Panoro Energy ASA - Mandatory notification of trade in connection with Private Placement

20 Mar 2026 13:44 CET

Oslo, 20 March 2026 - Reference is made to the stock exchange release by Panoro
Energy ASA (the "Company" or "Panoro") on 25 February 2026 regarding the
successful placement of a private placement (the "Private Placement") of new
shares (the "Offer Shares").

Further reference is made to the stock exchange announcement by the Company
earlier today where the Company published the minutes from the extraordinary
general meeting of the Company held earlier today where, amongst other things,
the share capital increase pertaining Tranche 2 of the Private Placement was
approved.

The following primary insiders of the Company have been allocated and will
receive Offer Shares in Tranche 2 of the Private Placement in accordance with
their respective pre-commitments, each such share allocated at the Offer Price
of NOK 23.35:

· Mr. Julien Balkany, Executive Chairman of the Board of Directors: 275,599
Offer Shares.

· Mr. Christophe Salmon, Board Member: 400,000 Offer Shares.

· Mrs. Gunnvor Ellingsen, Board Member: 35,000 Offer Shares.

· Mr. Eric d'Argentré, COO: 80,000 Offer Shares.

· Mr. Qazi Qadeer, CFO: 15,000 Offer Shares.

Please see attached notification form in accordance with the Market Abuse
Regulation (MAR) article 19 for more information.

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

Enquiries

Qazi Qadeer, Chief Financial Officer

Tel: +44 203 405 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

668985_PEN_PDMR_forms_T2_20_March_2026.pdf
668985_Panoro_Energy_ASA_Mandatory_notification_of_trade_in_connection_with_Private_Placement.pdf