Oslo, 22 May 2026 - Following the approval by the Ordinary General Meeting
("2026 AGM") of Panoro Energy ASA ("Panoro" or the "Company" with OSE Ticker:
PEN) held on 21 May 2026, the Company announces an award of 24,000 options
("Board Options") granted to the Mr. John Hamilton which will vest equally over
a three-year period each at the date of the Annual General Meetings of upcoming
years. Each Board Option entitles the holder to one ordinary share in the
Company. Once vested, the options are exercisable at NOK 34.39 per share. The
exercise price, as per the approved resolution in the 2026 AGM, has been
determined using Volume-Weighted Average Price of Panoro's share from and
including the date of the publication of the 2026 AGM notice to the date of the
2026 AGM meeting i.e. from 27 April 2026 to 21 May 2026. The exercise period is
limited to 5 years from the award date i.e. 21 May 2026 and only applicable to
the vested Board Options that are eligible for exercise.

In addition, Mr. Hamilton holds 878,139 shares and holds 433,886 Restricted
Share Units in the Company, as of the date of this announcement.

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 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)

This information is subject to the disclosure requirements pursuant to section 5
-12 and section 4-2 of the Norwegian Securities Trading Act.
and section 4-2 of the Norwegian Securities Trading Act.\