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.