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20-F false true 2025-12-31 --12-31 2025 false false 000-55539 TRILLION ENERGY INTERNATIONAL INC. A1 Suite 700 838 W. Hastings Street Vancouver BC V6C 0A6 Mr. Sean Stofer 604 787-1715 Sean@trillionenergy.com Suite 700 838 W. Hastings Street Vancouver BC V6C 0A6 41624457 No No Yes No Non-accelerated Filer false false International Financial Reporting Standards false The Company maintains processes intended to identify, assess and manage material risks from cybersecurity threats. Due to the Company’s limited operations and resources, cybersecurity functions are managed primarily by executive management with support from third-party information technology service providers as needed. The Company relies on commercially available systems, cloud-based applications and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90E_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20250101__20251231_zfsktFTXGDc1">third-party service providers for certain information technology functions. Management periodically assesses operational and cybersecurity risks, including risks relating to unauthorized access, business interruption, and data loss. The Company maintains basic safeguards designed to protect its systems and information, including password protection, restricted access controls, software updates and data backup procedures. As of the date of this Annual Report, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantTextBlock_c20250101__20251231_zXCl3KYQA4Ni">the Company has <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_901_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250101__20251231_zHENwKIomOCi">not experienced any cybersecurity incidents that have materially affected, or are reasonably likely to materially affect, the Company’s business strategy, results of operations or financial condition. However, cybersecurity threats continue to evolve, and the Company may be required to expend additional resources in the future to enhance its cybersecurity measures. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90C_ecyd--CybersecurityRiskBoardOfDirectorsOversightTextBlock_c20250101__20251231_z0JrutxOpyTg">The Board of Directors oversees the Company’s risk management processes, including risks related to cybersecurity and information technology. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90F_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250101__20251231_zTkt15FYvqSk">Management is responsible for day-to-day administration of cybersecurity matters and reports material issues to the Board as appropriate. Due to the Company’s size and limited operations, the Company does not currently maintain a dedicated cybersecurity department or chief information security officer. true the Company has <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_901_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250101__20251231_zHENwKIomOCi">not experienced any cybersecurity incidents that have materially affected, or are reasonably likely to materially affect, the Company’s business strategy, results of operations or financial condition. false The Board of Directors oversees the Company’s risk management processes, including risks related to cybersecurity and information technology. Management is responsible for day-to-day administration of cybersecurity matters and reports material issues to the Board as appropriate. MNP LLP 1930 Calgary, Canada

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280959 1371215 795451 1312073 400767 1470079 212402 121899 251776 89711 754335 236201 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">1.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Organization and going concern</td></tr> </table> Trillion Energy International Inc. and its consolidated subsidiaries, (collectively referred to as the “Company”) is a Canadian based oil and gas exploration and production company. Effective January 2022, the corporate headquarters moved to Suite 700, 838 West Hastings Street, Vancouver, B.C., Canada from Turan Gunes Bulvari, Park Oran Ofis Plaza, 180-y, Daire:54, Kat:14, 06450, Oran, Cankaya, Anakara, Turkey. The Company also has a registered office in Canada. The Company is incorporated in British Columbia. The Company’s shares trade on the OTCQB under the symbol “TRLEF” and trade on the Canadian Securities Exchange (the “Exchange”) under the symbol “TCF”. On January 21, 2022, the Company redomiciled from Delaware to a British Columbia corporation by way of an amalgamation transaction with the Company’s British Columbian subsidiary, Trillion Energy Inc. (the “Repatriation Transaction”). Pursuant to the Repatriation Transaction, for every one common stock of Trillion Energy International Inc., the shareholders will receive one common stock of Trillion Energy Inc. The Company will continue to operate and report under the name of Trillion Energy International Inc. As a result of the Repatriation Transaction, the Company meets the definition of a foreign private issuer, as defined under Rule 3b-4 of the Securities Exchange Act of 1934, as amended. On September 18, 2023, the Company consolidated its issued share capital on a ratio of five old common shares for every one new post-consolidated common share. All current and comparative references to the number of common shares, weighted average number of common shares, loss per share, stock options and warrants have been restated to give effect to this share consolidation. In April 2026, the Company consolidated its issued share capital on a ratio of five old common shares for every one new post-consolidated common share. All current and comparative references to the number of common shares, weighted average number of common shares, loss per share, stock options and warrants have been restated to give effect to this share consolidation. These consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. As at December 31, 2025, the Company’s current liabilities exceeded its current assets by $34,373,381 (2024 - $27,931,650) and its accumulated deficit amounts to $103,230,389 (2024 - $54,009,488). In addition, for the year ended December 31, 2025, cash provided by operating activities was $1,244,081 (2024 – $5,695,137 and 2023 - $1,526,577 used by operating activities). The Company’s continuation as a going concern is dependent upon its ability to complete financing sufficient to meet current and future obligations, the successful results from its business activities, and its ability to operate profitably and generate funds. Although the Company raised capital in current and previous reporting periods, additional funding will be required to continue current operations and further advance its existing oil and gas assets in the upcoming 12 months. These factors indicate the existence of material uncertainty which raises substantial doubt about the Company’s ability to continue as a going concern. 34373381 27931650

-103230389

-54009488

1244081

-5695137

-1526577

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td><td style="font: 10pt Times New Roman, Times, Serif">Basis of Presentation</td></tr></table> These consolidated financial statements have been prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IASB”) and interpretations of the IFRS Interpretations Committee (“IFRIC”). The consolidated financial statements are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries Park Place Energy Corp. (“PPE Corp.”), Park Place Energy Bermuda (“PPE Bermuda”), BG Exploration EOOD (“BG Exploration”), Park Place Energy Turkey (“PPE Turkey”) and Trillion Energy A.S. (“Trillion A.S.”). The Company’s oil and gas operations are conducted jointly with its joint venture partner (Note 6). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> The joint arrangement meets the definition of a joint operation under IFRS 11, “Joint Arrangements” (“IFRS 11”); therefore, the Company’s share of the assets, liabilities, revenues and expenses are recorded in the consolidated financial statements. All intercompany balances and transactions are eliminated on consolidation. The functional currency of BG Exploration is the Bulgarian Lev. The functional currency of the Company’s Turkish operations is the Turkish Lira (“₺”). The functional currency of the Company’s Bermuda subsidiary is the United States dollar (“USD”), and the function currency of PPE Corp is the USD. Prior to January 1, 2022, the functional currency of Trillion Energy International Inc. was USD. The Company redomiciled from United States to Canada and became a Canadian Company in January 2022, resulting in the parent’s expenditures being denominated primarily in Canadian dollar (“CAD”) and the Company being funded primarily from issuance of equity instruments which proceeds are in CAD. As a result, the Company determined that the functional currency of the parent was changed to CAD effective January 1, 2022. The Company has accounted for the change in functional currency prospectively with no impact of this change on prior period comparative information. The Company has made an accounting policy choice to reassess the classification of financial instruments as liabilities or equity or vice versa as applicable when the functional currency of the Company or its subsidiaries changes. The policy will be applied consistently in the future. A portion of the Company’s exploration and development activities are conducted jointly with others. The joint interests are accounted for on a proportionate consolidation basis and as a result the financial statements reflect only the Company’s proportionate share of the assets, liabilities, revenues, expenses and cash flows from these activities. Schedule of Exploration and Development Activities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">Name of the joint arrangement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Nature of the relationship with the joint arrangement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Principal place of operation of joint arrangement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Proportion of participating share</td></tr> <tr style="vertical-align: bottom"> <td style="width: 30%; text-align: center; padding-bottom: 1pt">South Akcakoca Sub-Basin (“SASB”)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 22%; text-align: center; padding-bottom: 1pt">Operator</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 22%; text-align: center; padding-bottom: 1pt">Turkey</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 20%; text-align: center; padding-bottom: 1pt"><span id="xdx_90C_eifrs-full--ProportionOfOwnershipInterestInJointOperation_pid_dp_uPure_c20250101__20251231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_z0WoR918SVP" title="Proportion of participating share">49%</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt">Cendere</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">Participant</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">Turkey</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_90F_eifrs-full--ProportionOfOwnershipInterestInJointOperation_pid_dp_uPure_c20250101__20251231__ifrs-full--GeographicalAreasAxis__custom--CendereMember_zJhefR96wrNl" title="Proportion of participating share">19.6%</td></tr> </table> These consolidated financial statements were approved and authorized for issuance by the Board of Directors on May 23, 2026. Basis of Measurement These consolidated financial statements have been prepared on a historical cost basis except for certain derivative liabilities, which are measured at fair value. Hyperinflation Due to various qualitative factors and developments with respect to the economic environment in Turkey, including but not limited to, the acceleration of multiple local inflation indices, the three-year cumulative inflation rate of the local Turkish wholesale price index exceeding 100% at the end of February 2022 and the significant devaluation of the Turkish Lira, Turkey has been designated a hyper-inflationary economy as of April 1, 2022 for accounting purposes. Accordingly, IAS 29, Financial Reporting in Hyper-Inflationary Economies was adopted by the Company in its consolidated financial statements and applied to these consolidated financial statements in relation to PPE Turkey. The consolidated financial statements are based on the historical cost approach in IAS 29. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> The application of hyperinflation accounting requires restatement of PPE Turkey’s non-monetary assets and liabilities, equity and comprehensive income (loss) items from the original transaction date when they were first recognized into the current purchasing power which reflects a general price index current at the end of the reporting period. To measure the impact of inflation on its financial statements and results, the Company has elected to use the consumer price index (“CPI”) as published by the Turkish Statistical Institute “TURKSTAT”. IAS 29 also requires the restatement of comparative periods for the effects of hyperinflation unless the comparatives were previously presented in a different presentation currency of a non-hyperinflationary economy. The consolidated financial statements of the Company are presented in US dollars, a stable currency, and as a result the comparative amounts do not require restatement. On April 1, 2022, the Company recognized an adjustment of $473,907 for the impact of hyperinflation within accumulated other comprehensive loss related to the non-monetary assets held by PPE Turkey, which have been restated from the historic date when they were first recognized to the beginning of the reporting period (the “Opening Hyperinflation Adjustment”). On initial adoption of IAS 29, there is an accounting policy choice to recognize the Opening Hyperinflation Adjustment directly to opening equity or to other comprehensive income and the Company has elected to recognize this amount directly to opening equity. The value of the CPI at December 31, 2025, was 3,514 (December 31, 2024 – 2,685 and December 31, 2023 – 1,859) and the movement in the CPI for the year ended December 31, 2025 was 829 (2024 – 826 and 2023 - 731), an increase of approximately 31% (2024 – 44% and 2023 – 65%). As a result, the Company recognized a net monetary gain of $12,791,869 for the year ended December 31, 2025 (2024 - $18,431,488 and 2023 - $18,984,099) to restate transactions into a measuring unit current as of each period end. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(b)</td><td style="font: 10pt Times New Roman, Times, Serif">Use of Estimates and Judgments</td></tr></table> In the process of applying the Company’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements: Functional Currency The functional currency for the Company and each of its subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of the functional currency involves certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions which determined the primary economic environment. Determination of Cash Generating Units (“CGUs”) A CGU is the lowest grouping of integrated assets that generate identifiable cash inflows that are largely independent of the cash inflows of other assets or groups of assets. The allocation of assets into CGUs requires significant judgment and interpretations with respect to the integration between assets, the existence of active markets, similar exposure to market risks, shared infrastructure, and the way in which management monitors the operations. Going Concern The assessment of the Company’s ability to continue as a going concern and to raise sufficient funds to pay its ongoing operating expenditures and to meet its liabilities for the ensuing year, involves significant judgment based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> Asset Retirement Obligation The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Management applies judgment in assessing the existence and extent as well as the expected method of reclamation of the Company’s decommissioning and restoration obligations at the end of each reporting period. Management also uses judgment to determine whether the nature of the activities performed is related to decommissioning and restoration activities or normal operating activities. In the process of applying the Company’s accounting policies, management has made the following estimates, which have the most significant effect on the amounts recognized in the consolidated financial statements: Convertible Debt During the year ended December 31, 2023, the Company completed a convertible debenture financing. The convertible debentures include certain conversion features and associated warrants which were valued using the option pricing model and required significant assumptions to be made by management to value. Oil and Gas Reserves The Company’s estimate of oil and gas reserves is considered in the measurement of depletion, depreciation, impairment, and decommissioning and restoration obligations. The estimation of reserves is an inherently complex process and involves the exercise of professional judgment. All reserves are evaluated annually by independent qualified reserves evaluators. Oil and gas reserves estimates are based on a range of geological, technical and economic factors, including projected future rates of production, projected future commodity prices, engineering data, and the timing and amount of future expenditures, all of which are subject to uncertainty. Estimates reflect market and regulatory conditions existing at the evaluation date, which could differ significantly from other points in time throughout the period, or future periods. Changes in market and regulatory conditions and assumptions, as well as climate change, and the evolving worldwide demand for energy and global advancement of alternative sources of energy that are not sourced from fossil fuels can materially impact the estimation of net reserves. Allowance for Doubtful Accounts Estimates are inherent in the on-going assessment of the recoverability of amounts receivable. The Company maintains an allowance for doubtful accounts to reflect the expected credit losses. Uncertainty relates to the actual collectability of customer balances that can vary from the Company’s estimation. Asset Retirement Obligation The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Actual costs are uncertain, and estimates may vary as a result of changes to relevant laws and regulations related to the use of certain technologies, the emergence of new technology, operating experience, prices and closure plans. The estimated timing of future decommissioning and restoration may change due to certain factors, including reserves life. Changes to estimates related to future expected costs, discount rates, inflation assumptions, and timing may have a material impact on the amounts presented. Estimated Useful Lives and Depreciation of Equipment Depreciation of equipment is dependent upon estimates of useful lives which are determined through the exercise of judgment. Changes to the estimated useful life of equipment could result in differences in their carrying amounts. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> Leases – Estimating the Incremental Borrowing Rate The Company cannot readily determine the interest rate implicit in leases where it is the lessee. As such, it uses its incremental borrowing rate (“IBR”) to measure lease liabilities. The IBR is the rate of interest that the Company would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of comparable value to the right-of-use asset in a similar economic environment. IBR therefore reflects what the Company “would have to pay”, which requires estimation when no observable rates are available or where the applicable rates need to be adjusted to reflect the terms and conditions of the lease. The Company estimates the IBR using observable inputs (such as market interest rates) when available and makes certain entity-specific estimates. Leases – Estimating the Lease Term The Company includes renewal options in the term of the lease when management deems that it is reasonably certain that the option will be exercised. Impairment of Non-Current Assets Management applies judgment in assessing the existence of impairment indicators based on various internal and external factors. The recoverable amount of assets is determined based on the higher of fair value less costs of disposal or value-in-use calculations. The key estimates the Company applies in determining the recoverable amount normally include estimated future commodity prices, discount rates, expected production volumes, future operating and development costs, income taxes, and operating margins. In determining the recoverable amount, management may also be required to make judgments regarding the likelihood of occurrence of a future event. Changes to these estimates and judgments will affect the recoverable amounts of assets and may then require a material adjustment to their related carrying value. Stock-based Compensation The cost of equity-settled stock-based transactions (options, warrants, and equity-settled RSUs) with directors, officers and employees are measured by reference to the fair value of the equity instruments. Estimating fair value for equity-settled stock-based payment transactions requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the grant. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the stock option. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment. Cash-settled RSUs are accounted for as liability instruments and are measured at fair value based on the market value of the Company’s common shares at each reporting period. The fair value is recognized as stock-based compensation over the vesting period. Fluctuations in the fair values are recognized as stock-based compensation over the vesting period. Fair Value of Derivative Liability The Company’s warrants and conversion features with exercise prices denominated in a currency other the Company’s functional currency are recognized as derivatives measured at fair value through the consolidated statements of loss and comprehensive loss. Estimating fair value for derivative liability requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the issuance. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the derivatives. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> Deferred Tax Judgments are made by management at the end of the reporting period to determine the probability that deferred tax assets will be realized from future taxable earnings. Assessing the recoverability of deferred tax assets requires the Company to make judgments related to the expectations of future cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognized in consolidated statements of loss and comprehensive loss in the period in which the change occurs. <p id="xdx_842_eifrs-full--DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_zDQ6PeUo8uH5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(c)</td><td style="font: 10pt Times New Roman, Times, Serif">Cash and Cash Equivalents</td></tr></table> The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(d)</td><td style="font: 10pt Times New Roman, Times, Serif">Amounts Receivable</td></tr></table> Amounts receivable consist primarily of oil and gas receivables. The Company has classified these as current assets in the consolidated statements of financial position because the Company expects repayment or recovery within the next 12 months. The Company evaluates these accounts receivable for collectability and, when necessary, records an expected credit loss. The Company deems all accounts receivable to be collectable and has not recorded any expected credit losses. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(e)</td><td style="font: 10pt Times New Roman, Times, Serif">Property and Equipment</td></tr></table> Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful life of the asset. The estimate useful lives are as follows: Motor vehicles – <span id="xdx_90D_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20250101__20251231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--MotorVehiclesMember_zxrQJpGeqIT4" title="Property and equipment, depreciation useful lives">3 years; furniture – <span id="xdx_901_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20250101__20251231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z1d3JW2STXs2" title="Property and equipment, depreciation useful lives">3 to <span id="xdx_90C_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20250101__20251231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zHppVMTNL4z4" title="Property and equipment, depreciation useful lives">5 years; leasehold improvements – over the term of the lease and other equipment - <span id="xdx_907_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20250101__20251231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--OtherPropertyPlantAndEquipmentMember_z04ByQE1Ujf3" title="Property and equipment, depreciation useful lives">3 years. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(f)</td><td style="font: 10pt Times New Roman, Times, Serif">Revenue Recognition</td></tr></table> Revenue from Contracts with Customers The Company recognizes revenue when it satisfies its performance obligation(s) by transferring control over a product to a customer. Revenue is measured based on the consideration the Company expects to receive in exchange for those products. Performance Obligations and Significant Judgments The Company sells oil and natural gas products in Turkey. The Company enters into contracts that generally include one type of distinct product in variable quantities and priced based on a specific index related to the type of product. The oil and natural gas are typically sold in an unprocessed state to processors and other third parties for processing and sale to customers. The Company recognizes revenue at a point in time when control of the oil is transferred. For oil sales, control is typically transferred to the customer upon receipt at the wellhead or a contractually agreed upon delivery point. Under the Company’s natural gas contracts with processors, control transfers upon delivery at the wellhead or the inlet of the processing entity’s system. For the Company’s other natural gas contracts, control transfers upon delivery at the inlet or to a contractually agreed upon delivery point. In the cases where the Company sells to a processor, the Company has determined that the Company is the principal in the arrangement and the processors are the Company’s customers. The Company recognizes the revenue in these contracts based on the net proceeds received from the processor. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> For the Company’s product sales that have a contract term greater than one year, the Company uses the practical expedient in IFRS 15 Paragraph 121(a) which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to an unsatisfied performance obligation. Under these sales contracts, each unit of product represents a separate performance obligation; therefore, future volumes are unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required. The Company has no unsatisfied performance obligations at the end of each reporting period. The Company does not believe that significant judgments are required with respect to the determination of the transaction price, including any variable consideration identified. There is a low level of uncertainty due to the precision of measurement and use of index-based pricing with predictable differentials. Additionally, any variable consideration identified is not constrained. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(g)</td><td style="font: 10pt Times New Roman, Times, Serif">Evaluation and Exploration Assets</td></tr></table> Pre-license exploration costs are recognized in the consolidated statements of loss and comprehensive loss as incurred. The costs to acquire non-producing oil and gas properties or licenses to explore, drill exploratory wells and the costs to evaluate the commercial potential of underlying resources, including related borrowing costs, are initially capitalized as exploration and evaluation assets. Exploration and evaluation assets are subject to technical, commercial and management review to confirm the continued intent to develop and extract the underlying resources. If an area or exploration well is no longer considered commercially viable, the related capitalized costs are charged to exploration expense. Exploration and evaluation assets are not subject to depreciation and depletion. When management determines with reasonable certainty that an exploration and evaluation asset will be developed, as evidenced by the classification of proved or probable reserves and the appropriate internal and external approvals, the asset is transferred to oil and gas properties. The Company records geological and geophysical expenses to the consolidated statements of loss and comprehensive loss as incurred. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(h)</td><td style="font: 10pt Times New Roman, Times, Serif">Oil and Gas Properties</td></tr></table> Oil and gas properties (“O&G”) include development and productions costs, less accumulated depletion and depreciation and accumulated impairment loss. O&G are grouped into CGUs for impairment testing. The Company has grouped its O&G into two CGUs: the Cendere Oil Field and SASB Gas Field. When significant parts of an item of O&G have different useful lives, they are accounted for as separate items (major components). Costs incurred subsequent to the determination of technical feasibility and commercial viability and the costs of replacing parts of O&G are capitalized only when they increase the future economic benefits embodied in the specific asset to which they relate. All other expenditures are recognized in the consolidated statements of loss and comprehensive loss as incurred. Such capitalized items generally represent costs incurred in developing proved and/or probable reserves and bringing on or enhancing production from such reserves and are accumulated on a field or geotechnical area basis. The carrying amount of any replaced or sold component is derecognized. The costs of the day-to-day servicing of oil and gas properties are recognized in the consolidated statements of loss and comprehensive loss as incurred. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(h)</td><td style="font: 10pt Times New Roman, Times, Serif">Oil and Gas Properties (continued)</td></tr></table> The net carrying value of O&G is depleted using the unit-of-production method by reference to the ratio of production in the year to the related proved reserves, considering estimated future development costs necessary to bring those reserves into production. The estimated future development costs is added to the carrying value of O&G to calculate depletion. These estimates are reviewed by independent reservoir engineers at least annually. <p id="xdx_842_eifrs-full--DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_zQSKk6vh8Iy2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(i)</td><td style="font: 10pt Times New Roman, Times, Serif">Impairment of Non-financial Assets</td></tr></table> Exploration and evaluation assets, O&G, and property and equipment are reviewed when events or changes in circumstances indicate the assets may not be recoverable. Exploration and evaluation assets are also tested for impairment immediately prior to being transferred to O&G. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. Impairment exists when the carrying value of an asset exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pretax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the consolidated statements of loss and comprehensive loss. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the CGU to which the asset belongs. These calculations are based on available data, other observable inputs, and projections of cash flows, all of which are subject to estimates and assumptions. Recoverable amounts are also sensitive to assumptions about the future usefulness of in-process development and the related marketing rights. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(j)</td><td style="font: 10pt Times New Roman, Times, Serif">Provisions</td></tr></table> Provisions are recognized by the Company when it has a legal or constructive obligation as a result of past events, it is probable that an outflow of economic resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are recognized for the asset retirement obligation associated with the Company’s exploration and evaluation assets and O&G. Provisions for the asset retirement obligation are measured at the present value of management’s best estimate of the future cash flows required to settle the present obligation, using the risk-free interest rate. The value of the obligation is added to the carrying amount of the associated asset and amortized over the useful life of the asset. The provision is accreted over time with actual expenditures charged against the accumulated obligation. Changes in the future cash flow estimates resulting from revisions to the estimated timing or amount of undiscounted cash flows are recognized as a change in the asset retirement obligation and related assets. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(k)</td><td style="font: 10pt Times New Roman, Times, Serif">Financial Instruments</td></tr></table> Classification The Company classifies its financial instruments into one of the following categories: fair value through profit or loss (“FVTPL”), fair value through other comprehensive income (“FVOCI”), or at amortized cost. This determination is made at initial recognition. All financial instruments are initially recognized at fair value on the consolidated statements of financial position, net of any transaction costs except for financial instruments classified as FVTPL, where transaction costs are expensed as incurred. Subsequent measurement of financial instruments is based on their classification. The Company classifies its cash and cash equivalents as FVTPL, amounts receivable and notes and amounts receivable for equity issued as financial assets at amortized cost, and accounts payable and accrued liabilities, loans payable, and convertible debt as financial liabilities at amortized cost. Embedded derivatives in other financial instruments or other host contracts are recorded as separate derivatives when their risks and characteristics are not closely related to those of the host contract. Measurement Financial assets and liabilities at amortized cost Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost sing the effective interest rate (“EIR”), less any impairment. Amortized cost is calculated by taking into account any discount or premium on acquisition and any fees or costs that are an integral part of the EIR. The EIR amortization is included in finance income in the consolidated statements of loss and comprehensive loss. Financial assets and liabilities at FVTPL Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of loss and comprehensive loss. Realized and unrealized gains and losses arising from subsequent changes in the fair value of the financial assets and liabilities held at FVTPL are included in the consolidated statements of loss and comprehensive loss in the period in which they arise. Debt investments at FVTOCI These assets are subsequently measured at fair value. Interest income calculated using the EIR method, foreign exchange gains and losses and impairment are recognized in the consolidated statements of loss and comprehensive loss. Other net gains and losses are recognized in other comprehensive income (“OCI”). On derecognition, net gains and losses accumulated in OCI are reclassified to the consolidated statements of loss and comprehensive loss. Equity investments at FVTOCI These assets are subsequently measured at fair value. Dividends are recognized as income in the consolidated statements of loss and comprehensive loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to consolidated statements of loss and comprehensive loss. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> Impairment of Financial Assets at Amortized Cost The Company recognizes an expected credit loss on financial assets that are measured at amortized cost. At each reporting date, the Company measures the allowance for expected credit loss for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date the credit risk has not increased significantly since initial recognition, the Company measures the allowance for expected credit loss for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the consolidated statements of loss and comprehensive loss, as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the allowance for expected credit loss at the reporting date to the amount that is required to be recognized. Fair value Fair value estimates are made at the consolidated statements of financial position date based on relevant market information and other information about financial instruments. Financial assets and financial liabilities measured at fair value in the consolidated statements of financial position are grouped into a fair value evaluation hierarchy. This hierarchy groups financial assets and financial liabilities into three levels according to the significance of the inputs used in the fair value evaluation of the financial assets and financial liabilities. The fair value levels of the hierarchy are as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets and liabilities at the financial reporting date; Level 2 – Inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3 – Inputs for the assets or liabilities that are not based on observable market data. The level within which the financial asset or financial liability is classified is determined based on the lowest level of significant input to the fair value measurement. The Company’s cash and cash equivalents is categorized as Level 1. There were no changes in classification within the levels of fair value hierarchy during the years ended December 31, 2024, 2023 and 2022. Derecognition Financial assets The Company derecognizes financial assets only when the contractual rights to cash flow from the financial assets expire, or when it transfers the financial assets and substantially all the associated risks and rewards of ownership to another entity. Financial liabilities The Company derecognizes financial liability when its contractual obligations are discharged or cancelled or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and / or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is initially recognized at fair value. Gains and losses on derecognition are recognized in consolidated statements of loss and comprehensive loss. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(l)</td><td style="font: 10pt Times New Roman, Times, Serif">Income Taxes</td></tr></table> Current Tax Current tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the countries where the Company operates and generates taxable income. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Deferred Tax Deferred tax is recognized on temporary differences at the reporting date arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax relating to items recognized directly in OCI or equity is recognized in OCI or equity and not in profit or loss. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and recognized only to the extent that it is probable that future taxable income will be available to allow all or part of the temporary differences to be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted and are expected to apply by the end of the reporting period. Deferred tax assets and deferred income tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority. <p id="xdx_842_eifrs-full--DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_zXdquDlVswya" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(m)</td><td style="font: 10pt Times New Roman, Times, Serif">Stock-Based Compensation</td></tr></table> Under the Company’s equity-based compensation plans, stock-based awards may be granted to executives, employees, and non-employee directors. The Company grants restricted share units (“RSUs”) and stock options to directors, officers, employees, and consultants. An individual is classified as an employee when the individual is an employee for legal or tax purposes or provides services like those performed by an employee. The costs of equity-settled transactions with employees are measured by reference to the fair value at the date on which they are granted, using the Black Scholes valuation model. The costs of equity-settled transactions are recognized, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled, ending on the date on which the relevant employees become fully entitled to the award (the “vesting date”). For cash settled stock-based compensation, the expense is determined based on the fair value of the liability at the end of the reporting period until the award is settled. In situations where equity instruments are issued to non-employees and some or all of the goods or services received by the Company as consideration cannot be specifically identified, they are measured at fair value of the stock-based payment. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(m)</td><td style="font: 10pt Times New Roman, Times, Serif">Stock-Based Compensation (continued)</td></tr></table> The cumulative expense is recognized for equity-settled transactions at each reporting date until the vesting date reflects the Company’s best estimate of the number of equity instruments that will ultimately vest. The profit or loss charge or credit for a period represents the movement in cumulative expense recognized as at the beginning and end of that period, and the corresponding amount is represented in the warrant and option reserve. At the end of each reporting period, the Company re-assesses its estimates of the number of awards that are expected to vest and recognizes the impact of the revisions in the consolidated statements of loss and comprehensive loss. No expense is recognized for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vesting irrespective of whether or not the market condition is satisfied provided that all other performance and/or service conditions are satisfied. Where the terms of an equity settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original terms of the award are met. An additional expense or its reduction is recognized for any modification which increases or decreases the total fair value of the stock-based payment arrangement or is otherwise beneficial to the employee as measured at the date of modification. Where an award is cancelled by the Company or the counterparty, any remaining element of the fair value of the award is expensed immediately or reversed through profit or loss, depending on the type of cancellation. The dilutive effect of outstanding options is reflected as additional dilution in the computation of earnings per share whereas anti-dilutive options are ignored. Consideration paid to the Company on exercise of stock-based awards is credited to share capital and the associated amount in warrant and option reserve is reclassified to share capital. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(n)</td><td style="font: 10pt Times New Roman, Times, Serif">Unit Offerings</td></tr></table> Common shares are classified as equity. Proceeds from unit placements are allocated between shares and warrants issued using the residual method. The residual method first allocates fair value to the component with the best evidence of fair value and then the residual value, if any, to the less easily measurable component. If the attached warrants do not meet the definition of a derivative liability, the fair value of the common shares, measured on date of issue, are determined to be the component with the best evidence of fair value. The balance, if any, is allocated to the attached warrants. If the attached warrants meet the definition of a derivative liability, the proceeds are first allocated to the fair value of the warrants and then the residual value, if any, is allocated to the common shares. Costs directly identifiable with share capital financings are charged against share capital. If the subscription is not funded upon issuance, the Company records a receivable as a contra account to shareholders’ equity. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(o)</td><td style="font: 10pt Times New Roman, Times, Serif">Loss per Share</td></tr></table> Basic earnings per share are calculated by dividing the net earnings for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by adjusting the weighted average number of common shares outstanding for dilutive common shares. The number of shares included is computed using the treasury stock method. As certain instruments can be exchanged for common shares of the Company, they are considered potentially dilutive and are included in the calculation of the Company’s diluted net earnings per share if they have a dilutive impact in the period. The impact of potentially dilutive securities is not considered in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(p)</td><td style="font: 10pt Times New Roman, Times, Serif">Leases</td></tr></table> At inception of a contract, the Company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset on the site on which it is located, less any lease incentives received. The assets are depreciated to the earlier of the end of the useful life of the right-of-use asset or the lease term. Judgment is applied to determine the lease term where a renewal option exists. Right-of-use assets are depreciated using the straight-line method as this most closely reflects the expected pattern of consumption of the future economic benefits. In addition, the right-of-use assets may be reduced by impairment losses or adjusted for certain remeasurements of the lease liability. The Company has elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of twelve months or less. The lease payments are recognized as an expense when incurred over the lease term. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. Lease payments include fixed payments, and variable payments that are based on an index or rate. Cash payments for the principal portion of the lease liability are presented within the financing activities section and the interest portion of the lease liability is presented within the operating activities section of the consolidated statements of cash flows. Short-term lease payments and variable lease payments not included in the measurement of the lease liability are presented within the operating activities section of the consolidated statements of cash flows. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(q)</td><td style="font: 10pt Times New Roman, Times, Serif">Foreign Currency Translation</td></tr></table> Functional currencies of the Company’s individual entities are the currency of the primary economic environment in which the entity operates. Transactions in foreign currencies are translated to the appropriate functional currency at foreign exchange rates that approximate those on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated to the appropriate functional currency at foreign exchange rates as at the date of the statement of financial position. Foreign exchange differences arising on translation are recognized in net earnings. Non-monetary assets that are measured in a foreign currency at historical cost are translated using the exchange rate at the date of the transaction. In preparing the Company’s consolidated financial statements, the financial statements of each entity are translated into USD, the presentation currency of the Company. The assets and liabilities of foreign operations are translated into USD at exchange rates as at the date of the statement of financial position. Revenues and expenses of foreign operations, whose functional currency is not the currency of a hyperinflationary economy, are translated into USD using average foreign exchange rates for the period. The financial statements (i.e. assets, liabilities, revenues and expenses) of foreign operations whose functional currency is the currency of a hyperinflationary economy, is first adjusted in accordance with the Company’s hyperinflation accounting policy, and then translated to USD at exchange rates as at the date of the statement of financial position. Foreign exchange differences resulting from translation from functional currency to presentation currency are recognized in other comprehensive income or loss. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(r)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Convertible Debt</td></tr></table> The components of the compound financial instrument (convertible debt) issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement and the definitions of a financial liability and an equity instrument. The conversion option that will be settled by the exchange of a fixed amount in cash for a fixed number of equity instruments of the Company is classified as an equity instrument. At the issue date, the liability component is recognized at fair value, which is estimated using the interest rate on the market for similar nonconvertible instruments. Subsequently, the liability component is measured at amortized cost using the EIR until it is extinguished on conversion or maturity. The value of the conversion option classified as equity is determined at the issue date, by deducting the amount of the fair value of the liability component from the fair value of the compound instrument as a whole. This amount is recognized in equity, net of tax effects, and is not revised subsequently. When the conversion option is exercised, the equity component of the convertible notes will be transferred to share capital. No profit or gain is recognized to the conversion or expiration of the conversion option. <p id="xdx_849_eifrs-full--DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_z2U84QM9X2Kc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(s)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Assets Held For Sale</td></tr></table> Non-current assets are classified as held for sale if their carrying amounts will be recovered through a sale transaction rather than through continuing use. This condition is met when the sale is highly probable, the asset is available for immediate sale in its present condition and the sale is expected to be completed within one year from the date of classification. Non-current assets held for sale are presented separately in current assets within the consolidated statements of financial position. Assets held for sale are measured at the lower of carrying amount and fair value less cost to sell, and are not depreciated, depleted or amortized. An impairment loss is recognized for any initial or subsequent write-down of the assets held for sale to fair value less costs to sell. The comparative period consolidated statement of financial position is not restated. <p id="xdx_84D_eifrs-full--DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations_zzt4s6KbP0ja" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(t)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">New IFRS Pronouncements</td></tr></table> Certain pronouncements were issued by the IASB or the IFRIC that are mandatory for accounting periods commencing on or after January 1, 2025. Amendments to IFRS 9 and IFRS 7, issued in May 2024, clarify the date of recognition in financial assets and liabilities, and add further guidance for assessing whether a financial asset meets the solely payment of principal and interest criterion. The amendments also add new disclosures for certain instruments with contractual terms that can change cash flows (on occurrence or non-occurrence of a contingent event) and updated the disclosure for investments in equity instruments designated at fair value through other comprehensive income. The amendments are effective for annual periods beginning on or after January 1, 2026, and are to be applied retrospectively. The Company does not expect the amendments to have a material impact on its consolidated financial statements. IFRS 18 - Presentation and Disclosure in Financial Statements was issued in April 2024. IFRS 18 replaces IAS 1 and introduces significant changes to the presentation of financial statements to enhance comparability across entities. The key requirements of the standard include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Separate reporting of operating, investing, and financing activities in the statement of earnings, with prescribed subtotals for each category.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Disclosure of management-defined performance measures in a dedicated note within the financial statements.</td></tr></table> The standard is effective for annual reporting periods beginning on or after January 1, 2027, with retrospective application required. The Company intends to assess the impact of IFRS 18 on its consolidated financial statements closer to the effective date. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars)

