Panoro Energy ASA

Panoro Energy: Disclosure of Change in Major Shareholding

Oslo, 25 August 2022 - Panoro Energy ASA ("Panoro" or the "Company") with OSE

Ticker: "PEN") confirms that following the previously disclosed resolution by

the board of directors of the Company to distribute shares in PetroNor E&P ASA

as a dividend in specie, 92,126,288 shares have been delivered to eligible

shareholders of Panoro. Following such delivery, the Company now holds 4,451,249

shares in PetroNor E&P ASA, which represents 0.31% of all outstanding shares and

votes in PetroNor E&P ASA. Consequently, the threshold of 5% holding of shares

and votes has been crossed.

This announcement is made pursuant to the Continuing Obligations of Euronext

Oslo Børs.

Enquiries

Qazi Qadeer, Chief Financial Officer

Tel: +44 203 405 1060

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 a producing interest in Block-G, offshore Equatorial Guinea, the Dussafu

License offshore southern Gabon, the TPS operated assets, Sfax Offshore

Exploration Permit and Ras El Besh Concession, offshore Tunisia and

participation interest in an exploration Block 2B, offshore South Africa.

Visit us at www.panoroenergy.com

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