Oslo, 25 August 2022 - Panoro Energy ASA ("Panoro" or the "Company") with OSE
Ticker: "PEN") confirms that following the previously disclosed resolution by
the board of directors of the Company to distribute shares in PetroNor E&P ASA
as a dividend in specie, 92,126,288 shares have been delivered to eligible
shareholders of Panoro. Following such delivery, the Company now holds 4,451,249
shares in PetroNor E&P ASA, which represents 0.31% of all outstanding shares and
votes in PetroNor E&P ASA. Consequently, the threshold of 5% holding of shares
and votes has been crossed.

This announcement is made pursuant to the Continuing Obligations of Euronext
Oslo Børs.