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td><td style="font: 10pt Times New Roman, Times, Serif">Basis of Presentation</td></tr></table> These consolidated financial statements have been prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IASB”) and interpretations of the IFRS Interpretations Committee (“IFRIC”). The consolidated financial statements are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries Park Place Energy Corp. (“PPE Corp.”), Park Place Energy Bermuda (“PPE Bermuda”), BG Exploration EOOD (“BG Exploration”), Park Place Energy Turkey (“PPE Turkey”) and Trillion Energy A.S. (“Trillion A.S.”). The Company’s oil and gas operations are conducted jointly with its joint venture partner (Note 6). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> The joint arrangement meets the definition of a joint operation under IFRS 11, “Joint Arrangements” (“IFRS 11”); therefore, the Company’s share of the assets, liabilities, revenues and expenses are recorded in the consolidated financial statements. All intercompany balances and transactions are eliminated on consolidation. The functional currency of BG Exploration is the Bulgarian Lev. The functional currency of the Company’s Turkish operations is the Turkish Lira (“₺”). The functional currency of the Company’s Bermuda subsidiary is the United States dollar (“USD”), and the function currency of PPE Corp is the USD. Prior to January 1, 2022, the functional currency of Trillion Energy International Inc. was USD. The Company redomiciled from United States to Canada and became a Canadian Company in January 2022, resulting in the parent’s expenditures being denominated primarily in Canadian dollar (“CAD”) and the Company being funded primarily from issuance of equity instruments which proceeds are in CAD. As a result, the Company determined that the functional currency of the parent was changed to CAD effective January 1, 2022. The Company has accounted for the change in functional currency prospectively with no impact of this change on prior period comparative information. The Company has made an accounting policy choice to reassess the classification of financial instruments as liabilities or equity or vice versa as applicable when the functional currency of the Company or its subsidiaries changes. The policy will be applied consistently in the future. A portion of the Company’s exploration and development activities are conducted jointly with others. The joint interests are accounted for on a proportionate consolidation basis and as a result the financial statements reflect only the Company’s proportionate share of the assets, liabilities, revenues, expenses and cash flows from these activities. Schedule of Exploration and Development Activities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">Name of the joint arrangement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Nature of the relationship with the joint arrangement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Principal place of operation of joint arrangement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Proportion of participating share</td></tr> <tr style="vertical-align: bottom"> <td style="width: 30%; text-align: center; padding-bottom: 1pt">South Akcakoca Sub-Basin (“SASB”)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 22%; text-align: center; padding-bottom: 1pt">Operator</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 22%; text-align: center; padding-bottom: 1pt">Turkey</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 20%; text-align: center; padding-bottom: 1pt"><span id="xdx_90C_eifrs-full--ProportionOfOwnershipInterestInJointOperation_pid_dp_uPure_c20250101__20251231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_z0WoR918SVP" title="Proportion of participating share">49%</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt">Cendere</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">Participant</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">Turkey</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_90F_eifrs-full--ProportionOfOwnershipInterestInJointOperation_pid_dp_uPure_c20250101__20251231__ifrs-full--GeographicalAreasAxis__custom--CendereMember_zJhefR96wrNl" title="Proportion of participating share">19.6%</td></tr> </table> These consolidated financial statements were approved and authorized for issuance by the Board of Directors on May 23, 2026. Basis of Measurement These consolidated financial statements have been prepared on a historical cost basis except for certain derivative liabilities, which are measured at fair value. Hyperinflation Due to various qualitative factors and developments with respect to the economic environment in Turkey, including but not limited to, the acceleration of multiple local inflation indices, the three-year cumulative inflation rate of the local Turkish wholesale price index exceeding 100% at the end of February 2022 and the significant devaluation of the Turkish Lira, Turkey has been designated a hyper-inflationary economy as of April 1, 2022 for accounting purposes. Accordingly, IAS 29, Financial Reporting in Hyper-Inflationary Economies was adopted by the Company in its consolidated financial statements and applied to these consolidated financial statements in relation to PPE Turkey. The consolidated financial statements are based on the historical cost approach in IAS 29. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> The application of hyperinflation accounting requires restatement of PPE Turkey’s non-monetary assets and liabilities, equity and comprehensive income (loss) items from the original transaction date when they were first recognized into the current purchasing power which reflects a general price index current at the end of the reporting period. To measure the impact of inflation on its financial statements and results, the Company has elected to use the consumer price index (“CPI”) as published by the Turkish Statistical Institute “TURKSTAT”. IAS 29 also requires the restatement of comparative periods for the effects of hyperinflation unless the comparatives were previously presented in a different presentation currency of a non-hyperinflationary economy. The consolidated financial statements of the Company are presented in US dollars, a stable currency, and as a result the comparative amounts do not require restatement. On April 1, 2022, the Company recognized an adjustment of $473,907 for the impact of hyperinflation within accumulated other comprehensive loss related to the non-monetary assets held by PPE Turkey, which have been restated from the historic date when they were first recognized to the beginning of the reporting period (the “Opening Hyperinflation Adjustment”). On initial adoption of IAS 29, there is an accounting policy choice to recognize the Opening Hyperinflation Adjustment directly to opening equity or to other comprehensive income and the Company has elected to recognize this amount directly to opening equity. The value of the CPI at December 31, 2025, was 3,514 (December 31, 2024 – 2,685 and December 31, 2023 – 1,859) and the movement in the CPI for the year ended December 31, 2025 was 829 (2024 – 826 and 2023 - 731), an increase of approximately 31% (2024 – 44% and 2023 – 65%). As a result, the Company recognized a net monetary gain of $12,791,869 for the year ended December 31, 2025 (2024 - $18,431,488 and 2023 - $18,984,099) to restate transactions into a measuring unit current as of each period end. Schedule of Exploration and Development Activities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">Name of the joint arrangement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Nature of the relationship with the joint arrangement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Principal place of operation of joint arrangement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Proportion of participating share</td></tr> <tr style="vertical-align: bottom"> <td style="width: 30%; text-align: center; padding-bottom: 1pt">South Akcakoca Sub-Basin (“SASB”)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 22%; text-align: center; padding-bottom: 1pt">Operator</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 22%; text-align: center; padding-bottom: 1pt">Turkey</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 20%; text-align: center; padding-bottom: 1pt"><span id="xdx_90C_eifrs-full--ProportionOfOwnershipInterestInJointOperation_pid_dp_uPure_c20250101__20251231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_z0WoR918SVP" title="Proportion of participating share">49%</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt">Cendere</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">Participant</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">Turkey</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_90F_eifrs-full--ProportionOfOwnershipInterestInJointOperation_pid_dp_uPure_c20250101__20251231__ifrs-full--GeographicalAreasAxis__custom--CendereMember_zJhefR96wrNl" title="Proportion of participating share">19.6%</td></tr> </table>

0.49

0.196

473907 3514 2685 1859 829 826 731 0.31 0.44 0.65

12791869

18431488

18984099

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(b)</td><td style="font: 10pt Times New Roman, Times, Serif">Use of Estimates and Judgments</td></tr></table> In the process of applying the Company’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements: Functional Currency The functional currency for the Company and each of its subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of the functional currency involves certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions which determined the primary economic environment. Determination of Cash Generating Units (“CGUs”) A CGU is the lowest grouping of integrated assets that generate identifiable cash inflows that are largely independent of the cash inflows of other assets or groups of assets. The allocation of assets into CGUs requires significant judgment and interpretations with respect to the integration between assets, the existence of active markets, similar exposure to market risks, shared infrastructure, and the way in which management monitors the operations. Going Concern The assessment of the Company’s ability to continue as a going concern and to raise sufficient funds to pay its ongoing operating expenditures and to meet its liabilities for the ensuing year, involves significant judgment based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> Asset Retirement Obligation The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Management applies judgment in assessing the existence and extent as well as the expected method of reclamation of the Company’s decommissioning and restoration obligations at the end of each reporting period. Management also uses judgment to determine whether the nature of the activities performed is related to decommissioning and restoration activities or normal operating activities. In the process of applying the Company’s accounting policies, management has made the following estimates, which have the most significant effect on the amounts recognized in the consolidated financial statements: Convertible Debt During the year ended December 31, 2023, the Company completed a convertible debenture financing. The convertible debentures include certain conversion features and associated warrants which were valued using the option pricing model and required significant assumptions to be made by management to value. Oil and Gas Reserves The Company’s estimate of oil and gas reserves is considered in the measurement of depletion, depreciation, impairment, and decommissioning and restoration obligations. The estimation of reserves is an inherently complex process and involves the exercise of professional judgment. All reserves are evaluated annually by independent qualified reserves evaluators. Oil and gas reserves estimates are based on a range of geological, technical and economic factors, including projected future rates of production, projected future commodity prices, engineering data, and the timing and amount of future expenditures, all of which are subject to uncertainty. Estimates reflect market and regulatory conditions existing at the evaluation date, which could differ significantly from other points in time throughout the period, or future periods. Changes in market and regulatory conditions and assumptions, as well as climate change, and the evolving worldwide demand for energy and global advancement of alternative sources of energy that are not sourced from fossil fuels can materially impact the estimation of net reserves. Allowance for Doubtful Accounts Estimates are inherent in the on-going assessment of the recoverability of amounts receivable. The Company maintains an allowance for doubtful accounts to reflect the expected credit losses. Uncertainty relates to the actual collectability of customer balances that can vary from the Company’s estimation. Asset Retirement Obligation The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Actual costs are uncertain, and estimates may vary as a result of changes to relevant laws and regulations related to the use of certain technologies, the emergence of new technology, operating experience, prices and closure plans. The estimated timing of future decommissioning and restoration may change due to certain factors, including reserves life. Changes to estimates related to future expected costs, discount rates, inflation assumptions, and timing may have a material impact on the amounts presented. Estimated Useful Lives and Depreciation of Equipment Depreciation of equipment is dependent upon estimates of useful lives which are determined through the exercise of judgment. Changes to the estimated useful life of equipment could result in differences in their carrying amounts. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> Leases – Estimating the Incremental Borrowing Rate The Company cannot readily determine the interest rate implicit in leases where it is the lessee. As such, it uses its incremental borrowing rate (“IBR”) to measure lease liabilities. The IBR is the rate of interest that the Company would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of comparable value to the right-of-use asset in a similar economic environment. IBR therefore reflects what the Company “would have to pay”, which requires estimation when no observable rates are available or where the applicable rates need to be adjusted to reflect the terms and conditions of the lease. The Company estimates the IBR using observable inputs (such as market interest rates) when available and makes certain entity-specific estimates. Leases – Estimating the Lease Term The Company includes renewal options in the term of the lease when management deems that it is reasonably certain that the option will be exercised. Impairment of Non-Current Assets Management applies judgment in assessing the existence of impairment indicators based on various internal and external factors. The recoverable amount of assets is determined based on the higher of fair value less costs of disposal or value-in-use calculations. The key estimates the Company applies in determining the recoverable amount normally include estimated future commodity prices, discount rates, expected production volumes, future operating and development costs, income taxes, and operating margins. In determining the recoverable amount, management may also be required to make judgments regarding the likelihood of occurrence of a future event. Changes to these estimates and judgments will affect the recoverable amounts of assets and may then require a material adjustment to their related carrying value. Stock-based Compensation The cost of equity-settled stock-based transactions (options, warrants, and equity-settled RSUs) with directors, officers and employees are measured by reference to the fair value of the equity instruments. Estimating fair value for equity-settled stock-based payment transactions requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the grant. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the stock option. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment. Cash-settled RSUs are accounted for as liability instruments and are measured at fair value based on the market value of the Company’s common shares at each reporting period. The fair value is recognized as stock-based compensation over the vesting period. Fluctuations in the fair values are recognized as stock-based compensation over the vesting period. Fair Value of Derivative Liability The Company’s warrants and conversion features with exercise prices denominated in a currency other the Company’s functional currency are recognized as derivatives measured at fair value through the consolidated statements of loss and comprehensive loss. Estimating fair value for derivative liability requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the issuance. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the derivatives. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> Deferred Tax Judgments are made by management at the end of the reporting period to determine the probability that deferred tax assets will be realized from future taxable earnings. Assessing the recoverability of deferred tax assets requires the Company to make judgments related to the expectations of future cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognized in consolidated statements of loss and comprehensive loss in the period in which the change occurs.

<p id="xdx_842_eifrs-full--DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_zDQ6PeUo8uH5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(c)</td><td style="font: 10pt Times New Roman, Times, Serif">Cash and Cash Equivalents</td></tr></table> The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents.

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(d)</td><td style="font: 10pt Times New Roman, Times, Serif">Amounts Receivable</td></tr></table> Amounts receivable consist primarily of oil and gas receivables. The Company has classified these as current assets in the consolidated statements of financial position because the Company expects repayment or recovery within the next 12 months. The Company evaluates these accounts receivable for collectability and, when necessary, records an expected credit loss. The Company deems all accounts receivable to be collectable and has not recorded any expected credit losses.

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(e)</td><td style="font: 10pt Times New Roman, Times, Serif">Property and Equipment</td></tr></table> Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful life of the asset. The estimate useful lives are as follows: Motor vehicles – <span id="xdx_90D_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20250101__20251231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--MotorVehiclesMember_zxrQJpGeqIT4" title="Property and equipment, depreciation useful lives">3 years; furniture – <span id="xdx_901_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20250101__20251231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z1d3JW2STXs2" title="Property and equipment, depreciation useful lives">3 to <span id="xdx_90C_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20250101__20251231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zHppVMTNL4z4" title="Property and equipment, depreciation useful lives">5 years; leasehold improvements – over the term of the lease and other equipment - <span id="xdx_907_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20250101__20251231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--OtherPropertyPlantAndEquipmentMember_z04ByQE1Ujf3" title="Property and equipment, depreciation useful lives">3 years.

P3Y

P5Y

P3Y

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(f)</td><td style="font: 10pt Times New Roman, Times, Serif">Revenue Recognition</td></tr></table> Revenue from Contracts with Customers The Company recognizes revenue when it satisfies its performance obligation(s) by transferring control over a product to a customer. Revenue is measured based on the consideration the Company expects to receive in exchange for those products. Performance Obligations and Significant Judgments The Company sells oil and natural gas products in Turkey. The Company enters into contracts that generally include one type of distinct product in variable quantities and priced based on a specific index related to the type of product. The oil and natural gas are typically sold in an unprocessed state to processors and other third parties for processing and sale to customers. The Company recognizes revenue at a point in time when control of the oil is transferred. For oil sales, control is typically transferred to the customer upon receipt at the wellhead or a contractually agreed upon delivery point. Under the Company’s natural gas contracts with processors, control transfers upon delivery at the wellhead or the inlet of the processing entity’s system. For the Company’s other natural gas contracts, control transfers upon delivery at the inlet or to a contractually agreed upon delivery point. In the cases where the Company sells to a processor, the Company has determined that the Company is the principal in the arrangement and the processors are the Company’s customers. The Company recognizes the revenue in these contracts based on the net proceeds received from the processor. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> For the Company’s product sales that have a contract term greater than one year, the Company uses the practical expedient in IFRS 15 Paragraph 121(a) which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to an unsatisfied performance obligation. Under these sales contracts, each unit of product represents a separate performance obligation; therefore, future volumes are unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required. The Company has no unsatisfied performance obligations at the end of each reporting period. The Company does not believe that significant judgments are required with respect to the determination of the transaction price, including any variable consideration identified. There is a low level of uncertainty due to the precision of measurement and use of index-based pricing with predictable differentials. Additionally, any variable consideration identified is not constrained.

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(g)</td><td style="font: 10pt Times New Roman, Times, Serif">Evaluation and Exploration Assets</td></tr></table> Pre-license exploration costs are recognized in the consolidated statements of loss and comprehensive loss as incurred. The costs to acquire non-producing oil and gas properties or licenses to explore, drill exploratory wells and the costs to evaluate the commercial potential of underlying resources, including related borrowing costs, are initially capitalized as exploration and evaluation assets. Exploration and evaluation assets are subject to technical, commercial and management review to confirm the continued intent to develop and extract the underlying resources. If an area or exploration well is no longer considered commercially viable, the related capitalized costs are charged to exploration expense. Exploration and evaluation assets are not subject to depreciation and depletion. When management determines with reasonable certainty that an exploration and evaluation asset will be developed, as evidenced by the classification of proved or probable reserves and the appropriate internal and external approvals, the asset is transferred to oil and gas properties. The Company records geological and geophysical expenses to the consolidated statements of loss and comprehensive loss as incurred.

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(h)</td><td style="font: 10pt Times New Roman, Times, Serif">Oil and Gas Properties</td></tr></table> Oil and gas properties (“O&G”) include development and productions costs, less accumulated depletion and depreciation and accumulated impairment loss. O&G are grouped into CGUs for impairment testing. The Company has grouped its O&G into two CGUs: the Cendere Oil Field and SASB Gas Field. When significant parts of an item of O&G have different useful lives, they are accounted for as separate items (major components). Costs incurred subsequent to the determination of technical feasibility and commercial viability and the costs of replacing parts of O&G are capitalized only when they increase the future economic benefits embodied in the specific asset to which they relate. All other expenditures are recognized in the consolidated statements of loss and comprehensive loss as incurred. Such capitalized items generally represent costs incurred in developing proved and/or probable reserves and bringing on or enhancing production from such reserves and are accumulated on a field or geotechnical area basis. The carrying amount of any replaced or sold component is derecognized. The costs of the day-to-day servicing of oil and gas properties are recognized in the consolidated statements of loss and comprehensive loss as incurred. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(h)</td><td style="font: 10pt Times New Roman, Times, Serif">Oil and Gas Properties (continued)</td></tr></table> The net carrying value of O&G is depleted using the unit-of-production method by reference to the ratio of production in the year to the related proved reserves, considering estimated future development costs necessary to bring those reserves into production. The estimated future development costs is added to the carrying value of O&G to calculate depletion. These estimates are reviewed by independent reservoir engineers at least annually.

<p id="xdx_842_eifrs-full--DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_zQSKk6vh8Iy2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(i)</td><td style="font: 10pt Times New Roman, Times, Serif">Impairment of Non-financial Assets</td></tr></table> Exploration and evaluation assets, O&G, and property and equipment are reviewed when events or changes in circumstances indicate the assets may not be recoverable. Exploration and evaluation assets are also tested for impairment immediately prior to being transferred to O&G. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. Impairment exists when the carrying value of an asset exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pretax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the consolidated statements of loss and comprehensive loss. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the CGU to which the asset belongs. These calculations are based on available data, other observable inputs, and projections of cash flows, all of which are subject to estimates and assumptions. Recoverable amounts are also sensitive to assumptions about the future usefulness of in-process development and the related marketing rights.

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(j)</td><td style="font: 10pt Times New Roman, Times, Serif">Provisions</td></tr></table> Provisions are recognized by the Company when it has a legal or constructive obligation as a result of past events, it is probable that an outflow of economic resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are recognized for the asset retirement obligation associated with the Company’s exploration and evaluation assets and O&G. Provisions for the asset retirement obligation are measured at the present value of management’s best estimate of the future cash flows required to settle the present obligation, using the risk-free interest rate. The value of the obligation is added to the carrying amount of the associated asset and amortized over the useful life of the asset. The provision is accreted over time with actual expenditures charged against the accumulated obligation. Changes in the future cash flow estimates resulting from revisions to the estimated timing or amount of undiscounted cash flows are recognized as a change in the asset retirement obligation and related assets. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table>

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(k)</td><td style="font: 10pt Times New Roman, Times, Serif">Financial Instruments</td></tr></table> Classification The Company classifies its financial instruments into one of the following categories: fair value through profit or loss (“FVTPL”), fair value through other comprehensive income (“FVOCI”), or at amortized cost. This determination is made at initial recognition. All financial instruments are initially recognized at fair value on the consolidated statements of financial position, net of any transaction costs except for financial instruments classified as FVTPL, where transaction costs are expensed as incurred. Subsequent measurement of financial instruments is based on their classification. The Company classifies its cash and cash equivalents as FVTPL, amounts receivable and notes and amounts receivable for equity issued as financial assets at amortized cost, and accounts payable and accrued liabilities, loans payable, and convertible debt as financial liabilities at amortized cost. Embedded derivatives in other financial instruments or other host contracts are recorded as separate derivatives when their risks and characteristics are not closely related to those of the host contract. Measurement Financial assets and liabilities at amortized cost Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost sing the effective interest rate (“EIR”), less any impairment. Amortized cost is calculated by taking into account any discount or premium on acquisition and any fees or costs that are an integral part of the EIR. The EIR amortization is included in finance income in the consolidated statements of loss and comprehensive loss. Financial assets and liabilities at FVTPL Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of loss and comprehensive loss. Realized and unrealized gains and losses arising from subsequent changes in the fair value of the financial assets and liabilities held at FVTPL are included in the consolidated statements of loss and comprehensive loss in the period in which they arise. Debt investments at FVTOCI These assets are subsequently measured at fair value. Interest income calculated using the EIR method, foreign exchange gains and losses and impairment are recognized in the consolidated statements of loss and comprehensive loss. Other net gains and losses are recognized in other comprehensive income (“OCI”). On derecognition, net gains and losses accumulated in OCI are reclassified to the consolidated statements of loss and comprehensive loss. Equity investments at FVTOCI These assets are subsequently measured at fair value. Dividends are recognized as income in the consolidated statements of loss and comprehensive loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to consolidated statements of loss and comprehensive loss. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> Impairment of Financial Assets at Amortized Cost The Company recognizes an expected credit loss on financial assets that are measured at amortized cost. At each reporting date, the Company measures the allowance for expected credit loss for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date the credit risk has not increased significantly since initial recognition, the Company measures the allowance for expected credit loss for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the consolidated statements of loss and comprehensive loss, as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the allowance for expected credit loss at the reporting date to the amount that is required to be recognized. Fair value Fair value estimates are made at the consolidated statements of financial position date based on relevant market information and other information about financial instruments. Financial assets and financial liabilities measured at fair value in the consolidated statements of financial position are grouped into a fair value evaluation hierarchy. This hierarchy groups financial assets and financial liabilities into three levels according to the significance of the inputs used in the fair value evaluation of the financial assets and financial liabilities. The fair value levels of the hierarchy are as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets and liabilities at the financial reporting date; Level 2 – Inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3 – Inputs for the assets or liabilities that are not based on observable market data. The level within which the financial asset or financial liability is classified is determined based on the lowest level of significant input to the fair value measurement. The Company’s cash and cash equivalents is categorized as Level 1. There were no changes in classification within the levels of fair value hierarchy during the years ended December 31, 2024, 2023 and 2022. Derecognition Financial assets The Company derecognizes financial assets only when the contractual rights to cash flow from the financial assets expire, or when it transfers the financial assets and substantially all the associated risks and rewards of ownership to another entity. Financial liabilities The Company derecognizes financial liability when its contractual obligations are discharged or cancelled or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and / or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is initially recognized at fair value. Gains and losses on derecognition are recognized in consolidated statements of loss and comprehensive loss. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table>

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(l)</td><td style="font: 10pt Times New Roman, Times, Serif">Income Taxes</td></tr></table> Current Tax Current tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the countries where the Company operates and generates taxable income. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Deferred Tax Deferred tax is recognized on temporary differences at the reporting date arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax relating to items recognized directly in OCI or equity is recognized in OCI or equity and not in profit or loss. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and recognized only to the extent that it is probable that future taxable income will be available to allow all or part of the temporary differences to be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted and are expected to apply by the end of the reporting period. Deferred tax assets and deferred income tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

<p id="xdx_842_eifrs-full--DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_zXdquDlVswya" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(m)</td><td style="font: 10pt Times New Roman, Times, Serif">Stock-Based Compensation</td></tr></table> Under the Company’s equity-based compensation plans, stock-based awards may be granted to executives, employees, and non-employee directors. The Company grants restricted share units (“RSUs”) and stock options to directors, officers, employees, and consultants. An individual is classified as an employee when the individual is an employee for legal or tax purposes or provides services like those performed by an employee. The costs of equity-settled transactions with employees are measured by reference to the fair value at the date on which they are granted, using the Black Scholes valuation model. The costs of equity-settled transactions are recognized, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled, ending on the date on which the relevant employees become fully entitled to the award (the “vesting date”). For cash settled stock-based compensation, the expense is determined based on the fair value of the liability at the end of the reporting period until the award is settled. In situations where equity instruments are issued to non-employees and some or all of the goods or services received by the Company as consideration cannot be specifically identified, they are measured at fair value of the stock-based payment. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(m)</td><td style="font: 10pt Times New Roman, Times, Serif">Stock-Based Compensation (continued)</td></tr></table> The cumulative expense is recognized for equity-settled transactions at each reporting date until the vesting date reflects the Company’s best estimate of the number of equity instruments that will ultimately vest. The profit or loss charge or credit for a period represents the movement in cumulative expense recognized as at the beginning and end of that period, and the corresponding amount is represented in the warrant and option reserve. At the end of each reporting period, the Company re-assesses its estimates of the number of awards that are expected to vest and recognizes the impact of the revisions in the consolidated statements of loss and comprehensive loss. No expense is recognized for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vesting irrespective of whether or not the market condition is satisfied provided that all other performance and/or service conditions are satisfied. Where the terms of an equity settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original terms of the award are met. An additional expense or its reduction is recognized for any modification which increases or decreases the total fair value of the stock-based payment arrangement or is otherwise beneficial to the employee as measured at the date of modification. Where an award is cancelled by the Company or the counterparty, any remaining element of the fair value of the award is expensed immediately or reversed through profit or loss, depending on the type of cancellation. The dilutive effect of outstanding options is reflected as additional dilution in the computation of earnings per share whereas anti-dilutive options are ignored. Consideration paid to the Company on exercise of stock-based awards is credited to share capital and the associated amount in warrant and option reserve is reclassified to share capital.

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(n)</td><td style="font: 10pt Times New Roman, Times, Serif">Unit Offerings</td></tr></table> Common shares are classified as equity. Proceeds from unit placements are allocated between shares and warrants issued using the residual method. The residual method first allocates fair value to the component with the best evidence of fair value and then the residual value, if any, to the less easily measurable component. If the attached warrants do not meet the definition of a derivative liability, the fair value of the common shares, measured on date of issue, are determined to be the component with the best evidence of fair value. The balance, if any, is allocated to the attached warrants. If the attached warrants meet the definition of a derivative liability, the proceeds are first allocated to the fair value of the warrants and then the residual value, if any, is allocated to the common shares. Costs directly identifiable with share capital financings are charged against share capital. If the subscription is not funded upon issuance, the Company records a receivable as a contra account to shareholders’ equity.

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(o)</td><td style="font: 10pt Times New Roman, Times, Serif">Loss per Share</td></tr></table> Basic earnings per share are calculated by dividing the net earnings for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by adjusting the weighted average number of common shares outstanding for dilutive common shares. The number of shares included is computed using the treasury stock method. As certain instruments can be exchanged for common shares of the Company, they are considered potentially dilutive and are included in the calculation of the Company’s diluted net earnings per share if they have a dilutive impact in the period. The impact of potentially dilutive securities is not considered in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table>

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(p)</td><td style="font: 10pt Times New Roman, Times, Serif">Leases</td></tr></table> At inception of a contract, the Company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset on the site on which it is located, less any lease incentives received. The assets are depreciated to the earlier of the end of the useful life of the right-of-use asset or the lease term. Judgment is applied to determine the lease term where a renewal option exists. Right-of-use assets are depreciated using the straight-line method as this most closely reflects the expected pattern of consumption of the future economic benefits. In addition, the right-of-use assets may be reduced by impairment losses or adjusted for certain remeasurements of the lease liability. The Company has elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of twelve months or less. The lease payments are recognized as an expense when incurred over the lease term. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. Lease payments include fixed payments, and variable payments that are based on an index or rate. Cash payments for the principal portion of the lease liability are presented within the financing activities section and the interest portion of the lease liability is presented within the operating activities section of the consolidated statements of cash flows. Short-term lease payments and variable lease payments not included in the measurement of the lease liability are presented within the operating activities section of the consolidated statements of cash flows.

<table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(q)</td><td style="font: 10pt Times New Roman, Times, Serif">Foreign Currency Translation</td></tr></table> Functional currencies of the Company’s individual entities are the currency of the primary economic environment in which the entity operates. Transactions in foreign currencies are translated to the appropriate functional currency at foreign exchange rates that approximate those on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated to the appropriate functional currency at foreign exchange rates as at the date of the statement of financial position. Foreign exchange differences arising on translation are recognized in net earnings. Non-monetary assets that are measured in a foreign currency at historical cost are translated using the exchange rate at the date of the transaction. In preparing the Company’s consolidated financial statements, the financial statements of each entity are translated into USD, the presentation currency of the Company. The assets and liabilities of foreign operations are translated into USD at exchange rates as at the date of the statement of financial position. Revenues and expenses of foreign operations, whose functional currency is not the currency of a hyperinflationary economy, are translated into USD using average foreign exchange rates for the period. The financial statements (i.e. assets, liabilities, revenues and expenses) of foreign operations whose functional currency is the currency of a hyperinflationary economy, is first adjusted in accordance with the Company’s hyperinflation accounting policy, and then translated to USD at exchange rates as at the date of the statement of financial position. Foreign exchange differences resulting from translation from functional currency to presentation currency are recognized in other comprehensive income or loss. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material Accounting Policies (continued)</td></tr> </table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(r)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Convertible Debt</td></tr></table> The components of the compound financial instrument (convertible debt) issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement and the definitions of a financial liability and an equity instrument. The conversion option that will be settled by the exchange of a fixed amount in cash for a fixed number of equity instruments of the Company is classified as an equity instrument. At the issue date, the liability component is recognized at fair value, which is estimated using the interest rate on the market for similar nonconvertible instruments. Subsequently, the liability component is measured at amortized cost using the EIR until it is extinguished on conversion or maturity. The value of the conversion option classified as equity is determined at the issue date, by deducting the amount of the fair value of the liability component from the fair value of the compound instrument as a whole. This amount is recognized in equity, net of tax effects, and is not revised subsequently. When the conversion option is exercised, the equity component of the convertible notes will be transferred to share capital. No profit or gain is recognized to the conversion or expiration of the conversion option.

<p id="xdx_849_eifrs-full--DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_z2U84QM9X2Kc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(s)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Assets Held For Sale</td></tr></table> Non-current assets are classified as held for sale if their carrying amounts will be recovered through a sale transaction rather than through continuing use. This condition is met when the sale is highly probable, the asset is available for immediate sale in its present condition and the sale is expected to be completed within one year from the date of classification. Non-current assets held for sale are presented separately in current assets within the consolidated statements of financial position. Assets held for sale are measured at the lower of carrying amount and fair value less cost to sell, and are not depreciated, depleted or amortized. An impairment loss is recognized for any initial or subsequent write-down of the assets held for sale to fair value less costs to sell. The comparative period consolidated statement of financial position is not restated.

