Interoil receives formal approval to its acquisition in 2020 of participating interests in five concessions in Santa Cruz, Argentina

Oslo, 10 February 2023

Interoil Exploration and Production ASA is pleased to announce that the Government of the Province of Santa Cruz has granted formal authorization to the assignment to the Company of a 8.34% participating interest in and to the exploitation and exploration concessions CA-10 "PALERMO AIKE”, CA-9 "OCÉANO”, CA-6 "CHORRILLOS”, CA-4 "MOY AIKE” and CA-1 "CAMPO BREMEN”.

This Government approval has been given by means of Decree 0121/23 of the Province of Santa Cruz, dated January 31, 2023, and published in the Official Gazette of the Province on February 7, 2023. The participating interests in the five aforementioned concessions, all of them located in the Province of Santa Cruz, were acquired by the Company from Roch S.A., an Argentine company, in 2020 (ref. announcement dated 11 January 2020).

In addition to holding the participating interests referred to above, the Company serves as the operator under the joint venture agreement governing the activities that are being carried out in such concessions.

Please direct any further questions to: ir@interoil.no

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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 of several production and exploration assets in Colombia and Argentina. Interoil currently employs approximately 50 people and is headquartered in Oslo.

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