Mr. David Thompson reports

TRILLION ENERGY RESTATES 2023 YEAR FINANCIAL STATEMENTS

Trillion Energy International Inc. has reissued its consolidated financial statements for the year ended Dec. 31, 2023, to correct an identified error. As a result, the company's net loss is reduced to $43,842 for the year from the previously reported net loss of $1,102,194.

The error is the result of a foreign exchange loss on intercompany accounts that was recorded in net loss and which should have been recorded in other comprehensive loss. IAS 21, The effects of changes in foreign exchange rates, requires that foreign exchange gains and losses on items that form part of an entity's net investment in a foreign operation, should be recognized in other comprehensive income or loss in the company's consolidated financial statements.

An attached table summarizes the line items impacted in the consolidated statements of financial position.

Another table summarizes the line items impacted in the consolidated statements of income (loss) and comprehensive income (loss).

The changes noted in the attached tables were adjusted through to the consolidated statements of stockholder' equity, cash flows and notes to the consolidated financial statements for the year ended Dec. 31, 2023. However, there were no changes to the reported totals of cash flows from (used in) operating, investing and financing activities.

"The company considers these changes to have a negligible impact on the company's financial position as there are no cash items impacted," said David Thompson, chief financial officer.

The company has recently filed its quarterly consolidated financial statements for Sept. 30, 2024, which are not impacted by the adjustments to the prior year.

About Trillion Energy International Inc.

Trillion Energy is focused on oil and natural gas production for Europe and Turkey with natural gas assets in Turkey. The company is the 49-per-cent owner of the SASB natural gas field, a Black Sea natural gas development, and a 19.6-per-cent (except three wells with 9.8 per cent) interest in the Cendere oil field.

We seek Safe Harbor.