<p id="xdx_84D_eifrs-full--DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations_zzt4s6KbP0ja" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(t)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">New IFRS Pronouncements</td></tr></table> Certain pronouncements were issued by the IASB or the IFRIC that are mandatory for accounting periods commencing on or after January 1, 2025. Amendments to IFRS 9 and IFRS 7, issued in May 2024, clarify the date of recognition in financial assets and liabilities, and add further guidance for assessing whether a financial asset meets the solely payment of principal and interest criterion. The amendments also add new disclosures for certain instruments with contractual terms that can change cash flows (on occurrence or non-occurrence of a contingent event) and updated the disclosure for investments in equity instruments designated at fair value through other comprehensive income. The amendments are effective for annual periods beginning on or after January 1, 2026, and are to be applied retrospectively. The Company does not expect the amendments to have a material impact on its consolidated financial statements. IFRS 18 - Presentation and Disclosure in Financial Statements was issued in April 2024. IFRS 18 replaces IAS 1 and introduces significant changes to the presentation of financial statements to enhance comparability across entities. The key requirements of the standard include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Separate reporting of operating, investing, and financing activities in the statement of earnings, with prescribed subtotals for each category.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Disclosure of management-defined performance measures in a dedicated note within the financial statements.</td></tr></table> The standard is effective for annual reporting periods beginning on or after January 1, 2027, with retrospective application required. The Company intends to assess the impact of IFRS 18 on its consolidated financial statements closer to the effective date.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">3.</td> <td style="font: 10pt Times New Roman, Times, Serif">Amounts Receivable </td></tr> </table> Schedule of Amounts Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_ze1R5uxJTvHk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zQ0aleomW2gd" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_401_ecustom--AccountsReceivableCurrent_iI_maCTRzTB7_zIfWuXLjFKj5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts receivable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">711,984</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,300,810</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--GstReceivableCurrent_iI_maCTRzTB7_zLjGjE7YjQM2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">GST receivable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">20,610</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,117</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--CurrentInterestReceivable_iI_maCTRzTB7_ztGnObLvwleb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest receivable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,519</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--OtherCurrentReceivables_iI_maCTRzTB7_zDvgE8MrDBPl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5,159</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,335</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--CurrentTradeReceivables_iTI_mtCTRzTB7_zf03CL7N9a3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Amounts receivable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">737,753</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,370,781</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> Schedule of Amounts Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_ze1R5uxJTvHk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zQ0aleomW2gd" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_401_ecustom--AccountsReceivableCurrent_iI_maCTRzTB7_zIfWuXLjFKj5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts receivable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">711,984</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,300,810</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--GstReceivableCurrent_iI_maCTRzTB7_zLjGjE7YjQM2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">GST receivable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">20,610</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,117</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--CurrentInterestReceivable_iI_maCTRzTB7_ztGnObLvwleb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest receivable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,519</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--OtherCurrentReceivables_iI_maCTRzTB7_zDvgE8MrDBPl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5,159</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,335</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--CurrentTradeReceivables_iTI_mtCTRzTB7_zf03CL7N9a3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Amounts receivable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">737,753</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,370,781</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 711984 1300810 20610 9117

24519

5159

36335

737753

1370781

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">4.</td><td style="text-align: justify">Prepaid Expenses and Deposits</td> </tr></table> Schedule of Prepaid Expenses and Deposits <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_zwDOY2mIFza7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zaYITbfrZuc3" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eifrs-full--TangibleExplorationAndEvaluationAssets_iI_maPEADzdYW_zuEFKnePvmF4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Exploration and production advances</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">39,924</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">172,982</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--CurrentPrepaidExpenses_iI_maPEADzdYW_zPsI99NDT5H" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,985</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">82,774</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--CloseoutFund_maPEADzdYW_zc3x1xQoTBm7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Close-Out Fund (Note 12)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">756,634</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">686,159</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--PrepaidExpensesAndDeposits_iTI_pp0p0_mtPEADzdYW_zE8rA2mpt98h" style="vertical-align: bottom; background-color: White"> <td>Prepaid expenses and deposits</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">803,543</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">941,915</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--PrepaidExpensesCurrent_iI_zyFSQPDDkb2b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">46,909</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">255,756</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--LongtermDeposits_iI_z54aJcfCBGb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Close-Out Fund (Note 12)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">756,634</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">686,159</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

Schedule of Prepaid Expenses and Deposits <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_zwDOY2mIFza7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zaYITbfrZuc3" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eifrs-full--TangibleExplorationAndEvaluationAssets_iI_maPEADzdYW_zuEFKnePvmF4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Exploration and production advances</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">39,924</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">172,982</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--CurrentPrepaidExpenses_iI_maPEADzdYW_zPsI99NDT5H" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,985</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">82,774</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--CloseoutFund_maPEADzdYW_zc3x1xQoTBm7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Close-Out Fund (Note 12)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">756,634</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">686,159</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--PrepaidExpensesAndDeposits_iTI_pp0p0_mtPEADzdYW_zE8rA2mpt98h" style="vertical-align: bottom; background-color: White"> <td>Prepaid expenses and deposits</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">803,543</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">941,915</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--PrepaidExpensesCurrent_iI_zyFSQPDDkb2b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">46,909</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">255,756</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--LongtermDeposits_iI_z54aJcfCBGb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Close-Out Fund (Note 12)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">756,634</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">686,159</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

39924

172982

6985

82774

756634 686159 803543 941915 46909 255756

756634

686159

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">5.</td> <td style="font: 10pt Times New Roman, Times, Serif">Assets held for Sale</td></tr> </table> In 2023, management committed to a plan to sell left-over field equipment with a carrying amount of $3,036,216. Accordingly, the equipment is presented as assets held for sale. Equipment that remained unsold as of December 31, 2025 were considered fully impaired. Schedule of Assets Held for Sale <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20251231_zUprvBgSmPTb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20241231_zk9DIEOqxc4h" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_400_ecustom--AssetsHeldForSale_iS_z5wSurqZrwVc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">387,797</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,479,429</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForSale_zHZDoLg0SWb2" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ReclassifiedToOilAndGasProperties_zFGEZ178UDU7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reclassified to oil and gas properties</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(172,112</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_ecustom--ProceedsFromAvailableforsaleFinancialAssets_iN_di_zpczl3mVBS3i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Proceeds on sale of assets held for sale</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(629,523</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--LossOnImpairmentAndSaleOfAssetsHeldForSale_iN_di_zUOVRGS8U6Jg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss on impairment and sale of assets held for sale</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(328,631</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(132,737</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--IncreaseDecreaseThroughNetExchangeDifferencesAssets_zDZ1WCJZNou2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(59,166</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(157,260</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--AssetsHeldForSale_iE_zjNJai1oj2Zc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">387,797</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> The non-recurring fair value measurement for the assets held for sale has been categorized as a Level 3 fair value and is based on management’s best estimate of the fair value of similar products in similar conditions in the marketplace. The key inputs used by management to estimate the fair value of the assets-held-for sale is based on offers received from third parties for a large portion of the equipment and extrapolation of the discount to similar items in the assets listing. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) 3036216 Schedule of Assets Held for Sale <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20251231_zUprvBgSmPTb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20241231_zk9DIEOqxc4h" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_400_ecustom--AssetsHeldForSale_iS_z5wSurqZrwVc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">387,797</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,479,429</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForSale_zHZDoLg0SWb2" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ReclassifiedToOilAndGasProperties_zFGEZ178UDU7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reclassified to oil and gas properties</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(172,112</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_ecustom--ProceedsFromAvailableforsaleFinancialAssets_iN_di_zpczl3mVBS3i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Proceeds on sale of assets held for sale</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(629,523</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--LossOnImpairmentAndSaleOfAssetsHeldForSale_iN_di_zUOVRGS8U6Jg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss on impairment and sale of assets held for sale</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(328,631</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(132,737</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--IncreaseDecreaseThroughNetExchangeDifferencesAssets_zDZ1WCJZNou2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(59,166</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(157,260</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--AssetsHeldForSale_iE_zjNJai1oj2Zc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">387,797</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 387797 1479429 -172112 629523 328631 132737 -59166 -157260 387797 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">6.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Oil and Gas Properties</td></tr> </table> Schedule of Oil and Gas Properties <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_ifrs-full--GeographicalAreasAxis_custom--SouthAkcakocaSubBasinMember_z5tltymJqibf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SASB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_ifrs-full--GeographicalAreasAxis_custom--CendereMember_zwwMK7S3Yokf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cendere</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B9_zjWgrCTFv2C6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43B_c20240101__20241231_eifrs-full--OilAndGasAssets_iS_zfnYcLStZBt6" style="vertical-align: bottom; background-color: White"> <td style="width: 40%">As at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">59,105,389</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,651,992</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">61,757,381</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AdditionsCost_zXHSKRwnAknk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,127,764</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,127,764</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--SaleOfOilAndGasAssets_iN_di_zO6ayKCCv6B5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sale of O&G assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,087,146</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,087,146</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--JvContributionCost_z5aOaQVeVdN1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">JV Contribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,348,810</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,348,810</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ChangeInAroEstimate_zSJVWKEnI4Oc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in ARO estimate and additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(610,113</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,587</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(611,700</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--CurrencyTranslationAdjustmentCost_zdRJGEBvTFs" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,685,298</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(421,305</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,106,604</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ImpactOfHyperinflationCost_zRlV0jYc5Su5" style="vertical-align: bottom; background-color: White"> <td>Impact of hyperinflation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,177,851</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">989,773</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,167,625</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ReclassifiedAsAssetsHeldForSale_zOIPUjV5NuQi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Reclassified as assets held for sale (Note 5)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">172,112</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">172,112</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43E_c20250101__20251231_eifrs-full--OilAndGasAssets_iS_zRB1h6bB4fqi" style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">69,851,749</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,218,873</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">73,070,622</td><td style="text-align: left"> </td></tr> <tr id="xdx_43E_c20250101__20251231_eifrs-full--OilAndGasAssets_iS_zLdDvqkDz1x4" style="display: none; vertical-align: bottom; background-color: White"> <td>Cost, Beginning Balance </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">69,851,749</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,218,873</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">73,070,622</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AdditionsCost_zQxCWQrenIm2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721,672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721,672</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--SaleOfOilAndGasAssets_iN_di_zMZHFZ7SOQli" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sale of O&G assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,273</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,273</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--JvContributionCost_zsyrQpAbQIn7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">JV Contribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(379,450</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(379,450</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ChangeInAroEstimate_zqBh4x0N3mJ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in ARO estimate and additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">239,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,728</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">240,789</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--CurrencyTranslationAdjustmentCost_zrUzASgOwvJ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,361,503</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(567,487</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,928,990</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ImpactOfHyperinflationCost_zUiNW4EtQva5" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17,841,448</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">819,360</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,660,808</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_433_c20250101__20251231_eifrs-full--OilAndGasAssets_iE_z5MFUBYn3N0a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">75,874,704</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,472,474</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">79,347,178</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_431_c20250101__20251231_eifrs-full--OilAndGasAssets_iE_zgj9y1ng4Jsf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Cost, Ending Balance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">75,874,704</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,472,474</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">79,347,178</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Accumulated depletion and impairment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20240101__20241231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zZCu1KnkvJg2" style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,083,686</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,019,595</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,103,281</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DepletionExpenses_zcVVJDO4FVn4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,233,377</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">67,040</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,300,417</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--ImpairmentLoss_z4Mvu5K1LMzc" style="vertical-align: bottom; background-color: White"> <td>Impairment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,892,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,892,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AccumulatedDepletionCurrencyTranslationAdjustment_zm3jqtSNCNmd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,125,451</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(320,873</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,446,324</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ImpactOfHyperinflationAccumulatedDepletion_zG40MzcxfUyj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,644,191</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">753,873</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">3,398,064</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_430_c20250101__20251231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zcUaAN2PCUxh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,727,803</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,519,635</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">22,247,438</td><td style="text-align: left"> </td></tr> <tr id="xdx_43B_c20250101__20251231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_z4aTGkZ2vZX" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Accumulated depletion, Beginning Balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,727,803</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,519,635</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,247,438</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DepletionExpenses_zbsMY5JAZmfe" style="vertical-align: bottom; background-color: White"> <td>Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,227</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">139,550</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--ImpairmentLoss_zlRSS5irzqjg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Impairment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,498,394</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,498,394</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AccumulatedDepletionCurrencyTranslationAdjustment_zOpw0yiCuZF7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,476,986</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(444,076</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,921,062</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ImpactOfHyperinflationAccumulatedDepletion_zTrfFYt6aQrk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,020,266</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">641,189</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,661,455</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_436_c20250101__20251231_ecustom--OilAndGasAssetsAccumulatedepletion_iE_zU46aeAvGsK7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">75,874,704</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,751,071</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">78,625,775</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_433_c20250101__20251231_ecustom--OilAndGasAssetsAccumulatedepletion_iE_zCw8avrgLdai" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Accumulated depletion, Ending Balance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">75,874,704</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,751,071</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">78,625,775</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Net book value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_432_c20240101__20241231_ecustom--OilAndGasAssetsNetBookValue_iE_zwd2IO5n50Yh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">50,123,946</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">699,238</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">50,823,184</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_437_c20240101__20241231_ecustom--OilAndGasAssetsNetBookValue_iE_zcrRmErNC1X9" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Net book value, Beginning Balance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">50,123,946</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">699,238</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">50,823,184</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_433_c20250101__20251231_ecustom--OilAndGasAssetsNetBookValue_iE_zEoU8ulaCpih" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">As at December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">721,403</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">721,403</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_432_c20250101__20251231_ecustom--OilAndGasAssetsNetBookValue_iE_zhnYMN35E5W5" style="display: none; vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">Net book value, Ending Balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">721,403</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">721,403</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> Cendere oil field The Cendere onshore oil field, which is located in South East Turkey has a total of 25 wells. The operator of the Cendere Field is Türkiye Petrolleri Anonim Ortakliğı (“TPAO”). The Company’s interest is 19.6% for all wells except for wells C-13, C-15 and C-16, for which its interest is 9.8%. As at December 31, 2025, the depletion calculation includes future development costs of $355,250 (December 31, 2024 - $32,600) based on the most recent reserve report. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">6.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Oil and Gas Properties (continued)</td></tr> </table> The South Akcakoca Sub-Basin (“SASB”) The Company owns offshore production licenses called the South Akcakoca Sub-Basin (“SASB”). The Company owns a 49% working interest in SASB in partnership with TPAO. SASB has four producing fields, each with a production platform plus subsea pipelines that connect the fields to an onshore gas plant. The four SASB fields are located off the north coast of Turkey towards the western end of the Black Sea. As at December 31, 2025, the depletion calculation includes future development costs of $Nil (December 31, 2024 - $31,400,000) based on the most recent reserve report. Impairment Management assesses each field for impairment indicators at each reporting date. Impairment indicators considered include the following: <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">Plans to discontinue or dispose of the asset before the previously expected date;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">Significant reductions in estimates or reserves;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">Significant cost overrun on a capital project;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">Significant increases in the expected cost of dismantling assets and restoring the site; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">Production difficulties.</td></tr></table> As at December 31, 2025, the Company performed an assessment of potential impairment indicators and noted that the Company’s net asset value was greater than its market capitalization and that the Company’s SASB gas property has underperformed. As a result of the impairment indicators noted, the Company performed an impairment test in accordance with IFRS. This resulted in a $54,498,394 impairment of the Company’s SASB gas property and no impairment on the Cendere oil property. For the purposes of testing impairment and determining value in use of the SASB property, the Company used a forecast of before-tax net cash flows on proved reserves obtained from the annual reserve report. This resulted in a recoverable amount (value in use) of $<span id="xdx_909_eifrs-full--ReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_dxL_c20250101__20251231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_z6c1XGsvbN6k" title="Reversal of impairment loss recognised in profit or loss property plant and equipment::XDX::-">Nil as there were no proved reserves allocated to the SASB property in the December 31, 2025 reserve report. The pre-impairment carrying value of the SASB cash generating unit includes the net book value of the SASB property of $<span id="xdx_90D_eifrs-full--ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_c20250101__20251231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_zqaUTivUXIe8" title="Impairment loss recognised in profit or loss property plant and equipment">54,498,394. For the purposes of testing impairment and determining value in use of the Cendere oil property, the Company used a 15-year forecast of before-tax net cash flows on proved reserves obtained from the annual reserve report discounted at 15% to estimate the value in use of the Cendere oil property. This resulted in a recoverable amount (value in use) of $3,463,000, which exceeds the carrying value of $721,403 as at December 31, 2025. Sale of assets During the year ended December 31, 2025, the Company sold tubing and casing with a cost of $38,273 (2024 - $1,087,146) for proceeds of $<span id="xdx_904_eifrs-full--ProceedsFromDisposalOfOilAndGasAssets_c20250101__20251231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_zc9fyP0F4bf" title="Proceeds from disposal of oil and gas assets">21,249 (2024 - $<span id="xdx_906_eifrs-full--ProceedsFromDisposalOfOilAndGasAssets_c20240101__20241231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_zxgcpEh5lNBg" title="Proceeds from disposal of oil and gas assets">621,054), resulting in a loss of $<span id="xdx_90E_ecustom--LossFromDisposalOfOilAndGasAssets_c20250101__20251231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_zFXKLIcDCPa5" title="Loss from disposal of oil and gas assets">17,024 ($10,132 adjusted for hyperinflation). (2024 - $<span id="xdx_909_ecustom--LossFromDisposalOfOilAndGasAssets_c20240101__20241231__ifrs-full--GeographicalAreasAxis__custom--SouthAkcakocaSubBasinMember_zhqh4cIYiuKg" title="Loss from disposal of oil and gas assets">466,092). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) Schedule of Oil and Gas Properties <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_ifrs-full--GeographicalAreasAxis_custom--SouthAkcakocaSubBasinMember_z5tltymJqibf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SASB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_ifrs-full--GeographicalAreasAxis_custom--CendereMember_zwwMK7S3Yokf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cendere</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B9_zjWgrCTFv2C6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43B_c20240101__20241231_eifrs-full--OilAndGasAssets_iS_zfnYcLStZBt6" style="vertical-align: bottom; background-color: White"> <td style="width: 40%">As at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">59,105,389</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,651,992</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">61,757,381</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AdditionsCost_zXHSKRwnAknk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,127,764</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,127,764</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--SaleOfOilAndGasAssets_iN_di_zO6ayKCCv6B5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sale of O&G assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,087,146</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,087,146</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--JvContributionCost_z5aOaQVeVdN1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">JV Contribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,348,810</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,348,810</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ChangeInAroEstimate_zSJVWKEnI4Oc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in ARO estimate and additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(610,113</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,587</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(611,700</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--CurrencyTranslationAdjustmentCost_zdRJGEBvTFs" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,685,298</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(421,305</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,106,604</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ImpactOfHyperinflationCost_zRlV0jYc5Su5" style="vertical-align: bottom; background-color: White"> <td>Impact of hyperinflation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,177,851</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">989,773</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,167,625</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ReclassifiedAsAssetsHeldForSale_zOIPUjV5NuQi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Reclassified as assets held for sale (Note 5)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">172,112</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">172,112</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43E_c20250101__20251231_eifrs-full--OilAndGasAssets_iS_zRB1h6bB4fqi" style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">69,851,749</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,218,873</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">73,070,622</td><td style="text-align: left"> </td></tr> <tr id="xdx_43E_c20250101__20251231_eifrs-full--OilAndGasAssets_iS_zLdDvqkDz1x4" style="display: none; vertical-align: bottom; background-color: White"> <td>Cost, Beginning Balance </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">69,851,749</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,218,873</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">73,070,622</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AdditionsCost_zQxCWQrenIm2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721,672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721,672</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--SaleOfOilAndGasAssets_iN_di_zMZHFZ7SOQli" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sale of O&G assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,273</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,273</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--JvContributionCost_zsyrQpAbQIn7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">JV Contribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(379,450</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(379,450</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ChangeInAroEstimate_zqBh4x0N3mJ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in ARO estimate and additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">239,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,728</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">240,789</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--CurrencyTranslationAdjustmentCost_zrUzASgOwvJ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,361,503</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(567,487</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,928,990</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ImpactOfHyperinflationCost_zUiNW4EtQva5" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17,841,448</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">819,360</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,660,808</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_433_c20250101__20251231_eifrs-full--OilAndGasAssets_iE_z5MFUBYn3N0a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">75,874,704</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,472,474</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">79,347,178</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_431_c20250101__20251231_eifrs-full--OilAndGasAssets_iE_zgj9y1ng4Jsf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Cost, Ending Balance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">75,874,704</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,472,474</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">79,347,178</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Accumulated depletion and impairment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20240101__20241231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zZCu1KnkvJg2" style="vertical-align: bottom; background-color: White"> <td>As at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,083,686</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,019,595</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,103,281</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DepletionExpenses_zcVVJDO4FVn4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,233,377</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">67,040</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,300,417</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--ImpairmentLoss_z4Mvu5K1LMzc" style="vertical-align: bottom; background-color: White"> <td>Impairment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,892,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,892,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AccumulatedDepletionCurrencyTranslationAdjustment_zm3jqtSNCNmd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,125,451</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(320,873</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,446,324</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ImpactOfHyperinflationAccumulatedDepletion_zG40MzcxfUyj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,644,191</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">753,873</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">3,398,064</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_430_c20250101__20251231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_zcUaAN2PCUxh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,727,803</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,519,635</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">22,247,438</td><td style="text-align: left"> </td></tr> <tr id="xdx_43B_c20250101__20251231_ecustom--OilAndGasAssetsAccumulatedepletion_iS_z4aTGkZ2vZX" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Accumulated depletion, Beginning Balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,727,803</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,519,635</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,247,438</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DepletionExpenses_zbsMY5JAZmfe" style="vertical-align: bottom; background-color: White"> <td>Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,227</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">139,550</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--ImpairmentLoss_zlRSS5irzqjg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Impairment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,498,394</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,498,394</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AccumulatedDepletionCurrencyTranslationAdjustment_zOpw0yiCuZF7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,476,986</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(444,076</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,921,062</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ImpactOfHyperinflationAccumulatedDepletion_zTrfFYt6aQrk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,020,266</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">641,189</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,661,455</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_436_c20250101__20251231_ecustom--OilAndGasAssetsAccumulatedepletion_iE_zU46aeAvGsK7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">75,874,704</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,751,071</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">78,625,775</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_433_c20250101__20251231_ecustom--OilAndGasAssetsAccumulatedepletion_iE_zCw8avrgLdai" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Accumulated depletion, Ending Balance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">75,874,704</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,751,071</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">78,625,775</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Net book value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_432_c20240101__20241231_ecustom--OilAndGasAssetsNetBookValue_iE_zwd2IO5n50Yh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">50,123,946</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">699,238</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">50,823,184</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_437_c20240101__20241231_ecustom--OilAndGasAssetsNetBookValue_iE_zcrRmErNC1X9" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Net book value, Beginning Balance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">50,123,946</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">699,238</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">50,823,184</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_433_c20250101__20251231_ecustom--OilAndGasAssetsNetBookValue_iE_zEoU8ulaCpih" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">As at December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">721,403</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">721,403</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_432_c20250101__20251231_ecustom--OilAndGasAssetsNetBookValue_iE_zhnYMN35E5W5" style="display: none; vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">Net book value, Ending Balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">721,403</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">721,403</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

59105389

2651992

61757381

2127764 2127764 1087146 1087146 -1348810 -1348810 -610113 -1587 -611700 -10685298 -421305 -11106604 22177851 989773 23167625 172112 172112

69851749

3218873

73070622

69851749

3218873

73070622

721672 721672 38273 38273 -379450 -379450 239061 1728 240789 -12361503 -567487 -12928990 17841448 819360 18660808

75874704

3472474

79347178

75874704

3472474

79347178

7083686 2019595 9103281 1233377 67040 1300417

9892000

-1125451 -320873 -1446324 2644191 753873 3398064 19727803 2519635 22247438 19727803 2519635 22247438 105227 34323 139550

54498394

-3476986 -444076 -3921062 5020266 641189 5661455 75874704 2751071 78625775 75874704 2751071 78625775 50123946 699238 50823184 50123946 699238 50823184 721403 721403 721403 721403 0.196 0.098 355250 32600 0.49 31400000

54498394

0.15

3463000

721403 38273 1087146

21249

621054

17024 10132 466092

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">7.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Property and Equipment</td></tr> </table> <p id="xdx_896_eifrs-full--DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_z4TwYEPM7jX" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> Schedule of Property, Plant and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--RightofuseAssetsMember_zATtMxNZMan2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Right-of-use assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--LeaseholdImprovementsMember_zUNejU4mLRKl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Leasehold improvements</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B8_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--OtherPropertyPlantAndEquipmentMember_z3zH22oEH013" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Other Equipment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B5_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--MotorVehiclesMember_zAZRdMRB9Sp9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Motor Vehicles</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B6_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--FixturesAndFittingsMember_zMuTTUAqE2ai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Furniture</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_zn8RE4fUuDMk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20240101__20241231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iS_z5k3RIqknZuk" style="vertical-align: bottom; background-color: White"> <td style="width: 40%">As at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">202,790</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">208,913</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">358,889</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">362,181</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">67,122</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">1,199,895</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zO1wJIg98SJ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,309</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,309</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zYc3kbFfHjNi" style="vertical-align: bottom; background-color: White"> <td>Modifications</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46,120</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46,120</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_z4oM72bJsMQa" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zc3Xv2F4pe19" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,099</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,292</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(57,820</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(57,543</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(180,287</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zJfIvmqoT8e7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">64,071</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">66,407</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">133,966</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">135,194</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,916</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">419,554</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_436_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iS_zzVIRQFnVPI3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">194,642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">246,028</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">435,035</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">439,832</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">92,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,408,351</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zwNzGEInbLK" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,401</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">275</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,676</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zWJcQiMxm8S7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(228,480</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(516,297</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(744,777</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zhedbF9CMlv8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,298</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(39,411</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(76,814</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(35,462</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,606</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(169,591</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zH8rjTNYZsKi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,920</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55,746</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">110,910</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">111,927</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,344</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">348,847</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43E_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iE_zqHbaMyy3MK" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,784</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">274,764</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">469,131</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">98,827</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">855,506</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Accumulated depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_439_c20240101__20241231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_zUhyMvUUHkEh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">68,772</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">144,686</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">99,179</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">148,016</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">18,692</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">479,345</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zxlpOEUlHGT5" style="vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,230</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,706</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,837</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,513</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,408</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zbTzem4LvrW" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,927</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,650</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,758</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,517</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,189</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(74,041</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zvhCL5v1Ib15" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,671</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,869</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">37,022</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55,251</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,143</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">173,956</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43E_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_zAZ2rdOd59ga" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">97,746</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">184,611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">149,280</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">202,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">32,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">666,668</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_z19qyk1D9Wr2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Beginning Balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">97,746</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">184,611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">149,280</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">202,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">32,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">666,668</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zLszvOjFu8n3" style="vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,947</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,382</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,860</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,384</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,789</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zerwVYKlwcja" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(107,824</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(226,946</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(334,770</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zZMnk6WqTUN6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,228</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,495</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,309</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(35,648</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,556</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(115,236</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_z6i8CJmKd8W1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,874</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43,562</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">37,988</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">51,471</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,229</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">164,124</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_434_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iE_zEOSs8eQoUbj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,784</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">208,625</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">182,341</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">41,825</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">445,575</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43D_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iE_zEE2klDf5K5f" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Ending Balance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,784</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">208,625</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">182,341</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">41,825</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">445,575</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Net Book Value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20241231_eifrs-full--PropertyPlantAndEquipment_iI_z43zVi4jeCT1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">96,896</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">61,417</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">285,755</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">237,569</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">60,046</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">741,683</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_436_c20251231_eifrs-full--PropertyPlantAndEquipment_iI_zwjAPMKbO3Af" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">As at December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">66,139</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">286,790</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">57,002</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">409,931</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_438_c20251231_eifrs-full--PropertyPlantAndEquipment_iI_zzEKBtI6g2R2" style="display: none; vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">Net Book Value</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">66,139</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">286,790</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">57,002</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">409,931</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

<p id="xdx_896_eifrs-full--DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_z4TwYEPM7jX" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> Schedule of Property, Plant and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--RightofuseAssetsMember_zATtMxNZMan2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Right-of-use assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--LeaseholdImprovementsMember_zUNejU4mLRKl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Leasehold improvements</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B8_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--OtherPropertyPlantAndEquipmentMember_z3zH22oEH013" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Other Equipment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B5_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--MotorVehiclesMember_zAZRdMRB9Sp9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Motor Vehicles</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B6_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_ifrs-full--FixturesAndFittingsMember_zMuTTUAqE2ai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Furniture</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_zn8RE4fUuDMk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20240101__20241231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iS_z5k3RIqknZuk" style="vertical-align: bottom; background-color: White"> <td style="width: 40%">As at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">202,790</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">208,913</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">358,889</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">362,181</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">67,122</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">1,199,895</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zO1wJIg98SJ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,309</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,309</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zYc3kbFfHjNi" style="vertical-align: bottom; background-color: White"> <td>Modifications</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46,120</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46,120</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_z4oM72bJsMQa" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zc3Xv2F4pe19" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,099</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,292</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(57,820</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(57,543</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(180,287</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zJfIvmqoT8e7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">64,071</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">66,407</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">133,966</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">135,194</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,916</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">419,554</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_436_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iS_zzVIRQFnVPI3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">194,642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">246,028</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">435,035</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">439,832</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">92,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,408,351</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zwNzGEInbLK" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,401</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">275</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,676</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zWJcQiMxm8S7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(228,480</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(516,297</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(744,777</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zhedbF9CMlv8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,298</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(39,411</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(76,814</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(35,462</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,606</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(169,591</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_zH8rjTNYZsKi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,920</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55,746</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">110,910</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">111,927</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,344</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">348,847</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43E_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember_eifrs-full--PropertyPlantAndEquipment_iE_zqHbaMyy3MK" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,784</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">274,764</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">469,131</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">98,827</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">855,506</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Accumulated depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_439_c20240101__20241231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_zUhyMvUUHkEh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">68,772</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">144,686</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">99,179</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">148,016</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">18,692</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">479,345</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zxlpOEUlHGT5" style="vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,230</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,706</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,837</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,513</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,408</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zbTzem4LvrW" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,927</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,650</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,758</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,517</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,189</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(74,041</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zvhCL5v1Ib15" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,671</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,869</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">37,022</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55,251</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,143</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">173,956</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43E_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_zAZ2rdOd59ga" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">97,746</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">184,611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">149,280</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">202,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">32,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">666,668</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iS_z19qyk1D9Wr2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Beginning Balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">97,746</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">184,611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">149,280</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">202,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">32,768</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">666,668</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--DepreciationPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zLszvOjFu8n3" style="vertical-align: bottom; background-color: White"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,947</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,382</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,860</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,384</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,789</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--DisposalsPropertyPlantAndEquipment_iN_di_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zerwVYKlwcja" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(107,824</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(226,946</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(334,770</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_zZMnk6WqTUN6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Currency translation adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,228</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,495</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,309</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(35,648</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,556</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(115,236</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--ImpactOfHyperinflations_hifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_z6i8CJmKd8W1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Impact of hyperinflation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,874</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43,562</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">37,988</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">51,471</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,229</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">164,124</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_434_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iE_zEOSs8eQoUbj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">As at December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,784</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">208,625</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">182,341</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">41,825</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">445,575</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43D_c20250101__20251231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__custom--AccumulatedDepreciationMember_eifrs-full--PropertyPlantAndEquipment_iE_zEE2klDf5K5f" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Ending Balance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,784</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">208,625</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">182,341</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">41,825</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">445,575</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Net Book Value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20241231_eifrs-full--PropertyPlantAndEquipment_iI_z43zVi4jeCT1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">As at December 31, 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">96,896</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">61,417</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">285,755</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">237,569</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">60,046</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">741,683</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_436_c20251231_eifrs-full--PropertyPlantAndEquipment_iI_zwjAPMKbO3Af" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">As at December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">66,139</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">286,790</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">57,002</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">409,931</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_438_c20251231_eifrs-full--PropertyPlantAndEquipment_iI_zzEKBtI6g2R2" style="display: none; vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">Net Book Value</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">66,139</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">286,790</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">57,002</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">409,931</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

202790

208913

358889

362181

67122

1199895

15309

46120

-26099

-29292

-57820

-57543

-9533

-180287

64071 66407 133966 135194 19916 419554

194642

246028

435035

439832

92814

1408351

12401

275

12676

228480

516297

744777

-4298

-39411

-76814

-35462

-13606

-169591

50920 55746 110910 111927 19344 348847

12784

274764

469131

98827

855506

68772

144686

99179

148016

18692

479345

14230

10706

28837

22513

11122

87408

-10927

-21650

-15758

-23517

-2189

-74041

25671 50869 37022 55251 5143 173956

97746

184611

149280

202263

32768

666668

97746

184611

149280

202263

32768

666668

15216

10947

21382

8860

8384

64789

107824

226946

334770

-17228

-30495

-26309

-35648

-5556

-115236

24874 43562 37988 51471 6229 164124

12784

208625

182341

41825

445575

12784

208625

182341

41825

445575

96896

61417

285755

237569

60046

741683

66139

286790

57002

409931

66139

286790

57002

409931

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">8. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Accounts Payable and Accrued Liabilities</td></tr> </table> Schedule of Accounts Payable and Accrued Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20251231_zJAg9WjVVlCb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20241231_zHLqQjhlnTnk" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_ecustom--AccountsPayable_iI_maTAOCPzkOH_zW2JkO8JdhUf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts payable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">16,310,709</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,156,541</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccruedLiabilities_iI_maTAOCPzkOH_zhqpfdJE4SV2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued liabilities</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,371,047</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">240,462</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--PayrollWithholdingAndSalesTaxLiabilities_iI_maTAOCPzkOH_zmNFmCi89Ij1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Payroll, withholding and sales tax liabilities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">110,726</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">410,862</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--TradeAndOtherCurrentPayables_iTI_mtTAOCPzkOH_zf8s8uRxaYbf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Total</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">18,792,482</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">14,807,865</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars)

