Month: September 2026

Investment expected to enhance domestic manufacturing capacity and reduce foreign dependence on critical minerals

Anticipated to expand ELMT’s resilient global tungsten mining network and processing capabilities

ELMT secures up to $2 billion agreement to support the National Defense Stockpile

Company to host investor call today at 9 a.m. ET

PORTLAND, Maine, Sept. 14, 2026 (GLOBE NEWSWIRE) — The Elmet Group Co. (NASDAQ: ELMT) (“ELMT” or the “Company”), a U.S.-based provider of critical materials, precision-engineered components, and advanced high-energy systems, today announced a $450 million committed investment from the United States Department of War (“DoW”) to accelerate ELMT’s U.S. manufacturing capabilities and expand agreements with key supply-chain partners.

The investment will be used to increase domestic tungsten manufacturing, secure long-term access to critical raw materials, and strengthen mining and processing capacity. This includes an anticipated more than $165 million investment in ELMT’s operations in Maine; Michigan; and Ohio, which manufacture and process tungsten, molybdenum, and other advanced materials and components.

The funding will also support ELMT’s investments in mining and processing operations in the United States, Australia, and Spain, helping to establish a resilient supply chain. To support these efforts, ELMT will launch Elmet Refining & Trading (“ERT”), a new division responsible for coordinating sourcing, processing, and material delivery across the Company’s expanding global network.

“This investment represents an important step toward securing a resilient supply of tungsten, a material that is critical to America’s defense, industrial, and economic future,” said The Elmet Group CEO and Chairman Peter V. Anania. “The Elmet Group’s vertically integrated production capabilities, sourcing strategy, and commitment to expanding capacity positions our company to play a meaningful role in strengthening supply chains. We are honored by the Administration’s and DoW’s confidence in The Elmet Group and look forward to using this investment to expand capacity, strengthen supply security, and support our customers’ growing needs. Following our successful IPO earlier this year and recent expansion into Europe, we believe this investment will further accelerate our growth and reinforces The Elmet Group’s position as a leading Western supplier of tungsten products and other advanced materials and components.”

Tungsten is a strategically important metal valued for its ability to withstand extreme heat, pressure, and wear, making it essential to national defense and a wide range of advanced industrial applications. Its unique properties make it irreplaceable in certain high-performance components used across aerospace, energy, semiconductor, medical, and industrial markets, underscoring the need for reliable and secure sources of supply. ELMT is a supplier to critical U.S. defense programs, including Patriot, Javelin, AEGIS, Trident II, and THAAD, as well as Virginia- and Columbia-class submarines, and is the only U.S.-owned, vertically-integrated producer of tungsten servicing the full breadth of critical end markets.

The DoW’s investment in ELMT is an initiative launched under its newly established Economic Defense Unit (“EDU”), which was created earlier this year to coordinate defense-related economic initiatives aimed at accelerating U.S. defense industrial base production. This is part of the U.S. government’s broader effort to build resilient domestic and allied supply chains for the critical minerals, materials, and components.

“The Department is committed to empowering the American warfighter and workforce,” said George K. Kollitides II, Director of the Economic Defense Unit. “We are proud to invest in Elmet Technologies to bring tungsten-processing capacity home to the United States and strengthen the industrial might that powers and protects our way of life.”

Transaction Overview

Under terms of the agreement, the DoW has agreed to invest $450 million to support ELMT’s efforts to expand tungsten mining, processing, and manufacturing capacity. The investment will be funded through an initial $200 million drawdown at closing, followed by additional drawdowns. In connection with the investment, the DoW will receive redeemable preferred equity, warrants representing up to 19.9% of ELMT’s common stock on a post-transaction basis, and the right to appoint one independent director to the Company’s Board and one non-voting Board observer.

To implement the Company’s obligations under the agreements, the Company entered into a restricted entity compliance plan with Continental Stock Transfer & Trust Company, as rights agent (the “Plan”), designed to deter a Restricted Entity (as defined in the Plan), or a group including a Restricted Entity, from acquiring beneficial ownership of 10% or more of the Company’s outstanding common stock. Other than with respect to Restricted Entities, it does not limit any person’s ability to acquire shares of the Company’s common stock or to make offers to acquire, merge or combine with the Company.

