Neptune Norway's Asset Portfolio Integration

Adding scale, diversification and longevity Proforma estimated figures of the combined company Production +31% 2P reserves Gas share of reserves +25% +9pp. Emission intensity² -33% Opex -8% Q1 2023 production (kboepd) End-2022 2P reserves (billion boe) End-2022 gas share of 2P reserves (%) FY 2022 (kg CO2/boe) FY 2022 (USD/boe) 214 ~281 1.1 ~1.3 23% ~32% 9 ~6 13.5 ~12.5 Vår Energi Proforma Vår Energi Proforma 1 Vår Energi Proforma 1 Vår Energi Proforma³ Vår Energi Proforma³ 1. Source: Vår Energi ASR 2022 and Neptune group ASR 2022 2. Operational control 3. Source: Vår Energi reported numbers and Neptune group

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