Schedule of Accounts Payable and Accrued Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20251231_zJAg9WjVVlCb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20241231_zHLqQjhlnTnk" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_ecustom--AccountsPayable_iI_maTAOCPzkOH_zW2JkO8JdhUf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts payable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">16,310,709</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,156,541</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccruedLiabilities_iI_maTAOCPzkOH_zhqpfdJE4SV2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued liabilities</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,371,047</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">240,462</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--PayrollWithholdingAndSalesTaxLiabilities_iI_maTAOCPzkOH_zmNFmCi89Ij1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Payroll, withholding and sales tax liabilities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">110,726</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">410,862</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--TradeAndOtherCurrentPayables_iTI_mtTAOCPzkOH_zf8s8uRxaYbf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Total</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">18,792,482</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">14,807,865</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) 16310709 14156541 2371047 240462 110726 410862

18792482

14807865

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">9.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> Loans Payable</td> </tr> </table> Schedule of Loans Payable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20251231_zdef6Dmg7K2c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241231_zkvA9mv2fPNd" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40B_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zsKqZHQyNl6f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eifrs-full--BorrowingsInterestRate_iI_pid_dp_uPure_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zYxwkzyjn96d" title="Interest rate">6% per annum2,3</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">34,415</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">36,512</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zXs2TuDZe2N9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zBGUoNNfsov5" title="Interest rate">1% per month1</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,461,250</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,141,750</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zw5QFTuyF55e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zHAp2Z9Olgvi" title="Interest rate">8.25% per annum4</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,034,484</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zJC4CftgdF6f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zdgWZ3YxdC33" title="Interest rate">52% per annum5</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,009,883</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_z1af1cIHkUDl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zeoHeWaernsc" title="Interest rate">12% per annum6</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">147,391</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">139,349</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zRKU4UPNEelk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unsecured, interest-bearing loan at a variable interest rate7</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,329,003</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--Borrowings_iI_zblZiNk7A7kc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total loans payable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">4,972,059</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,361,978</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--ShorttermBorrowings_iNI_di_zOS2Or7gZhff" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Current portion of loans payable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(4,972,059</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,361,978</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--LongtermBorrowings_iI_zEYDVjZuRm44" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Long-term portion of loans payable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> The Company is in compliance with all debt covenants on loans payable, other than as noted below, and has not received any waivers from lenders. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On July 1, 2023, the Company entered into agreements with TR1 Master Fund to borrow $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--Borrowings_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zvnZWXJuTplj">1,065,000 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--Borrowings_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_z0Jf7GuRM2ij">1,597,500. The loans were issued with a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--PaymentsForDebtIssueCosts_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zcVYjyxFipSe" title="Debt discount">65,000 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--PaymentsForDebtIssueCosts_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zLdfYeZPg8u4" title="Debt discount">97,500 discount, respectively, and bear an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zVQcX0S37bJ9" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zR8b0vkFwvFf" title="Interest rate">1% per month. The maturity date was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--BorrowingsMaturity_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zo7haTt0q2pk" title="Loan, maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--BorrowingsMaturity_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zydSXYzQmLna" title="Loan, maturity date">December 31, 2023, and the Company is claiming that the principal of TR1 Master Fund agreed to extend the loans to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--BorrowingsMaturityExtend_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zs3N8wa7LPKe" title="Loan, maturity date extend"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_ecustom--BorrowingsMaturityExtend_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zoMxnMGwyrYk" title="Loan, maturity date extend">December 31, 2024. In the event that the loan is repaid in full prior to the maturity date, the minimum interest payments on the loans are $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_ecustom--InterestPaymentOnLoan_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zIXMfNCNHe1j" title="Interest payment on loan">40,000 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--InterestPaymentOnLoan_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zmcOHnTQE7me" title="Interest payment on loan">60,000, respectively. If, during the period that any amount of the loan remains outstanding, the Company issues any equity, the Lender may demand repayment of all or part of the principal amount of the loan in an amount equal to the aggregate subscription price of the equity offering. Accrued interest in excess of the minimum interest payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eifrs-full--InterestPayable_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zCKbjuuCt5jj" title="Accrued interest">127,800 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--InterestPayable_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zFpHFVVuYdch" title="Accrued interest">191,700, respectively were recorded during the year ended December 31, 2025. The Company is currently in default on these loans, however, the Company has filed claims in connection with the ongoing receivership proceedings of the lender and related entities, and is seeking to offset any amounts outstanding against damages claimed by the Company (Note 24).</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(2)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On July 20, 2023, the Company entered into a promissory note for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--DebtSecurities_iI_uCAD_c20230720__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zChHn8TheKL2" title="Debt instruments issued">300,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--DebtSecurities_iI_c20230720__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zlhKyqvsLA8b" title="Debt instruments issued">228,023) with a company controlled by a related party as at December 31, 2025 and 2024. The promissory note bears an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230720__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zSCQMTusuJre" title="Interest rate">6% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024, as a result, the Company is currently in default on this loan. During the year ended December 31, 2025, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_uCAD_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zsQZokNAp9qg" title="Principal amount">8,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--NotionalAmount_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zmQroFZBkLw2" title="Principal amount">5,536) of the principal balance was repaid and CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_ecustom--DebtInstrumentInterestPayments_uCAD_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zeKJLoJQY0Ik" title="Interest payments">2,693 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtInstrumentInterestPayments_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zMVqLLt26Ih1" title="Interest payments">1,965) in interest was accrued. During the year ended December 31, 2024, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--NotionalAmount_iI_uCAD_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_z7c5XgVcEOs7" title="Principal amount">218,509 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--NotionalAmount_iI_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zdwp5ntpaJab" title="Principal amount">157,016) of the principal balance was repaid and CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_ecustom--DebtInstrumentInterestPayments_uCAD_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_z2xN5ImQJOs7" title="Interest payments">13,072 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--DebtInstrumentInterestPayments_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zqo2YfkUguwj" title="Interest payments">9,543) in interest was accrued.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td id="xdx_F03_zcvmsqrx2Rr5" style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(3)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On September 1, 2023, the Company entered into a promissory note with 2476393 Alberta Ltd for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--DebtSecurities_iI_uCAD_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zAO4e6qaZI79" title="Debt instruments issued">546,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--DebtSecurities_iI_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zviFgVONChA4" title="Debt instruments issued">402,115). The promissory note bears an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_znK7PJDV2Qp7" title="Interest rate">6% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024. During the year ended December 31, 2024, the Company entered into a debt settlement agreement to settle the CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--NotionalAmount_iI_uCAD_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zB64lJho1zch" title="Principal amount">546,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--NotionalAmount_iI_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zDyGN2tcQRBk" title="Principal amount">397,948) principal amount. The Company issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--WeightedAverageShares_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zxshFT5sDzra" title="Weighted average shares">546,000 shares at a deemed price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--WeightedAverageSharePrice2019_pid_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_z8BnGbz8lDk8" title="Share price">1.00 per share resulting in a CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_uCAD_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zpjHsAZosUR4" title="Gain loss on extinguishment of loan payable">109,200 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zqh0rlgas2B1" title="Gain loss on extinguishment of loan payable">81,417) loss on extinguishment of loan payable.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(4)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On December 13, 2024, Park Place Turkey Limited entered into a loan with Garanti Bank in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_c20241213__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zXjAl8160yc3" title="Principal amount">1,120,000. The loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eifrs-full--BorrowingsMaturity_c20241213__20241213__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zsUGyWRO2jqa" title="Loan, maturity date">November 13, 2025, and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20241213__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zeuXf6qEcxb6" title="Interest rate">8.25% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2025, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_ecustom--DebtInstrumentPrincipalPayments_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zP0a4uQKY8Ac" title="Principal payments">1,035,679 in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--InterestReceivable_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zZzWOGciUIx" title="Interest receivable">42,979 in interest payments. As at December 31, 2025, the loan amount had been fully repaid. During the year ended December 31, 2024, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--DebtInstrumentPrincipalPayments_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zPYA2WjPMQwk" title="Principal payments">89,857 in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--InterestReceivable_iI_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_z8HNqqUIRiZe" title="Interest receivable">7,700 in interest payments.</td></tr></table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: left">9.</td><td style="width: 5pt"></td><td style="text-align: justify">Loans Payable (continued)</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(5)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On December 18, 2024, Park Place Turkey Limited entered into a loan with Garanti Bank in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--NotionalAmount_iI_uTurkishlira_c20241218__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zPXFzbqio8a6" title="Principal amount">37,500,000 (or approximately USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--NotionalAmount_iI_uUSD_c20241218__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_z5LhtiKr9Kc6" title="Principal amount">1,070,617). The loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eifrs-full--BorrowingsMaturity_c20241218__20241218__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zRECcY33bSD7" title="Loan, maturity date">November 18, 2025, and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20241218__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zDLS1FdirQu7" title="Interest rate">52% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2025, the Company made ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_ecustom--DebtInstrumentPrincipalPayments_uTurkishlira_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zwDsKQ8X86p1" title="Principal payments">35,081,997 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_ecustom--DebtInstrumentPrincipalPayments_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_z6dLsjm8aap4" title="Principal payments">816,877) in principal payments and ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_ecustom--DebtInstrumentInterestPayments_uTurkishlira_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_znvOIL6FWMql" title="Interest payments">9,795,037 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_ecustom--DebtInstrumentInterestPayments_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zYNqv8U2wgn7" title="Interest payments">228,075) in interest payments. As at December 31, 2025, the loan amount had been fully repaid. During the year ended December 31, 2024, the Company made ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_ecustom--DebtInstrumentPrincipalPayments_uTurkishlira_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zh8iqN4HQBli" title="Principal payments">2,418,003 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_ecustom--DebtInstrumentPrincipalPayments_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zquelZkhTO7c" title="Principal payments">68,349) in principal payments and ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--DebtInstrumentInterestPayments_uTurkishlira_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zUTYQVumGrqb" title="Interest payments">1,625,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtInstrumentInterestPayments_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zxaxKmsATi33" title="Interest payments">45,933) in interest payments.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(6)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On December 27, 2024, the Company entered into a loan agreement with an officer of the Company for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--DebtSecurities_iI_uCAD_c20241227__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zmHXTWaXxOa8" title="Debt instruments issued">200,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--DebtSecurities_iI_c20241227__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zqDUvG5YK7u8" title="Debt instruments issued">138,782). The loan bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20241227__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zQ36X2mQg37l" title="Interest rate">12% per annum and is due on demand. As at December 31, 2025, the loan accrued interest of CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--InterestReceivable_iI_uCAD_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zDmxXq1NCgQj" title="Interest receivable">2,031 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--InterestReceivable_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_z54KO8tdQKS7" title="Interest receivable">1,617) (2024 - CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--InterestReceivable_iI_uCAD_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zQVDglBgmPTh" title="Interest receivable">263 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--InterestReceivable_iI_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zkr6bmWseUi4" title="Interest receivable">183)). The Company is not in default on this loan.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(7)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On July 17, 2025, Park Place Turkey Limited drew down ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--DebtSecurities_iI_uTurkishlira_c20250717__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_z8Up3uKXuMf3" title="Debt instruments issued">50,000,000 (or approximately USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--DebtSecurities_iI_uUSD_c20250717__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zlCribCwmsea" title="Debt instruments issued">1,202,380) from their overdraft facility with Ziraat Bankasi. This balance bears interest at a variable rate based on the banks effective interest rate (approximately 31% for the year ended December 31, 2025) payable at the end of each quarter. As at and for the year ended December 31, 2025, the loan accrued interest expense of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--InterestReceivable_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zxIEBEmBcMqg" title="Accrued interest expense">164,588. The Company is not in default on this loan.</td></tr></table>

Schedule of Loans Payable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20251231_zdef6Dmg7K2c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241231_zkvA9mv2fPNd" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40B_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zsKqZHQyNl6f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eifrs-full--BorrowingsInterestRate_iI_pid_dp_uPure_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneMember_zYxwkzyjn96d" title="Interest rate">6% per annum2,3</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">34,415</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">36,512</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zXs2TuDZe2N9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zBGUoNNfsov5" title="Interest rate">1% per month1</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">3,461,250</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,141,750</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zw5QFTuyF55e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zHAp2Z9Olgvi" title="Interest rate">8.25% per annum4</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,034,484</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zJC4CftgdF6f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zdgWZ3YxdC33" title="Interest rate">52% per annum5</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,009,883</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_z1af1cIHkUDl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unsecured, interest-bearing loan at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zeoHeWaernsc" title="Interest rate">12% per annum6</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">147,391</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">139,349</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--Borrowings_iI_hifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zRKU4UPNEelk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unsecured, interest-bearing loan at a variable interest rate7</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,329,003</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--Borrowings_iI_zblZiNk7A7kc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total loans payable</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">4,972,059</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,361,978</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--ShorttermBorrowings_iNI_di_zOS2Or7gZhff" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Current portion of loans payable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(4,972,059</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,361,978</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--LongtermBorrowings_iI_zEYDVjZuRm44" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Long-term portion of loans payable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> The Company is in compliance with all debt covenants on loans payable, other than as noted below, and has not received any waivers from lenders. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On July 1, 2023, the Company entered into agreements with TR1 Master Fund to borrow $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--Borrowings_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zvnZWXJuTplj">1,065,000 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--Borrowings_iI_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_z0Jf7GuRM2ij">1,597,500. The loans were issued with a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--PaymentsForDebtIssueCosts_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zcVYjyxFipSe" title="Debt discount">65,000 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--PaymentsForDebtIssueCosts_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zLdfYeZPg8u4" title="Debt discount">97,500 discount, respectively, and bear an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zVQcX0S37bJ9" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zR8b0vkFwvFf" title="Interest rate">1% per month. The maturity date was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--BorrowingsMaturity_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zo7haTt0q2pk" title="Loan, maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--BorrowingsMaturity_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zydSXYzQmLna" title="Loan, maturity date">December 31, 2023, and the Company is claiming that the principal of TR1 Master Fund agreed to extend the loans to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--BorrowingsMaturityExtend_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zs3N8wa7LPKe" title="Loan, maturity date extend"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_ecustom--BorrowingsMaturityExtend_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zoMxnMGwyrYk" title="Loan, maturity date extend">December 31, 2024. In the event that the loan is repaid in full prior to the maturity date, the minimum interest payments on the loans are $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_ecustom--InterestPaymentOnLoan_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zIXMfNCNHe1j" title="Interest payment on loan">40,000 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--InterestPaymentOnLoan_c20230701__20230701__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zmcOHnTQE7me" title="Interest payment on loan">60,000, respectively. If, during the period that any amount of the loan remains outstanding, the Company issues any equity, the Lender may demand repayment of all or part of the principal amount of the loan in an amount equal to the aggregate subscription price of the equity offering. Accrued interest in excess of the minimum interest payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eifrs-full--InterestPayable_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundOneMember_zCKbjuuCt5jj" title="Accrued interest">127,800 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--InterestPayable_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanOneFundTwoMember_zFpHFVVuYdch" title="Accrued interest">191,700, respectively were recorded during the year ended December 31, 2025. The Company is currently in default on these loans, however, the Company has filed claims in connection with the ongoing receivership proceedings of the lender and related entities, and is seeking to offset any amounts outstanding against damages claimed by the Company (Note 24).</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(2)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On July 20, 2023, the Company entered into a promissory note for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--DebtSecurities_iI_uCAD_c20230720__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zChHn8TheKL2" title="Debt instruments issued">300,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--DebtSecurities_iI_c20230720__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zlhKyqvsLA8b" title="Debt instruments issued">228,023) with a company controlled by a related party as at December 31, 2025 and 2024. The promissory note bears an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230720__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zSCQMTusuJre" title="Interest rate">6% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024, as a result, the Company is currently in default on this loan. During the year ended December 31, 2025, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_uCAD_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zsQZokNAp9qg" title="Principal amount">8,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--NotionalAmount_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zmQroFZBkLw2" title="Principal amount">5,536) of the principal balance was repaid and CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_ecustom--DebtInstrumentInterestPayments_uCAD_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zeKJLoJQY0Ik" title="Interest payments">2,693 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtInstrumentInterestPayments_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zMVqLLt26Ih1" title="Interest payments">1,965) in interest was accrued. During the year ended December 31, 2024, CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--NotionalAmount_iI_uCAD_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_z7c5XgVcEOs7" title="Principal amount">218,509 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eifrs-full--NotionalAmount_iI_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zdwp5ntpaJab" title="Principal amount">157,016) of the principal balance was repaid and CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_ecustom--DebtInstrumentInterestPayments_uCAD_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_z2xN5ImQJOs7" title="Interest payments">13,072 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_ecustom--DebtInstrumentInterestPayments_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanTwoMember_zqo2YfkUguwj" title="Interest payments">9,543) in interest was accrued.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td id="xdx_F03_zcvmsqrx2Rr5" style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(3)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On September 1, 2023, the Company entered into a promissory note with 2476393 Alberta Ltd for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eifrs-full--DebtSecurities_iI_uCAD_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zAO4e6qaZI79" title="Debt instruments issued">546,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--DebtSecurities_iI_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zviFgVONChA4" title="Debt instruments issued">402,115). The promissory note bears an interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20230901__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_znK7PJDV2Qp7" title="Interest rate">6% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024. During the year ended December 31, 2024, the Company entered into a debt settlement agreement to settle the CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--NotionalAmount_iI_uCAD_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zB64lJho1zch" title="Principal amount">546,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--NotionalAmount_iI_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zDyGN2tcQRBk" title="Principal amount">397,948) principal amount. The Company issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eifrs-full--WeightedAverageShares_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zxshFT5sDzra" title="Weighted average shares">546,000 shares at a deemed price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--WeightedAverageSharePrice2019_pid_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_z8BnGbz8lDk8" title="Share price">1.00 per share resulting in a CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_uCAD_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zpjHsAZosUR4" title="Gain loss on extinguishment of loan payable">109,200 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanThreeMember_zqh0rlgas2B1" title="Gain loss on extinguishment of loan payable">81,417) loss on extinguishment of loan payable.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(4)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On December 13, 2024, Park Place Turkey Limited entered into a loan with Garanti Bank in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--NotionalAmount_iI_c20241213__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zXjAl8160yc3" title="Principal amount">1,120,000. The loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eifrs-full--BorrowingsMaturity_c20241213__20241213__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zsUGyWRO2jqa" title="Loan, maturity date">November 13, 2025, and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20241213__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zeuXf6qEcxb6" title="Interest rate">8.25% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2025, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_ecustom--DebtInstrumentPrincipalPayments_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zP0a4uQKY8Ac" title="Principal payments">1,035,679 in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eifrs-full--InterestReceivable_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zZzWOGciUIx" title="Interest receivable">42,979 in interest payments. As at December 31, 2025, the loan amount had been fully repaid. During the year ended December 31, 2024, the Company made $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_ecustom--DebtInstrumentPrincipalPayments_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_zPYA2WjPMQwk" title="Principal payments">89,857 in principal payments and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--InterestReceivable_iI_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFourMember_z8HNqqUIRiZe" title="Interest receivable">7,700 in interest payments.</td></tr></table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: left">9.</td><td style="width: 5pt"></td><td style="text-align: justify">Loans Payable (continued)</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(5)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On December 18, 2024, Park Place Turkey Limited entered into a loan with Garanti Bank in the amount of ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eifrs-full--NotionalAmount_iI_uTurkishlira_c20241218__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zPXFzbqio8a6" title="Principal amount">37,500,000 (or approximately USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--NotionalAmount_iI_uUSD_c20241218__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_z5LhtiKr9Kc6" title="Principal amount">1,070,617). The loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eifrs-full--BorrowingsMaturity_c20241218__20241218__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zRECcY33bSD7" title="Loan, maturity date">November 18, 2025, and bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20241218__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zDLS1FdirQu7" title="Interest rate">52% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2025, the Company made ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_ecustom--DebtInstrumentPrincipalPayments_uTurkishlira_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zwDsKQ8X86p1" title="Principal payments">35,081,997 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_ecustom--DebtInstrumentPrincipalPayments_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_z6dLsjm8aap4" title="Principal payments">816,877) in principal payments and ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_ecustom--DebtInstrumentInterestPayments_uTurkishlira_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_znvOIL6FWMql" title="Interest payments">9,795,037 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_ecustom--DebtInstrumentInterestPayments_c20250101__20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zYNqv8U2wgn7" title="Interest payments">228,075) in interest payments. As at December 31, 2025, the loan amount had been fully repaid. During the year ended December 31, 2024, the Company made ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_ecustom--DebtInstrumentPrincipalPayments_uTurkishlira_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zh8iqN4HQBli" title="Principal payments">2,418,003 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_ecustom--DebtInstrumentPrincipalPayments_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zquelZkhTO7c" title="Principal payments">68,349) in principal payments and ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_ecustom--DebtInstrumentInterestPayments_uTurkishlira_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zUTYQVumGrqb" title="Interest payments">1,625,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_ecustom--DebtInstrumentInterestPayments_c20240101__20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanFiveMember_zxaxKmsATi33" title="Interest payments">45,933) in interest payments.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(6)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On December 27, 2024, the Company entered into a loan agreement with an officer of the Company for CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--DebtSecurities_iI_uCAD_c20241227__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zmHXTWaXxOa8" title="Debt instruments issued">200,000 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--DebtSecurities_iI_c20241227__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zqDUvG5YK7u8" title="Debt instruments issued">138,782). The loan bears interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eifrs-full--BorrowingsInterestRate_iI_pid_dp_c20241227__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zQ36X2mQg37l" title="Interest rate">12% per annum and is due on demand. As at December 31, 2025, the loan accrued interest of CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--InterestReceivable_iI_uCAD_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zDmxXq1NCgQj" title="Interest receivable">2,031 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eifrs-full--InterestReceivable_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_z54KO8tdQKS7" title="Interest receivable">1,617) (2024 - CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eifrs-full--InterestReceivable_iI_uCAD_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zQVDglBgmPTh" title="Interest receivable">263 (USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eifrs-full--InterestReceivable_iI_c20241231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSixMember_zkr6bmWseUi4" title="Interest receivable">183)). The Company is not in default on this loan.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(7)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On July 17, 2025, Park Place Turkey Limited drew down ₺<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--DebtSecurities_iI_uTurkishlira_c20250717__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_z8Up3uKXuMf3" title="Debt instruments issued">50,000,000 (or approximately USD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--DebtSecurities_iI_uUSD_c20250717__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zlCribCwmsea" title="Debt instruments issued">1,202,380) from their overdraft facility with Ziraat Bankasi. This balance bears interest at a variable rate based on the banks effective interest rate (approximately 31% for the year ended December 31, 2025) payable at the end of each quarter. As at and for the year ended December 31, 2025, the loan accrued interest expense of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eifrs-full--InterestReceivable_iI_c20251231__ifrs-full--BorrowingsByNameAxis__custom--UnsecuredLoanSevenMember_zxIEBEmBcMqg" title="Accrued interest expense">164,588. The Company is not in default on this loan.</td></tr></table>

0.06

34415

36512

0.01

3461250

3141750

0.0825

1034484

0.52

1009883

0.12

147391

139349

1329003

4972059

5361978

4972059

5361978

1065000

1597500

65000

97500

0.01

December 31, 2023

December 31, 2024 December 31, 2024 40000 60000

127800

191700

300000

228023

0.06

8000

5536

2693 1965

218509

157016

13072 9543

546000

402115

0.06

546000

397948

546000

1.00

109200

81417

1120000

November 13, 2025

0.0825

1035679

42979

89857

7700

37500000

1070617

November 18, 2025

0.52

35081997 816877 9795037 228075 2418003 68349 1625000 45933

200000

138782

0.12

2031

1617

263

183

50000000

1202380

164588

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">10.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Leases </td> </tr> </table> The Company leases certain assets under lease agreements. During the year ended December 31, 2023, the Company entered into three new office leases in Turkey, commencing January 1, 2023, February 15, 2023 and March 1, 2023, respectively. The leases all have a five-year 5 term. The Company used an incremental borrowing rate (“IBR”) of 35% in determining its lease liabilities. The IBR was derived from the Company’s assessment of its borrowings in Turkey. Schedule of Changes in Lease Liability <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20251231_zM7CDnTlQHk6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zQaqh9L8G8g2" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_402_eifrs-full--LeaseLiabilities_iS_z6B0DAQBtdS5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">45,373</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">141,695</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--AdditionsToLeaseLiabilities_zxgmnh1967I7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions, cost</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--InterestExpenseOnLeaseLiabilities_zAyHstFUPi8i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">9,905</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,179</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PaymentsForLeaseLiabilities_zk3kjpfkW07i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease payments</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(14,449</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22,921</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--LeaseLiabilityCurrencyTranslationAdjustment_zxHDM15jPlg3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(6,300</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,538</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ModificationOfLease_zpulbY4PqkJh" style="vertical-align: bottom; background-color: White"> <td>Modification of lease</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">12,406</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(89,042</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--TerminationOfLease_z30t9nYjU9Hi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Termination of lease</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(46,935</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--LeaseLiabilities_iE_zroT0rH6nbHd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">45,373</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> As at December 31, 2025 and December 31, 2024, the Company’s lease liability is as follows: Schedule of Lease Liability <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231_zUyk8Bf23uNb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231_zrvcPUBv9No" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_eifrs-full--CurrentLeaseLiabilities_iI_zR5hjCZIEMy7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Current portion of lease liability</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">-</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">10,356</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--NoncurrentLeaseLiabilities_iI_zdZIZ1voWgv7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Long-term portion of lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">35,017</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--LeaseLiabilities_iTI_zjklt7woMuO4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">45,373</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> During the year ended December 31, 2024, the terms of the leases commencing February 1, 2023 and March 1, 2023 were modified and the Company recorded a modification to the lease liability and right-of-use asset of $89,042 and $46,120, respectively, and a gain on lease modification of $42,922 ($46,602 adjusted for hyperinflation). During the year ended December 31, 2025, the terms of the lease commencing January 1, 2023 was modified and the Company recorded a modification to the lease liability and right-of-use asset of $12,406 and $12,406, respectively. The lease commencing March 1, 2023 was terminated and the Company recorded a gain on lease termination of $32,309 ($32,646 adjusted for hyperinflation). During the year ended December 31, 2025, $48,648 (2024 – $48,356) of short-term leases were expensed to the consolidated statements of loss and comprehensive loss. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars)

P5Y

0.35

Schedule of Changes in Lease Liability <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20251231_zM7CDnTlQHk6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zQaqh9L8G8g2" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_402_eifrs-full--LeaseLiabilities_iS_z6B0DAQBtdS5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">45,373</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">141,695</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--AdditionsToLeaseLiabilities_zxgmnh1967I7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions, cost</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--InterestExpenseOnLeaseLiabilities_zAyHstFUPi8i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">9,905</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,179</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PaymentsForLeaseLiabilities_zk3kjpfkW07i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease payments</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(14,449</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22,921</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--LeaseLiabilityCurrencyTranslationAdjustment_zxHDM15jPlg3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(6,300</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,538</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ModificationOfLease_zpulbY4PqkJh" style="vertical-align: bottom; background-color: White"> <td>Modification of lease</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">12,406</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(89,042</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--TerminationOfLease_z30t9nYjU9Hi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Termination of lease</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(46,935</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--LeaseLiabilities_iE_zroT0rH6nbHd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">45,373</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

45373

141695

9905

18179

-14449 -22921 -6300 -2538 12406 -89042 -46935

45373

As at December 31, 2025 and December 31, 2024, the Company’s lease liability is as follows: Schedule of Lease Liability <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231_zUyk8Bf23uNb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231_zrvcPUBv9No" style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_eifrs-full--CurrentLeaseLiabilities_iI_zR5hjCZIEMy7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Current portion of lease liability</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">-</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">10,356</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--NoncurrentLeaseLiabilities_iI_zdZIZ1voWgv7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Long-term portion of lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">35,017</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--LeaseLiabilities_iTI_zjklt7woMuO4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Lease liability</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">45,373</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

10356

35017

45373

-89042

46120

42922 46602 12406

12406

32309 32646

48648

48356

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">11.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Convertible debentures</td></tr> </table> On April 20, 2023, the Company entered into an agreement to issue 15,000 units of the Company (the “Units”) at a price of CAD$1,000 per unit, for gross proceeds of CAD$15,000,000 (USD$11,135,145). Each Unit will consist of CAD$1,000 (approximately USD$742) principal amount secured convertible debenture (“Debenture”) and 333 common share purchase warrants of the Company (the “Warrants”). Each Warrant will be exercisable for one common share of the Company at an exercise price of CAD$2.50 (approximately USD$1.86 at initial recognition) and shall have an expiry date of June 29, 2025. The Debentures matured on April 30, 2025 (the “Maturity Date”) and accrued interest at the rate of 12% per annum, payable semi-annually. The Company has the ability to redeem the Debentures at any time between the dates of April 30, 2024 and April 30, 2025 at a redemption price of 105% of the principal amount plus any accrued interest. At the holders’ option, the Debentures may be converted into common shares of the Company at any time, up to the earlier of the Maturity Date and the redemption of the Debentures, at a conversion price of CAD$3.00 (approximately USD$2.23 at initial recognition) per common share. The convertible debentures were determined to be a financial instrument comprising a host debt component, a conversion feature classified as equity, and freestanding warrants classified as equity. The warrants and conversion features were determined to be equity components because the exercise prices are denominated in the functional currency of the Company. Thus, these components meet the criterion of an equity instrument. The Company paid an underwriting fee of CAD$1,045,000 (USD$775,748) and issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eifrs-full--NumberOfSharesIssued_iI_c20230420__ifrs-full--ComponentsOfEquityAxis__custom--BrokerWarrantsMember_zFvxxgeBYhj3" title="Common stock, shares">300,000 broker warrants (the “Broker Warrants”) in conjunction with the financing. The Broker Warrants are exercisable for one common share of the Company at an exercise price of CAD$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvYW5zIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_uCAD_c20230420__20230420__ifrs-full--ComponentsOfEquityAxis__custom--BrokerWarrantsMember_z2BjSLb5tbG7" title="Exercise price of warrant">2.50 and shall have an expiry date of April 20, 2025. The fair value of the Broker Warrants was estimated to be $216,777 and was determined using the Black-Scholes Option Pricing Model using the following assumptions: risk-free interest rate: <span id="xdx_904_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20230420__20230420__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zxjoEsa3NhMg" title="Risk free interest rate, share options granted">3.77%, expected volatility: <span id="xdx_90F_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20230420__20230420__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zC59br980ted" title="Expected volatility, share options granted">100.96%, dividend yield: <span id="xdx_906_eifrs-full--ExpectedDividendAsPercentageShareOptionsGranted_pid_dp_uPure_c20230420__20230420__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zBXrLDn2Ff1j" title="Expected dividend as percentage, share options granted">0% and expected life: <span id="xdx_90F_ecustom--DescriptionOfExpectedYerasAsShareOptionsGranted_dtY_c20230420__20230420__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember_zxqSAw45I6N2" title="Expected Expected years, share options granted">2 years. On initial recognition, the proceeds were first allocated to the fair value of the host debt component, calculated using a market interest rate of 16%, which is the market interest rate of a debt instrument with similar terms but without the equity conversion feature. The residual proceeds were then allocated to the conversion feature and warrant equity components using the relative fair value method. <p id="xdx_897_eifrs-full--DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory_zTeoD5GGNUZ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The relative fair value of the warrants and conversion features were determined using the Black-Scholes Option Pricing Model using the assumptions set out as follows: Schedule of Fair Value Assumptions of Conversion Features <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">April 20, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_904_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--InterestRateMeasurementInputMember_zhSVDRKSKEe2" title="Warrant inputs">3.86</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zI8WHfNtnhl6" title="Warrant inputs">101.71 – <span id="xdx_906_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zqFDDitxL3qf" title="Warrant inputs">119.94</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--DividendYieldMeasurementInputMember_z9AWLFxewj0g" title="Warrant inputs">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Expected life</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20230420__20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zT8wH6B8ieRg" title="Expected life (years)">2.03–- <span id="xdx_905_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20230420__20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zmnpcR5ke9Va" title="Expected life (years)">2.19 years</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> During the year ended December 31, 2024, CAD$1,000 (USD$736) in convertible debentures were converted into 333 common shares at a conversion price of CAD$3.00 (USD$2.21). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">11.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Convertible debentures (continued)</td></tr> </table> During the year ended December 31, 2025, the Company signed a second supplemental and third supplemental debenture indenture with the debenture holders to make the following modifications to the original debenture: Second Supplemental Debenture <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">The semi-annual interest due as at April 30, 2025 will be payable in either cash or common shares of the Company (Note 14);</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">The convertible debentures’ maturity date was extended from April 30, 2025 to July 31, 2025; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">The debenture holders received an extension fee in the aggregate amount of CAD$85,000 payable in common shares as compensation for the above modifications (Note 14).</td></tr></table> Third Supplemental Debenture <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">The convertible debentures’ maturity date was extended from July 31, 2025 to October 31, 2025 (Note 25).</td></tr></table> These modifications were accounted for as an adjustment to the existing liability as the discounted present value of the cash-flows under the new terms did not exceed the quantitative threshold to be considered a substantial modification. As a result, a gain of $503,624 was recognized on the modifications. A continuity schedule of the Company’s convertible debt is as follows: Schedule of Convertible Debt <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold; text-align: justify">Balance as at December 31, 2023</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_98A_eifrs-full--NetDebt_iS_c20240101__20241231_zBhGP8OytcUa" style="width: 16%; font-weight: bold; text-align: right" title="Beginning balance">10,329,719</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Repayment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--Repayment_c20240101__20241231_zdEKHVcz7Pf3" style="text-align: right" title="Repayment">(1,312,073</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Conversion</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--Conversion_c20240101__20241231_zl71BhgjJTxg" style="text-align: right" title="Conversion">(737</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--AccretionExpenses_c20240101__20241231_zQxdDAEUSVYc" style="text-align: right" title="Accretion">880,320</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Interest</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--InterestExpense_c20240101__20241231_zlzGXKV8n6ei" style="text-align: right" title="Interest">1,317,458</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--CurrencyTranslationAdjustment_c20240101__20241231_zTGAF2Rkn3R5" style="border-bottom: Black 1pt solid; text-align: right" title="Currency translation adjustment">(849,694</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance as at December 31, 2024</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_98B_eifrs-full--NetDebt_iS_c20250101__20251231_ztaSC0mRt1Kj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Beginning balance">10,364,993</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Repayment through the issuance of shares</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--Repayment_c20250101__20251231_zmyjJ7prfz0d" style="text-align: right" title="Repayment">(649,851</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Extension fee (Note 14)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--ExtensionFee_c20250101__20251231_zlJUyNgvpdZd" style="text-align: right" title="Extension fee">(61,379</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on modification</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--GainOnModification_c20250101__20251231_zcAiKBU17QGg" style="text-align: right" title="Gain on modification">(503,624</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accretion</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--AccretionExpenses_c20250101__20251231_zElSRapRcexl" style="text-align: right" title="Accretion">858,838</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Interest</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eifrs-full--InterestExpense_c20250101__20251231_zfv5V6yLZqD4" style="text-align: right" title="Interest">1,288,067</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--CurrencyTranslationAdjustment_c20250101__20251231_z50yF4J8JAKl" style="border-bottom: Black 1pt solid; text-align: right" title="Currency translation adjustment">526,771</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance as at December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_989_eifrs-full--NetDebt_iE_c20250101__20251231_zP2QMTubMPK7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Ending balance">11,823,815</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Current</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eifrs-full--CurrentDebtInstrumentsIssued_iI_c20251231_z8lgOsjdUqib" style="text-align: right" title="Current, convertible debt">11,823,815</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_ecustom--LongTermNetDebt_iI_c20251231_zHGWvvDBxveg" style="border-bottom: Black 1pt solid; text-align: right" title="Long-term, convertible debt">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

