Trillion Announces MCTO and Expected Timing of Annual Filings

• The British Columbia Securities Commission issued a Management Cease Trade Order (MCTO) against Trillion Energy International Inc. on May 1, 2026.
• The order restricts trading by certain insiders (CEO, CFO) due to delays in annual financial filings for the fiscal year ended December 31, 2025.
• Public shareholders are not restricted from trading securities during this period.
• The company expects to file Annual Filings (financial statements, MD&A, certifications) on or about May 8, 2026.
• Delays are attributed to a transition to a new independent qualified reserves evaluator and audit progress with MNP LLP.
• The Company confirms it continues to operate in the normal course and is not subject to insolvency proceedings.

• Regulatory Compliance Risk: The issuance of an MCTO is a negative signal regarding internal controls and financial reporting timeliness, even if limited to insiders. It suggests audit or evaluation complexities that management did not anticipate meeting by standard deadlines.
• Operational Continuity: Management explicitly states operations are normal and no insolvency proceedings exist, mitigating existential risk associated with the MCTO.
• Contextual Impact: This news follows a period of significant positive activity in April 2026 (asset sale removing $20M liabilities, resource evaluation showing $733M NPV, drilling success). The MCTO acts as a dampener on this momentum but does not negate the fundamental asset value.
• Market Expectation: Annual filings are typically due within 90 days of fiscal year-end (March 31 for Dec 31 FY). A delay to May 8 is a miss on standard timelines, though common in junior exploration during audit transitions.
• Conclusion: The news is negative regarding governance and transparency but routine in the context of junior resource companies facing audit delays. It does not materially alter the asset valuation derived from April's announcements.

• Company Profile: Trillion Energy International Inc. is an oil and gas exploration company focused on Türkiye following a strategic repositioning in April 2026.
• Flagship Project: Block M47 (C3 and C4 licences) in Southeastern Türkiye (Cudi-Gabar petroleum province).
• Interest: Trillion holds a 29% working interest via an earn-in agreement requiring US$15 million investment over 2026-2027.
• Asset Quality: Independent evaluation confirms 27.6 MMbbl 2C Contingent Resources at the North Prospect with unrisked NPV-10 of US$733.5 million (net to Trillion's interest).
• Recent Activity: Drilling at Çetinkaya C-1 confirmed 32.4° API light oil with 38 metres net pay.