Trillion Energy is pleased to announce an extension and restructuring of payments required in its earn-in agreement for the M47c,d oil block (the “M47 Block”), an onshore exploration asset in the Cudi-Gabar petroleum province of southeastern Türkiye.

As previously announced, the Company entered into a Farm-In Agreement on January 9, 2026, to acquire 29% participating interest in the M47 Block. In exchange for USD$300,000 advanced on July 4, 2026, as part of the earn-in commitment, the remainder of Trillion's next tranche of funding commitment has been extended to September 15, 2026. Approximately USD$4.35 million is payable by September 15, 2026. Further payments are postponed until September 2027, providing Trillion with additional financial flexibility.

The payment timing intervals correspond to seismic and other commitments required to advance exploration and development plans for the block without undue delays. The Company’s financial commitment will cover 80% of the next component of the work program, including, inter alia, development activities in the North Block. One additional well is expected to be covered by another partner, the terms of which are under discussion at this time.

Several new wells are expected over the next 12 months as exploration and development ramps up on the block. Other block partners are expected to make significant additional financial contributions; Trillion’s financial commitment will also be prorated to its interest after its entire $15 million earn-in commitment is expended. The North Block has the potential for up to 80 vertical development wells, subject to commerciality, which has been evaluated at 81% chance of commerciality by independent appraisal on a 95,315 MSTB gross PIIP-derived resource. 

Scott Lower, President, stated: 
“The Company is strongly committed to its investors and partners to make the M47 a producing block, given the region’s strong momentum for development ramp-up. Meaningful production is targeted to start later this year upon meeting our earn-in commitment and well drilling/workover activities commencing, and this revised agreement provides additional optionality to achieve it.” 

About the M47c,d Oil Block

The M47c,d oil block covers approximately 450 km² within the Cudi-Gabar petroleum province, approximately 11 km southeast of the Şehit Aybüke Yalçın field, Türkiye’s largest onshore light oil discovery. The region hosts a significantly established production, with over 100 analogue wells operating nearby. An independent NI 51-101 resource evaluation has identified meaningful contingent and prospective oil resources on the Block, providing a strong technical foundation for the upcoming work program.

Highlights of the opportunity are as follows:

• 2C Contingent Resource of 27.6 MMbbl on the North Discovery, with an unrisked NPV-10 of USD$733.5 million.
• Approximately 11 km from the Şehit Aybüke Yalçın oil field, Türkiye’s largest onshore oil discovery
• Light oil discovery confirmed at 32.4° API gravity (2025)
• 38 metres of net oil pay at C-1 discovery well (2025)
• Total unrisked resource potential of 51.6 MMbbl net to Trillion across three prospects, with a North Prospect 3C estimate at an unrisked NPV-10 of USD$1.18 billion.
• Seven newly discovered analog oil field in the Gabar region over the past five years
• Analog Gabar regional fields produce a combined rate of over 80,000 bbl/d
• 578,213 MSTB PIIP (100% interest) assessed by appraisal

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