Pharos Energy PLC has announced the purchase and cancellation of 72,327 ordinary shares of £0.05 each in the Company through Peel Hunt LLP. The highest and lowest price paid per share was 21.0400 pence, with a volume-weighted average price paid per share also at 21.0400 pence. Following the purchase and cancellation, the Company will have 430,228,512 Ordinary Shares of £0.05 each in issue, with 9,122,268 Ordinary Shares held in treasury. The figure of 421,106,244 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 22,116,915 Ordinary Shares for cancellation at a cost (excluding stamp duty and dealing expenses) of £5,172,495.06. The detailed information of the individual trades made by Peel Hunt as part of the Programme is provided in accordance with the UK version of Regulation (EU) No. 596/2014 (the "Market Abuse Regulation").

For further information, interested parties can contact Pharos Energy plc or Camarco. The company's Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, can be reached at Tel: 0207 7747 2000. Camarco can be contacted at Tel: 020 3757 4980.