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 the purchase of up to 6,468,077 common shares over a twelve-month period, starting December 5, 2025, and ending December 4, 2026 [1][5]. Summary by Sections NCIB Details - IPC is authorized to repurchase up to 6,468,077 common shares, which is approximately 5.8% of the total outstanding shares as of November 30, 2025 [1]. - The maximum daily purchase on Nasdaq Stockholm will be limited to 25% of the average daily trading volume for the preceding 20 trading days, while on TSX, it will be capped at 24,839 shares, which is 25% of the average daily trading volume of 99,360 shares over the last six months [2]. Automatic Share Purchase Plan (ASPP) - IPC has established an automatic share purchase plan (ASPP) with a designated broker to facilitate share repurchases during regulatory restrictions and blackout periods [3]. - The ASPP allows IPC to provide standard instructions to the broker during non-blackout periods, and all purchases under the ASPP will count towards the NCIB total [3]. Purchase Mechanism - Shares will be purchased on the open market at prevailing market prices, with no maximum monetary amount allocated to the NCIB at this time [4]. - The actual number of shares purchased and the timing will be determined by IPC, adhering to TSX and Nasdaq Stockholm regulations [4]. Purpose of NCIB - The primary objective of the NCIB is to reduce the outstanding share capital, which IPC believes is an effective use of capital and a way to return value to shareholders [5]. Previous NCIB Performance - IPC's previous NCIB, which allowed for the purchase of up to 7,465,356 common shares, was fully completed by September 30, 2025, at a weighted average price of CAD 20.10 per share [6]. 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 [7].