Mr. Majid Shafiq reports

I3 ENERGY PLC ANNOUNCES RESULT OF AGM

At i3 Energy PLC's annual general meeting (AGM) held on June 30, 2023, all resolutions, save resolution 11, duly passed. Resolution 11, a special resolution, did not pass.

Special resolution 11 was to authorize the directors to disapply pre-emption rights. Section 561(1) of the Companies Act 2006 provides that if the directors wish to allot any equity securities or sell any treasury shares (if it holds any), for cash, the company must first offer them to existing shareholders in proportion to their existing shareholdings. Section 561 does not apply in connection with allotments made pursuant to an employee share scheme.

The purpose of this resolution was to seek power for the directors to allot equity securities or sell any treasury shares for cash as if Section 561(1) of the Companies Act 2006 did not apply in connection with rights issues, open offers, and other pre-emptive and non-pre-emptive offers, and issues pursuant to the authority granted by resolution 10, to authorize the directors to allot ordinary shares.

As a result of the resolution not passing the company will seek shareholder approval to disapply pre-emptive rights if and as required.

i3 Energy is an oil and gas company with a low-cost, diversified, growing production base in Canada's most prolific hydrocarbon region in the Western Canadian sedimentary basin and appraisal assets in the North Sea with significant upside.

The company is well positioned to deliver future growth through the optimization of its existing 100-per-cent-owned asset base and the acquisition of long-life, low-decline conventional production assets.

i3 Energy is dedicated to responsible corporate practices and the environment, and places high value on adhering to strong environmental, social and governance (ESG) practices. i3 Energy is proud of its performance to date as a responsible steward of the environment, people and capital management. The company is committed to maintaining an ESG (environmental, social and governance) strategy, which has broader implications to long-term value creation, as these benefits extend beyond regulatory requirements.

i3 Energy is listed on the Alternative Investment Market of the London Stock Exchange under the symbol I3E and on the Toronto Stock Exchange under the symbol ITE.