Oslo, 17 January 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. The share buyback
programme has been extended to the 2025 Annual General Meeting to be held on 21
May 2025.

For the period from and including 13 January - 17 January 2025, Panoro purchased
a total of 70,000 shares at an average price of NOK 30.9615 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)|
+-------------+-------+---------+-----------------+-----------------------+
|16 January 25|OSE    |35,000   |30.5034          |1,067,619              |
+-------------+-------+---------+-----------------+-----------------------+
|17 January 25|OSE    |35,000   |31.4196          |1,099,686              |
+-------------+-------+---------+-----------------+-----------------------+
|Period total |OSE    |70,000   |30.9615          |2,167,305              |
+-------------+-------+---------+-----------------+-----------------------+
|Previously   |OSE    |1,593,300|31.0557          |49,481,116             |
|disclosed buy|       |         |                 |                       |
|-backs       |       |         |                 |                       |
|under the    |       |         |                 |                       |
|programme    |       |         |                 |                       |
|(accumulated)|       |         |                 |                       |
+-------------+-------+---------+-----------------+-----------------------+
|Program total|OSE    |1,663,300|31.0518          |51,648,421             |
+-------------+-------+---------+-----------------+-----------------------+

The issuer's holding of own shares: 1,663,300

Following the completion of the above transactions, Panoro owned a total of
1,663,300 of its own shares, corresponding to 1.42% 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 and Block EG-01 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)