IPC Updated Share Capital

December 30, 2019

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) reports the following, in accordance with the Swedish Financial Instruments Trading Act:

Following the cancellation of 3,929,196 common shares repurchased by IPC under the share repurchase program announced on November 7, 2019, the total number of issued and outstanding common shares of the Corporation is 159,790,869 common shares with voting rights. IPC does not hold any common shares in treasury.