15000

1000

15000000

11135145

1000

742

333

2.50

1.86

2025-06-29

April 30, 2025

0.12

1.05 3.00 2.23 1045000 775748

300000

2.50

2025-04-20 216777

0.0377

1.0096

P2Y 0.16

<p id="xdx_897_eifrs-full--DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory_zTeoD5GGNUZ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The relative fair value of the warrants and conversion features were determined using the Black-Scholes Option Pricing Model using the assumptions set out as follows: Schedule of Fair Value Assumptions of Conversion Features <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">April 20, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_904_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--InterestRateMeasurementInputMember_zhSVDRKSKEe2" title="Warrant inputs">3.86</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zI8WHfNtnhl6" title="Warrant inputs">101.71 – <span id="xdx_906_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__ifrs-full--HistoricalVolatilityForSharesMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zqFDDitxL3qf" title="Warrant inputs">119.94</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eifrs-full--SignificantUnobservableInputLiabilities_iI_pid_uPure_c20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--DividendYieldMeasurementInputMember_z9AWLFxewj0g" title="Warrant inputs">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Expected life</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20230420__20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zT8wH6B8ieRg" title="Expected life (years)">2.03–- <span id="xdx_905_ecustom--SignificantUnobservableInputLiabilitiesLife_dtY_c20230420__20230420__ifrs-full--BorrowingsByNameAxis__custom--WarrantsAndConversionMember__ifrs-full--UnobservableInputsAxis__custom--ExpectedLifeMeasurementInputMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zmnpcR5ke9Va" title="Expected life (years)">2.19 years</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

3.86

101.71

119.94

P2Y10D P2Y2M8D

1000

736

333

3.00

2.21

85000 -503624 A continuity schedule of the Company’s convertible debt is as follows: Schedule of Convertible Debt <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold; text-align: justify">Balance as at December 31, 2023</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_98A_eifrs-full--NetDebt_iS_c20240101__20241231_zBhGP8OytcUa" style="width: 16%; font-weight: bold; text-align: right" title="Beginning balance">10,329,719</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Repayment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--Repayment_c20240101__20241231_zdEKHVcz7Pf3" style="text-align: right" title="Repayment">(1,312,073</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Conversion</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--Conversion_c20240101__20241231_zl71BhgjJTxg" style="text-align: right" title="Conversion">(737</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--AccretionExpenses_c20240101__20241231_zQxdDAEUSVYc" style="text-align: right" title="Accretion">880,320</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Interest</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--InterestExpense_c20240101__20241231_zlzGXKV8n6ei" style="text-align: right" title="Interest">1,317,458</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--CurrencyTranslationAdjustment_c20240101__20241231_zTGAF2Rkn3R5" style="border-bottom: Black 1pt solid; text-align: right" title="Currency translation adjustment">(849,694</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance as at December 31, 2024</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_98B_eifrs-full--NetDebt_iS_c20250101__20251231_ztaSC0mRt1Kj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Beginning balance">10,364,993</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Repayment through the issuance of shares</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--Repayment_c20250101__20251231_zmyjJ7prfz0d" style="text-align: right" title="Repayment">(649,851</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Extension fee (Note 14)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--ExtensionFee_c20250101__20251231_zlJUyNgvpdZd" style="text-align: right" title="Extension fee">(61,379</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on modification</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--GainOnModification_c20250101__20251231_zcAiKBU17QGg" style="text-align: right" title="Gain on modification">(503,624</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accretion</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--AccretionExpenses_c20250101__20251231_zElSRapRcexl" style="text-align: right" title="Accretion">858,838</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Interest</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eifrs-full--InterestExpense_c20250101__20251231_zfv5V6yLZqD4" style="text-align: right" title="Interest">1,288,067</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Currency translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--CurrencyTranslationAdjustment_c20250101__20251231_z50yF4J8JAKl" style="border-bottom: Black 1pt solid; text-align: right" title="Currency translation adjustment">526,771</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance as at December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_989_eifrs-full--NetDebt_iE_c20250101__20251231_zP2QMTubMPK7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Ending balance">11,823,815</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Current</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eifrs-full--CurrentDebtInstrumentsIssued_iI_c20251231_z8lgOsjdUqib" style="text-align: right" title="Current, convertible debt">11,823,815</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_ecustom--LongTermNetDebt_iI_c20251231_zHGWvvDBxveg" style="border-bottom: Black 1pt solid; text-align: right" title="Long-term, convertible debt">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

10329719

-1312073 -737 880320

1317458

-849694

10364993

-649851 -61379 -503624 858838

1288067

526771

11823815

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">12.</td> <td style="font: 10pt Times New Roman, Times, Serif">Asset Retirement Obligation</td></tr> </table> The following is a continuity of the Company’s asset retirement obligations: Schedule of Asset Retirement Obligations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20251231_z290jGu4eBjc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240101__20241231_z3DnEYCy3KM3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--AssetRetirementObligations_iS_z661ABidh4dd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">5,895,209</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,247,027</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AssetRetirementObligationAddition_ztNM7ACFVjFd" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AssetRetirementObligationAccretionExpenses_zxQO0SmDdgwb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accretion expense</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">269,386</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">269,114</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AssetRetirementObligationImpactOfHyperinflation_znCF4ifVtkr6" style="vertical-align: bottom; background-color: White"> <td>Impact of hyperinflation</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(133,603</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(174,899</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--AssetRetirementObligationCurrencyTranslationAdjustment_zf16lJ2tGRib" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">140,276</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">165,667</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AssetRetirementObligationRevisionOfEstimates_zlrgXOEYYVG2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in estimate</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">240,789</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(611,700</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--AssetRetirementObligations_iE_z8T08yKpiY6b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6,412,057</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">5,895,209</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> </table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">12.</td> <td style="font: 10pt Times New Roman, Times, Serif">Asset Retirement Obligation (continued)</td></tr> </table> The Company’s asset retirement obligations (“ARO”) result from its interest in oil and gas assets including well sites. The total ARO is estimated based on the Company’s net ownership interest in all sites, estimated costs to reclaim and abandon these wells and the estimated timing of the costs to be included in future years. The Company estimated the total undiscounted amount required to settle the ARO as at December 31, 2025 is $8 million (December 31, 2024 – $8million). The ARO is calculated using an inflation rate of 2.5% (December 31, 2024 – 2.5%) and discounted using a risk free rate of 4.49% (December 31, 2024 – 4.75%) between 10 and 20 years. During 2023, the Company and TPAO agreed to establish a close out-fund (the “Close-Out Fund”) in a US dollar bank account. The amounts accumulated in the Close-Out Fund will not be used for any purpose other than to cover the cost of close-out of the SASB project. The US dollar bank account is held by TPAO. Starting with the July 2023 natural gas revenue, each party agreed to transfer 10% of its revenue into the Close-Out Fund on a monthly basis, until an amount agreed to by both parties is attained. The Company accounted for its share in the Close-Out Fund as a long-term deposit (Note 4). As at December 31, 2025, the Company share of the Close-Out Fund amounted to $756,634 (December 31, 2024 – $686,159). The following is a continuity of the Company’s asset retirement obligations: Schedule of Asset Retirement Obligations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20251231_z290jGu4eBjc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240101__20241231_z3DnEYCy3KM3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--AssetRetirementObligations_iS_z661ABidh4dd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">5,895,209</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,247,027</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AssetRetirementObligationAddition_ztNM7ACFVjFd" style="vertical-align: bottom; background-color: White"> <td>Additions</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AssetRetirementObligationAccretionExpenses_zxQO0SmDdgwb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accretion expense</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">269,386</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">269,114</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AssetRetirementObligationImpactOfHyperinflation_znCF4ifVtkr6" style="vertical-align: bottom; background-color: White"> <td>Impact of hyperinflation</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(133,603</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(174,899</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--AssetRetirementObligationCurrencyTranslationAdjustment_zf16lJ2tGRib" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Currency translation adjustment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">140,276</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">165,667</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AssetRetirementObligationRevisionOfEstimates_zlrgXOEYYVG2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in estimate</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">240,789</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(611,700</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--AssetRetirementObligations_iE_z8T08yKpiY6b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6,412,057</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">5,895,209</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> </table> 5895209 6247027 269386 269114 -133603 -174899 140276 165667 240789 -611700 6412057 5895209 8000000 8000000 0.025 0.025 0.0449 0.0475 P10Y P20Y 0.10

756634

686159

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">13.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Notes and Amounts Receivable for Equity Issued</td></tr> </table> Schedule of Notes and Amounts Receivable for the Equity Issued <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zxaZfnWsJpCl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231_z1293jLkWtp" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_ecustom--NotesReceivableForEquityIssued_iI_maNAARFzYuF_zJbqp6MDVz4a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Notes receivable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">-</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">90,425</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AmountsReceivableForEquityIssued_iI_maNAARFzYuF_z7DbaDiXASXf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amounts receivable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--NotesAndAmountsReceivableForEquityIssued_iI_zjZ7yNOYJyM6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Notes and amounts receivable for equity issued</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">90,425</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> The notes receivable bear interest at 5%. The amounts receivable are non-interest bearing and due on demand. The following is a continuity of the Company’s notes and other receivables: Schedule of Note and Other Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B3_ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis_custom--NotesReceivablesMember_zAMvMauFbqj4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes receivable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B9_ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis_custom--AmountsReceivableMember_z951I6qu3DJj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amounts receivable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B3_zEZnIWCr8zpb" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_439_c20240101__20241231_eifrs-full--NotesAndDebenturesIssued_iS_zjUMDHVEZIL6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; width: 40%">Balance, December 31, 2023</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; text-align: left; width: 1%">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 16%">97,907</td><td style="padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; text-align: left; width: 1%">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 16%">15,402</td><td style="padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; text-align: left; width: 1%">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 16%">113,309</td><td style="padding-bottom: 1pt; text-align: left; width: 1%"> </td></tr> <tr id="xdx_40A_eifrs-full--ProceedsFromIssueOfBondsNotesAndDebentures_zVpzzWtcBNfi" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,800</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--RepaymentsOfBondsNotesAndDebentures_iN_di_z0kCqWLKXg1b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,482</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,230</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,712</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--NotesAndAmountsReceivableForEquityIssuedWriteoff_iN_di_zkUsieHqAY9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Write-off</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,972</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,972</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43A_c20250101__20251231_eifrs-full--NotesAndDebenturesIssued_iS_zuH7mWzmEu4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">90,425</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">90,425</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--NotesAndAmountsReceivableForEquityIssuedWriteoff_iN_di_zOvEy7RZLcv1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Write-off</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(90,425</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(90,425</td><td style="text-align: left">)</td></tr> <tr id="xdx_435_c20250101__20251231_eifrs-full--NotesAndDebenturesIssued_iE_zFKi7REQsajb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> During the year ended December 31, 2025, the Company recorded a $101,303 (2024 - $15,439 and 2023 - $Nil) loss on the write-off of notes and other receivables related to the write-off of notes receivable balances and interest accrued. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars)

Schedule of Notes and Amounts Receivable for the Equity Issued <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zxaZfnWsJpCl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231_z1293jLkWtp" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_ecustom--NotesReceivableForEquityIssued_iI_maNAARFzYuF_zJbqp6MDVz4a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Notes receivable</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">-</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">90,425</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AmountsReceivableForEquityIssued_iI_maNAARFzYuF_z7DbaDiXASXf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amounts receivable</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--NotesAndAmountsReceivableForEquityIssued_iI_zjZ7yNOYJyM6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Notes and amounts receivable for equity issued</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">90,425</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

90425 90425

0.05

The following is a continuity of the Company’s notes and other receivables: Schedule of Note and Other Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B3_ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis_custom--NotesReceivablesMember_zAMvMauFbqj4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes receivable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B9_ifrs-full--LiabilitiesArisingFromFinancingActivitiesAxis_custom--AmountsReceivableMember_z951I6qu3DJj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amounts receivable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B3_zEZnIWCr8zpb" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_439_c20240101__20241231_eifrs-full--NotesAndDebenturesIssued_iS_zjUMDHVEZIL6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; width: 40%">Balance, December 31, 2023</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; text-align: left; width: 1%">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 16%">97,907</td><td style="padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; text-align: left; width: 1%">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 16%">15,402</td><td style="padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; text-align: left; width: 1%">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 16%">113,309</td><td style="padding-bottom: 1pt; text-align: left; width: 1%"> </td></tr> <tr id="xdx_40A_eifrs-full--ProceedsFromIssueOfBondsNotesAndDebentures_zVpzzWtcBNfi" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,800</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--RepaymentsOfBondsNotesAndDebentures_iN_di_z0kCqWLKXg1b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Repayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,482</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,230</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,712</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--NotesAndAmountsReceivableForEquityIssuedWriteoff_iN_di_zkUsieHqAY9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Write-off</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,972</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,972</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43A_c20250101__20251231_eifrs-full--NotesAndDebenturesIssued_iS_zuH7mWzmEu4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">90,425</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">90,425</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--NotesAndAmountsReceivableForEquityIssuedWriteoff_iN_di_zOvEy7RZLcv1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Write-off</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(90,425</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(90,425</td><td style="text-align: left">)</td></tr> <tr id="xdx_435_c20250101__20251231_eifrs-full--NotesAndDebenturesIssued_iE_zFKi7REQsajb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

97907

15402

113309

2800

7482

14230

21712

3972 3972

90425

90425 90425 101303 15439

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">14.</td><td style="text-align: justify">Common Stock</td> </tr></table> The Company has an unlimited number of common shares authorized with no par value. As at December 31, 2025, 41,624,457 common shares were issued and outstanding (December 31, 2024 – 31,897,753). For the year ended December 31, 2025 During the year ended December 31, 2025, the Company issued 3,290,889 shares with a fair value of $400,767 to settle debt of $520,809 and recognized a gain on the settlement of $120,042. During the year ended December 31, 2025, the Company issued 466,483 shares valued at $73,857 for services rendered and to settle $6,000 in obligation to issue shares. The Company recognized a gain on the settlement of $<span id="xdx_903_eifrs-full--GainsOnLitigationSettlements_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitMember_zDl7pwLzxPg" title="Gains on litigation settlements">2,500. In addition, the Company incurred $54,042 in obligation to issue shares related to management and consulting fees that will be settled in shares. During the year ended December 31, 2025, the Company issued <span id="xdx_901_ecustom--StockIssuedForDebtSettlementInterestPayable_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_zlcdwB3MLKBl" title="Stock issued for settlement nterest payable, shares">5,454,181 shares valued at $<span id="xdx_90B_ecustom--StockIssuedForDebtSettlementInterestPayableValue_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_ztOfoS4eqMq1" title="Stock issued for settlement nterest payable">689,236 to settle interest payable of $649,851 on convertible debentures and recognized a loss on the settlement of $<span id="xdx_90B_eifrs-full--GainsOnLitigationSettlements_c20250101__20251231__ifrs-full--TypesOfAntidilutiveInstrumentsAxis__ifrs-full--ConvertibleInstrumentsMember_zypXzcPBSMc7" title="Gains on litigation settlements">39,385 (Note 11). During the year ended December 31, 2025, the Company issued <span id="xdx_90E_ecustom--StockIssuedForDebtSettlementOfExtensionFee_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_zSqMHfWYyUzg" title="Stock issued for settlement on extension fee, shares">515,151 shares valued at $<span id="xdx_907_ecustom--StockIssuedForDebtSettlementOfExtensionFeeValue_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_z4XMIGOzKurb" title="Stock issued for settlement on extension fee">65,099 to settle an extension fee of CAD$85,000 (USD$61,379) related to the extension of the maturity date of the convertible debenture from April 30, 2025 to July 31, 2025. The Company recognized a loss on the settlement of $3,720 (Note 11). For the year ended December 31, 2024 During the year ended December 31, 2024, the Company issued <span id="xdx_903_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_zz6IwIyC9P2k" title="Warrants to purchase shares">67 shares pursuant to the conversion of CAD$1,000 (USD$737) in convertible debentures (Note 11). During the year ended December 31, 2024, the Company issued 5,369,573 units at CAD$<span id="xdx_90B_ecustom--ShareIssuedPricePerShare_iI_uCADPShares_c20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zPHmO8reOvt3" title="Share issued price per share">0.45 per unit for gross proceeds of CAD$<span id="xdx_90E_ecustom--ProceedsFromSharesIssued_uCAD_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_z4G0lIr168Z5" title="Proceeds from shares issued">2,416,308 (USD$<span id="xdx_901_ecustom--ProceedsFromSharesIssued_uUSD_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zDXawCuAkG0d" title="Proceeds from shares issued">1,769,508) pursuant to the closing of non-brokered private placements. Each unit comprises one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share for CAD$0.90 for two years from the date of the closing of the offering. As the fair value of the common shares on the same date exceeded the issuance price, no residual value was assigned to the warrants. Cash finder’s fee of CAD$<span id="xdx_907_eifrs-full--PaymentsForShareIssueCosts_pp0p0_uCAD_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember_zoNIJHDpheMc" title="Payment of cash finder's fee">92,407 (USD$67,711) were paid and <span id="xdx_908_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20240101__20241231__ifrs-full--ComponentsOfEquityAxis__custom--FindersWarrantsMember_zw06s74l7Z9b" title="Number of warrants, Issued">205,349 finder’s warrants were issued with a fair value of $53,755. The finder’s warrants are exercisable into one common share at CAD$0.45 for two years from the closing of the offering. As at December 31, 2024, subscription proceeds of CAD$<span id="xdx_908_eifrs-full--IssueOfEquity_pp0p0_uCAD_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--ProductsAndServicesAxis__custom--DebtSettlementMember_zQFftrH9Q861" title="Fair value of share issued">3,836 (USD$<span id="xdx_90B_eifrs-full--IssueOfEquity_pp0p0_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--NonBrokeredPrivatePlacementMember__ifrs-full--ProductsAndServicesAxis__custom--DebtSettlementMember_zDhaLg0cKRS9" title="Fair value of share issued">2,800) are still owed to the Company. During the year ended December 31, 2024, the Company issued 431,115 shares for RSU’s which were granted and vested during the year and during previous periods. As a result, $283,095 in previously recorded obligation to issue shares was settled, $85,634 was transferred out of reserves, and $37,727 of RSU obligation was settled. During the year ended December 31, 2024, the Company issued 1,374,059 shares and 1,110,251 units with a fair value of $1,470,079 to settle debt and obligation to issue shares of $1,200,977 and recognized a loss on the settlement of $264,050 and a loss on issuance of shares of $5,052. Each unit consists of one common share and one share purchase warrant. Each share purchase warrant is exercisable at CAD$0.90 and expires two years from the date of issuance. During the year ended December 31, 2024, the Company issued 277,131 shares and 278,667 units valued at $264,648 for services rendered or to be rendered. Shares valued at $12,872 were owed from prior periods. Each unit consists of one common share and one share purchase warrant. Each share purchase warrant is exercisable at CAD$0.90 and expires two years from the date of issuance. During the year ended December 31, 2024, $33,111 in RSUs accrued in a prior period was reversed out of reserves. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">14.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Common Stock (continued)</td></tr> </table> During the year ended December 31, 2024, the Company issued shares for the exercise of warrants as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">6,728 common shares for the exercise of 6,728 warrants at CAD$0.45 (approximately USD$0.35) for cash proceeds of CAD$3,027 (USD$2,217). As a result, $1,728 was transferred from warrant and option reserve to share capital.</td></tr></table> For the year ended December 31, 2023 On November 28, 2023, the Company completed a short form prospectus, issuing 7,211,587 common shares of the Company at a price of CAD$1.50 (approximately USD$1.1) per common share for aggregate gross proceeds of CAD$10,817,380 (approximately USD$7,960,687). Cash finder’s fee of CAD$737,934 (USD$543,057) were paid and <span id="xdx_905_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--WarrantsMember_zb0cLC4eGYJ3" title="Number of warrants, Issued">420,345 finder’s warrants were issued. The finder’s warrants are exercisable to purchase one common share of the Company at an exercise price of CAD$1.50 (approximately USD$1.10) until November 28, 2025. The finder’s warrants issued have a fair value of CAD$353,288 (approximately USD$259,955). During the year ended December 31, 2023, the Company issued 30,000 shares with a fair value of $212,632 to settle debt of $195,290 and recognized a loss on the settlement of $17,342. During the year ended December 31, 2023, the Company issued 352,561 shares for RSU’s which were granted and vested in previous periods. During the year ended December 31, 2023, 1,000 warrants with an exercise price of CAD$3.00 (approximately USD$2.20) were exercised for gross proceeds of CAD$3,000 (USD$2,215). During the year ended December 31, 2023, the Company issued 12,000 shares valued at $29,299 for services rendered valued at $11,957. A $17,342 loss on the issuance of shares was recognized. During the year ended December 31, 2023, the Company entered into a consulting agreement pursuant to which an obligation to issue shares valued at $18,873 was accrued. The obligation to issue shares relate to 20,000 shares owed as a signing bonus and 5,000 shares owed relating to services rendered. During the year ended December 31, 2023, the Company issued shares for the exercise of options as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">8,000 common shares for the exercise of 8,000 options at CAD$3.75 (approximately USD$2.75) for cash proceeds of CAD$30,000 (USD$21,872). As a result, $18,475 was transferred from option reserves to share capital; and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">14,000 common shares for the exercise of 14,000 options at CAD$11.00 (approximately USD$8.10) for cash proceeds of CAD$154,000 (USD$113,717). As a result, $72,050 was transferred from option reserves to share capital.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">14,000 common shares for the exercise of 14,000 options at CAD$4.00 (approximately USD$<span id="xdx_904_eifrs-full--ExercisePriceShareOptionsGranted2019_uUSDPShares_c20230101__20231231__ifrs-full--ComponentsOfEquityAxis__custom--StockOptionsTwoMember_zB54TSw6BIc4" title="Exercise price share options granted">3.00) for cash proceeds of CAD$56,453 (USD$42,000). As a result, $35,174 was transferred from option reserves to share capital.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">12,000 common shares for the exercise of 12,000 options at CAD$3.75 (approximately USD$2.80) for cash proceeds of CAD$45,000 (USD$33,479). As a result, $29,939 was transferred from option reserves to share capital.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">40,000 common shares for the exercise of 40,000 options at CAD$11.00 (approximately USD$8.30) for cash proceeds of CAD $440,000 (USD$331,796). As a result, $273,583 was transferred from option reserves to share capital.</td></tr></table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars)

41624457

31897753

3290889

400767

520809

120042

466483

73857

6000

2500

54042 5454181 689236

649851

39385

515151 65099

85000

61379

April 30, 2025

3720

1000

737

5369573

0.45 2416308 1769508 0.90

92407

67711

205349

53755

0.45

3836

2800

431115

283095

85634

37727

1374059

1110251

1470079

1200977

264050

5052

0.90

277131

278667

264648

12872

33111

6728

0.45

0.35

3027

2217

1728

7211587

1.50

1.1

10817380

7960687

737934

543057

420345

1.50

1.10

353288 259955

30000

212632

195290

17342

352561

1000

3.00 2.20 3000 2215

12000

29299

11957 17342

18873

20000

5000

8000

3.75

2.75

30000

21872

18475

14000

11.00

8.10

154000

113717

72050

14000

4.00

3.00

56453

42000

35174

12000

3.75

2.80

45000

33479

29939

40000

11.00

8.30

440000

331796

273583

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">15.</td> <td style="font: 10pt Times New Roman, Times, Serif">Stock Options</td></tr> </table> The Board of Directors adopted the Trillion Energy International Inc. 2022 Long-Term Incentive Equity Plan (the “2022 Plan”) effective as of December 1, 2022. The 2022 Plan permits grants of stock options and restricted stock awards and other stock-based awards. Under the 2022 Plan, the maximum number of shares of authorized stock that may be delivered is <span id="xdx_906_ecustom--NumberOfSharesOfCommonStockIssuedAndOutstandingPercentage_pid_dp_uPure_c20250101__20251231__custom--PlansNameAxis__custom--TwoThousandAndTwentyTwoLongTermIncentiveEquityPlanMember_zCz1EMetlMQ9" title="Number of shares issued and outstanding percentage">10% of the total number of shares of common stock issued and outstanding of the Company as determined on the applicable date of grant of an award under the 2022 Plan. Under the 2022 Plan, the exercise price of each option shall be determined by the Board of Directors, subject to any applicable Exchange approval or rules, at the time any option or other stock-based award is granted. In no event shall such exercise price be lower than the exercise price permitted by the Exchange. The vesting schedule for each option or other stock-based award shall be specified by the Board of Directors at the time of grant, subject to any applicable Exchange approval or rules. <p id="xdx_894_eifrs-full--DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_zcxAq3olyacd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">A continuity of the Company’s outstanding stock options for the year ended December 31, 2025, 2024, and 2023 is presented below: Summary of Changes in Stock Options <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average exercise price (CAD)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Outstanding, December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20230101__20231231_zzOvZQrX6Abe" style="width: 16%; text-align: right" title="Number of options outstanding, Ending Balance">460,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20230101__20231231_zzIC0n9sNCFa" style="width: 16%; text-align: right" title="Weighted average exercise price, Ending Balance">6.35</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pp0d_uShares_c20240101__20241231_zVBCk60IES6j" style="text-align: right" title="Number of options outstanding, Granted">2,330,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231_zYneKFjzlOz2" style="text-align: right" title="Weighted average exercise price, Granted">0.80</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20230101__20231231_zOwWcZAw0KFa" style="text-align: right" title="Number of options outstanding, Exercised">(88,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231_zqcWWAUg3Xw5" style="text-align: right" title="Weighted average exercise price, Exercised">8.25</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20230101__20231231_zcYbL9u84Aif" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Expired">(48,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231_zVpKH3GVstT1" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Expired">3.95</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20240101__20241231_z5Y0MKK9sBHa" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, forfeited">(113,200</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231_zw8WLzM1U9Vk" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited">6.60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding, December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20240101__20241231_zjdNXRz0Cbug" style="text-align: right" title="Number of options outstanding, Beginning Balance">324,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20240101__20241231_ztG6i5U1a2j8" style="text-align: right" title="Weighted average exercise price, Beginning Balance">6.20</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pp0d_uShares_c20240101__20241231_zO7TBYJxXK9j" style="text-align: right" title="Number of options outstanding, Granted">2,330,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231_zTJPv5UhWRSa" style="text-align: right" title="Weighted average exercise price, Granted">0.80</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20240101__20241231_zGBu2dHC7hzj" style="text-align: right" title="Number of options outstanding, Expired">(138,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231_zCfCacwaUqEf" style="text-align: right" title="Weighted average exercise price, Expired">4.50</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20240101__20241231_zg9W42KmXvDg" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, forfeited">(113,200</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231_zXIF05YNjwWd" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited">6.60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding and Exercisable, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20250101__20251231_zAvbn4VVdmnd" style="text-align: right" title="Number of options outstanding, Beginning Balance">2,402,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20250101__20251231_z9Mw0Lw4z6q" style="text-align: right" title="Weighted average exercise price, Beginning Balance">1.05</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20250101__20251231_zACTJBBpPQJh" style="text-align: right" title="Number of options outstanding, Expired">(62,800</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20250101__20251231_zwJ8kh5KBmzd" style="text-align: right" title="Weighted average exercise price, Expired">8.61</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20250101__20251231_znpKJUfnzXSl" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Cancelled">(40,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_uCADPShares_c20250101__20251231_zkSMwdMIekMh" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Cancelled">1.00</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Outstanding and Exercisable, December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfOutstandingShareOptions_iE_uShares_c20250101__20251231_zi5Rwlsv2un8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Ending Balance">2,300,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_984_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iE_uCADPShares_c20250101__20251231_zK2sJLsudHV" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Ending Balance">0.85</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_893_ecustom--DisclosureOfSharebasedPaymentArrangementsOptionsOutstandingAndExercisableExplanatory_zTHpsUN7ZOZh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">At December 31, 2025 the Company had the following outstanding stock options: Schedule of Stock Options Outstanding and Exercisable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry Date</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Vested</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zK8aoBWsZ4yg" style="width: 16%; text-align: right" title="Number of Options Outstanding">10,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 16%; text-align: right"><span id="xdx_908_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zi5P9RThYZql" title="Exercise Price">9.50 CAD</td><td style="width: 2%"> </td> <td id="xdx_98D_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zvVMFbUnEyO5" style="width: 42%; text-align: right" title="Expiry Date">June 6, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zkJ2ow4OJiD5" style="width: 16%; text-align: right" title="Number of Options Vested">10,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOutstandingShareOptions_iI_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zKnpjiAjOYTh" style="text-align: right" title="Number of Options Outstanding">40,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90A_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zAagom1codya" title="Exercise Price">1.50 CAD</td><td> </td> <td id="xdx_98F_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zwYXrpnPE7Vg" style="text-align: right" title="Expiry Date">January 2, 2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zZxfGnvvcW2b" style="text-align: right" title="Number of Options Vested">40,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zVwJspD3ojSe" style="text-align: right" title="Number of Options Outstanding">50,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_903_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zpq4CJqhpmLe" title="Exercise Price">1.00 CAD</td><td> </td> <td id="xdx_981_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zberUOuf00j7" style="text-align: right" title="Expiry Date">February 15, 2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zWvpSzXoga19" style="text-align: right" title="Number of Options Vested">50,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_981_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_zB2oomLD06ef" style="text-align: right" title="Number of Options Outstanding">100,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90D_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_z2hbYZdQxjUj" title="Exercise Price">1.25 CAD</td><td> </td> <td id="xdx_989_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_zO1V9NvYFHfc" style="text-align: right" title="Expiry Date">February 28, 2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_z2EqwXulT7C9" style="text-align: right" title="Number of Options Vested">100,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_zRWVdkpRxlD" style="text-align: right" title="Number of Options Outstanding">490,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_901_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_zh38WVrTIaHk" title="Exercise Price">1.00 CAD</td><td> </td> <td id="xdx_98D_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_ztwtOpODHvB5" style="text-align: right" title="Expiry Date">March 8, 2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_znMIzCjWpyfi" style="text-align: right" title="Number of Options Vested">490,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zu91g9HPayX6" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding">1,610,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"><span id="xdx_904_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zuBkquJxLdr5" title="Exercise Price">0.70 CAD</td><td style="padding-bottom: 1pt"> </td> <td id="xdx_98C_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zwayQNWLZvok" style="text-align: right; padding-bottom: 1pt" title="Expiry Date">August 12, 2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zOqzhQN9heyg" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Vested">1,610,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231_zredXbz98htg" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding">2,300,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: justify; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231_zREPWT1D4KO3" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Vested">2,300,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> As at December 31, 2025, the weighted average remaining contractual life of outstanding stock options is 2.84 years (December 31, 2024 – 3.77 years). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">15.</td> <td style="font: 10pt Times New Roman, Times, Serif">Stock Options (continued)</td></tr> </table> For the year ended December 31, 2025, the Company recognized $Nil (2024 - $877,629 and 2023 - $118,202) in stock-based compensation expense for options granted and vested. At December 31, 2025, the Company has $<span id="xdx_90C_eifrs-full--ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets_dxL_c20250101__20251231_zrOz1jQ5rEIe" title="Unrecognized compensation expenses::XDX::-">Nil (December 31, 2024 - $<span id="xdx_908_eifrs-full--ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets_dxL_c20240101__20241231_zsg8ObTn0t5e" title="Unrecognized compensation expenses::XDX::-">Nil) in unrecognized compensation expense related to stock options. <p id="xdx_892_ecustom--DisclosureOfMeasurementInputsAndValidationTechniquesForWeightedAverageAssumptionsExplanatory_ziiy1KYFdm32" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair values for stock options granted during the year ended December 31, 2025, 2024, and 2023 have been estimated using the Black-Scholes option pricing model using the following weighted average assumptions: Schedule of Fair Value of Black-Scholes Option Pricing Modeling <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 95%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Risk-free interest rate</td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: center">2.92 – 3.84%</td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected life (years)</td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: center">3 – 5</td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: center"><span id="xdx_907_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20240101__20241231__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zHYajmYYuILg" title="Expected volatility">111 – 129%</td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify">Dividend yield</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">N/A</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">0%</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Forfeiture rate</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">N/A</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">0%</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">N/A</td></tr> </table>

