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Commencement of application period for Private Placement

Interoil Exploration & Production ASA
·4-min read

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.

Commencement of application period for Private Placement in Interoil Exploration and Production ASA

Interoil Exploration and Production ASA (the "Company") refers to the announcement published on 4 March 2021 in which the Company announced the signing of two transactions as well as a private placement of new shares in the Company with gross proceeds of up to the NOK equivalent of EUR 999,999 (the "Private Placement"). The Private Placement is 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. The minimum subscription amount in the private placement will be NOK 10,000.

The subscription price in the Private Placement is established at NOK 1.33 per share. This price was calculated on the basis of a 90-day, volume-weighted average price plus a 10 percent discount, as of close of trading on 3 March 2021.

The application period commences today, 8 March 2021, at 09:00 (CET) and will close on 15 March 2021 at 16:30 (CET). The Company reserves the right to close or extend the application period at any time at its sole discretion, at short notice.

Applications in the Private Placement may be made by completing and returning the attached Application Agreement to retail@dnb.no.

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

https://investor.vps.no/sc/servlet/no.vps.sc.servlets.SCLogonServlet?ISIN=XL0010024681&TSted=07910&Sig=b2742320c86ad31c54088fd2d04a833eb45441c498014eff079b37bf0f0ca1b5

Allocations of shares in the Private Placement will be made at the discretion of the Company's Board of Directors and the completion of the Private Placement is conditional upon approval by the Company's Board of Directors.

Further information regarding the Private Placement and the terms thereof, is included in the attached Application Agreement.

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.

This announcement has been published by Mr. Geir Arne Drangeid (Partner and Senior Advisor, First House AS) at 08:00 CET on 8 March 2021.

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

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