Panoro Energy ASA

AGM Information • May 21, 2025

Panoro Energy Announces Results of the 2025 Annual General Meeting and changes to the Board of Directors

Panoro Energy Announces Results of the 2025 Annual General Meeting and changes to the Board of Directors

Oslo, 21 May 2025 - Panoro Energy ASA (the "Company" or "Panoro" with OSE

ticker: PEN), an independent oil and gas company, held its 2025 Annual General

Meeting of Shareholders virtually through the facilities of Euronext today, and

the nominees listed in the notice of the General Meeting were elected as

directors of the Company. Mr. Julien Balkany and Mr. Torstein Sanness were

reappointed as Chairman and Deputy Chairman of the Board of Directors,

respectively. All resolutions presented for approval at the General Meeting were

duly passed. A copy of the minutes of the Annual General Meeting is available to

download from the meetings section on our website at www.panoroenergy.com and as

an enclosure to this press release.

The Company is pleased to announce the appointment of Mr. Christophe Salmon to

its Board of Directors. Mr. Salmon has extensive experience working with a broad

range of companies within the energy and global financial industries.

Mr. Salmon began his career at insurance company Euler Hermes as a credit

officer before joining BNP Paribas' internal audit department in 1995. After

advancing at BNP Paribas, he led the bank's commodity finance operations

including all oil and gas financing across the EMEA region. In 2012, Christophe

joined global commodity trading company Trafigura as CFO for Europe, the Middle

East, and Africa. Three years later, he was appointed Group CFO and member of

its board and management committee, a position he held for a decade. During his

tenure, Salmon has overseen Trafigura's financial operations through a period of

significant growth, strengthening the company's financial position and securing

crucial liquidity access in the notoriously volatile commodities market.

At the date of joining the Board Mr. Salmon held 266,665 shares in the Company

and is entitled to 24,000 share options approved in the 2025 Annual General

Meeting.

After almost a decade of valuable contribution to Panoro's Board, Mr. Garrett

Soden has not sought re-election at the 2025 Annual General Meeting. On behalf

of the Company and its shareholders, the Board of Directors extend their

sincerest appreciation to Mr. Soden for years of invaluable contributions,

insightful guidance, and unwavering commitment to the Company's success.

Julien Balkany, Chairman of the Board of Panoro, commented, "On behalf of

Panoro, I would like to thank Garrett for his invaluable contributions to the

Company over the last decade. His extensive public company experience with the

Lundin Group has helped us take Panoro from modest beginnings as a small, single

-asset company with only a handful of employees and a limited balance sheet to

the current larger, multi-country, dividend-paying E&P platform that you see

today."

Mr. Balkany, continued, "We are very pleased that Christophe is joining our

Board as chairman of the Audit Committee.  Christophe brings significant

insight, industry and banking relationships and a global perspective from his

previous leadership role as CFO of Trafigura.  We welcome his expertise to the

Board and look forward to working with him to continue creating value for our

shareholders."

Enquiries

Qazi Qadeer, Chief Financial Officer

Tel: +44 203 405 1060

Email: 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 interests in Block-G, Block S, Block EG-01 and Block EG-23 offshore

Equatorial Guinea, the Dussafu Marin, Niosi Marin and Guduma Marin Licenses

offshore southern Gabon, the TPS operated assets in Tunisia and onshore

Exploration Right 376 in South Africa.

Visit us at www.panoroenergy.com

Follow us on LinkedIn (https://www.linkedin.com/company/panoro-energy)