IPC Announces Results of Normal Course Issuer Bid (September 28, 2026)

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 148,500 IPC common shares (ISIN: CA46016U1084) during the period of September 21 to 25, 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 September 21 to 25, 2026, IPC repurchased a total of 100,000 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 September 21 to 25, 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 48,500 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. As at September 25, 2026, the total number of issued and outstanding IPC common shares is 112,159,304 with voting rights, of which IPC holds 431,638 common shares in treasury.

A total of 1,099,086 IPC common shares have been repurchased under the NCIB through the facilities of the TSX and Nasdaq Stockholm up to September 25, 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.