Announces Results of Normal Course Issuer Bid (August 7, 2023)

www.nasdaqomx.com/transactions/markets/nordic/corporate-actions/stockholm/repurchases-of-own-shares

A detailed breakdown of the transactions conducted on Nasdaq Stockholm during the period of August 1 to 4, 2023 according to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is available with this press release on IPC’s website:

www.international-petroleum.com/investors/#press

. During the same period, IPC purchased a total of 33,000 IPC common shares on the TSX. All of these share repurchases were carried out by ATB Capital Markets Inc. on behalf of IPC. All common shares repurchased by IPC under the NCIB will be cancelled. As at August 4, 2023, the total number of issued and outstanding IPC common shares is 130,214,920 with voting rights, of which IPC holds 98,000 common shares in treasury. Since December 5, 2022 up to and including August 4, 2023, a total of 7,441,379 IPC common shares have been repurchased under the NCIB through the facilities of the TSX and Nasdaq Stockholm. A maximum of 9,333,859 IPC common shares may be repurchased over the period of twelve months commencing December 5, 2022 and ending December 4, 2023, or until such earlier date as the NCIB is completed or terminated by IPC.