Panoro Energy ASA

Transaction in Own Shares • May 31, 2024

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

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

Oslo, 31 May 2024 - Panoro Energy ASA ("Panoro" or the "Company") (OSE: PEN)

initiated a share buyback program May 23, 2024 to repurchase up to 100 million

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 27 May through 31 May 2024, Panoro purchased a

total of 200,000 shares at an average price of NOK 35.8829 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 Volume Weighted average Total daily

Venue share price (NOK) transaction value

(NOK)

27 May 2024 OSE 40,000 35.4115 1,416,460

28 May 2024 OSE 40,000 35.9909 1,439,636

29 May 2024 OSE 40,000 35.9538 1,438,152

30 May 2024 OSE 40,000 36.0694 1,442,596

31 May 2024 OSE 40,000 35.9934 1,439,736

Period total OSE 200,000 35.8824 7,176,580

Previously OSE - - -

disclosed buy

-buys

under the

programme

(accumulated)

Program total OSE 200,000 35.8824 7,176,580

The issuer's holding of own shares: 200,000

Following the completion of the above transactions, Panoro owned a total of

200,000 of its own shares, corresponding to 0.17% 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 License offshore southern Gabon, the TPS

operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession,

offshore Tunisia, and onshore Technical Co-operation Permit 218 in South

Africa.

Visit us at www.panoroenergy.com

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