Pharos Energy plc has announced the purchase and cancellation of 75,873 ordinary shares of £0.05 each in the Company through Peel Hunt LLP. The highest and lowest price paid per share was 22.5000 pence, with a volume weighted average price paid per share also at 22.5000 pence. Following the purchase and cancellation, the Company will have 431,875,433 Ordinary Shares of £0.05 each in issue, with 9,122,268 Ordinary Shares held in treasury. The figure of 422,753,165 may be used by shareholders as the denominator for calculating whether they are required to notify their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

Since the initiation of the earlier phase of the Company's share buyback programme announced on 20 July 2022, Pharos Energy plc has purchased a total of 20,469,994 Ordinary Shares for cancellation at a cost (excluding stamp duty and dealing expenses) of £4,839,954.65. The detailed information of the individual trades made by Peel Hunt as part of the Programme is provided in accordance with Article 5(1)(b) of the UK version of Regulation (EU) No. 596/2014 (the "Market Abuse Regulation").

The Company's Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, can be contacted for further information. The Company's media contact is Camarco, and they can be reached at the provided telephone number. This transaction in own shares is a significant move for Pharos Energy plc, and the details provided offer transparency and insight into the Company's recent activities.