Panoro Energy ASA

Major Shareholding Notification • Aug 3, 2021

Disclosure of large shareholding

Disclosure of large shareholding

On trade date Friday 30/07/2021 funds managed by Cobas Asset Management, SGIIC, S.A. holds 5,02% of voting rights of PANORO ENERGY ASA (ISIN: NO0010564701).

(a) the name of the issuer of the shares: PANORO ENERGY ASA

(b) the date on which the proportion of shares held reached, exceeded or fell below the

thresholds set in the Securities Trading Act section 4-2, subsection (2), 30/07/2021

(c) name of the entity subject to the disclosure obligation, including the name of the

shareholder,Cobas Asset Management, SGIIC, S.A. a Management Company based in Madrid with delegated voting rights on behalf of multiple managed portfolios

(d) the number of shares the notification encompasses,5.693.710 shares

(e) the subsequent situation with regard to voting rights, including the percentage of the

votes and shares of the company held by the entity concerned, 5,02%

(f) what percentage of the votes and shares of the company the entity concerned holds in

the form of rights to shares,None

(g) the circumstance that triggered the disclosure obligation and whether such

circumstance applied to the entity concerned himself or to any related party (close

associate) as mentioned in the Securities Trading Act section 2-5,48.424 shares acquired on 30-jul-2021

(h) the chain of controlled undertakings through which the shares or rights are owned, Cobas Asset Management, SGIIC, S.A. as investment manager, authorized to exercise voting rights attached to the shares under management on a discretionary basis.

(i) where the notification concerns rights to shares as mentioned in the Securities

Trading Act section 4-2, subsection (5), the notification shall also contain a

description of the rights, including information on the date and time that the rights Not applicable

will or can be exercised and the date and time of their expiry.