International Petroleum Corporation Announces TSX Approval for Renewal of Normal Course Issuer Bid

Executive Summary

• The Toronto Stock Exchange approved International Petroleum Corp.’s notice to commence a new Normal Course Issuer Bid (NCIB) allowing the purchase of up to 6,468,077 common shares (≈5.8% of outstanding shares or 10% of public float).
• The NCIB will run for twelve months from December 5 2025 to December 4 2026, with daily purchase limits set at 25 % of average trading volume on Nasdaq Stockholm and a fixed cap of 24,839 shares per day on the TSX.
• An Automatic Share Purchase Plan (ASPP) has been pre‑cleared by the TSX to enable purchases during non‑blackout periods; all repurchased shares will be cancelled, reducing outstanding share capital and returning value to shareholders.

Key Details

• Maximum Shares: 6,468,077 common shares (≈5.8 % of total outstanding as of 30 Nov 2025; ≈10 % of public float).
• Program Period: 5 Dec 2025 – 4 Dec 2026 (or earlier if completed/terminated).
• Daily Purchase Limits:
• Nasdaq Stockholm – up to 25 % of the average daily volume for the prior 20 trading days (subject to block‑purchase exceptions).
• TSX – capped at 24,839 shares per day (25 % of average daily TSX volume of 99,360 shares over the six months ended 30 Nov 2025), with similar block‑purchase exemptions.
• Automatic Share Purchase Plan (ASPP):
• Pre‑cleared by the TSX; allows IPC to submit standard purchase instructions during non‑blackout periods.
• Instructions cannot be varied or suspended during blackout periods; ASPP terminates automatically at NCIB expiry unless terminated earlier by IPC or broker.
• Purchase Mechanics: Shares will be bought on the open market (TSX and/or Nasdaq Stockholm) at prevailing market prices; no monetary cap is set for the program.
• Use of Proceeds / Purpose: All repurchased shares will be cancelled, reducing outstanding share capital and returning value to shareholders – deemed an efficient use of capital by management.
• Previous NCIB Reference: The prior NCIB (up to 7,465,356 shares) ran from 5 Dec 2024 to 30 Sep 2025; shares were acquired at a weighted‑average price of CAD 20.10 per share.

Notable Quotes

(No direct quotes provided in the release.)