Zenith Energy

Capital/Financing Update • Jul 27, 2022

Payment of multi-currency bond coupon

Payment of multi-currency bond coupon

July 27, 2022

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Payment of multi-currency bond coupon

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the energy company with proven revenue generating production, exploration and development assets in Africa and Europe, is pleased to announce that it has today made coupon payments, in full and on time, in respect of the following multi-currency Euro Medium Term Notes the Company has listed on the Vienna MTF of the Vienna Stock Exchange:

· ZEEX 10.000 01/27/24 MTN XS2108546818 CHF

· ZEEX 10.125 01/27/24 MTN XS2108546735 EUR

· ZEEX 10.300 01/27/24 MTN XS2108546651 USD

· ZEEX 10.375 01/27/24 MTN XS2108546578 GBP

Luca Benedetto, Chief Financial Officer, commented:

“Non-dilutive funding is an important area of focus for Zenith that we wish to develop further as we increase in size and the current oil, gas and electricity pricing climate attracts renewed investment in the energy industry.

“We are very pleased to have progressively become an established debt issuer, benefiting from two independent credit ratings and a now consistent record of financial compliance towards our fixed income investors.”

Further Information:

Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer

Tel: +1 (587) 315 9031

E: info@zenithenergy.ca

BlytheRay - Financial PR/IR

Tim Blythe, Alice McLaren, Madeleine Gordon-Foxwell Tel: +44 207 138 3204

E: zenith@blytheray.com

Alternative Resource Capital - Broker

Alex Wood

Keith Dowsing

Tel: +44 (0) 207 186 9004

Tel: + 44 (0) 207 186 9005

Notes to Editors:

Zenith Energy Ltd. is a revenue generating, independent energy company with production, exploration and development assets in Tunisia, Italy, and the Republic of the Congo, including electricity generation in Italy. The Company is listed on the London Stock Exchange Main Market (LSE: ZEN) and the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA).

Zenith's strategic focus is on pursuing transformational opportunities in Africa and Europe through the development of proven revenue generating oil, gas and electricity production assets, as well as low-risk exploration activities in assets with existing production.