Ms. Rebecca Gordon reports

INTERNATIONAL PETROLEUM CORP. ANNUAL GENERAL MEETING TO BE HELD ON MAY 8, 2024

International Petroleum Corp. will hold its annual general meeting of holders of common shares at the offices of Blake Cassels and Graydon LLP, Suite 3500, 855 2nd St. SW, Calgary, Alta., Canada, T2P 4J8, on Wednesday, May 8, 2024, at 8 a.m. Mountain Time, for the following purposes:

• To receive the audited consolidated financial statements of the corporation for the financial year ended Dec. 31, 2023, and accompanying report of the auditor;
• To set the number of directors of the corporation at eight;
• To elect the eight nominees of the corporation standing for election as directors of the corporation to hold office until the next annual meeting of shareholders or until his or her successor is duly elected or appointed;
• To appoint PricewaterhouseCoopers SA as the auditor of the corporation, to hold office until the next annual meeting of shareholders and to authorize the directors to fix the auditor's remuneration;
• To transact such other business as may properly come before the meeting or any adjournment(s) or postponement(s) of the meeting.

The record date for the meeting is March 21, 2024. The notice of meeting, the management information circular dated March 22, 2024, and related meeting materials, and the corporation's annual information form for the year ended Dec. 31, 2023, will be available under the corporation's profile on SEDAR+ and on the corporation's website.

The corporation is not aware of any items of business to be brought before the meeting other than those described in the information circular and there will be no management presentation on the business and operations of the corporation at the meeting.

Advice to holders of Euroclear Sweden registered common shares

Shareholders who hold their common shares through Euroclear Sweden AB, which common shares trade on Nasdaq Stockholm, are not registered holders of common shares for the purposes of voting at the meeting. Instead, Euroclear registered common shares are registered under CDS & Co., the registration name of the Canadian Depositary for Securities. Holders of Euroclear registered common shares will receive a voting instruction form by mail directly from Computershare AB (Computershare Sweden). Additional copies of the voting instruction form, together with the information circular, can also be obtained from Computershare Sweden and are available on the corporation's website. The voting instruction form cannot be used to vote common shares directly at the meeting. Instead, the voting instruction form must be completed and returned to Computershare Sweden, strictly in accordance with the instructions and deadlines as further described in the instructions provided with the voting instruction form.

International Petroleum 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. International Petroleum is a member of the Lundin Group of Companies. International Petroleum is incorporated in Canada and International Petroleum's shares are listed on the TSX and the Nasdaq Stockholm exchange under the symbol IPCO.

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