Vår Energi ASA (VAR) Earnings Call Transcript & Summary

It is now 3:00 p.m. here in Oslo, and time to welcome you all to this Extraordinary General Meeting of Var Energi ASA. My name is Thorhild Widvey. I'm the Chair for the Board of Directors, and it's my pleasure to declare the meeting officially open. As per the notice, the Board has proposed that attorney at law, Viggo Bang-Hansen serves as Independent Chair. I will therefore give the word to him to take us through the items on today's agenda, please.

Thank you for that, Thorhild. The general meeting is now closed for additional participation, and we will shortly move to the first item on the agenda. Before that, we can inform the meeting that we, in total, have shares present constituting 83.7% of the company's share capital. The exact number of votes and shares represented will be included in the minutes. With that, we'll move to the formal agenda items and the opportunity to vote on these shall also have been opened. The first item on the agenda is election of a meeting Chair and a person to co-sign the minutes. The Board has, as Thorhild said, proposed that I chair the meeting as Independent Chair and to co-sign the minutes, I propose that General Counsel, Sverre Bjelland, who is present, is elected. Shareholders who have not yet voted on agenda item 1 can do so now. [Voting]

The count then shows that Item 1 has been approved. Item 2 for consideration today deals with approval of the notice for the meeting and the proposed agenda. The notice was distributed with the required 3-week notice period and was also announced as a stock exchange release on 21st July. Absent any questions or comments to this, we ask all shareholders to finalize their votes on item 2. [Voting]

The count then shows that the notice and the agenda are approved. We then come to Item 3 on the agenda, approval of the audited interim balance sheet and notes as per 31st May 2026, as published on 17th of August, together with the EGM notice. With no questions received under this item, we ask the shareholders to finalize their votes on item 3. [Voting]

The minutes will then reflect that the audited interim balance sheet and notes as per 31 May 2026 have been approved. Item 4 on the agenda relates to distribution of dividends for Q2 2026 in the amount of NOK 1.355 per share based on the interim balance sheet just approved under Item 3. Absent questions, we ask those who have not yet done so to cast your votes on item 4 now. [Voting]

And the count then shows that the dividend distribution has been approved as proposed. That brings us to the last item on today's agenda, Item 5 and the proposed authorization to the Board to increase the share capital through issuance of new ordinary shares. No questions to this item either, so we then ask the shareholders to finalize their votes on item 5 now. [Voting]

And the count shows that the authorization has been approved as proposed. We then concluded all the matters on the agenda today. Exact voting figures on each of the voting items will appear in the minutes, which will be made available shortly on the company's website. With that, we can declare the general meeting to be adjourned. And on behalf of Var Energi, we thank you all for participating.