Based on Art. 8 of the Covid 19 Act and Art. 27 of the Covid 19 Ordinance 3, the Board of Directors has decided to hold the extraordinary Shareholders' Meeting without the personal participation of shareholders. Voting and questions or requests to speak will be made exclusively via the independent proxy.

The agenda items include 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.

Chief Executive Officer, Peter Krempin commented:
"The developments to be approved in the EGM assist the Company in moving forward. Our new office is better set up for future growth and approval of the new auditors will allow us to proceed with the audits for 2020 and 2021. Once these audits have been 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 exciting 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.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.