Mr. Casey McCandless reports

TETHYS PETROLEUM PRESS RELEASE (TPL): ANNUAL GENERAL MEETING RESULTS

Tethys Petroleum Ltd. has released the results of the annual general meeting held on Sept. 29, 2026.

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:
   1. Adeola Ogunsemi: 45,239,788 votes for 54.8 per cent;
   2. Mattias Sjoborg: 45,239,788 votes for 54.8 per cent;
   3. Don Streu: 82,476,996 votes for 99.9 per cent;
   4. William Wells: 45,242,588 votes for 54.8 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:

• Askar Ismailov: 37,237,208 votes for 46.3 per cent;
• Paul J. Ostling: 37,237,208 votes for 46.3 per cent;
• Piers Johnson: 37,237,208 votes for 46.3 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, and, on April 1, 2026, judgment for this arbitral award was entered in the Grand Court of the Cayman Islands. Olisol Petroleum transferred 17,536,296 shares of Tethys to Gazexport Ltd., 1,666,000 shares to Elena Gress and five million shares to Versal Luxury Interiors 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 1,666,000 shares held by Ms. Gress and the five million shares held by Versal Luxury Interiors. 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. Ms. Gress received her 1,666,000 shares in a transfer from Djuletta Muchak. Djuletta Muchak received these shares in a transfer from Olisol Petroleum. Versal Luxury Interiors Limited received its 5,000,000 shares in a transfer from Alexander Abramov. Mr. Abramov received these five million shares in a transfer from Eurasia Gas Group, and Eurasia Gas Group received these shares in a transfer from Olisol Petroleum. In light of the foregoing, it was ruled at the meeting (with Gazexport and FG Ltd. objecting thereto) that 74.06 per cent or 12,987,381 Tethys shares be excluded from Gazexport's votes, 1,233,840 Tethys shares be excluded from Ms. Gress's votes and 3,703,000 Tethys shares be excluded from Versal Luxury Interiors 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.