Panoro Energy ASA

Pre-Annual General Meeting Information • May 3, 2022

Panoro Energy: Notice of Annual General Meeting 2022

Oslo, 3 May 2022 – Panoro Energy ASA, ("Panoro" or the "Company" with OSE Ticker: PEN) today announces that the Annual General Meeting ("AGM") scheduled for 25 May 2022 will be held at 10am CEST at the Company's offices located at Schjødt law- firm, Ruseløkkveien 14, Oslo, Norway.

The formal notice of the AGM is attached to this release and can also be downloaded from our website at www.panoroenergy.com.

Proposed appointment of a new Director to the Board

In addition to recommending the re-election of the current Board for a period of one year, the Nomination Committee proposes a sixth member, Grace Reksten Skaugen, be appointed to the Board.

Ms. Skaugen is a board member and co-founder of the Norwegian Institute of Directors. She holds several board positions in listed companies including the Swedish investment company Investor, Euronav Tankers and Lundin Energy as well as PJT Partners, a US investment bank. She is a Trustee of the International Institute for Strategic Studies (IISS) in London. She was deputy chair of Statoil (now Equinor), from 2012 to 2015 and served on its board for thirteen years. Ms. Skaugen is a physicist by education and holds a PhD in laser physics from Imperial College in London.

Enquiries

For further information, please contact: Investors: 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 a producing interest in Block-G, offshore Equatorial Guinea, the Dussafu License offshore southern Gabon, OML 113 offshore western Nigeria (held-for-sale, subject to completion), 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.

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This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.