Panoro Energy ASA

Capital/Financing Update • May 25, 2022

Pandion Energy AS successfully places USD 75 million bond

Pandion Energy AS successfully places USD 75 million bond

Pandion Energy AS (“Pandion Energy”) is pleased to announce a successful bond issue of USD 75 million with a tenor of 4 years. The bond issue attracted strong interest from Norwegian and international investors. The purpose of the new bond issue is refinancing of the existing NOK 400 million senior unsecured bonds with maturity in April 2023 (ISIN NO 001 0820103) (“PANE01 PRO”) as well as general corporate purposes. Upon closing of the new bond issue, Pandion Energy will issue a call notice for full redemption of PANE01 PRO.

ABG Sundal Collier, DNB Markets and Pareto Securities acted as Joint Lead Managers for the bond issue.

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For further information, please contact:

CEO, Jan Christian Ellefsen, telephone: +47 917 44 899

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About Pandion Energy:

Pandion Energy is an independent, full cycle oil and gas company, participating in the discovery, appraisal, development and production of oil and gas resources on the Norwegian continental shelf.

www.pandionenergy.no