0.10

<p id="xdx_894_eifrs-full--DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_zcxAq3olyacd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">A continuity of the Company’s outstanding stock options for the year ended December 31, 2025, 2024, and 2023 is presented below: Summary of Changes in Stock Options <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average exercise price (CAD)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Outstanding, December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20230101__20231231_zzOvZQrX6Abe" style="width: 16%; text-align: right" title="Number of options outstanding, Ending Balance">460,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20230101__20231231_zzIC0n9sNCFa" style="width: 16%; text-align: right" title="Weighted average exercise price, Ending Balance">6.35</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pp0d_uShares_c20240101__20241231_zVBCk60IES6j" style="text-align: right" title="Number of options outstanding, Granted">2,330,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231_zYneKFjzlOz2" style="text-align: right" title="Weighted average exercise price, Granted">0.80</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20230101__20231231_zOwWcZAw0KFa" style="text-align: right" title="Number of options outstanding, Exercised">(88,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231_zqcWWAUg3Xw5" style="text-align: right" title="Weighted average exercise price, Exercised">8.25</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20230101__20231231_zcYbL9u84Aif" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Expired">(48,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231_zVpKH3GVstT1" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Expired">3.95</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20240101__20241231_z5Y0MKK9sBHa" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, forfeited">(113,200</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231_zw8WLzM1U9Vk" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited">6.60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding, December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20240101__20241231_zjdNXRz0Cbug" style="text-align: right" title="Number of options outstanding, Beginning Balance">324,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20240101__20241231_ztG6i5U1a2j8" style="text-align: right" title="Weighted average exercise price, Beginning Balance">6.20</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pp0d_uShares_c20240101__20241231_zO7TBYJxXK9j" style="text-align: right" title="Number of options outstanding, Granted">2,330,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231_zTJPv5UhWRSa" style="text-align: right" title="Weighted average exercise price, Granted">0.80</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20240101__20241231_zGBu2dHC7hzj" style="text-align: right" title="Number of options outstanding, Expired">(138,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231_zCfCacwaUqEf" style="text-align: right" title="Weighted average exercise price, Expired">4.50</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20240101__20241231_zg9W42KmXvDg" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, forfeited">(113,200</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231_zXIF05YNjwWd" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited">6.60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding and Exercisable, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfOutstandingShareOptions_iS_uShares_c20250101__20251231_zAvbn4VVdmnd" style="text-align: right" title="Number of options outstanding, Beginning Balance">2,402,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20250101__20251231_z9Mw0Lw4z6q" style="text-align: right" title="Weighted average exercise price, Beginning Balance">1.05</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eifrs-full--NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20250101__20251231_zACTJBBpPQJh" style="text-align: right" title="Number of options outstanding, Expired">(62,800</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20250101__20251231_zwJ8kh5KBmzd" style="text-align: right" title="Weighted average exercise price, Expired">8.61</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pp0d_di_uShares_c20250101__20251231_znpKJUfnzXSl" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Cancelled">(40,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_uCADPShares_c20250101__20251231_zkSMwdMIekMh" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Cancelled">1.00</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Outstanding and Exercisable, December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eifrs-full--NumberOfOutstandingShareOptions_iE_uShares_c20250101__20251231_zi5Rwlsv2un8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Ending Balance">2,300,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_984_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iE_uCADPShares_c20250101__20251231_zK2sJLsudHV" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Ending Balance">0.85</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

460000

6.35

2330000

0.80

88000

8.25

48000

3.95

113200

6.60

324000

6.20

2330000

0.80

138000

4.50

113200

6.60

2402800

1.05

62800

8.61

40000

1.00

2300000

0.85

<p id="xdx_893_ecustom--DisclosureOfSharebasedPaymentArrangementsOptionsOutstandingAndExercisableExplanatory_zTHpsUN7ZOZh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">At December 31, 2025 the Company had the following outstanding stock options: Schedule of Stock Options Outstanding and Exercisable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry Date</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Vested</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zK8aoBWsZ4yg" style="width: 16%; text-align: right" title="Number of Options Outstanding">10,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 16%; text-align: right"><span id="xdx_908_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zi5P9RThYZql" title="Exercise Price">9.50 CAD</td><td style="width: 2%"> </td> <td id="xdx_98D_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zvVMFbUnEyO5" style="width: 42%; text-align: right" title="Expiry Date">June 6, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceOneMember_zkJ2ow4OJiD5" style="width: 16%; text-align: right" title="Number of Options Vested">10,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOutstandingShareOptions_iI_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zKnpjiAjOYTh" style="text-align: right" title="Number of Options Outstanding">40,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90A_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zAagom1codya" title="Exercise Price">1.50 CAD</td><td> </td> <td id="xdx_98F_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zwYXrpnPE7Vg" style="text-align: right" title="Expiry Date">January 2, 2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceTwoMember_zZxfGnvvcW2b" style="text-align: right" title="Number of Options Vested">40,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zVwJspD3ojSe" style="text-align: right" title="Number of Options Outstanding">50,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_903_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zpq4CJqhpmLe" title="Exercise Price">1.00 CAD</td><td> </td> <td id="xdx_981_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zberUOuf00j7" style="text-align: right" title="Expiry Date">February 15, 2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceThreeMember_zWvpSzXoga19" style="text-align: right" title="Number of Options Vested">50,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_981_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_zB2oomLD06ef" style="text-align: right" title="Number of Options Outstanding">100,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90D_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_z2hbYZdQxjUj" title="Exercise Price">1.25 CAD</td><td> </td> <td id="xdx_989_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_zO1V9NvYFHfc" style="text-align: right" title="Expiry Date">February 28, 2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFourMember_z2EqwXulT7C9" style="text-align: right" title="Number of Options Vested">100,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_zRWVdkpRxlD" style="text-align: right" title="Number of Options Outstanding">490,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_901_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_zh38WVrTIaHk" title="Exercise Price">1.00 CAD</td><td> </td> <td id="xdx_98D_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_ztwtOpODHvB5" style="text-align: right" title="Expiry Date">March 8, 2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceFiveMember_znMIzCjWpyfi" style="text-align: right" title="Number of Options Vested">490,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zu91g9HPayX6" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding">1,610,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"><span id="xdx_904_eifrs-full--ExercisePriceOfOutstandingShareOptions2019_iI_uCADPShares_c20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zuBkquJxLdr5" title="Exercise Price">0.70 CAD</td><td style="padding-bottom: 1pt"> </td> <td id="xdx_98C_ecustom--StockOptionsExpiryDate_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zwayQNWLZvok" style="text-align: right; padding-bottom: 1pt" title="Expiry Date">August 12, 2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231__ifrs-full--RangesOfExercisePricesForOutstandingShareOptionsAxis__custom--ExercisePriceSixMember_zOqzhQN9heyg" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Vested">1,610,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfOutstandingShareOptions_iI_pid_uShares_c20251231_zredXbz98htg" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding">2,300,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: justify; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20251231_zREPWT1D4KO3" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Vested">2,300,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

10000

9.50

June 6, 2026 10000

40000

1.50

January 2, 2027 40000

50000

1.00

February 15, 2027 50000

100000

1.25

February 28, 2027 100000

490000

1.00

March 8, 2027 490000

1610000

0.70

August 12, 2029 1610000

2300000

P2Y10M2D

P3Y9M7D

877629

118202

<p id="xdx_892_ecustom--DisclosureOfMeasurementInputsAndValidationTechniquesForWeightedAverageAssumptionsExplanatory_ziiy1KYFdm32" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair values for stock options granted during the year ended December 31, 2025, 2024, and 2023 have been estimated using the Black-Scholes option pricing model using the following weighted average assumptions: Schedule of Fair Value of Black-Scholes Option Pricing Modeling <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 95%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Risk-free interest rate</td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: center">2.92 – 3.84%</td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected life (years)</td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: center">3 – 5</td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: center"><span id="xdx_907_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20240101__20241231__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zHYajmYYuILg" title="Expected volatility">111 – 129%</td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify">Dividend yield</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">N/A</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">0%</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Forfeiture rate</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">N/A</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">0%</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">N/A</td></tr> </table>

0.0292

0.0384

P3Y P5Y

1.11

1.29

0 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">16.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Warrants</td></tr> </table> A continuity of the Company’s outstanding share purchase warrants for the year ended December 31, 2025, 2024, and 2023 is presented below: Summary of Changes in Warrants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of warrants</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average exercise price (CAD)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Outstanding, December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_ziBEdV46jJx2" style="width: 16%; text-align: right" title="Number of purchase share outstanding, Beginning of the period">4,077,508</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zouKxJtqPhv2" style="width: 16%; text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">11.65</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zPnh6eSMe4b1" style="text-align: right" title="Warrants, Issued">1,480,545</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z9E9pZzFgeg3" style="text-align: right" title="Weighted Average Exercise Price, Issued">9.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zVzGOPOCRLz5" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(2,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z4H1L8fAPOba" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">10.85</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding, December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zOfwVeArQ7O5" style="text-align: right" title="Number of purchase share outstanding, Beginning of the period">5,556,054</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zobkjdiDvTR" style="text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">11.05</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zTezxHdEFkmb" style="text-align: right" title="Warrants, Issued">6,963,840</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zbZaV981VNYi" style="text-align: right" title="Weighted Average Exercise Price, Issued">0.90</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_iN_di_uShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z1lQtAqNpd08" style="text-align: right" title="Warrants, Excercised">(6,728</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z2f3OIPPXv4a" style="text-align: right" title="Weighted Average Exercise Price, Exercised">0.45</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_ztOZO065rwW5" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(2,509,712</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zFAkqAwWHP65" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">11.25</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z0xoDzUU2tgj" style="text-align: right" title="Number of purchase share outstanding, Beginning of the period">10,003,454</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zIpbmNNivd45" style="text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">3.93</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zJ84D0ZJ3Kbf" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(3,046,340</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zqU0jedwo8sj" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">10.89</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Outstanding, December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iE_uShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zvq6mXnGVXLf" style="border-bottom: Black 1pt solid; text-align: right" title="Number of purchase share outstanding, Ending of the period">6,957,114</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_980_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iE_uCADPShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zSJis7YIEsIc" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Outstanding, Ending Balance">0.89</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_891_ecustom--DisclosureOfSharebasedPaymentArrangementsForPurchaseWarrantsOutstandingExplanatory_zT3nn8zsrclb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">At December 31, 2025, the Company had the following outstanding share purchase warrants: Schedule of Purchase Warrants Outstanding <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantOneMember_zwCu5qAabbc3" style="width: 25%; text-align: right" title="Number of warrants outstanding">2,646,475</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 25%; text-align: right"> <span id="xdx_90D_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantOneMember_zkScNRv9gkCi" title="Compensation warrants, exercise price">0.90 CAD</td><td style="width: 2%"> </td> <td style="width: 44%; text-align: right">May 28, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwoMember_zFCwotGqTshl" style="text-align: right" title="Number of warrants outstanding">104,073</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_905_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwoMember_zUZF6bV1T2f8" title="Compensation warrants, exercise price">0.45 CAD</td><td> </td> <td style="text-align: right">May 28, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_983_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantThreeMember_zfGBNJJgmlK9" style="text-align: right" title="Number of warrants outstanding">1,228,445</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_903_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantThreeMember_zuvmciGAPB6h" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">May 31, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_988_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFourMember_zwXiDKgdjrDb" style="text-align: right" title="Number of warrants outstanding">72,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_903_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFourMember_zG77P6mzoag" title="Compensation warrants, exercise price">0.45 CAD</td><td> </td> <td style="text-align: right">May 31, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_984_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFiveMember_zF1MTD1f8SJj" style="text-align: right" title="Number of warrants outstanding">306,496</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_906_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFiveMember_zImySOPffPmg" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">June 10, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSixMember_zhakM5MSyVb1" style="text-align: right" title="Number of warrants outstanding">7,819</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_90D_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSixMember_z666lbfJL163" title="Compensation warrants, exercise price">0.45 CAD</td><td> </td> <td style="text-align: right">June 10, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_983_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSevenMember_zNG7XsH8kDo9" style="text-align: right" title="Number of warrants outstanding">452,556</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_902_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSevenMember_zsAzBt7DKv85" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">June 19, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_987_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantEightMember_z0g7yBBNtbw2" style="text-align: right" title="Number of warrants outstanding">12,180</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_901_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantEightMember_zZuQcgyznMg9" title="Compensation warrants, exercise price">0.45 CAD</td><td> </td> <td style="text-align: right">June 19, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantNineMember_z3CX1FgaYuHb" style="text-align: right" title="Number of warrants outstanding">1,694,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_906_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantNineMember_zVNbJuMnKvI" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">June 28, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_981_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTenMember_z34OKOBJCEq7" style="text-align: right" title="Number of warrants outstanding">400,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_90C_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTenMember_zueSvyWpCaPl" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">July 3, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_984_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantElevenMember_zq6PEIqDlOA9" style="text-align: right" title="Number of warrants outstanding">30,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_902_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantElevenMember_zHW4JyKFe496" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">July 5, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwelveMember_zCzbpHRgo5B" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants outstanding">2,100</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> <span id="xdx_90E_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwelveMember_zLDbtWhaqJhg" title="Compensation warrants, exercise price">0.45 CAD</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt">July 5, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zjUSi7bQKy78" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants outstanding">6,957,114</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td></tr> </table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">16.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Warrants (continued)</td></tr> </table> As at December 31, 2025, the weighted average remaining contractual life of outstanding warrants is <span id="xdx_903_eifrs-full--WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_dtY_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zvrfqadz0v1b" title="Weighted average remaining contractual life of outstanding share options">0.44 years (December 31, 2024 – <span id="xdx_90A_eifrs-full--WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_dtY_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zZd4CVGBKWug" title="Weighted average remaining contractual life of outstanding share options">1.17 years). During the year ended December 31, 2024, the Company issued 5,369,573 warrants as part of units issued in private placements completed, 205,349 finder’s warrants pursuant to the private placements completed, and <span id="xdx_900_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--PrivatePlacementsMember_zLTzLH7zLNX6" title="Number of warrants, Issued">1,388,918 warrants as part of units issued to settle debt and for services rendered. <p id="xdx_89B_ecustom--DisclosureOfMeasurementInputsAndvalidationTechniquesForWarrantsExplanatory_zvrueHCvWm2j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair values for finder’s warrants granted during the year ended December 31, 2025, 2024, and 2023 have been estimated using the Black-Scholes option pricing model using the following weighted average assumptions: Schedule of Weighted Average Assumption for Warrants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Risk-free interest rate</td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: center"><span id="xdx_909_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zSg3QMg6DTJb" title="Risk-free interest rate">3.74 – <span id="xdx_90F_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zXSeuauu2x8i" title="Risk free interest rate">4.20%</td><td> </td> <td style="text-align: center"><span id="xdx_904_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zGRyHnVptCpi" title="Risk free interest rate">3.77 – <span id="xdx_906_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zvUWMqw5VS25" title="Risk free interest rate">4.43%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify">Expected life (years)</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">N/A</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">2</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">2</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: center"><span id="xdx_908_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_znJWxey4R6Xj" title="Expected volatility">92 – <span id="xdx_905_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zEZMzpmFqEM7" title="Expected volatility">93%</td><td> </td> <td style="text-align: center"><span id="xdx_90E_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zm7ExiHrRmWh" title="Expected volatility">101 – <span id="xdx_90A_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zTThp764v695" title="Expected volatility">104%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Dividend yield</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">N/A</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">0%</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">0%</td></tr> </table> The Company had previously issued warrants in connection with private placements, or debt settlements where the exercise price of such warrants was denominated in USD. As such, the warrants were classified as derivate liabilities. As at December 31, 2023, the fair value of the warrants were remeasured at $Nil as all the warrants had expired. The Company recognized a gain on the fair value change of $4,827 for the year ended December 31, 2023. A continuity of the Company’s outstanding share purchase warrants for the year ended December 31, 2025, 2024, and 2023 is presented below: Summary of Changes in Warrants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of warrants</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average exercise price (CAD)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Outstanding, December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_ziBEdV46jJx2" style="width: 16%; text-align: right" title="Number of purchase share outstanding, Beginning of the period">4,077,508</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zouKxJtqPhv2" style="width: 16%; text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">11.65</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zPnh6eSMe4b1" style="text-align: right" title="Warrants, Issued">1,480,545</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z9E9pZzFgeg3" style="text-align: right" title="Weighted Average Exercise Price, Issued">9.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zVzGOPOCRLz5" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(2,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z4H1L8fAPOba" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">10.85</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding, December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zOfwVeArQ7O5" style="text-align: right" title="Number of purchase share outstanding, Beginning of the period">5,556,054</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zobkjdiDvTR" style="text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">11.05</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--NumberOfInstrumentsOtherEquityInstrumentsGranted_uShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zTezxHdEFkmb" style="text-align: right" title="Warrants, Issued">6,963,840</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zbZaV981VNYi" style="text-align: right" title="Weighted Average Exercise Price, Issued">0.90</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_iN_di_uShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z1lQtAqNpd08" style="text-align: right" title="Warrants, Excercised">(6,728</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z2f3OIPPXv4a" style="text-align: right" title="Weighted Average Exercise Price, Exercised">0.45</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_ztOZO065rwW5" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(2,509,712</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zFAkqAwWHP65" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">11.25</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Outstanding, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iS_uShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_z0xoDzUU2tgj" style="text-align: right" title="Number of purchase share outstanding, Beginning of the period">10,003,454</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iS_uCADPShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zIpbmNNivd45" style="text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning Balance">3.93</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eifrs-full--NumberOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement_iN_di_uShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zJ84D0ZJ3Kbf" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(3,046,340</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsExpiredInSharebasedPaymentArrangement2019_uCADPShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zqU0jedwo8sj" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">10.89</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Outstanding, December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eifrs-full--NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_iE_uShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zvq6mXnGVXLf" style="border-bottom: Black 1pt solid; text-align: right" title="Number of purchase share outstanding, Ending of the period">6,957,114</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_980_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_iE_uCADPShares_c20250101__20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zSJis7YIEsIc" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Outstanding, Ending Balance">0.89</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

4077508

11.65

1480545

9.40

2000

10.85

5556054

11.05

6963840

0.90

6728

0.45

2509712

11.25

10003454

3.93

3046340

10.89

6957114

0.89

<p id="xdx_891_ecustom--DisclosureOfSharebasedPaymentArrangementsForPurchaseWarrantsOutstandingExplanatory_zT3nn8zsrclb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">At December 31, 2025, the Company had the following outstanding share purchase warrants: Schedule of Purchase Warrants Outstanding <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantOneMember_zwCu5qAabbc3" style="width: 25%; text-align: right" title="Number of warrants outstanding">2,646,475</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 25%; text-align: right"> <span id="xdx_90D_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantOneMember_zkScNRv9gkCi" title="Compensation warrants, exercise price">0.90 CAD</td><td style="width: 2%"> </td> <td style="width: 44%; text-align: right">May 28, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwoMember_zFCwotGqTshl" style="text-align: right" title="Number of warrants outstanding">104,073</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_905_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwoMember_zUZF6bV1T2f8" title="Compensation warrants, exercise price">0.45 CAD</td><td> </td> <td style="text-align: right">May 28, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_983_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantThreeMember_zfGBNJJgmlK9" style="text-align: right" title="Number of warrants outstanding">1,228,445</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_903_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantThreeMember_zuvmciGAPB6h" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">May 31, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_988_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFourMember_zwXiDKgdjrDb" style="text-align: right" title="Number of warrants outstanding">72,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_903_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFourMember_zG77P6mzoag" title="Compensation warrants, exercise price">0.45 CAD</td><td> </td> <td style="text-align: right">May 31, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_984_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFiveMember_zF1MTD1f8SJj" style="text-align: right" title="Number of warrants outstanding">306,496</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_906_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantFiveMember_zImySOPffPmg" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">June 10, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSixMember_zhakM5MSyVb1" style="text-align: right" title="Number of warrants outstanding">7,819</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_90D_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSixMember_z666lbfJL163" title="Compensation warrants, exercise price">0.45 CAD</td><td> </td> <td style="text-align: right">June 10, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_983_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSevenMember_zNG7XsH8kDo9" style="text-align: right" title="Number of warrants outstanding">452,556</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_902_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantSevenMember_zsAzBt7DKv85" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">June 19, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_987_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantEightMember_z0g7yBBNtbw2" style="text-align: right" title="Number of warrants outstanding">12,180</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_901_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantEightMember_zZuQcgyznMg9" title="Compensation warrants, exercise price">0.45 CAD</td><td> </td> <td style="text-align: right">June 19, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantNineMember_z3CX1FgaYuHb" style="text-align: right" title="Number of warrants outstanding">1,694,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_906_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantNineMember_zVNbJuMnKvI" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">June 28, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_981_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTenMember_z34OKOBJCEq7" style="text-align: right" title="Number of warrants outstanding">400,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_90C_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTenMember_zueSvyWpCaPl" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">July 3, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_984_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantElevenMember_zq6PEIqDlOA9" style="text-align: right" title="Number of warrants outstanding">30,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> <span id="xdx_902_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantElevenMember_zHW4JyKFe496" title="Compensation warrants, exercise price">0.90 CAD</td><td> </td> <td style="text-align: right">July 5, 2026</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwelveMember_zCzbpHRgo5B" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants outstanding">2,100</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> <span id="xdx_90E_ecustom--CompensationWarrantsExercisePrice_iI_uCADPShares_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantTwelveMember_zLDbtWhaqJhg" title="Compensation warrants, exercise price">0.45 CAD</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt">July 5, 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--CompensationWarrantsNumberOfWarrants_iI_c20251231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember_zjUSi7bQKy78" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants outstanding">6,957,114</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: right; padding-bottom: 1pt"> </td></tr> </table> 2646475 0.90 2026-05-28 104073 0.45 2026-05-28 1228445 0.90 2026-05-31 72450 0.45 2026-05-31 306496 0.90 2026-06-10 7819 0.45 2026-06-10 452556 0.90 2026-06-19 12180 0.45 2026-06-19 1694520 0.90 2026-06-28 400000 0.90 2026-07-03 30000 0.90 2026-07-05 2100 0.45 2026-07-05 6957114

P0Y5M8D

P1Y2M1D

5369573

205349

1388918

<p id="xdx_89B_ecustom--DisclosureOfMeasurementInputsAndvalidationTechniquesForWarrantsExplanatory_zvrueHCvWm2j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair values for finder’s warrants granted during the year ended December 31, 2025, 2024, and 2023 have been estimated using the Black-Scholes option pricing model using the following weighted average assumptions: Schedule of Weighted Average Assumption for Warrants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Risk-free interest rate</td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: center"><span id="xdx_909_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zSg3QMg6DTJb" title="Risk-free interest rate">3.74 – <span id="xdx_90F_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zXSeuauu2x8i" title="Risk free interest rate">4.20%</td><td> </td> <td style="text-align: center"><span id="xdx_904_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zGRyHnVptCpi" title="Risk free interest rate">3.77 – <span id="xdx_906_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zvUWMqw5VS25" title="Risk free interest rate">4.43%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify">Expected life (years)</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">N/A</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">2</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center">2</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected volatility</td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: center"><span id="xdx_908_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_znJWxey4R6Xj" title="Expected volatility">92 – <span id="xdx_905_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20240101__20241231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zEZMzpmFqEM7" title="Expected volatility">93%</td><td> </td> <td style="text-align: center"><span id="xdx_90E_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zm7ExiHrRmWh" title="Expected volatility">101 – <span id="xdx_90A_eifrs-full--DescriptionOfExpectedVolatilityShareOptionsGranted_pid_dp_uPure_c20230101__20231231__ifrs-full--ClassesOfShareCapitalAxis__custom--WarrantsMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zTThp764v695" title="Expected volatility">104%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Dividend yield</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">N/A</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">0%</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">0%</td></tr> </table>

0.0374

0.0420

0.0377

0.0443

P2Y P2Y

0.92

0.93

1.01

1.04

4827

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">17.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Restricted Stock Units</td></tr> </table> During the year ended December 31, 2025 and 2024, the Company granted RSUs as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On January 1, 2025, the Company granted <span id="xdx_909_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20250101__20250101__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zYt2GccKrf95" title="Number of options vested">67,200 RSU’s which vest quarterly beginning January 1, 2025.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On January 1, 2024, the Company granted <span id="xdx_90C_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20240101__20240101__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zzMleJIckG55" title="Number of options vested">87,600 RSU’s which vest quarterly beginning January 1, 2024. On December 27, 2024, <span id="xdx_90B_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20241227__20241227__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zYV7wUtVCQn5" title="Number of options vested">19,200 vested RSU’s were cancelled pursuant to a settlement agreement (Note 18).</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As at December 31, 2024, the Company accrued for <span id="xdx_906_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20241231__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z6V7vSd6h4E8" title="Number of options vested">207,700 RSU’s valued at $<span id="xdx_90E_ecustom--NumberOfShareOptionsVestedInValuebasedPaymentArrangement_c20241231__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zVT8SqrfPDci" title="Number of options vested">54,197 as an annual bonus to a member of management (Note 18).</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">During the year ended December 31, 2024, the Company granted <span id="xdx_90B_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20241231__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--TypesOfContractsAxis__custom--EmploymentAgreementMember_zQ6EX2v0x06b" title="Number of options vested">129,194 RSU’s valued at $<span id="xdx_90A_ecustom--NumberOfShareOptionsVestedInValuebasedPaymentArrangement_c20241231__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--TypesOfContractsAxis__custom--EmploymentAgreementMember_z9cfWuaNIeu9" title="Number of options vested">63,986 pursuant to certain anniversary terms of the employment agreement of a member of management.</td></tr></table> For the year ended December 31, 2025, the Company recognized $<span id="xdx_90D_eifrs-full--IncreaseDecreaseThroughSharebasedPaymentTransactions_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zUblz71wUlg8" title="Stock based compensation expenses">18,543 (2024 - $<span id="xdx_906_eifrs-full--IncreaseDecreaseThroughSharebasedPaymentTransactions_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zycw1Kr57jB5" title="Stock based compensation expenses">180,593 and 2023 - $<span id="xdx_901_eifrs-full--IncreaseDecreaseThroughSharebasedPaymentTransactions_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zBFsPTCm0Iz1" title="Stock based compensation expenses">2,279,059) in stock-based compensation expense for RSUs granted and vested. Schedule of Restricted Stock Units <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of unvested restricted stock units</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average fair value per award</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; width: 60%">Balance, December 31, 2023</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td id="xdx_986_eifrs-full--NumberOfOutstandingShareOptions_iS_pid_uShares_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zqyiOcHqpb69" style="text-align: right; width: 16%" title="Number of restricted stock units, Beginning balance">–</td><td style="text-align: left; width: 1%"> </td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td id="xdx_988_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zmW5KAPWGsQ8" style="text-align: right; width: 16%" title="Weighted average fair value per award, Beginning balance">–</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pid_uShares_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zztax9kNnjYe" style="text-align: right" title="Number of restricted stock units, Beginning balance">424,494</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zHQyNorxjNLi" style="text-align: right" title="Weighted average fair value per award, Beginning balance">0.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Canceled</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pid_di_uShares_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zpnYCmDsI418" style="text-align: right" title="Number of restricted stock units, Beginning balance">(19,200</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zSn6QTkYQPp9" style="text-align: right" title="Weighted average fair value per award, Beginning balance">0.25</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_pid_uShares_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zRenGlzlDK82" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Beginning balance">(197,594</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--WeightedAverageExercisePriceOfShareOptionsVestedInSharebasedPaymentArrangement2019_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zHMWXRkynmz6" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Beginning balance">0.40</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfOutstandingShareOptions_iS_pid_uShares_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zofNybRmuoc1" style="text-align: right" title="Number of restricted stock units, Beginning balance">207,700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zfNFgXNB4Oha" style="text-align: right" title="Weighted average fair value per award, Beginning balance">0.15</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pid_uShares_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zfPpQRknH9Hk" style="text-align: right" title="Number of restricted stock units, Beginning balance">67,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z34BBNdX5q3l" style="text-align: right" title="Weighted average fair value per award, Beginning balance">0.09</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eifrs-full--NumberOfOutstandingShareOptions_iE_pid_uShares_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zzW3uKETVAQl" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Beginning balance">274,900</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iE_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zfI7gq7hLG6i" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Beginning balance">0.14</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> As at December 31, 2025, the Company had 274,900 RSU’s (December 31, 2024 – 207,700) outstanding. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) 67200 87600 19200 207700 54197 129194 63986

18543

180593

2279059

Schedule of Restricted Stock Units <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of unvested restricted stock units</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average fair value per award</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; width: 60%">Balance, December 31, 2023</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td id="xdx_986_eifrs-full--NumberOfOutstandingShareOptions_iS_pid_uShares_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zqyiOcHqpb69" style="text-align: right; width: 16%" title="Number of restricted stock units, Beginning balance">–</td><td style="text-align: left; width: 1%"> </td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td id="xdx_988_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zmW5KAPWGsQ8" style="text-align: right; width: 16%" title="Weighted average fair value per award, Beginning balance">–</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pid_uShares_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zztax9kNnjYe" style="text-align: right" title="Number of restricted stock units, Beginning balance">424,494</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zHQyNorxjNLi" style="text-align: right" title="Weighted average fair value per award, Beginning balance">0.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Canceled</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_iN_pid_di_uShares_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zpnYCmDsI418" style="text-align: right" title="Number of restricted stock units, Beginning balance">(19,200</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eifrs-full--WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zSn6QTkYQPp9" style="text-align: right" title="Weighted average fair value per award, Beginning balance">0.25</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_pid_uShares_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zRenGlzlDK82" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Beginning balance">(197,594</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--WeightedAverageExercisePriceOfShareOptionsVestedInSharebasedPaymentArrangement2019_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zHMWXRkynmz6" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Beginning balance">0.40</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eifrs-full--NumberOfOutstandingShareOptions_iS_pid_uShares_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zofNybRmuoc1" style="text-align: right" title="Number of restricted stock units, Beginning balance">207,700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iS_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zfNFgXNB4Oha" style="text-align: right" title="Weighted average fair value per award, Beginning balance">0.15</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_pid_uShares_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zfPpQRknH9Hk" style="text-align: right" title="Number of restricted stock units, Beginning balance">67,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eifrs-full--WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_z34BBNdX5q3l" style="text-align: right" title="Weighted average fair value per award, Beginning balance">0.09</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Balance, December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eifrs-full--NumberOfOutstandingShareOptions_iE_pid_uShares_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zzW3uKETVAQl" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units, Beginning balance">274,900</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eifrs-full--WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_iE_c20250101__20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember_zfI7gq7hLG6i" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value per award, Beginning balance">0.14</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

424494

0.60

19200

0.25

-197594 0.40

207700

0.15

67200

0.09

274900

0.14

274900 207700

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">18.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Related Party Transactions</td></tr> </table> At December 31, 2025, notes receivable included $Nil (December 31, 2024 - $37,172) to related parties. At December 31, 2025, accounts payable and accrued liabilities included $1,121,180 (December 31, 2024 - $422,564) due to related parties. The amounts are unsecured, non-interest bearing and due on demand. During the year ended December 31, 2025, management fees and salaries of $430,437 (2024 - $735,661 and 2023 - $924,083), director fees of $86,400 (2024 - $118,200 and 2023 - $145,500), consulting fees of $752,808 (2024 - $609,485 and 2023 - $52,313), and stock-based compensation of $<span id="xdx_906_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_uUSD_c20250101__20251231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zHA4hrW7Ug54" title="Stock based compensation">18,543 (2024 - $<span id="xdx_901_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_uUSD_c20240101__20241231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zq32R97dYm6h" title="Stock based compensation">913,163 and 2023 - $<span id="xdx_900_eifrs-full--KeyManagementPersonnelCompensationSharebasedPayment_uUSD_c20230101__20231231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_z9sosBRPcgT7" title="Stock based compensation">1,294,051) were incurred to related parties. During the year ended December 31, 2025, the Company granted 67,200 (December 31, 2024 - 87,600) RSU’s to directors pursuant to the Company’s director compensation plan. During the year ended December 31, 2024, the company granted <span id="xdx_904_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--TypesOfContractsAxis__custom--EmploymentAgreementMember_z4qahqi9Wc81" title="Number of options vested">129,194 RSU’s pursuant to certain anniversary terms in the employment agreement of a member of management and accrued for 207,700 RSU’s valued at $54,197 as an annual bonus to a member of management. During the year ended December 31, 2024, as a result of a settlement agreement entered between the Company and a senior member of management, <span id="xdx_908_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20240101__20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--TypesOfContractsAxis__custom--SettlementAgreementMember_ziYyvb0uxSk8" title="Number of options vested">19,200 RSU’s were cancelled. During the year ended December 31, 2025, the Company issued 177,200 shares (2024 – 431,116) to directors and close family of directors for services performed. The shares issued during the year ended December 31, 2024 were also for RSUs which were granted and vested in previous periods. During the year ended, December 31, 2025, the Company issued 254,683 shares (2024 – Nil) to officers for services performed and 34,600 shares (2024 – Nil) to settle obligation to issue shares that existed in prior periods. During the year ended December 31, 2025, the Company issued <span id="xdx_908_eifrs-full--NumberOfSharesIssued_iI_dxL_c20251231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitGrantedAndVestedMember_zKoPcd8vCl79" title="Number of shares issued::XDX::-">Nil shares (2024 – <span id="xdx_90A_eifrs-full--NumberOfSharesIssued_iI_c20241231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitGrantedAndVestedMember_z1FxG2GcHP31" title="Number of shares issued">431,115) for RSU’s which were granted and vested during the year and during previous periods. During the year ended December 31, 2025, the Company transferred equipment to a related party with a book cost net of accumulated depreciation of $<span id="xdx_90E_eifrs-full--DepreciationPropertyPlantAndEquipment_c20250101__20251231__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zGqcRi0twJdi" title="Depreciation property plant and equipment">34,386 to settle accounts payable of $96,993 (2024 – Nil) and recognized a gain on settlement of $62,607 ($64,199 adjusted for hyperinflation) (2024 – Nil). During the year ended December 31, 2025, the Company issued 1,120,055 shares (2024 – 981,369) and Nil units (2024 – 815,260) with a fair value of $149,604 (2024 - $836,921) and $Nil (2024 - $327,388), respectively, to related parties of the Company to settle accounts payable of $202,197 (2024 - $800,958) and obligation to issue shares of $Nil (2024 - $146,401) and recognized a gain on settlement of $52,593 (2024 – loss of $216,951). As at December 31, 2025, loans payable included CAD$248,189 (USD$181,806) (December 31, 2024 - CAD$252,743 (USD$191,811)) due to related parties. The loans payable are unsecured, bears interest ranging from 6% - 12% per annum and have maturity dates ranging from December 31, 2024 to December 27, 2026. As at December 31, 2025, $24,000 (2024 - $6,000) in shares were owed to an officer of the Company. During the year ended December 31, 2023, the Company repurchased <span id="xdx_90A_ecustom--NumberOfShareOptionsVestedInSharebasedPaymentArrangement_uShares_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CounterpartiesAxis__custom--DirectorsMember_zWgnAGuOv4u7" title="Vested shares issued">117,374 RSU’s from directors and recognized a reduction to equity of $<span id="xdx_90D_ecustom--EquityReduction_iI_c20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CounterpartiesAxis__custom--DirectorsMember_zEhYycs7Rmi4" title="Reduction to equity">799,212 on the transaction. $<span id="xdx_90E_ecustom--RepurchasedOutstandingReceivable_c20230101__20231231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--RestrictedStockUnitsMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember__ifrs-full--CounterpartiesAxis__custom--DirectorsMember_zEQ8oiHvhGEg" title="Reduction to equity">473,331 of the RSU’s repurchased was applied against outstanding notes receivable. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars)

37172

1121180

422564

430437

735661

924083

86400

118200

145500

752808 609485 52313

18543

913163

1294051

67200

87600

129194 207700 54197 19200

177200

431116

254683

34600

431115

34386

96993

62607

64199

1120055

981369

815260

149604

836921

327388

202197 800958 146401 52593 216951

248189

181806

252743

191811

0.06

0.12

December 31, 2024 to December 27, 2026.

