Interoil Exploration and Production ASA has requested Nordic Trustee AS to summon for a bondholders' written resolution (the "Summons") for the Company's senior secured callable bonds with ISIN NO 001 0729908. The purpose of the written resolution is to approve a proposal to amend the bond terms regarding the settlement of the interest payment on the Bonds falling due on 31 July 2023. The Company wishes to settle the full July Interest Payment in kind by issuing and delivering additional Bonds (the "July PIK Bonds") with terms and conditions substantially equal to those of the outstanding Bonds.

Provided that bondholders approve the issuance of the July PIK Bonds, the Company is offering that the interest rate for all outstanding Bonds (from and including 31 July 2023), shall be increased from (7.50%) to (8.50%).