Terraoil Announces Results of Shareholders’ Meeting

Shareholders Show Strong Support for Resolutions of Extraordinary General Meeting

STEINHAUSEN, SWITZERLAND - EQS Newswire - 22 July 2022 - Terraoil Swiss AG, an energy company with a strong focus on the Mediterranean is pleased to announce that the extraordinary Shareholders' Meeting was held as scheduled on July 21, 2022 in the Company's offices in Steinhausen, Switzerland. The agenda items included the approval of a&o kreston audit ag as the company's auditor for 2020 and 2021 and the relocation of the company's registered address to Steinhausen, Zug, Switzerland. Both agenda items were approved by over 99% of the votes cast. Chief Executive Officer, Peter Krempin commented: "We are pleased that an overwhelming majority of the shareholders of Terraoil continue to support the company and we are positioned to complete the audits and advance our business plan. The audits will commence immediately and when they are completed, we will be able to hold the Annual General Meetings for 2020 and 2021 and provide shareholders with an in-person update on the many developments of Terraoil." 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. Hashtag: #TerraoilSwissAG

About Terraoil Swiss AG

Terraoil is an international energy company with a focus to identify and rapidly advance business opportunities in the upstream oil and gas and renewable energy sectors in the Mediterranean region. https://terraoil.swissTerraoil forward-looking statementsThis 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.