Closing of US$35 million Convertible Bond Issuance

25 March 2025

Pantheon Resources plc

Closing of US$35 million Convertible Bond Issuance

Pantheon Resources plc ("Pantheon" or the "Company"), the AIM-quoted oil and gas exploration company with 100% working interests in projects spanning 258,000 acres adjacent to transportation and pipeline infrastructure on the Alaska North Slope, is pleased to announce that further to its announcements on 20 and 28 February 2025 that the Company has now entered into the definitive documentation for and has issued US$35 million in aggregate principal amount of senior convertible bonds due March 2028 (the "Convertible Bonds") to Sun Hung Kai & Co. Limited and its affiliates, clients and funds managed or advised by them. The key terms of the Convertible Bonds, are as set out in the announcement of 20 February 2025.

-ENDS-

Further information:

UK Corporate and Investor Relations Contact Pantheon Resources plc

Justin Hondris [email protected]

Nominated Adviser and BrokerCanaccord Genuity LimitedHenry Fitzgerald-O'Connor, James Asensio, Charlie Hammond+44 20 7523 8000

Public Relations Contact BlytheRayTim Blythe, Megan Ray, Matthew Bowld+44 20 7138 3204

USA Investor Relations ContactMZ Group

Lucas Zimmerman, Ian Scargill+1 949 259 4987 [email protected]