All Resolutions for the Annual General Meeting Passed with over 93% Support

Steinhausen, Switzerland - EQS Newswire - 26 July 2023 - Terraoil Swiss AG ("Company"), an energy company with a strong focus on the Mediterranean is pleased to announce that the Annual General Meeting for fiscal year 2022 was held as scheduled on July 13, 2023 at Theater Casino, Zug, Switzerland.

Shareholders were provided with an update on the current activities of the Company followed by the formal meeting for the fiscal year 2022. Details of the Company's operational and financial developments were shared with all attending.

All of the business matters before the shareholders were passed by over 93% of the votes cast at the meeting. The shareholders' resolutions can be accessed at https://terraoil.swiss/publications.

Chief Executive Officer, Peter Krempin commented:

"Once again we had tremendous support from our shareholders for the team's efforts in driving the Company towards success. Details of our important commercial developments and the restructuring that is taking place with a view toward a future listing of the Group's shares were provided to those in attendance and there was a deep sense of excitement surrounding the Group's future. Once again, I thank all stakeholders for their patience and support toward making the Group a success story."

If you are an Terraoil shareholder and would like additional information, contact Peter Krempin either via email investors@terraoil.swiss or by telephone at +41 71 544 01 20.

The issuer is solely responsible for the content of this announcement.

About Terraoil Swiss AG

Terraoil is an international energy company with a focus to identify and advance business opportunities in the upstream oil and gas and renewable energy sectors in the Mediterranean region.

https://terraoil.swiss

Terraoil forward-looking statements

This media release serves informational purposes and constitutes neither an offer to sell nor a solicitation or an advertisement to buy any shares of Terraoil Swiss AG in any jurisdiction. This media release does not constitute a prospectus within the meaning of Article 35 et seqq. of the Swiss Federal Act on Financial Services. In addition, investors should seek advice from their bank or their financial adviser. This media release and the information contained therein are not being issued for the purpose of selling shares in the United States of America, Australia, Canada, Japan, the United Kingdom, or the European Economic Area and must not be distributed within or to such countries or via publications with a general circulation in such countries.

This media release contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements are subject to certain risks and uncertainties which may cause actual results, performance, or events to differ materially from those anticipated in this media release. Readers should therefore not rely on these forward-looking statements. The forward-looking statements contained in this media release are based on the views and assumptions of Terraoil Swiss AG as of this date and Terraoil Swiss AG does not assume any obligation to update or revise this media release.

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