General Announcement::UPDATE ON APPLICATION FOR EXTENSION OF TIME TO MEET THE REQUIREMENTS FOR REMOVAL FROM THE WATCH-LIST

INTERRA RESOURCES LIMITED

Company Registration No. 197300166Z

SGX ANNOUNCEMENT

Trading Code: 5GI

29 November 2021

UPDATE ON THE APPLICATION FOR EXTENSION OF TIME TO MEET THE

REQUIREMENTS FOR REMOVAL FROM THE WATCH-LIST

Unless otherwise defined, capitalised terms used herein shall bear the same meaning ascribed to them in the announcement dated 29 September 2021 in relation to the application for extension of time to meet the requirements for removal from the watch-list (the "Announcement").

The Board refers to the Announcement relating to the Company's application to the SGX-ST (the "Application") seeking the following:

1. a waiver from strict compliance with Rule 1315 of the Listing Manual in relation to the 36-month cure period and with the extension of time to 4 December 2021 for the Company to satisfy the Exit Criteria that was granted by the SGX-ST to the Company on 28 October 2020; and
2. an extension of time of 12 months to 4 December 2022 for the Company to satisfy the Exit Criteria.

The Board is pleased to announce that the SGX-ST has on 26 November 2021 confirmed that it has no objection to the Company's application for an extension of time to 4 December 2022 (the "Waiver") with regard to compliance with Rule 1315 of the Listing Manual, subject to the following:

1. the Company announcing the Waiver granted, the reasons for seeking the Waiver, the conditions as required under Rule 107 of the Listing Manual and if the Waiver conditions have been satisfied. If the Waiver conditions have not been met on the date of the announcement, the Company must make an update announcement when the conditions have all been met; and
2. the submission of a written confirmation ("Written Confirmation") from the Company that it is not aware of any information that will have a material bearing on the investors' decisions which has yet to be announced by the Company.

As disclosed in the Announcement, as at the date of the Announcement, the Company has not recorded a consolidated pre-tax profit for FY2020, and as at the date of the Announcement, the Company has not had an average daily market capitalisation of S$40 million or more over the last 6 months. The Application and resulting Waiver was therefore made by the Company to seek an extension of time so as to meet the Exit Criteria for removal from the Watch-List.

The Company has submitted the Written Confirmation to SGX-ST on 29 November 2021. As such, following the disclosures in this announcement, the Company will have complied with the conditions of the Waiver above.

The Waiver will not be effective if any of the above conditions have not been fulfilled. In addition, the Company is also required to make an immediate disclosure via SGXNet if it is or will be in contravention of any laws and regulations governing the Company and the constitution of the Company arising from the Waiver, and in this respect the Company confirms that it is not in any such contravention.

Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel [phone] Fax [phone] www.interraresources.com

Update on the Application for Extension of Time to

Meet the Requirements for Removal from the Watch-List

Page 2 of 2

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.