Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 71

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 71
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 per share remains the same, after deducting the estimated placement agent fees and estimated offering expenses
payable by us.

The pro forma as adjusted information
is illustrative only, and we will adjust this information based on the actual public offering price and other terms of this offering
determined at pricing.

The following table summarizes, as of
October 31, 2024, on a pro forma as adjusted basis described above, the differences between the number of shares of common stock and/or
Pre-Funded Warrants (assuming that only Shares are purchased in this offering) that are purchased from us, the total consideration paid
to us in cash and the average price per share that existing stockholders and new investors paid for such shares. The calculation below
is based on an assumed public offering price of $1.36 per share, which was the reported closing price of our common stock on the
NYSE American on February 24, 2025, before deducting the estimated placement agent fees and estimated offering expenses payable
by us.

|                       |     | Shares Purchased(1) 
 Number              |            |     | Percent |      |   |     | Total Consideration 
 Amount              |            |     | Percent |      |   |     | Average Price 
 Per Share     |      |
|:----------------------|:----|:--------------------|-----------:|:----|:--------|-----:|:--|:----|:--------------------|-----------:|:----|:--------|-----:|:--|:----|:--------------|-----:|
| Existing stockholders |     |                     |  6,956,694 |     |         | 54.2 | % |     | $                   | 30,643,339 |     |         | 79.3 | % |     | $             | 4.40 |
| New investors         |     |                     |  5,882,353 |     |         | 45.8 | % |     |                     |  8,000,000 |     |         | 20.7 | % |     |               | 1.36 |
| Total                 |     |                     | 12,839,047 |     |         |  100 | % |     | $                   | 38,643,339 |     |         |  100 | % |     | $             | 3.01 |

| (1) | Assumes                        
 no sale of Pre-Funded