Trio Petroleum Corp Completes Transformational $19 Million Raise Under ATM Program

Malibu, CA, March 18, 2026 -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), an oil and gas company, announced that as of March 18, 2026, the Company had raised $19,017,527 in gross proceeds under its ATM program, resulting in net cash proceeds to Trio of $18,446,993, after payment of commissions.

Commented Robin Ross, Chief Executive Officer, "This first quarter has been transformational for Trio as we successfully raised nearly $19 million through our ATM program. Management believes this capital provides a significant opportunity to accelerate our expansion plans in both Canada and the U.S., with a focus on acquiring larger, higher-impact oil and gas projects in the 500 to 1,000 barrels per day range, as well as advancing workover opportunities across our existing assets. While we expect oil prices to remain volatile, we continue to see an upward bias supported by global energy demand. Taken together, we believe that these factors place Trio on a strong trajectory for meaningful production and cash-flow growth.”

ATM Offering

On January 9, 2026, the Company filed a prospectus supplement with the SEC covering the sale of shares of common stock having an aggregate offering price of up to $3,600,000 (the “Placement Shares”), in connection with the ATM Offering. Subsequent to the period ended January 31, 2026, we filed several amendments to the prospectus supplement related to the ATM Offering to increase the dollar amount of Placement Shares that may be offered pursuant to the ATM Offering. The Company has sold, to date, 19,202,455 shares of common stock for aggregate gross proceeds of $19,017,527.

Trio Petroleum Corp is an oil and gas exploration and development company with operations in California, Saskatchewan, Alberta, and Utah. The Company is focused on acquiring and developing high-quality producing assets that offer near-term cash flow and long-term growth potential.