Together, the initiatives funded by the investment are designed to expand domestic manufacturing, strengthen global mining and processing capacity. ELMT will be involved with securing a, vertically integrated tungsten supply chain serving critical defense and commercial end markets. Specifically, ELMT plans to:

• Invest more than $165 million in its U.S. manufacturing facilities in Lewiston, Maine; Coldwater, Michigan; and Euclid, Ohio to expand production capacity, increase tungsten output and modernize infrastructure supporting critical defense, aerospace, and industrial applications, including Patriot, Phalanx, JDAM, F-35, and rocket programs.
• Allocate approximately $150 million to Blue Moon’s Springer Tungsten Complex in Imlay, Nevada, forming and operating a majority-owned joint venture with Blue Moon Metals and EQ Resources of Australia to restart and expand ammonium paratungstate (“APT”) conversion capacity at the facility.
• Establish Elmet Refining and Trading (“ERT”), a new division that will coordinate sourcing, refining, and delivery activities across a diversified supply chain, helping ensure reliable long-term access to tungsten for the U.S. and its Allies.
• Support strategic mining, processing, and commercial partnerships in the U.S. and allied countries, including investments in the United States, Australia, and Spain, creating a more resilient supply chain for critical materials independent of China.
• Secure long-term tungsten feedstock and processing capacity through strategic investments and offtake agreements, strengthening access to mined material while supporting the development of additional Western refining and conversion capabilities.

Tungsten Resiliency Framework: Up to $2 Billion National Defense Stockpile Agreement

Separately, Elmet Technologies, a subsidiary of ELMT, has been awarded an indefinite delivery/indefinite quantity (“IDIQ”) contract by the Defense Logistics Agency (“DLA”) to support the rebuilding of the U.S. National Defense Stockpile and strengthen the long-term resiliency of the nation’s tungsten supply chain. The contract has a ceiling value of up to $2 billion, including a guaranteed funded commitment of $150 million, and covers the supply of tungsten ores, concentrates and sodium tungstate to DLA Strategic Materials.

Importantly, ELMT does not intend to begin delivering material into the National Defense Stockpile until sufficient incremental supply becomes available through the mining investments, offtake agreements, and processing capacity expansions announced today, ensuring stockpile replenishment does not come at the expense of existing American manufacturers. Deliveries will be phased in coordination with DLA as new production capacity comes online from ELMT’s approved supplier network, including Blue Moon Metals’ Springer Mine in Nevada and EQ Resources’ Mt. Carbine Mine in Australia and Barruecopardo Mine in Spain.

The contract includes a five-year base ordering period through August 30, 2031, with a two-year extension option through August 30, 2033, providing a long-term framework to strengthen domestic and allied sources of a critical material essential to U.S. defense and industrial capabilities.

Investor Call

ELMT will host a conference call for investors to discuss the investment today at 9:00 a.m. ET. Details can be found at https://event.choruscall.com/mediaframe/webcast.html?webcastid=8mKspJRt. A live webcast of the investor call, as well as related presentation materials, will be available through the Investor Relations section of the company’s website (https://investors.theelmetgroup.com/). A replay of the webcast will be available for 30 days following the presentation.

Advisors
Goldman Sachs & Co. LLC and Cantor Fitzgerald & Co. are acting as financial advisors, Akin Gump Strauss Hauer & Feld LLP and Ellenoff Grossman & Schole LLP are acting as legal advisors, and Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to ELMT.

About The Elmet Group
The Elmet Group is a U.S.-based provider of critical materials, precision-engineered components, and advanced high-energy systems for the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries. The Company operates through three divisions: Critical Materials Components (CMC), Engineered Microwave Products (EMP), and Elmet Refining & Trading (ERT), leveraging materials science and precision engineering expertise to deliver high-performance solutions. The Elmet Group is dedicated to strengthening domestic manufacturing capabilities to support the U.S. and its Allies’ needs in both critical materials and advanced high-power microwave systems.

