IPC Announces Results of Normal Course Issuer Bid and Updated Share Capital (August 31, 2026)

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 224,832 IPC common shares (ISIN: CA46016U1084) during the period of August 24 to 31, 2026 under IPC’s previously announced normal course issuer bid / share repurchase program (NCIB).

IPC’s NCIB, announced on December 3, 2025, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange (TSX) and Nasdaq Stockholm and applicable Canadian and Swedish securities laws.

During the period of August 24 to 31, 2026, IPC repurchased a total of 149,832 IPC common shares on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of IPC.

A summary and detailed breakdown of the transactions conducted on Nasdaq Stockholm during the period of August 24 to 31, 2026 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/news-and-media/press-releases.

During the same period, IPC purchased a total of 75,000 IPC common shares on the TSX. All of these share repurchases were carried out by ATB Securities Inc. on behalf of IPC.

All common shares repurchased by IPC under the NCIB will be cancelled. During August 2026, IPC cancelled 652,448 common shares repurchased under the NCIB. As at August 31, 2026, the total number of issued and outstanding IPC common shares is 112,174,304 with voting rights, of which IPC holds 75,000 common shares in treasury.

A total of 727,448 IPC common shares have been repurchased under the NCIB through the facilities of the TSX and Nasdaq Stockholm up to August 31, 2026. A maximum of 6,468,077 IPC common shares may be repurchased up to December 4, 2026, or until such earlier date as the NCIB is completed or terminated by IPC.