Ms. Rebecca Gordon reports

INTERNATIONAL PETROLEUM CORPORATION UPDATED SHARE CAPITAL

International Petroleum Corp. has provided an update in accordance with the Swedish Financial Instruments Trading Act.

Following the cancellation of 572,506 common shares repurchased by IPC under the normal course issuer bid/share repurchase program, the total number of issued and outstanding common shares of the corporation is 125,898,960 common shares with voting rights as at Feb. 29, 2024, of which IPC holds 70,600 common shares in treasury.

About International Petroleum Corp.

International Petroleum (IPC) is an international oil and gas exploration and production company with a high-quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC's shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol IPCO.