PetroNor E&P ASA: Proposal by the board of directors for distribution to the shareholders

23 Dec 2024 12:00 CET

Oslo, 23 December 2024: Reference is made to the stock exchange announcement by
PetroNor E&P ASA ("PetroNor" or the "Company") on 31 October 2024 regarding a
contemplated distribution to the shareholders in the Company.

The board of directors has resolved to propose a distribution in the amount of
NOK 2 per share to shareholders in the Company as of 24 January 2025 (as
registered in Euronext Securities Oslo (VPS) on 28 January 2025).

The distribution shall be charged to share premium and shall be classified as
repayment of paid-in capital for tax purposes, pursuant to Section 10-11 second
paragraph second sentence of the Norwegian Taxation Act.

It is a prerequisite for the distribution that the board of directors' proposal
for an audited interim balance for the Company as of 9 December 2024 and the
auditor's accompanying auditor statement are approved by the extraordinary
general meeting of the Company expected to be held on 23 January 2025 and
registered in the Norwegian Register of Company Accounts.

Provided that the traded shares are subject to ordinary settlement in the
Euronext Securities Oslo (VPS), shares acquired up to and including 24 January
2025 will carry the right to receive distribution, whereas shares that are
acquired on and after 27 January 2025 will not carry the right to receive
distribution.

Subject to approval by the extraordinary general meeting of the Company,
expected to be held on 23 January 2025, the distribution is expected to be paid
on or about 31 January 2025.

The notice of the extraordinary general meeting is expected to be published on
or about 2 January 2025.

This information is published in accordance with the requirements of the
Continuing Obligations.

For further information, please contact:
Investor Relations
Email: ir@petronorep.com
www.petronorep.com

About PetroNor E&P ASA
PetroNor E&P ASA is an Africa-focused independent oil and gas exploration and
production company listed on Oslo Børs with the ticker PNOR. PetroNor E&P ASA
holds exploration and production assets offshore West Africa, specifically the
PNGF Sud licenses in Congo Brazzaville, the A4 license in The Gambia and OML-113
in Nigeria.

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635560_PNOR board proposal.pdf