i3 Energy PLC announces dividend increase & June 2022 dividend declaration

EASTLEIGH, UK – i3 Energy plc (AIM:I3E)(TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following update.

Dividend Increase

i3 is pleased to announce that due to the ongoing exceptional performance of its production assets, positive results from the initial phase of its 2022 development drilling programme, and continuing commodity price strength and the resultant positive impact on our cash flow projections, the Company has decided to increase the minimum dividend to be paid in 2022 by 25% from £11.827mm to £14.784mm. The increase will be implemented by increasing the monthly dividend.

Monthly Dividend

i3 announces its June 2022 dividend totalling £1.6052 million and confirms the following:

Dividend: 0.1425 pence/share

Ex-Dividend Date: 19 May 2022

Record Date: 20 May 2022

Payment date: 10 Jun 2022

Payment to shareholders holding their shares on the TSX will be made in Canadian dollars using the exchange rate from the Bank of England at close on the Dividend announcement date, 11 May 2022.

END

Enquiries:

i3 Energy plc Majid Shafiq (CEO) / Graham Heath (CFO)	c/o Camarco Tel: +44 (0) 203 781 8331

WH Ireland Limited (Nomad and Joint Broker) James Joyce, Darshan Patel	Tel: +44 (0) 207 220 1666

Tennyson Securities (Joint Broker) Peter Krens	Tel: +44 (0) 207 186 9030

Stifel Nicolaus Europe Limited (Joint Broker) Ashton Clanfield, Callum Stewart	Tel: +44 (0) 20 7710 7600

Camarco Georgia Edmonds, James Crothers, Violet Wilson	Tel: +44 (0) 203 781 8331

Notes to Editors:

i3 Energy is an oil and gas Company with a low cost, diversified, growing production base in Canada’s most prolific hydrocarbon region, 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 optimisation of its existing 100% owned asset base and the acquisition of long life, low decline conventional production assets.

i3 is dedicated to responsible corporate practices and the environment, and places high value on adhering to strong Environmental, Social and Governance (“ESG”) practices. i3 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 strategy, which has broader implications to long-term value creation, as these benefits extend beyond regulatory requirements.

i3 Energy is listed on the AIM market of the London Stock Exchange under the symbol I3E and on the Toronto Stock Exchange under the symbol ITE. For further information on i3 Energy please visit https://i3.energy

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