Media Contact
media@theelmetgroup.com

Investor Contact
Tom Colton and Greg Bradbury
Gateway Group, Inc.
ELMT@gateway-grp.com
949-574-3860

Forward-looking statements disclaimer
The information in this press release includes forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. These statements generally relate to future events or our future financial or operating performance and include statements regarding (i) the ultimate size of (a) the DoW’s investment, (b) ELMT’s investments into modernizing and expanding its existing facilities, (c) ELMT’s investment in the Blue Moon Springer Tungsten Complex and (d) ELMT’s investments in creating a network of strategic partnerships to diversify Tungsten supply; (ii) Elmet’s ability to: (a) establish a secure, diversified and vertically integrated Tungsten supply chain while expanding domestic manufacturing and strengthening allied sources of critical minerals, (b) expand relationships with key supply-chain partners, (c) secure long-term access to critical raw materials, processing and refining assets, (d) modernize and expand its existing critical infrastructure facilities, (e) effectively meet demand for its products and (f) restart production at the Blue Moon Springer Tungsten Complex on the anticipated timeline and at the anticipated cost; (iii) the creation of ERT enhancing ELMT’s control over feedstock sourcing, processing capacity, material flows and support to customers as well as strengthening its competitive position in strategic end markets; (iv) ELMT’s ability to successfully navigate turbulent raw materials markets; (viii) ELMT’s ability to successfully perform under, and realize the anticipated benefits of, its indefinite delivery/indefinite quantity contract with the Defense Logistics Agency; (ix) ELMT’s ability to realize the anticipated benefits of partnerships, including with Blue Moon Metals and EQ resources as well as the successful operation of joint ventures with such parties; and (x) ELMT’s future performance, expected outcomes and strategic initiatives.
When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Elmet’s Registration Statement on Form S-1, as amended (File No. 333-294725) and subsequent filings Elmet makes with the Securities and Exchange Commission. Elmet undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

TORONTO, Sept. 14, 2026 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 46,354 IPC common shares (ISIN: CA46016U1084) during the period of September 7 to 11, 2026 under IPC’s previously announced normal course issuer bid / share repurchase program (NCIB).

IPC’s NCIB, announced on December 3, 2025, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange (TSX) and Nasdaq Stockholm and applicable Canadian and Swedish securities laws.

During the period of September 7 to 11, 2026, IPC repurchased a total of 26,354 IPC common shares on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of IPC.

A summary and detailed breakdown of the transactions conducted on Nasdaq Stockholm during the period of September 7 to 11, 2026 according to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is available with this press release on IPC’s website: www.international-petroleum.com/news-and-media/press-releases.

During the same period, IPC purchased a total of 20,000 IPC common shares on the TSX. All of these share repurchases were carried out by ATB Securities Inc. on behalf of IPC.

All common shares repurchased by IPC under the NCIB will be cancelled. As at September 11, 2026, the total number of issued and outstanding IPC common shares is 112,159,304 with voting rights, of which IPC holds 247,027 common shares in treasury.

A total of 914,475 IPC common shares have been repurchased under the NCIB through the facilities of the TSX and Nasdaq Stockholm up to September 11, 2026. A maximum of 6,468,077 IPC common shares may be repurchased up to December 4, 2026, or until such earlier date as the NCIB is completed or terminated by IPC.

International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

For further information, please contact:

	Rebecca Gordon		Robert Eriksson
	SVP Corporate Planning and Investor Relations	Or	Media Manager
	rebecca.gordon@international-petroleum.com		reriksson@rive6.ch
	Tel: +41 22 595 10 50		Tel: +46 701 11 26 15

This information was submitted for publication, through the contact persons set out above, at 11:00 CEST on September 14, 2026.

Forward-Looking Statements 
This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements with respect to: the intention and ability of IPC to acquire common shares under the NCIB, including the timing of any such purchases; the number of common shares to be cancelled and the timing of such cancellations; and the return of value to IPC’s shareholders as a result of any common share repurchases.

