International Petroleum Corporation Announces Completion of Annual Normal Course Issuer Bid and Updated Share Capital

Core Viewpoint - International Petroleum Corporation (IPC) has successfully completed its current normal course issuer bid (NCIB), repurchasing approximately 6.2% of its total outstanding common shares, and plans to renew the NCIB for an additional twelve months from December 2025 to December 2026 [1][2][5]. Summary by Sections Share Repurchase Program - IPC repurchased a total of 7,465,356 common shares between December 2024 and September 2025, which is about 6.2% of the total outstanding shares at the start of the NCIB [1]. - The renewed NCIB for 2025/2026 will allow IPC to repurchase up to approximately 6.5 million common shares, representing about 5.8% of the total outstanding shares [1]. Recent Share Repurchases - During the period from September 22 to 26, 2025, IPC repurchased a total of 141,764 common shares under the NCIB [2]. - Of these, 99,063 shares were repurchased on Nasdaq Stockholm, while 42,701 shares were purchased on the Toronto Stock Exchange (TSX) [3][4]. Share Cancellation - All repurchased shares will be cancelled. In September 2025, IPC cancelled 600,437 common shares from the NCIB and an additional 50,000 shares purchased under other exemptions [5]. - As of September 30, 2025, the total number of issued and outstanding IPC common shares is 112,180,065, with 24,538 shares held in treasury. After cancellation, the total will be 112,155,527 [5]. Company Overview - IPC is an international oil and gas exploration and production company with assets in Canada, Malaysia, and France, and is part of the Lundin Group of Companies [6].