Panoro Energy ASA - Mandatory notification of trade: Delivery of shares to investors in tranche 1 of the Private Placement

03 Mar 2026 21:51 CET

Oslo, Norway, 3 March 2026: Reference is made to the stock exchange announcement
by Panoro Energy ASA (the "Company", with OSE Ticker: "PEN") on 25 February 2026
regarding the successfully placed private placement of a total of 19,999,999 new
shares to be issued by the Company (the "Private Placement") and the disclosure
of major shareholdings and share lending in connection with the Private
Placement.

To facilitate delivery-versus-payment (DVP) settlement of shares allocated to
the investors in tranche 1 of the Private Placement, SB1 Markets AS (the
"Settlement Agent"), acting as settlement agent on behalf of the managers in the
Private Placement, has today delivered a total of 10,233,641 existing and
unencumbered shares in the Company already admitted to trading on Euronext Oslo
Børs borrowed from Sundt AS pursuant to a share lending agreement to the
investors in tranche 1 of the Private Placement. 1,460,759shares remains to be
delivered to the investors in tranche 1 of the Private Placement, which is
expected to occur tomorrow, 4 March 2026.

Following settlement of shares today, 3 March 2026, the Settlement Agent has
reduced its shareholding from 11,694,400 shares and votes to 1,460,759shares and
votes, and thus fallen below the 5% and the 10% threshold pursuant to section 4
-2 of the Norwegian Securities Trading Act. The Settlement Agent will hold no
shares or votes in the Company following full delivery of the shares allocated
to the investors in Tranche 1 of the Private Placement, expected to occur
tomorrow, 4 March 2026.

This disclosure is made in accordance with sections 4-2 of the Norwegian
Securities Trading Act and is subject to the disclosure requirements pursuant to
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 atwww.panoroenergy.com
Follow us on LinkedIn(https://www.linkedin.com/company/panoro-energy/)

More information:
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