Oslo, 7 May 2021

Reference is made to the stock exchange notice published by Interoil Exploration and Production ASA (the "Company") on 27 April 2021 the approval of an issue of new shares in the Company (the "Share Issue").

Following adjustment of the final number of shares based on timely payments, the final number of shares which was subscribed and issued in the Share Issue is 17,783,042 shares at a subscription price of NOK 1.20 per share, resulting in gross proceeds of approximately NOK 21.3 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 91,081,064.50, divided into 182,162,129 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.

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