Quarterly Repayment of Unsecured Convertible Bonds

Pantheon Resources plc (AIM: PANR) ("Pantheon" or "the Company"), focused on development of its Kodiak and Ahpun oil fields (owning a 100% working interest in each), containing independently evaluated recoverable contingent resources of c. 1.6 billion barrels ("Bbbl") of ANS crude and 6.7 trillion cubic feet ("Tcf") of natural gas in close proximity to pipeline and transportation infrastructure on Alaska's North Slope, announces that it has elected to pay (i) the quarterly principal repayment of US$2.45 million and (ii) the quarterly interest payment of US$0.224 million (collectively, the "Quarterly Repayment") in respect of its senior unsecured convertible bonds due June 2026 (the "Convertible Bonds"), through the issuance of new shares. Pursuant to the terms of the Convertible Bond agreement a total of 14,244,459 new ordinary shares (the "New Ordinary Shares") will be issued in settlement of this Quarterly Repayment. Application is being made to AIM for the admission to trading of the 14,244,459 New Ordinary Shares which are expected to admit on or around 20th September 2024 ("Admission").

After settlement of the Quarterly Repayment, the principal remaining under the Convertible Bond will be reduced by US$2.45 million to US$17.15 million.

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