IPC to Arrange Fixed Income Investor Meetings

International Petroleum Corporation ("IPC" or the "Corporation") (TSX, Nasdaq Stockholm: IPCO) announces that it is planning to arrange fixed income investor meetings in connection with a potential issuance of rated senior unsecured bonds in the Nordic bond market. The contemplated bond issue is expected to be rated B+ by S&P Global Ratings and B1 by Moody’s.

IPC has mandated Arctic Securities and Pareto Securities as Joint Lead Managers and Bookrunners, and SpareBank 1 Markets as Co-Manager, to arrange a series of fixed income investor meetings commencing Tuesday, January 11, 2022. Subject to market conditions, a USD 300 million 5-year senior unsecured bond issuance may follow. The purpose of the bond issuance would be to repay IPC’s existing indebtedness under bank credit facilities and for general corporate purposes.