22 June 2023

IOG plc

Approval of short-term Bond amendments

IOG plc ("IOG", or "the Company"), (AIM: IOG.L) confirms that bondholders controlling 72.8% of the Voting Bonds (representing 100% of the votes casted) have now voted in favour of the proposed Bond amendments as laid out in the RNS of Friday 16^th June, meaning these have now been formally approved. As previously stated, the Company will continue to engage with its bondholders as part of efforts to deliver value for its stakeholders.

Rupert Newall, CEO, commented:

"We appreciate the positive response of our bondholders to these short-term amendments. This will help us in our strenuous ongoing efforts to stabilise the business and deliver value for all concerned. We continue to work very actively across the portfolio, not least on the Blythe H2 wireline intervention, and will bring further updates when we have them."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

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About IOG:

IOG is a UK developer and producer of indigenous offshore gas. The Company began producing gas in March 2022 via its offshore and onshore Saturn Banks production infrastructure. In addition to its production assets, IOG operates several UK Southern North Sea licences containing gas discoveries and prospects which, subject to future investment decisions, may be commercialised through the Saturn Banks infrastructure. All its assets are co-owned 50:50 with its joint venture partner CalEnergy Resources (UK) Limited. Further details of its portfolio can be found at www.iog.co.uk.

A copy of the signed Written Resolution can be found here: http://www.rns-pdf.londonstockexchange.com/rns/5940D_1-2023-6-22.pdf