Mr. Scott Lower reports

TRILLION ENERGY ANNOUNCES WARRANT EXTENSION & NON-BROKERED PRIVATE PLACEMENT UPDATE

Further to Trillion Energy International Inc.'s previously announced non-brokered private placement, as described in the company's April 17, 2026, news release, Trillion Energy has closed 17,172,419 units for gross proceeds of $1,501,900 and settled $1,073,963 in outstanding debt. Furthermore, the company has extended the expiry of 2,124,515 outstanding warrants by one year, as described below.

Private placement update

The company issued 10,012,668 units for gross proceeds of $1,501,900 and settled outstanding debt with arm's-length and non-arm's-length parties of $1,073,963 through the issuance of an aggregate of 7,159,751 units.

Each unit comprises one common share of the company and one-half of one share purchase warrant, with each warrant exercisable at a price of 25 cents per share for a period of one year from the date of issuance.

In connection with the offering, Trillion paid an aggregate of $53,240.05 in cash finders' fees and issued an aggregate of 286,134 non-transferable broker warrants. Each broker warrant entitles the holder to one share and is exercisable at a price of 25 cents per share for a period of one year from the date of issuance.

The shares, warrants and broker warrants issued in connection with the offering are subject to hold periods ranging from Aug. 28, 2026, to Oct. 6, 2026, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. The offering remains subject to any applicable approval of the CSE.

Proceeds from the offering will be used to finance contractual work program obligations on the M47 concession under the definitive farm-in agreement, toward which the company has paid a total of $500,000 (U.S.) toward work commitments, audit and general corporate purposes, investor relations activities, the expenses of the offering, and general working capital.

Certain insiders of the company settled debt concurrent with the offering through the issuance of an aggregate of 3,294,536 units (the insider participation). The insider participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions, by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market value of such insider participation does not exceed 25 per cent of the company's market capitalization.

The company has also applied to the CSE to increase the size of the previously announced offering to up to $3.5-million, including the amounts closed to date, and on the same terms and conditions, which would allow for the issuance of up to 23,333,333 units at 15 cents per unit to be issued. Use of proceeds for the increased offering amount include to meet Trillion's earn-in obligations in Turkey related to Block M47 and additional working capital and general corporate expenses.

Warrant extension

The 2,124,515 warrants comprise 1,694,515 expiring June 28, 2026, 400,000 expiring July 3, 2026, and 30,000 expiring July 5, 2026, issued in tranche closings of a 2024 non-brokered private placement. The 90-cent (postconsolidation) exercise price is unchanged, and each expiry has been extended by one year to June 28, July 3 and July 5, 2027, respectively, subject to acceptance by the CSE. No action is required by holders, and the extension does not apply to compensation or finder warrants, which are not eligible for amendment.

Two directors and one officer hold 517,776 of the 2024 warrants, so the extension may be a related party transaction under MI 61-101. It is exempt from the formal valuation and minority shareholder approval requirements as the fair market value of the insiders' 2024 warrants does not exceed 25 per cent of the company's market capitalization.

The 2024 warrants remain subject to acceleration; the company may advance the expiry to 30 days after notice to holders if its shares close at or above $1.75 on the CSE for seven consecutive trading days. All other terms remain unchanged.

Market-making engagement

The company has engaged Independent Trading Group Inc. (ITG) to provide market-making services in accordance with the policies of the CSE. The agreement is for an initial term of one month and automatically renews for successive one-month terms unless terminated by either party on 30 days of notice. The company will pay ITG a cash fee of $6,000 per month. There are no performance factors in the agreement, and ITG will not receive any shares or options as compensation. The capital required for the market-making activities will be provided by ITG. ITG and the company are at arm's length.

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.