IPC Annual General Meeting to be held on May 3, 2023

International Petroleum Corporation (“IPC” or the “Corporation”) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that its Annual General Meeting of shareholders will be held at the offices of Blake, Cassels and Graydon LLP, Suite 3500, 855 - 2nd Street S.W., Calgary, Alberta, Canada T2P 4J8 on Wednesday, May 3, 2023 at 8:00 a.m. (Mountain time), for the following purposes:

To receive the audited consolidated financial statements of the Corporation for the financial year ended December 31, 2022 and accompanying report of the auditor, and the management’s discussion and analysis of the Corporation for the year ended December 31, 2022;

To set the number of directors of the Corporation at six;

To elect the six nominees of the Corporation standing for election as directors of the Corporation to hold office until the next annual meeting of Shareholders or until his or her successor is duly elected or appointed;

To appoint PricewaterhouseCoopers SA, as the auditor of the Corporation, to hold office until the next annual general meeting of Shareholders and to authorize the directors to fix the auditor’s remuneration; and

To transact such other business as may properly come before the Meeting or any adjournment(s) or postponement(s) of the Meeting.

The record date for the Annual General Meeting is March 16, 2023. The Notice of Meeting, the Management Information Circular dated March 24, 2023 (the “Information Circular”) and related Meeting materials, and the Corporation’s Annual Information Form for the year ended December 31, 2022, are available under the Corporation’s profile on SEDAR at

www.sedar.com

and on the Corporation’s website at

www.international-petroleum.com

. The Corporation is not aware of any items of business to be brought before the Meeting other than those described in the Information Circular and there will be no management presentation on the business and operations of the Corporation at the Meeting. Advice to Holders of Euroclear Sweden Registered Common Shares Shareholders who hold their common shares (“Euroclear Registered Common Shares”) through Euroclear Sweden AB, which common shares trade on the NASDAQ Stockholm, are not registered holders of common shares for the purposes of voting at the Meeting. Instead, Euroclear Registered Common Shares are registered under CDS & Co., the registration name of the Canadian Depositary for Securities. Holders of Euroclear Registered Common Shares will receive a voting instruction form (the “VIF”) by mail directly from Computershare AB (“Computershare Sweden”). Additional copies of the VIF, together with the Information Circular, can also be obtained from Computershare Sweden and are available on the Corporation’s website at

www.international-petroleum.com

. The VIF cannot be used to vote common shares directly at the Meeting. Instead, the VIF must be completed and returned to Computershare Sweden, strictly in accordance with the instructions and deadlines as further described in the instructions provided with the VIF.