Overview of Recent Share Repurchase Program
International Petroleum Corporation (IPC) is delighted to share that it has completed its current normal course issuer bid (NCIB), having purchased 7,465,356 common shares during the program, from late 2024 through September 2025. This acquisition accounts for around 6.2% of the total outstanding shares at the start of the program. As IPC prepares to renew this initiative, they anticipate continuing the share buyback plan from late 2025 to late 2026, pending approval from the Toronto Stock Exchange (TSX).
Details of the Share Repurchases
IPC actively repurchased shares between September 22 and 26, 2025, acquiring a total of 141,764 common shares under the ongoing NCIB framework. This includes 99,063 shares acquired on Nasdaq Stockholm, with all repurchases coordinated by Pareto Securities AB on behalf of IPC. In addition, during this time frame, the corporation also repurchased 42,701 shares on the TSX, facilitated by ATB Securities Inc.
Understanding the NCIB Regulations
The implementation of IPC's NCIB adheres to strict regulations set forth in the Market Abuse Regulation and relevant guidelines from the Toronto Stock Exchange and Nasdaq Stockholm. These rules are designed to provide clarity and transparency in share repurchase activities, ensuring compliance with Canadian and Swedish securities laws.
Impact of Share Cancellations
Following the completion of this repurchase initiative, all shares acquired will be promptly canceled. In September 2025 alone, IPC canceled 600,437 shares repurchased under the program, along with 50,000 shares purchased under different exemptions. As of September 30, 2025, the total number of outstanding IPC shares stands at 112,180,065, with only 24,538 of these shares held in treasury. Following the cancellation process, this number will adjust to 112,155,527 outstanding shares.
International Petroleum Corporation Business Outlook
International Petroleum Corporation focuses on oil and gas exploration and production, boasting an impressive portfolio of assets located in various regions, including Canada and Malaysia. The strategic positioning within these markets puts IPC in a favorable position for both organic and external growth opportunities. Being part of the esteemed Lundin Group, IPC cultivates a robust foundation to ensure the sustainable development of its resources.
Looking Ahead
The ongoing efforts in share repurchase signify IPC’s commitment to returning value to its shareholders. By curtailing the number of shares in circulation, the corporation aims to enhance overall shareholder equity and drive future growth. As market conditions evolve, IPC continues to monitor opportunities for expansions that align with its strategic vision.
Contact Information for Inquiries
If you are seeking additional information regarding IPC’s operations or recent activities, please feel free to reach out to:
Rebecca Gordon
SVP Corporate Planning and Investor Relations
Email: rebecca.gordon@international-petroleum.com
Phone: +41 22 595 10 50
Alternatively, you may contact:
Robert Eriksson
Media Manager
Email: reriksson@rive6.ch
Phone: +46 701 11 26 15
Frequently Asked Questions
What is the purpose of IPC's share repurchase program?
The NCIB allows IPC to buy back its shares to promote shareholder value and manage share structure efficiently.
How many shares were repurchased under the NCIB?
IPC repurchased a total of 7,465,356 shares, accounting for about 6.2% of its total outstanding shares.
When is IPC planning to renew its NCIB?
The renewal is anticipated for December 2025, pending approval from the Toronto Stock Exchange.
What regulations govern IPC's share repurchase activities?
IPC’s activities are guided by the Market Abuse Regulation and policies applicable to both the Toronto Stock Exchange and Nasdaq Stockholm.
How will the share cancellations affect IPC’s outstanding shares?
As a result of the cancellations, IPC’s outstanding shares will reduce to 112,155,527, impacting shareholder equity positively.
