Oslo, 25 January 2026: PetroNor E&P ASA ("PetroNor" or the "Company") refers to
previous market updates on the investigation by the National Authority for
Investigation and Prosecution of Economic and Environmental Crime in Norway
("Økokrim"). 

The Company has been informed by Økokrim about indictments in the matter
relating to amongst others Hemla Africa Holding AS ("Hemla"). Hemla is a 100%
indirect subsidiary of the Company, and the majority shareholder of Hemla E&P
Congo, which is the holder of a 20 per cent interest in the PNGF Sud licenses in
Congo Brazzaville.

As follows from the information provided by Økokrim, Økokrim has decided to
indict Hemla in relation to suspected corruption committed on behalf of Hemla in
the Congo. Økokrim has decided not to press charges relating to suspected market
manipulation on behalf of PetroNor. 

The company categorically contests the indictment of Hemla and welcomes the
opportunity to have the case thoroughly examined in court. 

The Company will provide additional information on the expected timing of the
court proceedings as it becomes available. However, it is already clear that a
final decision may take time, and in the meantime, the Company will continue to
operate in the normal course of business.

This stock exchange announcement is considered inside information pursuant to
the EU Market Abuse Regulation (EU regulation 596/2014) and was published by
Chris Butler, Group Financial Controller of PetroNor E&P ASA on 25 January 2026
at 17:15 CET. 

For further information, please contact:
Investor Relations
Email: ir@petronorep.com
www.petronorep.com

About PetroNor E&P ASA
PetroNor E&P ASA is an Africa-focused independent oil and gas exploration and
production company listed on Oslo Børs with the ticker PNOR. PetroNor E&P ASA
holds exploration and production assets offshore West Africa, specifically the
PNGF Sud licenses in Congo Brazzaville, and OML-113 in Nigeria.