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Panoro Energy - Exercise and Cash Settlement of Share Options

Panoro Energy ASA (PEN) · publisert 2026-03-23 17:39 · vis på NewsWeb

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PersonRolleTypeVolumPrisDatoISINHandelsplassTolket via
Mr. Julien Balkany Chairman of the Company’s Board of Directorsexercise48 00017,34 NOK2026-03-23NO0010564701Outside a trading venue (XOFF) 4. Comment #35221885/1 2 (6) Reference is made to the board option program approved by the annual general meeting of the Company on 27 May 2021 and the subsequent grant of share options to board members announced by the Company on 28 May 2021. The options exercised will be settled in cash by the Company paying a cash amount equal to the difference between the volume-weighted trading share price of Company shares on the 23 March 2026 of NOK 30.4424 and the exercise price per option of NOK 17.34, multiplied by the number of options covered by the exercise notice. No shares have been issued by the Company in connection with this exercise of share options. #35221885/1 3 (6) PANORO ENERGY ASA: MANDATORY NOTIFICATION OF TRADE 5. Details of the primary insider / person closely associated a) Name Mr. Torstein Sanness 6. Reason for the notification a) Position/status Deputy Chairman of the Company’s Board of Directors b) Initial notification /Amendment Initial notification 7. Details of the issuer a) Name Panoro Energy ASA b) LEI 5967007LIEEXZXGWM030 7.1 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conductedrules
Mr. Julien Balkany Chairman of the Company’s Board of Directorsexercise24 00017,34 NOK2026-03-23NO0010564701Outside a trading venue (XOFF) 8. Comment #35221885/1 4 (6) Reference is made to the board option program approved by the annual general meeting of the Company on 27 May 2021 and the subsequent grant of share options to board members announced by the Company on 28 May 2021. The options exercised will be settled in cash by the Company paying a cash amount equal to the difference between the volume-weighted trading share price of Company shares on the 23 March 2026 of NOK 30.4424 and the exercise price per option of NOK 17.34, multiplied by the number of options covered by the exercise notice. No shares have been issued by the Company in connection with this exercise of share options. #35221885/1 5 (6) PANORO ENERGY ASA: MANDATORY NOTIFICATION OF TRADE 9. Details of the primary insider / person closely associated a) Name Ms. Alexandra Herger 10. Reason for the notification a) Position/status Member of the Company’s Board of Directors b) Initial notification /Amendment Initial notification 11. Details of the issuer a) Name Panoro Energy ASA b) LEI 5967007LIEEXZXGWM030 11.1 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conductedrules

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Meldingstekst

Oslo, 23 March 2026 - In accordance with the grant of share options made to Board members of Panoro Energy ASA ("Panoro" or the "Company") following approval at the 2021 Annual General Meeting (the "Board Options"), the exercise period of five years from the date of grant lapses on 27 May 2026. Please refer to the stock exchange announcement published by the Company on 28 May 2021 for further information about the Board Options. The following Board members who were granted Board Options in 2021 have now exercised Board Options as follows: · Mr Julien Balkany (Chairman), who has exercised 48,000 Board Options · Mr Torstein Sanness (Deputy Chairman), who has exercised 24,000 Board Options · Ms Alexandra Herger (Board Member), who has exercised 24,000 Board Options The Board Options will be settled in cash based on Panoro's volume weighted average share price ("VWAP") on Euronext Oslo Børs for 23 March 2026 equalling NOK 30.4424 per share. The exercise price for the Board Options is NOK 17.34 per share, which gives a net cash payment of NOK 13.1024 per Board Option exercised. Following this exercise of Board Options the total outstanding number of Board Options and current shareholding of the above-mentioned Board members is as follows: +---------+--------+---------+-------------------+-----------+ |Name |Title |Number of|Shareholding in the|Number of | | | |Options |Company (number of |Options | | | |Exercised|shares) |Outstanding| +---------+--------+---------+-------------------+-----------+ |Mr Julien|Chairman|48,000 |3,896,931 |- | |Balkany | | | | | +---------+--------+---------+-------------------+-----------+ |Mr |Deputy |24,000 |185,289 |- | |Torstein |Chairman| | | | |Sanness | | | | | +---------+--------+---------+-------------------+-----------+ |Ms |Board |24,000 |20,950 |- | |Alexandra|Member | | | | |Herger | | | | | +---------+--------+---------+-------------------+-----------+ The Company's issued share capital remains unchanged at 125,138,448 shares following cash settlement of the Board Options. Please see attached notification form in accordance with the Market Abuse Regulation article 19. This information is subject to the disclosure requirements pursuant to the EU Market Abuse Regulation (EU 2014/596) article 19 and section 5-12 of the Norwegian Securities Trading Act. Enquiries Qazi Qadeer, Chief Financial Officer Tel: +44203 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)