Oslo, 12 May 2025 - In connection with the annual general meeting scheduled for 21 May 2025 (the "AGM"), chairman of the board of directors Julien Balkany has received proxies without voting instructions representing 3,499,635 shares and votes, equal to 2.99% of all issued shares and votes. The proxies are valid only for the AGM.

In addition, Mr. Balkany controls, directly or indirectly, a total of 3,812,211 shares and votes which, together with received proxies, means that Mr. Balkany controls 7,311,846 shares and votes, equal to 6.25%, at the AGM. Consequently, the 5% disclosure threshold has been crossed.

This information is subject to the disclosure requirements pursuant to section 4-3 of the Securities Trading Act.

Oslo, Panoro Energy ASA