IPC announces 2018 Annual General Meeting voting results

July 11, 2018

International Petroleum Corporation (“IPC” or the “Corporation”) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce the voting results from the Corporation’s 2018 Annual General Meeting of Shareholders (the “2018 AGM”) held on July 10, 2018 in Calgary, Alberta.

Number of Directors

The number of Directors of the Corporation was set at seven.

Votes For % For Votes Against % Against
43,625,039 99.96 16,192 0.04

Election of Directors

The seven nominees listed in the Corporation’s management information circular dated May 30, 2018 (the “Circular”) were elected as Directors of the Corporation to hold office for the ensuing year.

Nominee Votes For % For Votes Withheld % Withheld
Lukas H. Lundin 42,851,412 98.19 789,819 1.81
Mike Nicholson 43,126,554 98.82 514,677 1.18
C. Ashley Heppenstall 43,357,105 99.35 284,126 0.65
Donald Charter 43,371,109 99.38 270,122 0.62
Chris Bruijnzeels 43,627,869 99.97 13,362 0.03
Torstein Sanness 43,040,531 98.62 600,700 1.38
Daniella Dimitrov 43,631,765 99.98 9,466 0.02

Appointment of Auditor

PricewaterhouseCoopers AG was appointed as auditor of the Corporation for the ensuing year and the Directors of the Corporation were authorized to fix the remuneration of the auditor.

Votes For % For Votes Withheld % Withheld
43,639,337 99.98 6,838 0.02

Performance and Restricted Share Plan

The Corporation’s Performance and Restricted Share Plan (the “Plan”), as more particularly described in the Circular, was approved.

Votes For % For Votes Against % Against
37,477,164 85.88 6,164,067 14.12

As also described in the Circular, the amendments to the Corporation’s existing Stock Option Plan became effective following the 2018 AGM approval of the Plan.

Additional Information

IPC further announces that it has selected Sweden as the home member state pursuant Chapter 2, Section 8 of
the Swedish Securities Market Act (Sw. lag (2007.528 om värdepappersmarknaden)).

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Q2 2018