Neptune Norway's Asset Portfolio Integration

Njord Area • . A key production area in the Norwegian Sea and a hub for Bauge, Hyme and Fenja, in which Vår Energi has an existing working interest, tying into the Njord A platform A re-development programme was carried out including extensive improvements to the semi-submersible Njord A platform and the Njord Bravo storage vessel. The project is completed and production has re-started in Q4 2022. Additionally, ten new wells will be drilled from 2023 to 2026 The upgrades to the Njord A platform have extended lifetime of the fields and facilitates production from Hyme, Bauge and Fenja Asset overview Fields Licenses Njord, Bauge, Hyme, Fenja PL107, PL107C, PL132, PL348, PL348B, PL586 2P reserves¹² 65.3 mmboe Q1 2023 production 1,3,4 0.8 kboepd (production ramp-up in Q1 and Q2 2023) Discovery year 1986 Production start 1997 Partners and operator 21 1. Net to Neptune Norway 2. Source: Neptune group ASR 2022 3. Source: Neptune group Njord: Wintershall Dea (50%), Equinor (27.5%), Neptune (22.5%) Bauge and Hyme: Equinor (42.5%), Wintershall Dea (27.5%), Vår Energi (17.5%), Neptune (12.5%) Fenja: Vår Energi (45%), Neptune (30%), Sval Energi (17.5%), DNO (7.5%) 4. Njord was gradually phased into production in Q1 2023, Fenja, Bauge and Hyme started producing in Q2 2023 The North Sea Urd Marulk Norne Heidrun Morvin Åsgård Hub Kristin Trestakk Tyrihans Mikkel Bauge Hyme Njord Fenja Njord Area Halten Øst 2P reserves split¹2 21% 39% 65.3 mmboe 40% Oil Gas NGL Fields with current Vår Energi ownership

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