IOX – Completion of private placement and new share capital registered

Oslo, 26 March 2021

Reference is made to the stock exchange notice published by Interoil Exploration and Production ASA (the "Company") on 11 March 2021 regarding the approval of a private placement of new shares in the Company (the "Private Placement").

Following adjustment of the final number of shares based on timely payments, the final number of shares which was subscribed and issued in the Private Placement is 7,265,576 shares at a subscription price of NOK 1.33 per share, resulting in gross proceeds of approximately NOK 9.7 million.

The share capital increase related to the issuance of the new shares has now been registered with the Norwegian Register of Business Enterprises. The Company's new share capital is NOK 82,189,543.50, divided into 164,379,087 shares, each with a par value of NOK 0.50.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.