Zenith Energy

Capital/Financing Update • Jan 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	Tel: +1 (587) 315 9031
Andrea Cattaneo, Chief Executive Officer
	E: info@zenithenergy.ca
Allenby Capital Limited - Financial Adviser	Tel: + 44 (0) 203 328 5656
& Broker
Nick Harriss
Nick Athanas
Celicourt Communications (Financial PR)	Tel: +44 (0) 208 434 2643
Mark Antelme	E: zenithenergy@celicourt.uk
Jimmy Lea

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.