Panoro Energy ASA - Announces Transactions Made Under the Company's Share Buyback Program

06 Dec 2024 17:30 CET

Oslo, 06 December 2024 - Panoro Energy ASA ("Panoro" or the "Company") (OSE:
PEN) initiated a share buyback program on May 23, 2024 to repurchase up to NOK
100 million in value of the Company's common shares in open market transactions
on the OSE pursuant to an agreement with Arctic Securities AS.

For the period from and including 29 November - 06 December 2024, Panoro
purchased a total of 204,100 shares at an average price of NOK 26.9816 per
share. The transactions effected through the agreement with Arctic comprise all
the transactions effected by or on behalf of the Company during the period.

Transaction overview

+--------------+-------+---------+-----------------+-----------------------+
|Date |Trading|Volume |Weighted average |Total daily cumulative |
| |Venue | |share price (NOK)|transaction value (NOK)|
+--------------+-------+---------+-----------------+-----------------------+
|29 November 24|OSE |70,000 |26.5857 |1,860,999 |
+--------------+-------+---------+-----------------+-----------------------+
|02 December 24|OSE |37,100 |26.6848 |990,006 |
+--------------+-------+---------+-----------------+-----------------------+
|03 December 24|OSE |37,000 |27.6786 |1,024,108 |
+--------------+-------+---------+-----------------+-----------------------+
|05 December 24|OSE |30,000 |27.3851 |821,553 |
+--------------+-------+---------+-----------------+-----------------------+
|06 December 24|OSE |30,000 |27.0090 |810,270 |
+--------------+-------+---------+-----------------+-----------------------+
|Period total |OSE |204,100 |26.9816 |5,506,936 |
+--------------+-------+---------+-----------------+-----------------------+
|Previously |OSE |1,281,500|31.8821 |40,856,871 |
|disclosed buy | | | | |
|-backs | | | | |
|under the | | | | |
|programme | | | | |
|(accumulated) | | | | |
+--------------+-------+---------+-----------------+-----------------------+
|Program total |OSE |1,485,600|31.2088 |46,363,807 |
+--------------+-------+---------+-----------------+-----------------------+

The issuer's holding of own shares: 1,485,600

Following the completion of the above transactions, Panoro owned a total of
1,485,600 of its own shares, corresponding to 1.27% of Panoro's share capital.

Appendix:

An overview of all transactions made under the Company's repurchase program
and its agreement with Arctic Securities that have been carried out during the
above-mentioned time period is attached to this report and available at
www.newsweb.no.

Contact information

For further information, please contact: investors@panoroenergy.com

About Panoro

Panoro Energy ASA is an independent exploration and production company based in
London and listed on the main board of the Oslo Stock Exchange with the ticker
PEN. Panoro holds production, exploration and development assets in Africa,
namely interests in Block-G, Block S and Block EG-01 offshore Equatorial Guinea,
the Dussafu Marin, Niosi Marin and Guduma Marin blocks offshore southern Gabon,
the TPS operated assets, Sfax Offshore Exploration Permit and Ras El Besh
Concession, offshore Tunisia, and onshore Exploration Right 376 in South Africa.

Visit us at www.panoroenergy.com.

Follow us on LinkedIn (https://www.linkedin.com/company/panoro-energy)

More information:
Access the news on Oslo Bors NewsWeb site

634085_Panoro_Energy_ASA_Announces_Transactions_Made_Under_the_Company_s_Share_Buyback_Program.pdf
634085_PEN_Appendix_Buyback_transactions_list_29_Nov_06_Dec_2024.pdf