Oslo, 21 February 2025 - Panoro Energy ASA ("Panoro" or the "Company") (OSE:
PEN) initiated a share buyback program on May 23, 2024 to repurchase up to NOK
100 million in value of the Company's common shares in open market transactions
on the OSE pursuant to an agreement with Arctic Securities AS.

For the period from and including 17 February - 21 February 2025, Panoro
purchased a total of 135,000 shares at an average price of NOK 27.6894 per
share. The transactions effected through the agreement with Arctic comprise all
the transactions effected by or on behalf of the Company during the period.

Transaction overview

+--------------+-------+---------+-----------------+-----------------------+
|Date          |Trading|Volume   |Weighted average |Total daily cumulative |
|              |Venue  |         |share price (NOK)|transaction value (NOK)|
+--------------+-------+---------+-----------------+-----------------------+
|17 February 25|OSE    |27,000   |27.3849          |739,392                |
+--------------+-------+---------+-----------------+-----------------------+
|18 February 25|OSE    |27,000   |27.6446          |746,404                |
+--------------+-------+---------+-----------------+-----------------------+
|19 February 25|OSE    |27,000   |27.9801          |755,463                |
+--------------+-------+---------+-----------------+-----------------------+
|20 February 25|OSE    |27,000   |27.5792          |744,638                |
+--------------+-------+---------+-----------------+-----------------------+
|21 February 25|OSE    |27,000   |27.8584          |752,177                |
+--------------+-------+---------+-----------------+-----------------------+
|Period total  |OSE    |135,000  |27.6894          |3,738,074              |
+--------------+-------+---------+-----------------+-----------------------+
|Previously    |OSE    |2,142,300|30.5623          |65,473,516             |
|disclosed buy |       |         |                 |                       |
|-backs        |       |         |                 |                       |
|under the     |       |         |                 |                       |
|programme     |       |         |                 |                       |
|(accumulated) |       |         |                 |                       |
+--------------+-------+---------+-----------------+-----------------------+
|Program total |OSE    |2,277,300|30.3920          |69,211,590             |
+--------------+-------+---------+-----------------+-----------------------+

The issuer's holding of own shares: 2,277,300

Following the completion of the above transactions, Panoro owned a total of
2,277,300 of its own shares, corresponding to 1.9473% of Panoro's share
capital.

Appendix:

An overview of all transactions made under the Company's repurchase program
and its agreement with Arctic Securities that have been carried out during the
above-mentioned time period is attached to this report and available at
www.newsweb.no.

Contact information

For further information, please contact: investors@panoroenergy.com

About Panoro

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 blocks
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)