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Update re share issue: Major shareholders confirm subscription


Oslo, 28 June 2022

Interoil Exploration and Production ASA (the "Company") is pleased to inform that Integra Oil and Gas SA (“Integra”) and International Capital Markets Group (“ICMG”), two leading and long-term shareholders in the Company, have each confirmed subscription of shares worth USD 300,000 in the ongoing fund raise. The combined commitment of the two represents approximately 20 per cent of the maximum number of shares offered in the ongoing share issue.

For both Integra and ICMG this represents a significant additional investment in Interoil, signaling their strong belief in the Company and its plans.

“We are grateful for the continued support of these long-term investors, which have a deep understanding of business opportunities and energy markets in Latin America in general, and in Argentina in particular,” said Leandro Carbone, CEO of Interoil Exploration and Production ASA.

The subscription period in the Share Issue (as defined in a NewsWeb announcement dated 14 June 2022) closes on 1 July 2022. The Share Issue is directed towards Norwegian investors and international institutional investors pursuant to and in compliance with applicable exemptions from relevant registration, filing and prospectus requirements, and subject to other applicable selling restrictions.

The Share Issue comprises the issue of up to 23,076,923 new shares in the Company at a subscription price of NOK 1.30 per share. The minimum subscription amount in the Share Issue will is NOK 10,000. Allocations of shares in the Share Issue will be made at the discretion of the Company's Board of Directors and the completion of the Share Issue is conditional upon approval by the Company's Board of Directors.

For more information about the Share Issue, please study previous announcements in this regard and the prospectus which is available on the Company’s website here: Prospectus | Interoil

Important Notice

The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering or their securities in the United States or to conduct a public offering of securities in the United States.

This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only for relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.

This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market and repealing Directive 2003/71/EC (as amended) as implemented in any Member State.

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Please direct any further questions to:

This information is subject of the disclosure requirements of section 5-12 of the Norwegian Securities Trading Act.

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Interoil Exploration and Production ASA is a Norwegian based exploration and production company - listed on the Oslo Stock Exchange with focus on Latin America. The Company is operator and license holder of several production and exploration assets in Colombia and Argentina with headquarter in Oslo.

Interoil Main Office:
c/o Advokatfirmaet Schjødt AS
Ruseløkkveien 14
NO-0251 Oslo, Norway

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