The forward-looking statements are based on certain key expectations and assumptions made by IPC, including expectations and assumptions concerning: the duration and impact of tariffs that are currently in effect on goods exported from or imported into Canada, and that other than the tariffs that are currently in effect, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, reenacts tariffs that are currently suspended, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas; prevailing commodity prices and currency exchange rates; applicable royalty rates and tax laws; interest rates; future well production rates and reserve and contingent resource volumes; operating costs; IPC’s ability to maintain its existing credit ratings; IPC’s ability to achieve its performance targets; the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the successful completion of acquisitions and dispositions and that IPC will be able to implement its standards, controls, procedures and policies in respect of any acquisitions and realize the expected synergies on the anticipated timeline or at all; the benefits of acquisitions; the state of the economy and the exploration and production business in the jurisdictions in which IPC operates and globally; the availability and cost of financing, labour and services; IPC’s intention to complete share repurchases under the normal course issuer bid program, including the funding of such share repurchases, existing and future market conditions, including with respect to the price of IPC’s common shares, and compliance with respect to applicable limitations under securities laws and regulations and stock exchange policies; and the ability to market crude oil, natural gas and natural gas liquids successfully.

Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

These include, but are not limited to: general global economic, market and business conditions; the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; innovation and cybersecurity risks related to IPC’s systems, including costs of addressing or mitigating such risks; the ability to attract, engage and retain skilled employees; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; geopolitical conflicts, including current and potential future conflicts in Ukraine, the Middle East, South America and elsewhere, and their potential impact on, among other things, global market conditions; political or economic developments, including, without limitation, the risk that (i) the tariffs that are currently in effect on goods exported from or imported into Canada continue in effect for an extended period of time, the tariffs that have been threatened are implemented, that tariffs that are currently suspended are reactivated, the rate or scope of tariffs are increased, or new tariffs are imposed, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed or threatened to be imposed by the U.S. on other countries and retaliatory tariffs imposed or threatened to be imposed by other countries on the U.S. will trigger a broader global trade war which could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Corporation, including by decreasing demand for, and the price of oil, and natural gas, disrupting supply chains, increasing costs, causing volatility in the global financial markets, and limiting access to financing; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations. Readers are cautioned that the foregoing list of factors is not exhaustive.

Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in IPC’s annual information form for the year ended December 31, 2025 (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”), in the management’s discussion and analysis (MD&A) for the three and six months ended June 30, 2026 (See “Risk Factors”, “Cautionary Statement Regarding Forward-Looking Information” and “Reserves and Resources Advisory”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

New joint venture with Rönesans Infrastructure aims to deliver PlatformDIGITAL® to Türkiye, supporting rising demand for cloud, AI and enterprise digital infrastructure

AUSTIN, Texas, Sept. 14, 2026 (GLOBE NEWSWIRE) — Digital Realty (NYSE: DLR), the world’s largest cloud- and carrier-neutral data center platform, and Rönesans Infrastructure, one of the largest investment companies in Türkiye and a top 50 international contractor on ENR International Contractors List, today announced the formation of a strategic joint venture (JV) to develop and operate next-generation data centers across Türkiye. The JV extends PlatformDIGITAL® into the Turkish market, supporting the continued growth of the country’s digital economy and increasing demand for cloud, AI, connectivity, and enterprise digital infrastructure.

Positioned at the crossroads of Europe, the Middle East and Asia, Türkiye serves as a critical hub for international internet traffic, data flows and regional connectivity. Combined with its large population, rapidly growing digital economy and rising demand for cloud and AI infrastructure, Türkiye represents a compelling growth opportunity for global cloud providers, enterprises, network operators and content platforms. More broadly, Türkiye extends Digital Realty’s regional footprint, supporting the development of a highly connected digital infrastructure platform spanning Southeastern Europe, the Eastern Mediterranean and the strategic connectivity corridor linking Europe, the Middle East and Asia.

The JV’s first investment will be a state-of-the-art data center campus in Ankara, designed to support more than 22 megawatts (MW) of carrier-neutral IT capacity, to support Türkiye’s growing demand for cloud, enterprise and connectivity infrastructure. With land, power and permitting already secured, early construction work has already commenced. Scheduled for completion in 2028, the first facility is designed to establish one of Türkiye’s leading digital infrastructure hubs, strategically positioned to support national enterprises, public sector organizations and digital service providers while bringing content and applications closer to Turkish end users.

“We are delighted to partner with Rönesans Infrastructure to establish Digital Realty’s presence in Türkiye, one of the most compelling emerging digital infrastructure market opportunities in the region,” said Greg Wright, Chief Investment Officer, Digital Realty. “By combining Rönesans’ deep expertise and development capabilities with Digital Realty’s global platform, customer relationships and operational experience, this joint venture is well positioned to support growing demand for cloud, AI and enterprise infrastructure while creating a strong foundation for long-term growth across Türkiye.”

