Report for the second half and the twelve months of 2025

27 Feb 2026 19:42 CET

Oslo, 27 February 2026

Highlights in the quarter

Interoil's Total operated production for the six-month period amounted to
312,937 barrels of oil equivalent (boe), representing a decline from 346,001 boe
recorded in the same period of 2024. Operations in Argentina were negatively
affected by winter conditions that damaged surface oil lines, while failures in
power generation and compression equipment further compounded the impact.
Despite lower production volumes, the effect on revenues was mitigated by higher
gas prices in Argentina, resulting in total revenue of USD 9.9 million, compared
to USD 6.1 million in the prior-year period.

On 4 September 2025, Petrominera S.E. notified the termination of the joint
venture agreement relating to the Mata Magallanes Oeste and Cañadón Ramírez
areas in the Province of Chubut, Argentina, alleging breaches by the private
parties. The Company, while it still held the Argentine assets, was evaluating
its legal position and considering appropriate actions to defend and preserve
its contractual rights.

On 23 December 2025, bondholders approved and passed a written resolution
amending the terms of the Company's senior secured callable bonds (ISIN NO
001 0729908), including payment-in-kind of the 31 January 2026 interest,
extension of maturity to 31 January 2027, temporary waiver and amendments to
financial reporting requirements, and consent to dispose of certain Argentine
assets, as part of the Company's ongoing capital structure and liquidity
management process.

Subsequent Events

On 9 February 2025, the Company completed its strategic exit from its
conventional operations in Argentina, divesting its interests in the Santa Cruz
Sur joint operations and the La Brea Block, as well as related rights in MMO and
CR, to an Argentine investor for consideration of up to USD 1.0 million in
contingent payments, plus an 80% overriding royalty interest on profits above
specified production thresholds (see Note 3).

Full report attached.

Please direct any further questions to: ir@interoil.no (mailto:ir@interoil.no)

About Interoil
Exploration and Production ASA Interoil Exploration and Production ASA is a
Norwegian-based independent oil and gas exploration and production company
listed on the Oslo Stock Exchange under the ticker IOX. The Company has operated
in Latin America for over two decades, applying strong technical capabilities
and a disciplined approach to value creation and sustainability. This
information is subject to the disclosure requirements pursuant to Section 5-12
the Norwegian Securities Trading Act

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667181_Interoil 2H 2025 report.pdf