PANORO ENERGY ASA - Shareholding below 15% threshold

16 Mar 2026 12:50 CET

On trade day 6-march-2026, funds managed by Cobas Asset Management, SGIIC, S.A.
fell below 15% threshold, holding 14,3533% 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):
03/06/2026

(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:

17.961.535 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:
14,3533%

(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:




Private placement of shares that increase the number of outstanding
shares of the issuer to 125.138.448 on trading date 6-march-2026. Besides 77.669
shares sold on the same trading date.

(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

Please see attachment on www.newsweb.no

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668400_6-03-2026 PANORO_Bajada 15%.pdf