Beyond Ankara, the JV intends to expand its footprint into Istanbul, with plans to develop an additional data center in Türkiye’s largest commercial, financial and connectivity hub. Together, the Ankara and Istanbul facilities are expected to create a highly connected and resilient digital infrastructure platform capable of serving both domestic and international customers while supporting the continued growth and digital transformation of Türkiye’s economy.

“Expanding our footprint to Türkiye represents a key milestone in our EMEA growth strategy,” said Paula Cogan, Managing Director EMEA, Digital Realty. “Positioned at the crossroads of Europe, the Middle East and Asia, Türkiye is emerging as an increasingly important hub for digital transformation, cloud adoption and AI innovation. This expansion complements our growing presence across Southern Europe and the Eastern Mediterranean, strengthens connectivity across our regional platform, and provides customers with greater flexibility, resilience and reach as they scale their digital infrastructure globally.”

Dr. Erman ılıcak, President Emeritus of Rönesans Holding, said, “Having delivered more than $10 billion of private sector investment in Türkiye, Rönesans has consistently focused on sectors that strengthen our country’s long-term competitiveness and create lasting value. Today, digital infrastructure is one of the most critical enablers of economic growth, innovation and technological progress. We are delighted to enter into this partnership with Digital Realty. Over the years, we have built strong and enduring relationships with international partners including IFC, TotalEnergies, Meridiam, GIC, Samsung and Sojitz, and we look forward to fostering an equally successful long-term partnership with Digital Realty. Together, we aim to enhance Türkiye’s digital infrastructure, support its ambitions as a regional technology hub, and create sustainable value for businesses, communities and future generations.”

About Digital Realty
Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL®, the company’s global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation, from cloud and digital transformation to emerging technologies like artificial intelligence (AI), and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected data communities that matter to them with a global data center footprint of 300+ facilities in 55+ metros across 30+ countries on six continents. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and X.

About Rönesans Infrastructure
Rönesans Infrastructure is an international infrastructure investment, development, and operating platform with integrated construction capabilities, focused on delivering critical assets that support sustainable economic growth and long-term prosperity. Active across social, transport, renewable energy and digital infrastructure, the company combines its infrastructure development, investment, construction and operating capabilities across the project lifecycle. With more than 30 years of international experience, Rönesans Infrastructure has built a strong track record in the development, financing, construction and operation of large-scale and complex infrastructure projects. The company has built long-term partnerships with leading international equity partners, including TotalEnergies, Meridiam, Samsung and Sojitz, and established relationships with blue-chip international creditors, including IFC, EBRD, and DEG. These relationships reflect its strong international network and ability to develop, finance and deliver large-scale infrastructure investments alongside globally recognised institutions. Supported by the broader Rönesans Infrastructure’s workforce of more than 40,000 professionals* across more than 30 countries, Rönesans Infrastructure combines global expertise with proven execution capabilities and deep local market knowledge to deliver infrastructure that supports sustainable development, economic resilience and long-term value creation. *Including subcontractors.

For Additional Information
Rémi Andreassian
Digital Realty
+33 1 53 56 69 23
randreassian@digitalrealty.com

Investor Relations
Jordan Sadler / Jim Huseby
Digital Realty
+1 (737) 281-0101
InvestorRelations@digitalrealty.com

Ipek Duman Okek
Ronesans Infrastructure
+90 535 333 57 69
ipek.okek@ronesans.com

Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the JV, the European, Middle Eastern and Asian markets, the company’s development plans, the company’s strategy, customer demand and expected benefits. For a list and description of such risks and uncertainties, see the reports and other filings by the company with the U.S. Securities and Exchange Commission. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 46,354 IPC common shares (ISIN: CA46016U1084) during the period of September 7 to 11, 2026 under IPC’s previously announced normal course issuer bid / share repurchase program (NCIB).

IPC’s NCIB, announced on December 3, 2025, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange (TSX) and Nasdaq Stockholm and applicable Canadian and Swedish securities laws.

During the period of September 7 to 11, 2026, IPC repurchased a total of 26,354 IPC common shares on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of IPC.

