Zenith Energy

Capital/Financing Update • Jan 28, 2022

Payment of multi-currency bond coupon

Payment of multi-currency bond coupon

January 28, 2022

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Payment of multi-currency bond coupon

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announce that it has recently made coupon payments, in full and on time, in respect of the following multi-currency Euro Medium Term Notes the Company has issued 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

Further Information:

Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer Tel: +1 (587) 315 9031

E: info@zenithenergy.ca

Allenby Capital Limited - Financial Adviser & Broker

Nick Harriss

Nick Athanas Tel: + 44 (0) 203 328 5656

Celicourt Communications (Financial PR)

Mark Antelme

Jimmy Lea Tel: +44 (0) 208 434 2643

E: zenithenergy@celicourt.uk

Notes to Editors:

Zenith Energy Ltd. is an international oil and gas production company, listed on the London Stock Exchange (LSE:ZEN) and the Euronext Growth Market of the Oslo Stock Exchange (OSE:ZENA).

Zenith's development strategy is to identify and rapidly complete value-accretive hydrocarbon production opportunities in the oil & gas sector, specifically in Africa.