Timing in line with expectations (late Q2 2025)Contributes to overall de-risking of 2025/26 estimates......and adds ~0.7 NOK/sh to our NAV (reduced project-specific risk-factor)VAR offers the right exposure in the event of sustained geopolitical risk premium/ further conflict escalation

23 Jun 2025
Arctic FLASH: Vår Energi - Balder X reaches first oil milestone

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Arctic FLASH: Vår Energi - Balder X reaches first oil milestone
Timing in line with expectations (late Q2 2025)Contributes to overall de-risking of 2025/26 estimates......and adds ~0.7 NOK/sh to our NAV (reduced project-specific risk-factor)VAR offers the right exposure in the event of sustained geopolitical risk premium/ further conflict escalation