24000

6000

117374 799212 473331

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">19.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">General and Administrative</td></tr> </table> Schedule of General and Administrative Expense <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20251231_zOw1eE1ANHsb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240101__20241231_zh8DbJCJNTUg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231_zUuAZYr0B6M" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eifrs-full--WagesAndSalaries_maGAAEzQpm_zoxFIJYcrcGj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Salaries and compensation</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,457,882</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,942,187</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,391,346</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--RoyaltyExpense_maGAAEzQpm_zW7DF72zmEth" style="vertical-align: bottom; background-color: White"> <td>Royalties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">303,314</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">773,021</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,242,613</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--ProfessionalFeesExpense_maGAAEzQpm_zE0p9GEHz9E8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">267,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">648,528</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">820,047</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--InvestorRelationsExpense_maGAAEzQpm_ztNdGoQw3TVj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investor relations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,010</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">210,464</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236,441</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--OfficeExpense_maGAAEzQpm_z8YbTbIW0xYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Office</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132,026</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">178,592</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">230,472</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--AdvertisingExpense_maGAAEzQpm_zzPd1nwnUJ0a" style="vertical-align: bottom; background-color: White"> <td>Advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,356</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">167,671</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">123,293</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--FilingAndTransferFeesExpense_maGAAEzQpm_zXhQwDoWAguj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Filing and transfer fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,445</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">92,502</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">111,987</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--TravelExpense_maGAAEzQpm_zlFYBl9XJwIc" style="vertical-align: bottom; background-color: White"> <td>Travel</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,562</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">147,161</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,335</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--UtilitiesExpense_maGAAEzQpm_zu1ut2xFJiW" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Penalties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,763</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--BankAndSimilarCharges_maGAAEzQpm_zcCbFrrquiNk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Bank charges and other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,809</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,714</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,675</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ThirdPartyLiabilityClaim_maGAAEzQpm_zNfvDpBQr9wg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Third party liability claim</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,880,855</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--GeneralAndAdministrativeExpense_iT_pp0p0_mtGAAEzQpm_zfkgcXlKqTIi" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">General and Administrative</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5,200,466</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,182,893</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">7,294,972</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

Schedule of General and Administrative Expense <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20251231_zOw1eE1ANHsb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240101__20241231_zh8DbJCJNTUg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231_zUuAZYr0B6M" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eifrs-full--WagesAndSalaries_maGAAEzQpm_zoxFIJYcrcGj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Salaries and compensation</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,457,882</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,942,187</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,391,346</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--RoyaltyExpense_maGAAEzQpm_zW7DF72zmEth" style="vertical-align: bottom; background-color: White"> <td>Royalties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">303,314</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">773,021</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,242,613</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--ProfessionalFeesExpense_maGAAEzQpm_zE0p9GEHz9E8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">267,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">648,528</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">820,047</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--InvestorRelationsExpense_maGAAEzQpm_ztNdGoQw3TVj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investor relations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,010</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">210,464</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236,441</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--OfficeExpense_maGAAEzQpm_z8YbTbIW0xYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Office</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132,026</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">178,592</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">230,472</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--AdvertisingExpense_maGAAEzQpm_zzPd1nwnUJ0a" style="vertical-align: bottom; background-color: White"> <td>Advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,356</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">167,671</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">123,293</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--FilingAndTransferFeesExpense_maGAAEzQpm_zXhQwDoWAguj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Filing and transfer fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,445</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">92,502</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">111,987</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--TravelExpense_maGAAEzQpm_zlFYBl9XJwIc" style="vertical-align: bottom; background-color: White"> <td>Travel</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,562</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">147,161</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,335</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--UtilitiesExpense_maGAAEzQpm_zu1ut2xFJiW" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Penalties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,763</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--BankAndSimilarCharges_maGAAEzQpm_zcCbFrrquiNk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Bank charges and other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,809</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,714</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,675</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ThirdPartyLiabilityClaim_maGAAEzQpm_zNfvDpBQr9wg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Third party liability claim</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,880,855</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--GeneralAndAdministrativeExpense_iT_pp0p0_mtGAAEzQpm_zfkgcXlKqTIi" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">General and Administrative</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5,200,466</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,182,893</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">7,294,972</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

2457882

3942187

3391346

303314

773021

2242613

267207

648528

820047

10010 210464 236441 132026 178592 230472

45356

167671

123293

32445 92502 111987

52562

147161

114335

19763

18809

22714

4675

1880855

5200466

6182893

7294972

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">20.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Segmented Information</td></tr> </table> During the years ended December 31, 2025, and 2024, the Company’s operations were in the resource industry in Turkey with head offices in Canada and a satellite office in Sofia, Bulgaria. Schedule of Geographical Segment Information <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BB_ifrs-full--GeographicalAreasAxis_country--CA_zlHIuqZV41n7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_ifrs-full--GeographicalAreasAxis_country--TR_zoz04Giglpn6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B8_ifrs-full--GeographicalAreasAxis_country--BG_zM9r3Ao7r09k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BD_zwNYoeBlLLfd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43C_c20250101__20251231_eifrs-full--RevenueAbstract_iB_zvPKrMpphr2c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Year ended December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--Revenue_zYte8aNv4LX2" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,880,658</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,880,658</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--FinanceCosts_iN_pp0p0_di_msOOIEzLQG_zzAR3V8a6qUi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,472,725</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(624,086</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,096,811</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--DepletionExpense_iN_pp0p0_di_msOOIEzLQG_zwgZ8XOLG4g5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(139,550</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(139,550</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eifrs-full--DepreciationExpense_iN_pp0p0_di_maEBNzBb0_zw9Zv3WwOka6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,206</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(56,583</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(64,789</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--AccretionOfAssetRetirementObligation_iN_pp0p0_di_maEBNzBb0_zZKBjbx4Mft3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(269,386</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(269,386</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_iN_pp0p0_di_maEBNzBb0_zrFFeMVfarZb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,543</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,543</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--GainLossOnDebtSettlements_zu6wAWGgwlGd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on debt settlement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577,725</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577,725</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--GainLossOnWriteOffOfNotesAndOtherReceivables_zMM4pPTbjwT7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Loss on write-off of notes and other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(101,303</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(101,303</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--LossOnSaleAndRevaluation_zSmPCy1yVnS" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on sale and revaluation of AHFS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(328,631</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(328,631</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--GainLossOnImpairmentOfAssetsHeldForSale_z9nc3v4h9Lua" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on impairment of assets held for sale</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ImpairmentOfOgAssets_pp0p0_maEBNzBb0_zJ6PA6Gp6YJd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Impairment of O&G assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(54,498,394</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(54,498,394</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--GainsLossesOnNetMonetaryPosition_zf0yW0OSvowb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on net monetary position</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,791,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,791,869</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--ProfitLoss_pp0p0_zzEg2BDUpvQ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,627,177</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(45,592,713</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,011</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(49,220,901</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_432_c20250101__20251231_eifrs-full--NoncurrentAssetsAbstract_iB_zt10wNK5qi4e" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20251231_eifrs-full--CurrentAssets_iI_zeBrLithWmJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Current assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">445,210</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">764,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,214,975</td><td style="text-align: left"> </td></tr> <tr id="xdx_43A_c20251231_eifrs-full--NoncurrentAssets_iI_zQMLPUoZ5fNk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Non-current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,125</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,870,843</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,887,968</td><td style="text-align: left"> </td></tr> <tr id="xdx_433_c20251231_eifrs-full--CurrentLiabilities_iNI_di_z1oD8Nktcfag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(16,997,003</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(18,445,015</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(146,338</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(35,588,356</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">20.</td> <td style="font: 10pt Times New Roman, Times, Serif">Segmented Information (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_ifrs-full--GeographicalAreasAxis_country--CA_zzcIYL5PmNH4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_ifrs-full--GeographicalAreasAxis_country--TR_znP9MhT4HVFh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_ifrs-full--GeographicalAreasAxis_country--BG_zIsgiTkh7o94" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_z7PR9KihZFr8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43E_c20240101__20241231_eifrs-full--RevenueAbstract_iB_z4lQSLZZSom9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Year ended December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--Revenue_z1ogfuOOCyob" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,000,836</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,000,836</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--FinanceCosts_iN_pp0p0_di_msOOIEzLQG_zqj0r0Tddcj8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,536,892</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,756</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,560,648</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--DepletionExpense_iN_pp0p0_di_msOOIEzLQG_z9XmdUas5Me2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,300,417</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,300,417</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eifrs-full--DepreciationExpense_iN_pp0p0_di_maEBNzBb0_zs5wjwXPwM69" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,394</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(79,014</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(87,408</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--AccretionOfAssetRetirementObligation_iN_pp0p0_di_maEBNzBb0_zbDwrXYvNjQ2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(269,114</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(269,114</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_iN_pp0p0_di_maEBNzBb0_zSm10dKIk053" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,058,222</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,058,222</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ImpairmentOfOgAssets_pp0p0_maEBNzBb0_zibZaSVsixm1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Impairment of O&G assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,892,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,892,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--GainLossOnDebtSettlements_zy8jQCzWTq83" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Loss on debt extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(264,050</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(264,050</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--LossOnSaleAndRevaluation_zRwVe0VoPhaj" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on sale and revaluation of AHFS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(132,737</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(132,737</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eifrs-full--GainsLossesOnNetMonetaryPosition_zqIh77rEo0l7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Gain on net monetary position</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,431,488</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,431,488</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--ProfitLoss_pp0p0_zyyCTVuZH2V1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,480,808</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,647,834</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,128,642</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_432_c20240101__20241231_eifrs-full--NoncurrentAssetsAbstract_iB_zXso3Gs2ChId" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">As at December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43F_c20241231_eifrs-full--NoncurrentAssets_iI_zumbAlyOaJkh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Non-current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">24,277</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">52,226,749</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">52,251,026</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_ifrs-full--GeographicalAreasAxis_country--CA_zCa2Snb7OG37" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B6_ifrs-full--GeographicalAreasAxis_country--TR_zN59PR4dWI9e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_ifrs-full--GeographicalAreasAxis_country--BG_zabDTKIICqzf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_z4wIXFHUD75e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43E_c20230101__20231231_eifrs-full--RevenueAbstract_iB_zJ4q6piSYQLg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Year ended December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43B_c20230101__20231231_eifrs-full--RevenueAbstract_iB_zkSHqfmhT5E3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Year ended December 31</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eifrs-full--Revenue_zkmr7DHEbxdh" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">16,797,366</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">16,797,366</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--FinanceCosts_iN_pp0p0_di_msOOIEzLQG_zKajeHDmH3l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,202,324</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46,731</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,249,055</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--DepletionExpense_iN_pp0p0_di_msOOIEzLQG_zYDXbZmMc412" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,119,174</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,119,174</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eifrs-full--DepreciationExpense_iN_pp0p0_di_maEBNzBb0_zBBFKufIAKfc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,497</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(167,267</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(175,764</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--AccretionOfAssetRetirementObligation_iN_pp0p0_di_maEBNzBb0_zmEZ5fGDryyf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(219,536</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(219,536</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_iN_pp0p0_di_maEBNzBb0_zeBZ7wowzakk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,397,261</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,397,261</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--GainLossOnDebtSettlements_zPJw7T08vPE9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on debt extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,500</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,500</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_ecustom--GainLossOnImpairmentOfAssetsHeldForSale_zSr1ljAOYgxk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Loss on impairment of assets held for sale</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,556,787</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,556,787</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--GainsLossesOnNetMonetaryPosition_zKb33KHZIOk6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on net monetary position</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,984,099</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,984,099</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--ProfitLoss_pp0p0_zej9og9EIEwk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Net income (loss)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,900,218</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,861,094</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,718</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(43,842</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43E_c20230101__20231231_eifrs-full--NoncurrentAssetsAbstract_iB_zLhIjZ1oXlK7" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43C_c20230101__20231231_eifrs-full--NoncurrentAssetsAbstract_iB_zw1pbYOgItXh" style="display: none; vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20231231_eifrs-full--NoncurrentAssets_iI_zEusyeQ0W26d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">35,021</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">53,710,753</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">53,745,774</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_897_ecustom--DisclosureOfNetRevenueByProductSegmentExplanatory_zGSV2TItlXm1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The Company’s breakdown of net revenue by product segment is as follows: Schedule of Net Revenue By Product Segment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250101__20251231_zzLArpcT3w7l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240101__20241231_z0Ve4I2oj1o3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20231231_zCar105vBsx7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eifrs-full--RevenueFromSaleOfOilAndGasProducts_hifrs-full--ProductsAndServicesAxis__custom--OilMember_maPLBTz8ET_zOVz4Nst79u9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Oil</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">2,553,065</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,323,925</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,055,800</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--RevenueFromSaleOfOilAndGasProducts_hifrs-full--ProductsAndServicesAxis__custom--GasMember_maPLBTz8ET_zsa6uW81P0ef" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Gas</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">327,593</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,676,911</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,741,566</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--RevenueFromSaleOfOilAndGasProducts_maPLBTz8ET_z3NprdYIiVO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Oil and gas revenue, net</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,880,658</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">7,000,836</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">16,797,366</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> The Company has major customer concentration risk as all oil is sold to one customer and all gas is sold to a second customer. The Company incurs royalties of 12.5%. During the year ended December 31, 2025, the Company incurred royalties totaling $303,314 (2024 - $773,021 and 2023 - $2,242,613) which is included in general and administrative expenses on the statements of loss and comprehensive loss. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars)

During the years ended December 31, 2025, and 2024, the Company’s operations were in the resource industry in Turkey with head offices in Canada and a satellite office in Sofia, Bulgaria. Schedule of Geographical Segment Information <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BB_ifrs-full--GeographicalAreasAxis_country--CA_zlHIuqZV41n7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_ifrs-full--GeographicalAreasAxis_country--TR_zoz04Giglpn6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B8_ifrs-full--GeographicalAreasAxis_country--BG_zM9r3Ao7r09k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BD_zwNYoeBlLLfd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43C_c20250101__20251231_eifrs-full--RevenueAbstract_iB_zvPKrMpphr2c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Year ended December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--Revenue_zYte8aNv4LX2" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,880,658</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,880,658</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--FinanceCosts_iN_pp0p0_di_msOOIEzLQG_zzAR3V8a6qUi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,472,725</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(624,086</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,096,811</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--DepletionExpense_iN_pp0p0_di_msOOIEzLQG_zwgZ8XOLG4g5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(139,550</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(139,550</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eifrs-full--DepreciationExpense_iN_pp0p0_di_maEBNzBb0_zw9Zv3WwOka6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,206</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(56,583</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(64,789</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--AccretionOfAssetRetirementObligation_iN_pp0p0_di_maEBNzBb0_zZKBjbx4Mft3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(269,386</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(269,386</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_iN_pp0p0_di_maEBNzBb0_zrFFeMVfarZb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,543</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,543</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--GainLossOnDebtSettlements_zu6wAWGgwlGd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on debt settlement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577,725</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577,725</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--GainLossOnWriteOffOfNotesAndOtherReceivables_zMM4pPTbjwT7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Loss on write-off of notes and other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(101,303</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(101,303</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--LossOnSaleAndRevaluation_zSmPCy1yVnS" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on sale and revaluation of AHFS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(328,631</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(328,631</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--GainLossOnImpairmentOfAssetsHeldForSale_z9nc3v4h9Lua" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on impairment of assets held for sale</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ImpairmentOfOgAssets_pp0p0_maEBNzBb0_zJ6PA6Gp6YJd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Impairment of O&G assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(54,498,394</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(54,498,394</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--GainsLossesOnNetMonetaryPosition_zf0yW0OSvowb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on net monetary position</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,791,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,791,869</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--ProfitLoss_pp0p0_zzEg2BDUpvQ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,627,177</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(45,592,713</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,011</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(49,220,901</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_432_c20250101__20251231_eifrs-full--NoncurrentAssetsAbstract_iB_zt10wNK5qi4e" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20251231_eifrs-full--CurrentAssets_iI_zeBrLithWmJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Current assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">445,210</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">764,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,214,975</td><td style="text-align: left"> </td></tr> <tr id="xdx_43A_c20251231_eifrs-full--NoncurrentAssets_iI_zQMLPUoZ5fNk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Non-current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,125</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,870,843</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,887,968</td><td style="text-align: left"> </td></tr> <tr id="xdx_433_c20251231_eifrs-full--CurrentLiabilities_iNI_di_z1oD8Nktcfag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(16,997,003</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(18,445,015</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(146,338</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(35,588,356</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">20.</td> <td style="font: 10pt Times New Roman, Times, Serif">Segmented Information (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_ifrs-full--GeographicalAreasAxis_country--CA_zzcIYL5PmNH4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_ifrs-full--GeographicalAreasAxis_country--TR_znP9MhT4HVFh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_ifrs-full--GeographicalAreasAxis_country--BG_zIsgiTkh7o94" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_z7PR9KihZFr8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43E_c20240101__20241231_eifrs-full--RevenueAbstract_iB_z4lQSLZZSom9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Year ended December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--Revenue_z1ogfuOOCyob" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,000,836</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,000,836</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--FinanceCosts_iN_pp0p0_di_msOOIEzLQG_zqj0r0Tddcj8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,536,892</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,756</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,560,648</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--DepletionExpense_iN_pp0p0_di_msOOIEzLQG_z9XmdUas5Me2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,300,417</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,300,417</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eifrs-full--DepreciationExpense_iN_pp0p0_di_maEBNzBb0_zs5wjwXPwM69" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,394</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(79,014</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(87,408</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--AccretionOfAssetRetirementObligation_iN_pp0p0_di_maEBNzBb0_zbDwrXYvNjQ2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(269,114</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(269,114</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_iN_pp0p0_di_maEBNzBb0_zSm10dKIk053" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,058,222</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,058,222</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ImpairmentOfOgAssets_pp0p0_maEBNzBb0_zibZaSVsixm1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Impairment of O&G assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,892,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,892,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--GainLossOnDebtSettlements_zy8jQCzWTq83" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Loss on debt extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(264,050</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(264,050</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--LossOnSaleAndRevaluation_zRwVe0VoPhaj" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on sale and revaluation of AHFS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(132,737</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(132,737</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eifrs-full--GainsLossesOnNetMonetaryPosition_zqIh77rEo0l7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Gain on net monetary position</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,431,488</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,431,488</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--ProfitLoss_pp0p0_zyyCTVuZH2V1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,480,808</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,647,834</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,128,642</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_432_c20240101__20241231_eifrs-full--NoncurrentAssetsAbstract_iB_zXso3Gs2ChId" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">As at December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43F_c20241231_eifrs-full--NoncurrentAssets_iI_zumbAlyOaJkh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Non-current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">24,277</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">52,226,749</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">52,251,026</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BA_ifrs-full--GeographicalAreasAxis_country--CA_zCa2Snb7OG37" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Canada</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B6_ifrs-full--GeographicalAreasAxis_country--TR_zN59PR4dWI9e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Turkey</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_ifrs-full--GeographicalAreasAxis_country--BG_zabDTKIICqzf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Bulgaria</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_z4wIXFHUD75e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43E_c20230101__20231231_eifrs-full--RevenueAbstract_iB_zJ4q6piSYQLg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Year ended December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43B_c20230101__20231231_eifrs-full--RevenueAbstract_iB_zkSHqfmhT5E3" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Year ended December 31</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eifrs-full--Revenue_zkmr7DHEbxdh" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">16,797,366</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">16,797,366</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--FinanceCosts_iN_pp0p0_di_msOOIEzLQG_zKajeHDmH3l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,202,324</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46,731</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,249,055</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--DepletionExpense_iN_pp0p0_di_msOOIEzLQG_zYDXbZmMc412" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depletion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,119,174</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,119,174</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eifrs-full--DepreciationExpense_iN_pp0p0_di_maEBNzBb0_zBBFKufIAKfc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,497</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(167,267</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(175,764</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--AccretionOfAssetRetirementObligation_iN_pp0p0_di_maEBNzBb0_zmEZ5fGDryyf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accretion of asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(219,536</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(219,536</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_iN_pp0p0_di_maEBNzBb0_zeBZ7wowzakk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,397,261</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,397,261</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--GainLossOnDebtSettlements_zPJw7T08vPE9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loss on debt extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,500</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,500</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_ecustom--GainLossOnImpairmentOfAssetsHeldForSale_zSr1ljAOYgxk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Loss on impairment of assets held for sale</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,556,787</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,556,787</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--GainsLossesOnNetMonetaryPosition_zKb33KHZIOk6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Gain on net monetary position</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,984,099</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,984,099</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--ProfitLoss_pp0p0_zej9og9EIEwk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Net income (loss)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,900,218</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,861,094</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,718</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(43,842</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43E_c20230101__20231231_eifrs-full--NoncurrentAssetsAbstract_iB_zLhIjZ1oXlK7" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43C_c20230101__20231231_eifrs-full--NoncurrentAssetsAbstract_iB_zw1pbYOgItXh" style="display: none; vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">As at December 31</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20231231_eifrs-full--NoncurrentAssets_iI_zEusyeQ0W26d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">35,021</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">53,710,753</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">53,745,774</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

2880658

2472725

624086

3096811

139550 139550

8206

56583

64789

269386 269386

18543

577725 577725 -101303 -101303 -328631 -328631 -54498394 -54498394

12791869

-3627177

-45592713

-1011

-49220901

445210

764000

5765

1214975

17125

1870843

1887968

16997003

18445015

146338

35588356

7000836

2536892

23756

2560648

1300417 1300417

8394

79014

87408

269114 269114

1058222

-9892000 -9892000 -264050 -264050 -132737 -132737

18431488

-7480808

-1647834

-9128642

24277

52226749

52251026

16797366

2202324

46731

2249055

5119174 5119174

8497

167267

175764

219536 219536

2397261

-8500 -8500 -1556787 -1556787

18984099

-7900218

7861094

-4718

-43842

35021

53710753

53745774

<p id="xdx_897_ecustom--DisclosureOfNetRevenueByProductSegmentExplanatory_zGSV2TItlXm1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The Company’s breakdown of net revenue by product segment is as follows: Schedule of Net Revenue By Product Segment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250101__20251231_zzLArpcT3w7l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240101__20241231_z0Ve4I2oj1o3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20231231_zCar105vBsx7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eifrs-full--RevenueFromSaleOfOilAndGasProducts_hifrs-full--ProductsAndServicesAxis__custom--OilMember_maPLBTz8ET_zOVz4Nst79u9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Oil</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 16%; font-weight: bold; text-align: right">2,553,065</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,323,925</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,055,800</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--RevenueFromSaleOfOilAndGasProducts_hifrs-full--ProductsAndServicesAxis__custom--GasMember_maPLBTz8ET_zsa6uW81P0ef" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Gas</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">327,593</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,676,911</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,741,566</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--RevenueFromSaleOfOilAndGasProducts_maPLBTz8ET_z3NprdYIiVO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Oil and gas revenue, net</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,880,658</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">7,000,836</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">16,797,366</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

2553065

3323925

3055800

327593

3676911

13741566

2880658

7000836

16797366

0.125

303314

773021

2242613

<p id="xdx_808_eifrs-full--DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory_zwrXg0MeRYzf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">21.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Capital Management</td></tr> </table> The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern to support its business plan, as well as to ensure that the Company is able to meet its financial obligations as they become due. The Company considers its capital for this purpose to be its stockholders’ equity. As at December 31, 2025, the Company is in a stockholders’ deficiency position of $38,897,470 (2024 – stockholders’ equity position of $14,149,208). The basis for the Company’s capital structure is dependent on the Company’s expected business growth and changes in business environment. To maintain or adjust the capital structure, the Company may issue new shares through private placement, incur debt or return capital to members. The Company is dependent upon external financings to fund activities. In order to carry future projects and pay administrative costs, the Company will utilize its existing working capital and raise additional funds as needed. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. The Company is not subject to externally imposed capital requirements.

-38897470

14149208

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">22.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Financial Instruments and Risk Management</td></tr> </table> The Company is exposed, through its operations, to the following financial risks: <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">a)</td><td style="font: 10pt Times New Roman, Times, Serif">Market risk</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">b)</td><td style="font: 10pt Times New Roman, Times, Serif">Credit risk</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">c)</td><td style="font: 10pt Times New Roman, Times, Serif">Liquidity risk</td></tr></table> The Company is exposed to risks that arise from its use of financial instruments. This note describes the Company’s objectives, policies, and processes for managing those risks and the methods used to measure them. Further quantitative information in respect of these risks is presented throughout these consolidated financial statements. There have been no substantive changes in the Company’s exposure to financial instrument risks, its objectives, polices and processes for managing those risks or the methods used to measure them from previous reported periods unless otherwise stated in the note. The overall objective of management is to set policies that seek to reduce risk as far as possible without unduly affecting the Company’s competitiveness and flexibility. Further details regarding these policies are set out below. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">a)</td><td style="font: 10pt Times New Roman, Times, Serif">Market risk</td></tr></table> Market risk is the risk of loss that may arise from changes in market factors such as foreign currency exchange, interest rates and equity price risk. Foreign currency risk: Foreign currency risk is the risk that the fair values of future cash flows of a financial instrument will fluctuate because they are denominated in currencies that differ from the respective functional currency. The Company and its subsidiaries are exposed to currency risk as it has transactions denominated in currencies that are different from their functional currencies. The Company does not hedge its exposure to fluctuations in foreign exchange rates. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">22.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Financial Instruments and Risk Management (continued)</td></tr> </table> As at December 31, 2025 and 2024, significant foreign exchange currency exposure on its financial instruments, expressed in USD was as follows: Schedule of Foreign Exchange Currency <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231__ifrs-full--TypesOfRisksAxis__ifrs-full--CurrencyRiskMember_zjz9rsjBdsff" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240101__20241231__ifrs-full--TypesOfRisksAxis__ifrs-full--CurrencyRiskMember_z01X3mhyq9Ac" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eifrs-full--EffectOfExchangeRateChangesOnCashAndCashEquivalents_zI2xM5Yz8kW2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">396,859</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">152,087</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--EffectOfExchangeRateChangesOnAccountsReceivable_zMHwVZd3Ndj3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,558</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">63,120</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--EffectOfExchangeRateChangesOnAccountsPayable_zpTazuI2it1a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,211,836</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(12,812,027</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--EffectOfExchangeRateChangesOnLoansPayable_z9Jy67LvWI1h" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,461,250</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(4,176,234</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--EffectOfExchangeRateChangesOnLeaseLiability_z52tJeTQVQhh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(45,353</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eifrs-full--NetForeignExchangeLoss_iN_di_z9U2cyPNMmvd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(8,254,669</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(16,818,407</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> If the CAD strengthened or weakened against the USD by 10% the exchange rate fluctuation would impact net loss by $378,008, at December 31, 2025. If the Turkish Lira strengthened or weakened against the USD by 10% the exchange rate fluctuation would impact net loss by $447,459, at December 31, 2025. Interest rate risk: Interest rate risk is the risk that future cash flows will fluctuate because of changes in market interest rates. The interest earned on cash is insignificant and the Company does not rely on interest income to fund its operations. The Company is exposed to interest rate risk through the variable interest debt facility it holds through its subsidiary PPE Turkey. A sustained increase or decrease in the variable interest rate by 5% would result in an increase or decrease in net loss and comprehensive loss of approximately $58,212 per year based on the principal balance outstanding as at December 31,2025. Other price risk: Other price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. The Company does not hold equity investments in other entities and therefore is not exposed to a significant risk. <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">b)</td><td style="font: 10pt Times New Roman, Times, Serif">Credit risk</td></tr></table> Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company is subject to credit risk on its cash and cash equivalents and amounts receivable which consists primarily of trade receivables and notes and amounts receivable for equity issued. The Company limits its exposure to credit loss on cash and cash equivalents by placing its cash with high-quality financial institutions. The Company only has two customers. The Company mitigates credit risk by evaluating the creditworthiness of customers prior to conducting business with them and monitoring its exposure for credit losses with existing customers. One of the customers is the largest oil refinery in Turkey. The other customer provides letters of credit to be used by the Company in the event of default. As at December 31, 2024, all of the Company’s trade receivables are current (< 30 days outstanding). The Company’s maximum credit exposure is $1,147,456 (December 31, 2024 - $2,051,297 and December 31, 2023 - $2,848,457). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">22.</td> <td style="font: 10pt Times New Roman, Times, Serif">Financial Instruments and Risk Management (continued)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">c)</td><td style="font: 10pt Times New Roman, Times, Serif">Liquidity risk</td></tr></table> Liquidity risk arises from the Company’s general and capital financing needs. The Company continuously monitors and reviews both actual and forecasted cash flows, and also matches the maturity profile of financial assets and liabilities, when feasible. The Company anticipates increases in revenue in future periods resulting from the completion of an additional well subsequent to the period end. Historically, the Company’s sources of funding has been through equity and debt financings. The Company’s access to financing is uncertain. There can be no assurance of continued access to significant debt or equity funding. <p id="xdx_895_eifrs-full--DisclosureOfInformationAboutMaturityProfileOfDefinedBenefitObligationExplanatory_zDzrhuinC7Hf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below summarizes the maturity profile of the Company’s contractual cashflows. Summary of Maturity Profile of the Contractual Cash Flow <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_z5HpBA0I8sH4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zEZz61SGZb46" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 – 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_zp9HpTWl8jMl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_zMVHfznq41M8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0_zvOIxPAoHIc6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">18,792,482</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">18,792,482</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--Borrowings_iI_pp0p0_zaEM8t02gbae" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,972,059</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,972,059</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--DebtSecurities_iI_pp0p0_zwJguJ52jDv6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,823,815</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,823,815</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--Liabilities_iI_pp0p0_zaso1SVpEeg7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">35,588,356</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">35,588,356</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2024</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_zXW47EKvvbRk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zKUZNgQrzSri" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 – 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20241231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_zceIaclYaXLf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_zmCNLV3GsoCb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0_zEznaxi3E9Bh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,807,865</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,807,865</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--Borrowings_iI_pp0p0_zQT2UkT0xeNg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,361,978</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,361,978</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--LeaseLiabilities_iI_pp0p0_zpe7niWZ2le9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--DebtSecurities_iI_pp0p0_zTSYxnHr9Sqd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,061,497</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,061,497</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Liabilities_iI_pp0p0_zFCpdx4ii0i3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">31,256,540</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">50,400</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">31,306,940</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_zx2Xg5dEZnG7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zJqfAwILIeXa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 – 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_zxVxvHtRHdY2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_z2tjdZjma3Af" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0_zL99pz1KLc02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,065,019</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,065,019</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--Borrowings_iI_pp0p0_zeut8udW9LD2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,464,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,464,450</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--LeaseLiabilities_iI_pp0p0_zVMTLYc8i6ek" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,919</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">116,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60,921</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236,491</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RestrictedStockUnitsObligation_iI_pp0p0_zcZGVoyHEYIg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">RSU obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,398</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--DebtSecurities_iI_pp0p0_zHUkr7dJsZsk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,361,525</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,988,362</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,349,887</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Liabilities_iI_pp0p0_zcZlSIgxcGBc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">18,968,311</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,105,013</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">60,921</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">31,134,245</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars)

