Vår Energi ASA (OSE: VAR, “Vår Energi”, “the Company”) has completed the acquisition of selected assets and licences from Pandion Energy AS, as announced on 18 June 2026.

Through the acquisition, Vår Energi strengthens its position in the Gjøa and Åsgard areas through a 10% interest in the producing Nova field (PL418), a 20% interest in the Ofelia development (PL929), a 49% interest in the Sierra Solberg discovery (PL263), and a portfolio of exploration licences in the Gjøa area. Together with other recent transactions, this supports the Company's strategy of optimising ownership around key operated hubs, extending infrastructure and hub lifetime, supporting long-term production, value creation and cash flow generation.

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the Norwegian Continental Shelf (NCS).

About Pandion Energy

Pandion Energy is an independent, full-cycle oil and gas company driving value by maturing resources to reserves in high quality assets on the Norwegian continental shelf.