NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Oslo, 1 July 2022

Interoil Exploration and Production ASA (the "Company") refers to its previous announcements regarding the Company's ongoing share issue with gross proceeds of up to NOK 30 million at a price per share of NOK 1.30 (the "Share Issue").

The application period for the Share Issue will expire today, on 1 July 2022, at 16:30 (CEST).

A national prospectus (the "Prospectus") setting out the terms of the Share Issue and an application form are available on the Company's web site at the following link:

https://www.interoil.no/?page_id=108

The Share Issue remains 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.

Norwegian investors with access to VPS investor services may also access the Prospectus and submit applications online by using the following link:

https://investor.vps.no/sc/servlet/no.vps.sc.servlets.SCLogonServlet?ISIN=XL0010025571&TSted=07912&Sig=192d5b8fd9328b96cfaae33f7cec1014504b3e06d1461f24e1a318266d1179e3

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.

Further information regarding the Share Issue and the terms thereof, is included in the Prospectus.

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: ir@interoil.no
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.