As at December 31, 2025 and 2024, significant foreign exchange currency exposure on its financial instruments, expressed in USD was as follows: Schedule of Foreign Exchange Currency <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231__ifrs-full--TypesOfRisksAxis__ifrs-full--CurrencyRiskMember_zjz9rsjBdsff" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240101__20241231__ifrs-full--TypesOfRisksAxis__ifrs-full--CurrencyRiskMember_z01X3mhyq9Ac" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eifrs-full--EffectOfExchangeRateChangesOnCashAndCashEquivalents_zI2xM5Yz8kW2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">396,859</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">152,087</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--EffectOfExchangeRateChangesOnAccountsReceivable_zMHwVZd3Ndj3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,558</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">63,120</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--EffectOfExchangeRateChangesOnAccountsPayable_zpTazuI2it1a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,211,836</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(12,812,027</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--EffectOfExchangeRateChangesOnLoansPayable_z9Jy67LvWI1h" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,461,250</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(4,176,234</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--EffectOfExchangeRateChangesOnLeaseLiability_z52tJeTQVQhh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(45,353</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eifrs-full--NetForeignExchangeLoss_iN_di_z9U2cyPNMmvd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(8,254,669</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(16,818,407</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table>

396859

152087

21558 63120 -5211836 -12812027 -3461250 -4176234 -45353

8254669

16818407

378008

447459

58212

1147456

2051297

2848457

<p id="xdx_895_eifrs-full--DisclosureOfInformationAboutMaturityProfileOfDefinedBenefitObligationExplanatory_zDzrhuinC7Hf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below summarizes the maturity profile of the Company’s contractual cashflows. Summary of Maturity Profile of the Contractual Cash Flow <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_z5HpBA0I8sH4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zEZz61SGZb46" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 – 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_zp9HpTWl8jMl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_zMVHfznq41M8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0_zvOIxPAoHIc6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">18,792,482</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">18,792,482</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--Borrowings_iI_pp0p0_zaEM8t02gbae" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,972,059</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,972,059</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--DebtSecurities_iI_pp0p0_zwJguJ52jDv6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,823,815</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,823,815</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--Liabilities_iI_pp0p0_zaso1SVpEeg7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">35,588,356</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">35,588,356</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2024</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_zXW47EKvvbRk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zKUZNgQrzSri" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 – 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20241231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_zceIaclYaXLf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_zmCNLV3GsoCb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0_zEznaxi3E9Bh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,807,865</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,807,865</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eifrs-full--Borrowings_iI_pp0p0_zQT2UkT0xeNg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,361,978</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,361,978</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--LeaseLiabilities_iI_pp0p0_zpe7niWZ2le9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eifrs-full--DebtSecurities_iI_pp0p0_zTSYxnHr9Sqd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,061,497</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,061,497</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Liabilities_iI_pp0p0_zFCpdx4ii0i3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">31,256,540</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">50,400</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">31,306,940</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As at December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_zx2Xg5dEZnG7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_zJqfAwILIeXa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1 – 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember__ifrs-full--MaturityAxis__custom--LaterThanTwoYearsMember_zxVxvHtRHdY2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Later than 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20231231__ifrs-full--ClassesOfLiabilitiesAxis__custom--ContractualLiablitiesMember_z2tjdZjma3Af" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eifrs-full--TradeAndOtherCurrentPayables_iI_pp0p0_zL99pz1KLc02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Accounts payable and accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,065,019</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,065,019</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--Borrowings_iI_pp0p0_zeut8udW9LD2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,464,450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,464,450</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eifrs-full--LeaseLiabilities_iI_pp0p0_zVMTLYc8i6ek" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,919</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">116,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60,921</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">236,491</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RestrictedStockUnitsObligation_iI_pp0p0_zcZGVoyHEYIg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">RSU obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,398</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--DebtSecurities_iI_pp0p0_zHUkr7dJsZsk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,361,525</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,988,362</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,349,887</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--Liabilities_iI_pp0p0_zcZlSIgxcGBc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">18,968,311</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,105,013</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">60,921</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">31,134,245</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

18792482

4972059

11823815

35588356

14807865

5361978

25200

50400

75600

11061497

31256540

50400

31306940

14065019

3464450

58919

116651

60921

236491

18398 18398

1361525

11988362

13349887

18968311

12105013

60921

31134245

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">23.</td> <td style="font: 10pt Times New Roman, Times, Serif">Income Tax</td></tr> </table> <p id="xdx_892_ecustom--DisclosureOfDetailedInformationAboutReconciliationOfCurrentIncomeTaxesExplanatory_zq9i2wvlmccg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">A reconciliation of current income taxes at statutory rates with the reported taxes is as follows: Schedule of Reconciliation of Current Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">For the years ended December 31,</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20251231_zX6QrjFhtpcd" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240101__20241231_zNtC3L0gheD9" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zhHZ9VtrePMg" style="border-bottom: Black 1pt solid; text-align: center">2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_409_eifrs-full--AccountingProfit_z7xi8SMIpLn7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 53%; text-align: justify; padding-bottom: 1pt">Net income (loss) before income taxes</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(52,713,569</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(6,681,589</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">1,816,484</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--ApplicableTaxRate_pid_dp_zrkATdRUpQZ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Effective tax rate </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td></tr> <tr id="xdx_409_ecustom--TaxEffectOfExpectedIncomeTaxRecovery_iN_di_msITECOz8Ko_zzjjE1qj77c1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected income tax recovery</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(14,232,664</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,804,029</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">490,451</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--TaxEffectFromChangeInTaxRate_maITECOz8Ko_zgoWD2NLnbr3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Change in statutory, foreign tax, foreign exchange rates, and other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,177,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(109,080</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(199,665</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_ecustom--TaxEffectFromPermanentDifferences_maITECOz8Ko_z7HTNDExSWRj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Permanent differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">999,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,628,742</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,335,113</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--TaxEffectOfAdjustmentToPriorYearsProvisionVersusStatutoryTaxReturnsAndExpiryOfNoncapitalLoses_maITECOz8Ko_z8qnnp7Qe8ql" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,462</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">381,147</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--TaxEffectOfChangeInUnrecognizedDeductibleTemporaryDifferences_maITECOz8Ko_zJfVpw13cUG9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Change in unrecognized deductible temporary differences</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,440,621</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,350,273</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,149</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eifrs-full--IncomeTaxExpenseContinuingOperations_iT_mtITECOz8Ko_zzgS9WacFcSk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,492,668</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,447,053</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,860,326</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> For the years ended December 31, 2025 and 2024, the tax effected items that give rise to significant portions of the deferred tax assets and deferred tax liabilities as at year-end are presented below: Schedule of Deferred Tax Assets and Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">As at December 31,</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231_zlEcpVWF3fr1" style="border-bottom: Black 1pt solid; text-align: right">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zCUbsMwaTsHd" style="border-bottom: Black 1pt solid; text-align: right">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231_z9ZNvJ9Wh9Cc" style="border-bottom: Black 1pt solid; text-align: right">2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DeferredTaxLiabilitiesOilAndGasProperties_iNI_di_maDTLAzcol_zaCvZhzZp3Jj" style="vertical-align: bottom; background-color: White"> <td style="width: 53%; text-align: justify">Oil and gas properties</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(10,117,185</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(9,990,074</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_401_ecustom--DeferredTaxLiabilitiesPropertyAndEquipment_iNI_di_maDTLAzcol_zg2YzrFC1Q8l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,791</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(80,212</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,011</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--DeferredTaxLiabilitiesConvertibleDebt_iNI_di_maDTLAzcol_z4Xpras6Lhxa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(76,898</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(327,305</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DeferredTaxAssetsHeldForSale_iI_msDTLAzcol_zzTgw4hmdSUj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Assets held for sale</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">388,917</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">311,357</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DeferredTaxAssetRetirementObligation_iI_msDTLAzcol_z5WlB8ft3Q7e" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,791</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,179,042</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,249,406</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DeferredTaxAssetNoncapitalLosses_iI_msDTLAzcol_zFtaS6L0mrhh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-capital losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,466,394</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,685,079</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--DeferredTaxLiabilityAsset_iNTI_di_mtDTLAzcol_zRJ7omDhbtVi" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Net deferred tax assets (liabilities)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,239,942</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,131,548</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> <p id="xdx_898_eifrs-full--DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory_zwi8JRUvgm51" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company recognizes tax benefits on losses or other deductible amounts where the probable criteria for the recognition of deferred tax assets has been met. The Company’s unrecognized deductible temporary differences and unused tax losses for which no deferred tax asset is recognized consist of the following amounts: Schedule of Deductible Temporary Differences and Unused Tax Losses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025 </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify">Share issue costs</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zN2Mh1krilff" style="width: 6%; font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">773,177</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 8%; font-weight: bold; text-align: center"><span id="xdx_90D_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20250101__20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_z83em1V9Uos5">2028</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zWUikCIn3FV" style="width: 6%; text-align: right" title="Deductible temporary differences and unused tax losses">1,899,434</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 8%; text-align: center"><span id="xdx_907_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20240101__20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zTdQNgfBH1ua">2028</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zrxBCk6hQsBd" style="width: 6%; text-align: right" title="Deductible temporary differences and unused tax losses">2,782,651</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 8%; text-align: center"><span id="xdx_903_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zDH7NQ8VqJQ7">2027</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Oil and gas properties</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98C_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--OilAndGasPropertyMember_zw91dLx3Yqq9" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">124,154</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--OilAndGasPropertyMember_zV2XiYGJxIpc" style="text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--OilAndGasPropertyMember_zliorRhlbbZ1" style="text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Property and equipment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_988_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zQTXS1zjdWdf" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">29,700</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zNOW7czDvYb4" style="text-align: right" title="Deductible temporary differences and unused tax losses">19,579</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zJLkIuYiot3h" style="text-align: right" title="Deductible temporary differences and unused tax losses">16,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Asset retirement obligation</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_zf0pHwj8GJs9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">6,363,104</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">N/A</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_z5wIsh68ncwj" style="border-bottom: Black 1pt solid; text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">N/A</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_z0txI9YemRE5" style="border-bottom: Black 1pt solid; text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Non-capital losses</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zooxRwlFO9a6" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">66,363,185</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">See below</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zWxXNO1yQu8b" style="text-align: right" title="Deductible temporary differences and unused tax losses">37,156,322</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">See below</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zZgkQHgu91o9" style="text-align: right" title="Deductible temporary differences and unused tax losses">23,300,283</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">See below</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Canada</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_ztqNYEymQZE5" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">19,097,046</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"><span id="xdx_903_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20250101__20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zYlHkQmhlCL3">2042 to 2044</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zaW9AiIWab7l" style="text-align: right" title="Deductible temporary differences and unused tax losses">14,174,648</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90B_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20240101__20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zZuRZgSSwI57">2042 to 2044</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zetLCOWBwMuj" style="text-align: right" title="Deductible temporary differences and unused tax losses">9,283,130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90A_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zl20emE5uvZ6">2042 to 2043</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">USA </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zJjI3LFKTPC2" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">17,378,146</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"><span id="xdx_904_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20250101__20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_z13L83UFhC32">indefinite</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zWW8BZer27xl" style="text-align: right" title="Deductible temporary differences and unused tax losses">12,362,896</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90C_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20240101__20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zFjFNMbUl5H3">indefinite</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zCc2qhlZRVNg" style="text-align: right" title="Deductible temporary differences and unused tax losses">4,228,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_904_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_z4JDr1iHuPn3">indefinite</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">USA</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98C_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_z1VoJrxVUGQc" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">10,615,538</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"><span id="xdx_909_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20250101__20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zQGneC6rwDjk">2028 to 2037</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zJBAkwLokPT7" style="text-align: right" title="Deductible temporary differences and unused tax losses">10,615,538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90B_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20240101__20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zN6sKGTiFWzk">2028 to 2037</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zCHgyoPXV4ja" style="text-align: right" title="Deductible temporary differences and unused tax losses">9,785,059</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_909_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_z8bQn7j6ie7a">2028 to 2037</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Turkey</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_988_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zO5gwCoxxoPh" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">19,267,743</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zXMRg2gcrlJf" style="text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zEFzR3u9syPg" style="text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Bulgaria</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98B_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zvJAHyckkk59" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">4,712</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"><span id="xdx_905_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20250101__20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zHbJqWetgnpc">2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zTuRaPk9mhsf" style="text-align: right" title="Deductible temporary differences and unused tax losses">3,240</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_909_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20240101__20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zEzY5j9Ohstc">2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zXy2llxFsH7h" style="text-align: right" title="Deductible temporary differences and unused tax losses">3,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_905_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_z1TnLzXffRMk">2028</td></tr> </table> TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars)

<p id="xdx_892_ecustom--DisclosureOfDetailedInformationAboutReconciliationOfCurrentIncomeTaxesExplanatory_zq9i2wvlmccg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">A reconciliation of current income taxes at statutory rates with the reported taxes is as follows: Schedule of Reconciliation of Current Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">For the years ended December 31,</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20251231_zX6QrjFhtpcd" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240101__20241231_zNtC3L0gheD9" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zhHZ9VtrePMg" style="border-bottom: Black 1pt solid; text-align: center">2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_409_eifrs-full--AccountingProfit_z7xi8SMIpLn7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 53%; text-align: justify; padding-bottom: 1pt">Net income (loss) before income taxes</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(52,713,569</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(6,681,589</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">1,816,484</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eifrs-full--ApplicableTaxRate_pid_dp_zrkATdRUpQZ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Effective tax rate </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left">%</td></tr> <tr id="xdx_409_ecustom--TaxEffectOfExpectedIncomeTaxRecovery_iN_di_msITECOz8Ko_zzjjE1qj77c1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected income tax recovery</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(14,232,664</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,804,029</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">490,451</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--TaxEffectFromChangeInTaxRate_maITECOz8Ko_zgoWD2NLnbr3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Change in statutory, foreign tax, foreign exchange rates, and other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,177,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(109,080</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(199,665</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_ecustom--TaxEffectFromPermanentDifferences_maITECOz8Ko_z7HTNDExSWRj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Permanent differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">999,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,628,742</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,335,113</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--TaxEffectOfAdjustmentToPriorYearsProvisionVersusStatutoryTaxReturnsAndExpiryOfNoncapitalLoses_maITECOz8Ko_z8qnnp7Qe8ql" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,462</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">381,147</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--TaxEffectOfChangeInUnrecognizedDeductibleTemporaryDifferences_maITECOz8Ko_zJfVpw13cUG9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Change in unrecognized deductible temporary differences</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,440,621</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,350,273</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,149</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eifrs-full--IncomeTaxExpenseContinuingOperations_iT_mtITECOz8Ko_zzgS9WacFcSk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,492,668</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,447,053</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,860,326</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

-52713569

-6681589

1816484

0.27

14232664 1804029 -490451

3177821

-109080

-199665

999092 2628742 1335113 122462 381147 249576 6440621 1350273 -15149

-3492668

2447053

1860326

For the years ended December 31, 2025 and 2024, the tax effected items that give rise to significant portions of the deferred tax assets and deferred tax liabilities as at year-end are presented below: Schedule of Deferred Tax Assets and Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">As at December 31,</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231_zlEcpVWF3fr1" style="border-bottom: Black 1pt solid; text-align: right">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zCUbsMwaTsHd" style="border-bottom: Black 1pt solid; text-align: right">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231_z9ZNvJ9Wh9Cc" style="border-bottom: Black 1pt solid; text-align: right">2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DeferredTaxLiabilitiesOilAndGasProperties_iNI_di_maDTLAzcol_zaCvZhzZp3Jj" style="vertical-align: bottom; background-color: White"> <td style="width: 53%; text-align: justify">Oil and gas properties</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(10,117,185</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(9,990,074</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_401_ecustom--DeferredTaxLiabilitiesPropertyAndEquipment_iNI_di_maDTLAzcol_zg2YzrFC1Q8l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,791</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(80,212</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,011</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--DeferredTaxLiabilitiesConvertibleDebt_iNI_di_maDTLAzcol_z4Xpras6Lhxa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(76,898</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(327,305</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DeferredTaxAssetsHeldForSale_iI_msDTLAzcol_zzTgw4hmdSUj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Assets held for sale</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">388,917</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">311,357</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DeferredTaxAssetRetirementObligation_iI_msDTLAzcol_z5WlB8ft3Q7e" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Asset retirement obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,791</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,179,042</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,249,406</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DeferredTaxAssetNoncapitalLosses_iI_msDTLAzcol_zFtaS6L0mrhh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-capital losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,466,394</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,685,079</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--DeferredTaxLiabilityAsset_iNTI_di_mtDTLAzcol_zRJ7omDhbtVi" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Net deferred tax assets (liabilities)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,239,942</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,131,548</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table>

10117185 9990074 9791 80212 60011 76898 327305 388917 311357 9791 1179042 1249406 4466394 6685079

4239942

2131548

<p id="xdx_898_eifrs-full--DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory_zwi8JRUvgm51" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company recognizes tax benefits on losses or other deductible amounts where the probable criteria for the recognition of deferred tax assets has been met. The Company’s unrecognized deductible temporary differences and unused tax losses for which no deferred tax asset is recognized consist of the following amounts: Schedule of Deductible Temporary Differences and Unused Tax Losses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025 </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Expiry</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify">Share issue costs</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zN2Mh1krilff" style="width: 6%; font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">773,177</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 8%; font-weight: bold; text-align: center"><span id="xdx_90D_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20250101__20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_z83em1V9Uos5">2028</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zWUikCIn3FV" style="width: 6%; text-align: right" title="Deductible temporary differences and unused tax losses">1,899,434</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 8%; text-align: center"><span id="xdx_907_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20240101__20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zTdQNgfBH1ua">2028</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zrxBCk6hQsBd" style="width: 6%; text-align: right" title="Deductible temporary differences and unused tax losses">2,782,651</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 8%; text-align: center"><span id="xdx_903_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--ShareIssueCostsMember_zDH7NQ8VqJQ7">2027</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Oil and gas properties</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98C_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--OilAndGasPropertyMember_zw91dLx3Yqq9" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">124,154</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--OilAndGasPropertyMember_zV2XiYGJxIpc" style="text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--OilAndGasPropertyMember_zliorRhlbbZ1" style="text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Property and equipment</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_988_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zQTXS1zjdWdf" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">29,700</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zNOW7czDvYb4" style="text-align: right" title="Deductible temporary differences and unused tax losses">19,579</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__ifrs-full--PropertyPlantAndEquipmentMember_zJLkIuYiot3h" style="text-align: right" title="Deductible temporary differences and unused tax losses">16,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Asset retirement obligation</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_zf0pHwj8GJs9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">6,363,104</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">N/A</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_z5wIsh68ncwj" style="border-bottom: Black 1pt solid; text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">N/A</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--AssetRetirementObligationMember_z0txI9YemRE5" style="border-bottom: Black 1pt solid; text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Non-capital losses</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zooxRwlFO9a6" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">66,363,185</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">See below</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zWxXNO1yQu8b" style="text-align: right" title="Deductible temporary differences and unused tax losses">37,156,322</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">See below</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember_zZgkQHgu91o9" style="text-align: right" title="Deductible temporary differences and unused tax losses">23,300,283</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">See below</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Canada</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_ztqNYEymQZE5" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">19,097,046</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"><span id="xdx_903_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20250101__20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zYlHkQmhlCL3">2042 to 2044</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zaW9AiIWab7l" style="text-align: right" title="Deductible temporary differences and unused tax losses">14,174,648</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90B_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20240101__20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zZuRZgSSwI57">2042 to 2044</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zetLCOWBwMuj" style="text-align: right" title="Deductible temporary differences and unused tax losses">9,283,130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90A_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--CA_zl20emE5uvZ6">2042 to 2043</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">USA </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98E_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zJjI3LFKTPC2" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">17,378,146</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"><span id="xdx_904_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20250101__20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_z13L83UFhC32">indefinite</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zWW8BZer27xl" style="text-align: right" title="Deductible temporary differences and unused tax losses">12,362,896</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90C_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20240101__20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zFjFNMbUl5H3">indefinite</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_zCc2qhlZRVNg" style="text-align: right" title="Deductible temporary differences and unused tax losses">4,228,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_904_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--US_z4JDr1iHuPn3">indefinite</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">USA</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98C_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_z1VoJrxVUGQc" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">10,615,538</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"><span id="xdx_909_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20250101__20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zQGneC6rwDjk">2028 to 2037</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zJBAkwLokPT7" style="text-align: right" title="Deductible temporary differences and unused tax losses">10,615,538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90B_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20240101__20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zN6sKGTiFWzk">2028 to 2037</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_zCHgyoPXV4ja" style="text-align: right" title="Deductible temporary differences and unused tax losses">9,785,059</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_909_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesWithoutExpirationMember__srt--StatementGeographicalAxis__country--US_z8bQn7j6ie7a">2028 to 2037</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Turkey</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_988_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zO5gwCoxxoPh" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">19,267,743</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zXMRg2gcrlJf" style="text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--TR_zEFzR3u9syPg" style="text-align: right" title="Deductible temporary differences and unused tax losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Bulgaria</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98B_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zvJAHyckkk59" style="font-weight: bold; text-align: right" title="Deductible temporary differences and unused tax losses">4,712</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"><span id="xdx_905_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20250101__20251231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zHbJqWetgnpc">2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zTuRaPk9mhsf" style="text-align: right" title="Deductible temporary differences and unused tax losses">3,240</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_909_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20240101__20241231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zEzY5j9Ohstc">2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eifrs-full--DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_iI_c20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_zXy2llxFsH7h" style="text-align: right" title="Deductible temporary differences and unused tax losses">3,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_905_eifrs-full--DescriptionOfExpiryDateOfTemporaryDifferencesUnusedTaxLossesAndUnusedTaxCredits_c20230101__20231231__ifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember__ifrs-full--ClassesOfAssetsAxis__custom--NoncapitalLossesMember__srt--StatementGeographicalAxis__country--BG_z1TnLzXffRMk">2028</td></tr> </table>

773177

2028

1899434

2028

2782651

2027

124154

29700

19579

16101

6363104

66363185

37156322

23300283

19097046

2042 to 2044

14174648

2042 to 2044

9283130

2042 to 2043

17378146

indefinite

12362896

indefinite

4228651

indefinite

10615538

2028 to 2037

10615538

2028 to 2037

9785059

2028 to 2037

19267743

4712

2028

3240

2028

3443

2028

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">24.</td><td style="text-align: justify">Commitments and Contingencies</td> </tr></table> TR1 Master Fund loans The Company has filed claims in connection with ongoing receivership proceedings against certain Traynor Ridge Capital entities (Note 9), alleging that improper and unlawful trading activities in the Company’s securities caused a significant decline in its share price and resulted in substantial financial losses, including impairment of a planned equity financing. The Company is seeking damages of up to $25 million per respondent on a joint and several basis. A threshold hearing is scheduled to determine whether the claims disclose a valid cause of action. At this stage, the outcome of the proceedings is uncertain, and no amounts have been recognized in the consolidated financial statements. The Company is seeking to offset any amounts outstanding under the TR1 Master Fund loans (Note 9) against damages claimed by the Company. Close-out Fund The Company’s subsidiary PPE Turkey, committed to contribute to the Close-Out Fund (Note 12) where it has deposited 10% of natural gas revenue from the SASB project into the Close-Out Fund until an amount agreed to by both parties is attained. PPE Turkey did not meet its commitment during 2025 and as a result its contribution to the Close-Out Fund is short by approximately $33,000. PPE Turkey was disposed of subsequent to year end (Note 25). Arbitration The Company through its’ subsidiary PPE Turkey has advanced arbitration against an offshore drilling rig contractor for $<span id="xdx_900_eifrs-full--EstimatedFinancialEffectOfContingentLiabilities_iI_pn5n6_c20251231__ifrs-full--ClassesOfContingentLiabilitiesAxis__ifrs-full--LegalProceedingsContingentLiabilityMember__ifrs-full--CounterpartiesAxis__custom--OffshoreDrillingRigContractorMember_zCFyYn4EI3Oe" title="Arbitration damages sought, value">20.3 million for gross negligent and breach of contact involving health and safety issues during the prior year drilling program resulting in loss and damages to Company (the “Trillion Losses”). Liability is not admitted, the litigation is at the inception, and thus, legal counsel has advised that it is too soon to predict the outcome or the quantum of damages that will be assessed. In accordance with guidance for contingent assets and liabilities, no provision for any potential recovery of the Trillion Losses will be made until recovery is virtually certain. If the Company’s claim is successful, the award will exceed the amount, if any, that is payable to the drilling contractor in its claim. The Company’s subsidiary PPE Turkey is defending an action brought by the same drilling contractor in Europe to which it has advanced an arbitration claim, for drilling services seeking $<span id="xdx_906_eifrs-full--EstimatedFinancialEffectOfContingentLiabilities_iI_pn6n6_c20251231__ifrs-full--ClassesOfContingentLiabilitiesAxis__ifrs-full--LegalProceedingsContingentLiabilityMember__ifrs-full--CounterpartiesAxis__custom--OffshoreDrillingRigContractorMember__srt--StatementGeographicalAxis__srt--EuropeMember_zKGwWEz7cJQ3" title="Arbitration damages sought, value">3 million. This amount has fully been recorded in accounts payable in accordance with guidance as there is significant uncertainty as to the outcome of the arbitration. PPE Turkey was disposed of subsequent to year end (Note 25). Third party liability claim As at December 31, 2024, the Company included in accounts payable and accrued liabilities a potential liability for an invoice in the amount of $144,247, issued to a 3rd party with whom the Company previously had a farm-in arrangement. The vendor is claiming that the Company is liable given the previous relationship. As at December 31, 2025, the Company included in accounts payable and accrued liabilities an additional $1,880,855 related to additional claims for invoices issued to the 3rd party. The claims and related accruals were held within PPE Turkey that was disposed of subsequent to year end (Note 25). The Company disputes the asserted claims, and the ultimate resolution of these matters remains uncertain. Dispute with former employees The Company has filed claims against, and has received counter claims from former employees of PPE Turkey which was disposed of subsequent to year end (Note 25). Management believes the claims against the Company are without merit. Accordingly, no provision has been recognized as at year end. The ultimate outcome of the proceedings cannot presently be determined. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2025 and 2024 (Expressed in U.S. dollars)

25000000

0.10

33000

20300000

3000000

144247

1880855

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">25.</td> <td style="font: 10pt Times New Roman, Times, Serif">Subsequent events</td></tr> </table> Fourth Supplemental Indenture On March 20, 2026, the Company entered into a fourth supplemental debenture indenture (the “Fourth Supplemental Indenture”) related to the Company’s unsecured convertible debentures issued on April 20, 2023, bearing interest at 12% per annum (Note 11). The total amount owing under the convertible debentures will be comprised of the principal of CAD<span id="xdx_905_eifrs-full--NotesAndDebenturesIssued_iI_pn6n6_uCAD_c20260320__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zr6fJKaDYss8" title="Secured convertible debenture">15.0 million and accrued to March 20, 2026 (the “Amount Due”). Pursuant to the Fourth Supplemental Indenture, and conditional upon the Company completing an equity financing of not less than CAD<span id="xdx_90E_ecustom--TransactionCostsAllocatedToEquity_iI_pn5n6_uCAD_c20260320__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zal12Mymqknh" title="Transaction costs allocated to equity">10.0 million on or before September 30, 2026, the following settlement terms will apply: <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(1)</td><td style="font: 10pt Times New Roman, Times, Serif">approximately CAD<span id="xdx_904_ecustom--AmountDueConvertedIntoCommonShares_pn5n6_uCAD_c20260320__20260320__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_ztpTFaAwIMp1" title="Amount Due will be converted into common shares">11.0 million of the Amount Due will be converted into common shares of the Company at the same price as the equity financing; and,</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt/107% Times New Roman, Times, Serif; width: 100%; margin-top: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(2)</td><td style="font: 10pt Times New Roman, Times, Serif">the remaining balance including accrued interest will be forgiven by the debenture holders.</td></tr></table> If the Company does not complete the required financing by September 30, 2026, the Fourth Supplemental Indenture will terminate and the full Amount Due will remain payable in accordance with the original terms of the debentures. M47 Block earn-in Subsequent to year end, the Company, through a wholly owned subsidiary, entered into an agreement to earn a <span id="xdx_901_eifrs-full--ProportionOfOwnershipInterestInSubsidiary_pid_dp_uPure_c20260101__20260514__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zLHeja9QZSeg" title="Ownership interest rate">29% working interest in the M47 block in exchange for total funding commitments of approximately $15.0 million. <span id="xdx_90D_ecustom--CapitalCommitmentsDescription_c20260101__20260514__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zesJ2fsbmfRk" title="Capital commitments description">The earn-in is subject to the Company funding certain work program costs, including approximately $9.5 million for the 2026 work program and approximately $5.5 million for the 2027 work program. As part of the agreement, the Company is expected to fund a significant portion of the costs of initial drilling and seismic programs, after which costs will be shared based on participating interests. The earn-in is contingent upon the Company meeting its funding commitments. Sale of PPE Turkey In April 2026, the Company, through a subsidiary, entered into an agreement to sell all of the issued and outstanding shares of PPE Turkey, which holds the Company’s license interests in the SASB natural gas project and the Cendere oil field. Under the terms of the agreement, the purchaser will assume the assets and liabilities associated with PPE Turkey. In connection with the transaction, the Company will retain a <span id="xdx_904_ecustom--RoyaltyOnFutureProductionRevenuesPercentage_pid_dp_uPure_c20260401__20260430__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zn8tLW22Klg3" title="Royalty on future production revenues percentage">7% gross overriding royalty on future production revenues from the underlying licenses. The royalty becomes payable once cumulative gross revenues from the licenses following closing exceed $<span id="xdx_905_eifrs-full--RevenueFromRoyalties_pn5n6_c20260401__20260430__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zqVp13nZp2ql" title="Revenue from royalties">7.5 million and may also be realized upon any future disposition of the licenses by the purchaser. Unit issuance Subsequent to year end, the Company issued 2,000,000 units for gross proceeds of CAD<span id="xdx_903_eifrs-full--ProceedsFromIssuingShares_uCAD_c20260101__20260514__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zZrmeC7ALJa9" title="Proceeds from share issuance">300,000. Each unit consists of one common share in the capital of the Company and one half of one common share purchase warrant. Each whole warrant is exercisable at CAD<span id="xdx_905_eifrs-full--WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_c20260101__20260514__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zpEXCU9dxGhk" title="Exercise price of warrants">0.25 and shall be exercisable for a period of one (1) year from the date of issue.

0.12

15000000.0

10000000.0 11000000.0

0.29

15000000.0

The earn-in is subject to the Company funding certain work program costs, including approximately $9.5 million for the 2026 work program and approximately $5.5 million for the 2027 work program. 0.07

7500000

2000000

300000

0.25

On July 1, 2023, the Company entered into agreements with TR1 Master Fund to borrow $1,065,000 and $1,597,500. The loans were issued with a $65,000 and $97,500 discount, respectively, and bear an interest rate of 1% per month. The maturity date was December 31, 2023, and the Company is claiming that the principal of TR1 Master Fund agreed to extend the loans to December 31, 2024. In the event that the loan is repaid in full prior to the maturity date, the minimum interest payments on the loans are $40,000 and $60,000, respectively. If, during the period that any amount of the loan remains outstanding, the Company issues any equity, the Lender may demand repayment of all or part of the principal amount of the loan in an amount equal to the aggregate subscription price of the equity offering. Accrued interest in excess of the minimum interest payments of $127,800 and $191,700, respectively were recorded during the year ended December 31, 2025. The Company is currently in default on these loans, however, the Company has filed claims in connection with the ongoing receivership proceedings of the lender and related entities, and is seeking to offset any amounts outstanding against damages claimed by the Company (Note 24). On July 20, 2023, the Company entered into a promissory note for CAD$300,000 (USD$228,023) with a company controlled by a related party as at December 31, 2025 and 2024. The promissory note bears an interest rate of 6% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024, as a result, the Company is currently in default on this loan. During the year ended December 31, 2025, CAD$8,000 (USD$5,536) of the principal balance was repaid and CAD$2,693 (USD$1,965) in interest was accrued. During the year ended December 31, 2024, CAD$218,509 (USD$157,016) of the principal balance was repaid and CAD$13,072 (USD$9,543) in interest was accrued. On September 1, 2023, the Company entered into a promissory note with 2476393 Alberta Ltd for CAD$546,000 (USD$402,115). The promissory note bears an interest rate of 6% per annum. The principal plus all accrued unpaid interest is to be repaid on demand but no later than December 31, 2024. During the year ended December 31, 2024, the Company entered into a debt settlement agreement to settle the CAD$546,000 (USD$397,948) principal amount. The Company issued 546,000 shares at a deemed price of $1.00 per share resulting in a CAD$109,200 (USD$81,417) loss on extinguishment of loan payable. On December 13, 2024, Park Place Turkey Limited entered into a loan with Garanti Bank in the amount of $1,120,000. The loan matures on November 13, 2025, and bears interest at 8.25% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2025, the Company made $1,035,679 in principal payments and $42,979 in interest payments. As at December 31, 2025, the loan amount had been fully repaid. During the year ended December 31, 2024, the Company made $89,857 in principal payments and $7,700 in interest payments. On December 18, 2024, Park Place Turkey Limited entered into a loan with Garanti Bank in the amount of ₺37,500,000 (or approximately USD$1,070,617). The loan matures on November 18, 2025, and bears interest at 52% per annum. Principal and accrued interest are paid monthly. During the year ended December 31, 2025, the Company made ₺35,081,997 (USD$816,877) in principal payments and ₺9,795,037 (USD$228,075) in interest payments. As at December 31, 2025, the loan amount had been fully repaid. During the year ended December 31, 2024, the Company made ₺2,418,003 (USD$68,349) in principal payments and ₺1,625,000 (USD$45,933) in interest payments.