PA Resources Notes Exercise of Convertible Bonds

On September 10, 2009, 2,930,697 new shares in PA Resources AB (publ) were registered with the Swedish Companies
Registration Office as a consequence of convertible bonds with a nominal value of SEK 46,891,152 being exercised for conversion. The conversion price is 16 SEK per share.

Following the conversions, PA Resource's share capital is SEK 79,722,350.50 divided on 159,444,701 shares. The total loan amount of outstanding convertible bonds amounts to SEK 1,117,220,880 after the conversion.

The registered share capital increase relates to applications for conversion filed during the first week of September 2009. The conversion period runs throughout the month of September.

The new shares are listed on the Oslo Stock Exchange and NASDAQ OMX Nordic Exchange Stockholm, after the new shares are registered with the Companies Registration Office.

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