Mr. Casey McCandless reports

TETHYS PETROLEUM PRESS RELEASE: ANNUAL GENERAL MEETING RESULTS

Tethys Petroleum Ltd. today released the results of the annual general meeting held on Aug. 11, 2025.

The following resolutions put to shareholders at the meeting were passed on a poll at the meeting:

• 1. Receipt of financial statements and auditor report;
• 2. Election of directors:
  • 2.1 Adeola Ogunsemi -- 43,252,561 votes for 54.9 per cent;
  • 2.2 Mattias Sjoborg -- 43,252,561 votes for 54.9 per cent;
  • 2.3 Don Streu -- 78,760,609 votes for 99.9 per cent;
  • 2.4 William Wells -- 43,252,561 votes for 54.9 per cent.
• 3. Appointment of auditor -- Grant Thornton LLP.

The following resolutions put to shareholders at the meeting were not passed on a poll at the meeting:

• 2.5 Askar Ismailov -- 35,508,048 votes for 45.1 per cent;
• 2.6 Paul J. Ostling -- 35,508,048 votes for 45.1 per cent;
• 2.7 Piers Johnson -- 35,508.048 votes for 45.1 per cent.

At the meeting, the chair advised that, on May 13, 2025, Dr. Galina Zukova, the sole arbitrator, appointed by the International Arbitration Centre in Kazakhstan, issued an arbitral award that included an order cancelling 18 million shares of Tethys that were issued to Olisol Petroleum on May 29, 2020. The arbitral award has been recognized by the Court in Kazakhstan and Tethys is in the process of applying to have the arbitral award recognized in Ontario. Olisol Petroleum transferred 17,536,296 shares of Tethys to Gazexport Ltd. after it became aware of Tethys's intention to commence the arbitration and after the arbitration had been commenced. The arbitral award and the cancellation of these 18 million shares of Tethys results in the cancellation of all, or a substantial proportion of the 17,536,296 shares held by Gazexport. The Gazexport shares represent 74.06 per cent of the total 24,304,446 shares of Olisol Petroleum held prior to Olisol transferring the subject shares to Gazexport. In light of the foregoing, it was ruled at the meeting (with Gazexport and Fincraft Group LLP objecting thereto) that 74.06 per cent or 12,987,381 Tethys shares be excluded from Gazexport's votes.

About Tethys Petroleum Ltd.

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian region. Tethys believes that significant potential exists in both exploration and in discovered deposits in the area.

We seek Safe Harbor.