Lucky Panda never promises an outcome
A 3x3 grid with 5 fixed paylines hides when the bonus comes. Free Spins can randomly trigger on a WILD hit, and nobody can predict how often that happens. The 96.50% RTP describes the return over many spins, not the outcome of one session. Whatever the RTP, each session of Lucky Panda is random, so a lucky or unlucky run says nothing about the next.
96.50% is the only RTP version listed for Lucky Panda. Which version Playcroco runs is shown only in the game rules, so read them before your first bet. The lowest bet is A$0.05 and the highest is A$240 here, so pick a stake that suits you.
x2,000 is the most Lucky Panda can pay, and a win at that ceiling is reached very rarely. Multiply your bet by x2,000 to find the figure, and treat it as a ceiling, not a target. A bigger stake raises the money value of that ceiling, but it does not make the ceiling more likely.