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INDEPENDENT OIL & RESOURCES PLC - IOTA

SHARE ISSUE

Reference is made to the announcement dated 28.4.2021 in relation to invitation to subscribe for new shares in Independent Oil & Resources Plc.

Following the completion of the offering, 15.000.000 new shares of a nominal value of NOK 1,00 were issued and allotted at a price of NOK 2,00 per share.

Following the issue and allotment, the paid-up share capital of Independent Oil & Resources Plc has been increased by NOK 15.000.000,00 and is now

divided into 74.053.211 shares of a nominal value of NOK 1,00 per share for the total consideration of NOK 74.053.211,00.



The total authorized share capital of the Company stands at 95.833.630 shares of a nominal value of NOK 1,00 per share.