Pharos Energy PLC has announced the purchase and cancellation of 39,301 ordinary shares of £0.05 each in the Company through Peel Hunt LLP as part of its share buyback programme. The highest and lowest price paid per share was 23.0020 pence, with a volume-weighted average price paid per share also at 23.0020 pence. Following the purchase and cancellation, the Company will have 429,399,389 Ordinary Shares of £0.05 each in issue, with 9,122,268 Ordinary Shares held in treasury.

Since the initiation of the earlier phase of the Company's share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 22,946,038 Ordinary Shares for cancellation at a cost (excluding stamp duty and dealing expenses) of £5,357,988.85. The Company has provided detailed information of the individual trades made by Peel Hunt as part of the Programme, in accordance with the Market Abuse Regulation.

The Company's Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, are available for further information. Camarco can also be contacted for inquiries. This update provides shareholders with the necessary information for calculating their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.