Mr. Arthur Halleran reports

TRILLION ENERGY ANNOUNCES DEBT SETTLEMENT

Trillion Energy International Inc. has issued 3.18 million common shares of the company at a deemed price of 20 cents per share in settlement of a bona fide debt of $636,000 owed by the company to Arthur Halleran, its chief executive officer, for $546,000, and two directors of the company for the balance, namely David Thompson and Sean Stofer. The shares are subject to a statutory hold period expiring four months and one day after closing of the debt settlement.

The debt settlement with 2476393 Alberta Ltd., a company wholly owned by Mr. Halleran, chief executive officer and a director of the company, David Thompson and Sean Stofer, directors of the company, is considered a related-party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related-party participation in the debt settlement, based on that the fair market value of such insider participation does not exceed 25 per cent of the company's market capitalization.

Mr. Halleran, CEO, stated: "When the stock was at five cents a share in 2020, I converted most of my salary into shares, seeing the bright future for the company at that time. Today, I am converting all of my past compensation owed to me into shares, seeing the same value opportunity again. I'm all in on Trillion Energy for the long term."

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 49-per-cent owner of the SASB natural gas field and has a 19.6-per-cent (except three wells with 9.8-per-cent) interest in the Cendere oil field. The company has a 50-per-cent interest in three oil exploration blocks in southeast Turkey.

We seek Safe Harbor.