IPC Announces Results of Normal Course Issuer Bid and Updated Share Capital (January 31, 2025)

January 31, 2025

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IPC Announces Results of Normal Course Issuer Bid and Updated Share Capital (January 31, 2025)

January 31, 2025311.22 KB

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 336,608 IPC common shares (ISIN: CA46016U1084) during the period of January 27 to 31, 2025 under IPC’s normal course issuer bid / share repurchase program (NCIB).

IPC’s NCIB, announced on December 3, 2024, 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 January 27 to 31, 2025, IPC repurchased a total of 275,000 IPC common shares on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of IPC.

The summary and detailed breakdown of the transactions conducted on Nasdaq Stockholm during the period of January 27 to 31, 2025 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 61,608 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. During January 2025, IPC cancelled 1,387,544 common shares repurchased under the NCIB. As at January 31, 2025, the total number of issued and outstanding IPC common shares is 117,781,927 with voting rights and IPC holds 101,852 common shares in treasury.

Since December 5, 2024 up to and including January 31, 2025, a total of 2,202,626 IPC common shares have been repurchased under the NCIB through the facilities of the TSX and Nasdaq Stockholm. A maximum of 7,465,356 IPC common shares may be repurchasedover the period of twelve months commencing December 5, 2024 and ending December 4, 2025, or until such earlier date as the NCIB is completed or terminated by IPC.