On March 24, 2026, Trio Petroleum Corp, a Delaware corporation, entered into a Settlement Agreement with McDermott Will & Schulte LLP. The agreement resolves the company's obligation to pay $392,700.23 in legal fees incurred by McDermott. In exchange for these fees, Trio Petroleum will issue 446,149 restricted shares of its common stock to McDermott. The shares will be registered on a resale registration statement, which Trio Petroleum is obligated to file within 20 calendar days after the issuance of the shares. The agreement includes mutual releases of claims between the parties, effectively discharging each from any liabilities related to the legal services provided. This settlement is expected to have a small positive effect on the stock price as it resolves outstanding legal obligations and provides clarity on the company's financial commitments.

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