Key information in connection with redemption of entire bond loan

31 Oct 2025 13:15 CET

Reference is made to the stock exchange announcement published by Pandion Energy
AS (“Pandion” or “Pandion Energy”) on 22 July 2025, wherein Pandion announced
that it had entered into an agreement to sell its participating interests in
three assets comprising seven production licenses on the Norwegian Continental
Shelf (NCS) to INPEX Idemitsu Norge AS (the “Transaction”).

As noted in that stock exchange notification, the Transaction, once completed,
represents a mandatory prepayment event under Pandion Energy’s outstanding bond
issue “Pandion Energy AS 22/26 9,75% USD C” (ISIN NO0012535816) (the “Bond
Issue”).

All capitalised terms used but not defined in this stock exchange notice shall
have the meaning ascribed to such terms in the Bond Terms.

A Mandatory Prepayment Event has occurred as of 31 October 2025 and Pandion
Energy will redeem all of the Outstanding Bonds pursuant to Clause 10.5
(Mandatory early redemption due to a Mandatory Redemption Event) of the Bond
Terms and, accordingly, at a price equal to the applicable call price as set out
in Clause 10.2 (Voluntary early redemption Call Option) of the Bond Terms.

The Bonds will be redeemed at a price equal to 102.4375 % of the Nominal Amount
for each redeemed Bond (plus accrued unpaid interest on the redeemed amount) on
the Mandatory Redemption Repayment Date falling on 5 November 2025 and record
date being 3 November 2025.

In accordance with the ABM Issuer Rules section 3.2.2 (1) item 6, and the
relevant associated notice, Pandion Energy provides the following key
information:

Issuer: Pandion Energy AS
ISIN for the bond loan: ISIN NO 001 2535816
Original Maturity Date: 3 June 2026
New maturity Date: 5 November 2025
Redemption price: 102.4375%
Other information: N/A


For more information, please contact:
Jan Christian Ellefsen, CEO Pandion Energy AS
M: + 47 917 44 899

About Pandion Energy
Pandion Energy is an independent, full cycle oil and gas company, participating
in the discovery, appraisal, development and production of oil and gas resources
on the Norwegian continental shelf.

www.pandionenergy.no

This information is published in accordance with the ABM Issuer Rules section
3.2.2 (1) item 6, and the relevant associated notice.

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