Mr. Majid Shafiq reports

I3 ENERGY ORDINARY SHARE CANCELLATION

i3 Energy PLC has noted that the time limit for shareholders in Toscana Energy Income Corp. to claim their ordinary shares in the company from Odyssey Trust Company pursuant to the company's acquisition of Toscana by way of a plan of arrangement involving, among others, the company and Toscana, has now expired. At the time of expiry, Odyssey held 25,503 ordinary shares in the company (the trust shares) and the trust shares on the expiry of the time limit reverted to the company to be held in treasury in accordance with the terms of the arrangement.

On May 29, 2023, the company cancelled the trust shares that were held in treasury. The ordinary shares cancelled represented approximately 0.002 per cent of the issued share capital of the company.

Following the above cancellation, as at the date of this announcement, the company has 1,201,874,464 ordinary shares, with a nominal value of 0.0001 pound sterling each, in issue. Shareholders may use this figure of ordinary shares as the denominator by which they are required to notify their interest in, or change their interest in, the company under the disclosure guidance and transparency rules.

About i3 Energy PLC

i3 Energy is an oil and gas company with a low-cost, diversified, growing production base in Canada's most prolific hydrocarbon region, the Western Canadian sedimentary basin, and appraisal assets in the North Sea with significant upside.

The company is well positioned to deliver future growth through the optimization of its existing 100-per-cent-owned asset base and the acquisition of long-life, low-decline conventional production assets.

i3 is dedicated to responsible corporate practices and the environment, and places high value on adhering to strong environmental, social and governance (ESG) practices. i3 is proud of its performance to date as a responsible steward of the environment, people and capital management. The company is committed to maintaining an ESG strategy, which has broader implications for long-term value creation, as these benefits extend beyond regulatory requirements.