Panoro Energy ASA

Capital/Financing Update • Oct 31, 2025

Key information in connection with redemption of entire bond loan

Key information in connection with redemption of entire bond loan

Reference is made to the stock exchange announcement published by Pandion Energy AS (“Pandion” or “Pandion Energy”) on 22 July 2025, wherein Pandion announced that it had entered into an agreement to sell its participating interests in three assets comprising seven production licenses on the Norwegian Continental Shelf (NCS) to INPEX Idemitsu Norge AS (the “Transaction”).

As noted in that stock exchange notification, the Transaction, once completed, represents a mandatory prepayment event under Pandion Energy’s outstanding bond issue “Pandion Energy AS 22/26 9,75% USD C” (ISIN NO0012535816) (the “Bond Issue”).

All capitalised terms used but not defined in this stock exchange notice shall have the meaning ascribed to such terms in the Bond Terms.

A Mandatory Prepayment Event has occurred as of 31 October 2025 and Pandion Energy will redeem all of the Outstanding Bonds pursuant to Clause 10.5 (Mandatory early redemption due to a Mandatory Redemption Event) of the Bond Terms and, accordingly, at a price equal to the applicable call price as set out in Clause 10.2 (Voluntary early redemption Call Option) of the Bond Terms.

The Bonds will be redeemed at a price equal to 102.4375 % of the Nominal Amount for each redeemed Bond (plus accrued unpaid interest on the redeemed amount) on the Mandatory Redemption Repayment Date falling on 5 November 2025 and record date being 3 November 2025.

In accordance with the ABM Issuer Rules section 3.2.2 (1) item 6, and the relevant associated notice, Pandion Energy provides the following key information:

Issuer: Pandion Energy AS

ISIN for the bond loan: ISIN NO 001 2535816

Original Maturity Date: 3 June 2026

New maturity Date: 5 November 2025

Redemption price: 102.4375%

Other information: N/A

For more information, please contact:

Jan Christian Ellefsen, CEO Pandion Energy AS

M: + 47 917 44 899

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

This information is published in accordance with the ABM Issuer Rules section 3.2.2 (1) item 6, and the relevant associated notice.