PANORO ENERGY ASA - Shareholding 15% Threshold Reached

23 Oct 2025 11:37 CEST

Yesterday, on trade day 10/22/2025, funds managed by Cobas Asset Management,
SGIIC, S.A. reached and exceeded 15% threshold, holding 15,2391% of issued share
capital of PANORO ENERGY ASA (ISIN NO0010564701).

(a) the name of the issuer of the shares:


PANORO ENERGY ASA

(b) the date on which the proportion of shares held reached, exceeded or fell
below the thresholds set in the Securities Trading Act section 4-2, subsection
(2):
10/22/2025

(c) name of the entity subject to the disclosure obligation, including the name
of the Shareholder:

Cobas Asset Management, SGIIC, S.A., a Management Company based in Madrid with
delegated voting rights on behalf of multiple managed portfolios

(d) the number of shares the notification encompasses:


17.287.895 shares

(e) the subsequent situation with regard to voting rights, including the
percentage of the votes and shares of the company held by the entity concerned:
15,2391%

(f) what percentage of the votes and shares of the company the entity concerned
holds in the form of rights to shares:
None

(g) the circumstance that triggered the disclosure obligation and whether such
circumstance applied to the entity concerned himself or to any related party
(close associate) as mentioned in the Securities Trading Act section 2-5:




325.996 shares acquired on 22-oct-2025

(h) the chain of controlled undertakings through which the shares or rights are
owned:

Cobas Asset Management, SGIIC, S.A. as investment manager, authorized
to exercise voting rights attached to the shares under management on a
discretionary basis.

(i) where the notification concerns rights to shares as mentioned in the
Securities Trading Act section 4-2, subsection (5), the notification shall also
contain a description of the rights, including information on the date and time
that the rights will or can be exercised and the date and time of their expiry:




Not applicable

Find attached a copy in .PDF format.
Please see attachment on www.newsweb.no

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657795_22-10-2025 PANORO_Superación 15%.pdf