Panoro Energy ASA: Mandatory notification of trade

25 Feb 2026 16:31 CET

Oslo, Norway, 25 February 2026: Reference is made to the stock exchange
announcement by Panoro Energy ASA (the "Company") today regarding the
successfully placed private placement of a total of 19,999,999 new shares to be
issued by the Company at an offer price of NOK 23.35 (the "Private Placement").

The following primary insiders (PDMRs) in the Company are receiving shares in
connection with their underwriting of the Private Placement at the offer price
as follows:

· Mr. Julien Balkany, Executive Chairman of the Board, 84,720 shares as
underwriting commission. In addition, Mr. Balkany has received conditional
allocation of 275,599 offer shares in Tranche 2 of the Private Placement; and
· Mr. Christophe Salmon, Board Member, 100,000 shares as underwriting
commission. In addition, Mr. Salmon has received conditional allocation of
400,000 offer shares in Tranche 2 of the Private Placement.

PDMR notifications pursuant to the Regulation EU 596/2014 (MAR) article 19 are
attached.

This information is subject to the disclosure requirements pursuant to MAR
article 19 and the Norwegian Securities Trading Act section 5-12.

Enquiries

Qazi Qadeer, Chief Financial Officer

Tel: +44203 405 1060

Email: investors@panoroenergy.com

About Panoro Energy

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 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

666819_260225_Panoro_Energy_PDMR_forms_UW_shares_CG_JB.pdf
666819_260225_Panoro_Energy_Mandatory_Notification_of_Trades_UW_.pdf