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

28 Apr 2025 11:45 CEST

Oslo, 28 April 2025: The board of directors of PetroNor E&P ASA ("PetroNor" or
the "Company") has resolved to propose a distribution in the amount of NOK 2.2
per share to shareholders in the Company as of 22 May 2025 (as registered in
Euronext Securities Oslo (VPS) on 26 May 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 annual financial statements
of the Company for 2024 are approved by the ordinary general meeting of the
Company expected to be held on 21 May 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 22 May 2025
will carry the right to receive distribution, whereas shares that are acquired
on and after 23 May 2025 will not carry the right to receive distribution.

Subject to approval by the ordinary general meeting of the Company expected to
be held on 21 May 2025, the distribution is expected to be paid on or about 30
May 2025.

The notice of the ordinary general meeting is expected to be published on or
about 30 April 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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644565_PNOR Board proposal.pdf