moody's and S&P have assigned issue ratings to the Securities of Ba2 and BB+, respectively, with an "equity credit" of 50% (until year 50 for Moody's and until the First Reset Date for S&P).

The Securities will be listed on the regulated market of the Luxembourg Stock Exchange. The net proceeds of the Securities will be used for refinancing of a portion of the Issuer's existing senior debt and/or general corporate purposes.

The Securities represent the second issuance of Subordinated Fixed Rate Reset securities by the Company, demonstrating the Company's commitment to the asset class, and for hybrid securities to form part of the Company's capital structure.

Citi, ING and UniCredit acted as Global Coordinators and Structuring Advisors. Barclays, BofA Securities, BBVA, Citi, DNB Markets, ING, Natixis, Standard Chartered Bank AG and UniCredit acted as Active Bookrunners.

Contact

Investor relations Ida Marie Fjellheim, VP Investor relations +47 905 09 291 ida.fjellheim@­­­varenergi.no

Treasury Rune Dreiem, SVP Finance and Treasury +47 410 85 958 rune.dreiem@­­­varenergi.no

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the Norwegian continental shelf (NCS). To learn more, please visit varenergi.no.