Mr. Scott Lower reports

TRILLION ENERGY COMMENTS ON RISING OIL PRICES

Trillion Energy International Inc. has commented on the current global oil price environment and its implications for the company's M47 oil exploration program in southeastern Turkey.

Market context

The global oil market is experiencing the largest supply disruption on record. Restricted flows through the Strait of Hormuz have removed an estimated 9.1 million barrels per day from global supply, a level that dwarfs prior shocks, including the Gulf War. Brent crude has traded above $100 (U.S.) per barrel, with physical spot grades rising materially as cargos become scarce.

The world's spare production capacity, concentrated almost entirely in the Gulf states, has now been effectively sidelined. Global oil inventories are tracking toward all-time lows. Much of what appears to be falling demand is not buyers pulling back on price; it is forced consumption loss because supply cannot physically reach them. Prices must rise further to ration available barrels, not merely to reflect a geopolitical premium that could reverse overnight.

A decade of underinvestment in new oil production has left the industry poorly positioned to absorb shocks of this scale. With global demand still near 100 million barrels per day and no structural decline in sight, the case for higher oil prices over the coming years is stronger than it has been in a generation.

What this means for M47

The independent resource evaluation of Block M47, completed by Chapman Hydrogen and Petroleum Engineering Ltd., effective Dec. 31, 2025, used a near-term Brent price of $63.68 (U.S.) per barrel for 2026, well below today's Brent price. The evaluated net present value (discounted at 10 per cent) of $733.5-million (U.S.) (unrisked, net to Trillion's 29-per-cent working interest) was calculated at prices the market has already significantly exceeded. Trillion's M47 target is 32.4-degree-API light oil, premium-grade crude priced at or near the Brent benchmark, making the current environment directly accretive to project economics.

Trillion is not a passive observer of this environment. The company's earn-in obligations are actively under way, with $15-million (U.S.) committed across 2026 and 2027 to advance the M47 work program, including exploration drilling on a block where the geology is a cluster of major discoveries, increasing the region's oil production from zero to greater than 80,000 barrels of oil a day.

Management comment

"This is the largest supply disruption in the history of the oil market, and inventories are heading toward all-time lows. The consensus is still treating this as a temporary spike. We don't see it that way. A decade of underinvestment doesn't unwind in a quarter. The world still needs 100 million barrels a day; that number isn't going backwards and the easy barrels are getting harder to find. Turkiye imports much of its crude oil. When Brent trades above $100, that dependency is felt directly in energy costs, supply security and policy. Domestic onshore production of the kind we are developing at M47 becomes exactly what Turkiye needs. The Cudi-Gabar province is a cluster of major discoveries, a proven petroleum system with an established regional production base. We are building a company around that reality, and our timing, we believe, is right," stated Scott Lower, president of Trillion Energy.

About Trillion Energy International Inc.

Trillion Energy is a Canadian oil exploration company focused on Turkey. The company has an agreement to earn a 29-per-cent working interest in the M47 oil exploration block (C3 and C4 licences), located in the Cudi-Gabar petroleum province of southeastern Turkey. The earn-in includes financing a total of $15-million (U.S.) for 2026 and 2027 work commitments.

We seek Safe Harbor.