Panoro Energy ASA

Declaration of Voting Results & Voting Rights Announcements • May 7, 2021

Panoro Energy – Mandatory Notification of Voting Rights - 2021 AGM

In connection with the annual general meeting scheduled for 27 June 2021 (the "AGM"), chairman of the board of directors Julien Balkany has received proxies without voting instructions representing 3,279,181 shares and votes, equal to 2.91% of all issued shares and votes. The proxies are valid only for the AGM.

In addition, Mr. Balkany controls, directly or indirectly, a total of 3,582,970 shares and votes which, together with received proxies, means that Mr. Balkany controls 6,862,101 shares and votes, equal to 6%, at the AGM. Consequently, the 5% disclosure threshold has been crossed.

This information is subject to the disclosure requirements pursuant to section 4-3 of the Securities Trading Act.

Oslo, Panoro Energy ASA

7 May 2021

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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