Interra Resources : Quarterly Update Pursuant to Rule 1313(2) 4Q2021

INTERRA RESOURCES LIMITED

Company Registration No. 197300166Z

SGX ANNOUNCEMENT

Trading Code: 5GI

25 February 2022

QUARTERLY UPDATE PURSUANT TO RULE 1313(2)

OF THE SGX-ST LISTING MANUAL

Interra Resources Limited (the "Company"), and together with its subsidiaries, the "Group") has been placed on the watch-list by the Singapore Exchange Securities Trading Limited ("SGX-ST") with effect from 5 December 2017. The SGX-ST had on 28 October 2020 confirmed that it has no objection to the Company's application for an extension of time to 4 December 2021 to satisfy the requirements for its removal from the watch-list.

Pursuant to Rule 1313(2) of the SGX-ST Listing Manual, the Board of Directors of the Company wishes to provide an update in respect of the quarter ended 31 December 2021.

The Company had announced on 29 September 2021 that it had made an application to the SGX-ST for, inter alia, an extension of time of 12 months for the Company to meet the requirements for removal from the watch-list (the "Application"). As announced on 29 November 2021, the SGX-ST had, inter alia, confirmed that it has no objections to the Application and the deadline to meet the exit criteria of the watch-list has been extended to 4 December 2022 (the "Waiver"). Please refer to the two aforementioned announcements for further information regarding the Application and the Waiver, including the reasons for seeking the Waiver and the conditions of the Waiver.

Please refer to the Company's announcement of its unaudited results for the financial year ended 31 December 2021 released separately today for information regarding the financial position, operational activities, material developments and future direction of the Group.

The Company will continue to make efforts and consider various options to meet the requirements of Rule 1314 of the SGX-ST Listing Manual for its removal from the watch-list by 4 December 2022, and will update shareholders on any material developments and make such necessary announcements as and when appropriate.

By Order of the Board of Directors of

INTERRA RESOURCES LIMITED

Marcel Tjia

Chief Executive Officer

About Interra

Interra Resources Limited, a Singapore-incorporated company listed on SGX Mainboard, is engaged in the business of petroleum exploration and production (E&P). Our E&P activities include petroleum production, field development and exploration. We are positioning ourselves to become a leading regional independent producer of petroleum.

Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel (65) 6732 1711 Fax (65) 6738 1170 www.interraresources.com