A summary and detailed breakdown of the transactions conducted on Nasdaq Stockholm during the period of September 7 to 11, 2026 according to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is available with this press release on IPC’s website: www.international-petroleum.com/news-and-media/press-releases.

During the same period, IPC purchased a total of 20,000 IPC common shares on the TSX. All of these share repurchases were carried out by ATB Securities Inc. on behalf of IPC.

All common shares repurchased by IPC under the NCIB will be cancelled. As at September 11, 2026, the total number of issued and outstanding IPC common shares is 112,159,304 with voting rights, of which IPC holds 247,027 common shares in treasury.

A total of 914,475 IPC common shares have been repurchased under the NCIB through the facilities of the TSX and Nasdaq Stockholm up to September 11, 2026. A maximum of 6,468,077 IPC common shares may be repurchased up to December 4, 2026, or until such earlier date as the NCIB is completed or terminated by IPC.

International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

For further information, please contact:

Rebecca Gordon SVP Corporate Planning and Investor Relations rebecca.gordon@international-petroleum.com Tel: +41 22 595 10 50

Or

Robert Eriksson Media Manager reriksson@rive6.ch Tel: +46 701 11 26 15

 

This information was submitted for publication, through the contact persons set out above, at 11:00 CEST on September 14, 2026.

Forward-Looking Statements
This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements with respect to: the intention and ability of IPC to acquire common shares under the NCIB, including the timing of any such purchases; the number of common shares to be cancelled and the timing of such cancellations; and the return of value to IPC’s shareholders as a result of any common share repurchases.

The forward-looking statements are based on certain key expectations and assumptions made by IPC, including expectations and assumptions concerning: the duration and impact of tariffs that are currently in effect on goods exported from or imported into Canada, and that other than the tariffs that are currently in effect, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, reenacts tariffs that are currently suspended, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas; prevailing commodity prices and currency exchange rates; applicable royalty rates and tax laws; interest rates; future well production rates and reserve and contingent resource volumes; operating costs; IPC’s ability to maintain its existing credit ratings; IPC’s ability to achieve its performance targets; the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the successful completion of acquisitions and dispositions and that IPC will be able to implement its standards, controls, procedures and policies in respect of any acquisitions and realize the expected synergies on the anticipated timeline or at all; the benefits of acquisitions; the state of the economy and the exploration and production business in the jurisdictions in which IPC operates and globally; the availability and cost of financing, labour and services; IPC’s intention to complete share repurchases under the normal course issuer bid program, including the funding of such share repurchases, existing and future market conditions, including with respect to the price of IPC’s common shares, and compliance with respect to applicable limitations under securities laws and regulations and stock exchange policies; and the ability to market crude oil, natural gas and natural gas liquids successfully.

Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

These include, but are not limited to: general global economic, market and business conditions; the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; innovation and cybersecurity risks related to IPC’s systems, including costs of addressing or mitigating such risks; the ability to attract, engage and retain skilled employees; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; geopolitical conflicts, including current and potential future conflicts in Ukraine, the Middle East, South America and elsewhere, and their potential impact on, among other things, global market conditions; political or economic developments, including, without limitation, the risk that (i) the tariffs that are currently in effect on goods exported from or imported into Canada continue in effect for an extended period of time, the tariffs that have been threatened are implemented, that tariffs that are currently suspended are reactivated, the rate or scope of tariffs are increased, or new tariffs are imposed, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed or threatened to be imposed by the U.S. on other countries and retaliatory tariffs imposed or threatened to be imposed by other countries on the U.S. will trigger a broader global trade war which could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Corporation, including by decreasing demand for, and the price of oil, and natural gas, disrupting supply chains, increasing costs, causing volatility in the global financial markets, and limiting access to financing; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations. Readers are cautioned that the foregoing list of factors is not exhaustive.

Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in IPC’s annual information form for the year ended December 31, 2025 (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”), in the management’s discussion and analysis (MD&A) for the three and six months ended June 30, 2026 (See “Risk Factors”, “Cautionary Statement Regarding Forward-Looking Information” and “Reserves and Resources Advisory”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

Attachment

• IPC – PR – Buyback results period of September 7 to 11 2026 – 14-09-2026