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

Core Viewpoint - International Petroleum Corporation (IPC) has received approval from the Toronto Stock Exchange (TSX) to renew its normal course issuer bid (NCIB), allowing it to repurchase up to 6,468,077 common shares over a twelve-month period, which represents approximately 5.8% of its outstanding shares as of November 30, 2025 [1]. Group 1: NCIB Details - The NCIB allows IPC to purchase shares on the TSX and/or Nasdaq Stockholm, with a maximum daily purchase limit of 25% of the average daily trading volume for the respective exchanges [2]. - IPC's daily purchases on the TSX are capped at 24,839 shares, based on an average daily trading volume of 99,360 shares over the past six months [2]. - An automatic share purchase plan (ASPP) has been established to facilitate share repurchases during regulatory restrictions and blackout periods, with all purchases under the ASPP counted towards the NCIB total [3]. Group 2: Purchase Mechanics - Shares will be purchased at the prevailing market price and in compliance with applicable securities laws, with no maximum monetary amount allocated for the NCIB at this time [4]. - The actual number of shares purchased and the timing will be determined by IPC, subject to regulatory limits [4]. - Any shares repurchased under the NCIB will be cancelled [4]. Group 3: Purpose and Previous NCIB - The primary purpose of the NCIB is to reduce the outstanding share capital, which IPC believes is an effective use of capital and beneficial for shareholders [5]. - IPC's previous NCIB, which allowed for the purchase of up to 7,465,356 shares, was completed by September 30, 2025, at a weighted average price of CAD 20.10 per share [6]. Group 4: Company Overview - IPC is an international oil and gas exploration and production company with assets in Canada, Malaysia, and France, positioning it for both organic and inorganic growth [7].