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

12 Dec 2025 17:18 CET

Oslo, 12 December 2025 - Panoro Energy ASA ("Panoro" or the "Company") (OSE:
PEN) initiated a share buyback program on June 02, 2025, to repurchase up to NOK
100 million in value of the Company's common shares in open market transactions
on the OSE

For the period from and including 08 December - 12 December 2025, Panoro
purchased a total of 100,000 shares at an average price of NOK 20.1155 per
share.

Transaction overview

+--------------+-------+---------+-----------------+-----------------------+
|Date |Trading|Volume |Weighted average |Total daily cumulative |
| |Venue | |share price (NOK)|transaction value (NOK)|
+--------------+-------+---------+-----------------+-----------------------+
|11 December |OSE |50,000 |20.1932 |1,009,660 |
|2025 | | | | |
+--------------+-------+---------+-----------------+-----------------------+
|12 December |OSE |50,000 |20.0378 |1,001,890 |
|2025 | | | | |
+--------------+-------+---------+-----------------+-----------------------+
|Period total | |100,000 |20.1155 |2,011,550 |
+--------------+-------+---------+-----------------+-----------------------+
|Previously | |1,319,250|23.5873 |31,117,509 |
|disclosed | | | | |
|buybacks | | | | |
|under the | | | | |
|program | | | | |
|(accumulated) | | | | |
+--------------+-------+---------+-----------------+-----------------------+
|Share Buy-back| |1,419,250|23.3427 |33,129,059 |
|Total * | | | | |
+--------------+-------+---------+-----------------+-----------------------+

* The commission cost to date for the share buy-back program amounts to NOK
66,258.

Program total cost: NOK 33,195,317

The issuer's holding of own shares: 1,109,380

Following the completion of the above transactions, Panoro owned a total of
1,109,380 of its own shares, corresponding to 0.97791% of Panoro's share
capital.

Appendix:

An overview of all transactions made under the Company's repurchase program
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, Block EG-01 and Block EG-23 offshore
Equatorial Guinea, the Dussafu Marin, Niosi Marin and Guduma Marin Licenses
offshore southern Gabon, the TPS operated assets in 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

661935_Panoro_Energy_ASA_Announces_Transactions_Made_Under_the_Company_s_Share_Buyback_Program.pdf
661935_251212_Appendix_Buyback_announcement_12_December_2025.pdf