Regulatory press release

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

Oslo, 06 December 2024 - Panoro Energy ASA ("Panoro" or the "Company") (OSE: PEN) initiated a share buyback program on May 23, 2024 to repurchase up to NOK 100 million in value of the Company's common shares in open market transactions on the OSE pursuant to an agreement with Arctic Securities AS.

For the period from and including 29 November - 06 December 2024, Panoro purchased a total of 204,100 shares at an average price of NOK 26.9816 per share. The transactions effected through the agreement with Arctic comprise all the transactions effected by or on behalf of the Company during the period.

Transaction overview

Date	Trading Venue	Volume	Weighted average share price (NOK)	Total daily cumulative transaction value (NOK)
29 November 24	OSE	70,000	26.5857	1,860,999
02 December 24	OSE	37,100	26.6848	990,006
03 December 24	OSE	37,000	27.6786	1,024,108
05 December 24	OSE	30,000	27.3851	821,553
06 December 24	OSE	30,000	27.0090	810,270
Period total	OSE	204,100	26.9816	5,506,936
Previously disclosed buy-backs under the programme (accumulated)	OSE	1,281,500	31.8821	40,856,871
Program total	OSE	1,485,600	31.2088	46,363,807

The issuer's holding of own shares: 1,485,600

Following the completion of the above transactions, Panoro owned a total of 1,485,600 of its own shares, corresponding to 1.27% of Panoro's share capital.

Appendix:

An overview of all transactions made under the Company's repurchase program and its agreement with Arctic Securities 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 and Block EG-01 offshore Equatorial Guinea, the Dussafu Marin, Niosi Marin and Guduma Marin blocks offshore southern Gabon, the TPS operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia, and onshore Exploration Right 376 in South Africa.

Visit us at www.panoroenergy.com.