Approval of the issuance of shares in Interoil Exploration and Production ASA Oslo Stock Exchange: IOX

DO NOT RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, PUBLICATION OR DISTRIBUTION IS ILLEGAL.

Interoil Exploration and Production ASA (the “Company”) refers to its previous announcements regarding the outstanding issuance of shares of the Company with gross proceeds of up to NOK 30.4 million at a price per share of NOK 1.20 (the “Share Issue”).

The Board of Directors of the Company has decided to allot and issue a total of 17,845,541 shares of the Share Issue at a subscription price of NOK 1.20 per share, i.e. total gross proceeds of 21,414,000 NOK for the Company.

Award notifications will be distributed to applicants on or around April 27, 2021. The payment date for the Issue of Shares is April 28, 2021. The shares allotted and issued within the framework of the Issue of Shares will be delivered following the registration of the increase in share capital linked to the Action Problem with the Norwegian Business Register.

Following the registration of the capital increase linked to the issue of shares, the Company will have a share capital of NOK 91,238,909.50 divided into 182,477,819 shares with a nominal value of 0.50 NOK each.

Following a successful public placement, the Company will begin to make the necessary preparations to drill two exploration wells in LA-47, namely Jaca.x-1 and Malevo.x-1.

Important Notice

Distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not made and may not be distributed or sent to any jurisdiction in which such distribution would be illegal or require registration or other action. Persons in possession of this advertisement or such other information are required to inform themselves and to observe these restrictions.

The securities mentioned in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”), and therefore may not be offered or sold in the United States in no registration or exemption from the registration requirements of the Securities Act and in accordance with applicable US 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 for circulation only and is directed only to persons in the United Kingdom who are (i) investment professionals falling under Section 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 under Article 49 (2) (a) to (d) of the Order (all of these persons being referred to together as “data subjects”). This communication should not be used or relied on by people who are not data subjects. Any investment or investment activity to which this communication relates is only available to the persons concerned and will only be undertaken with the persons concerned. Those who disseminate this communication must ensure that it is lawful to do so.

This announcement is for informational purposes only and should not be relied upon as a substitute for the exercise of independent judgment. It is not meant to be investment advice.

This announcement is an advertisement and not a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a market regulated and repealing Directive 2003/71 / EC (as amended) as implemented in any Member State.

This announcement was posted by Mr. Geir Arne Drangeid (Partner and Senior Advisor, First House AS) at 08:00 CET on March 27, 2021.

This information is subject to the disclosure requirements of section 5-12 of the Norwegian Securities Law.

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