Zenith Energy

Major Shareholding Notification • Apr 21, 2021

TR-1 Notification

TR-1 Notification

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

CA98936C1068

Issuer Name

Zenith Energy Ltd

UK or Non-UK Issuer

Non-UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

Nordnet AB (publ)

City of registered office (if applicable)

STOCKHOLM

Country of registered office (if applicable)

Sweden

4. Details of the shareholder

Is the shareholder the same as the person subject to the notification obligation, above?

No

Name City of registered office Country of registered office

Nordnet Pensionsförsäkring AB Stockholm Sweden

Nordnet Livsforsikring AS Oslo Norway

5. Date on which the threshold was crossed or reached

15-Apr-2021

6. Date on which Issuer notified

16-Apr-2021

7. Total positions of person(s) subject to the notification obligation

. % of voting rights attached to shares (total of 8.A) % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) Total of both in % (8.A + 8.B) Total number of voting rights held in issuer

Resulting situation on the date on which threshold was crossed or reached 4.660000 0.000000 4.660000 54196155

Position of previous notification (if applicable) 5.040000 0.000000 5.040000

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

Class/Type of shares ISIN code(if possible) Number of direct voting rights (DTR5.1) Number of indirect voting rights (DTR5.2.1) % of direct voting rights (DTR5.1) % of indirect voting rights (DTR5.2.1)

CA98936C1068 54196155 4.660000

Sub Total 8.A 54196155 4.660000%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument Expiration date Exercise/conversion period Number of voting rights that may be acquired if the instrument is exercised/converted % of voting rights

Sub Total 8.B1

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument Expiration date Exercise/conversion period Physical or cash settlement Number of voting rights % of voting rights

Sub Total 8.B2

9. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

Ultimate controlling person Name of controlled undertaking % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher than the notifiable threshold Total of both if it equals or is higher than the notifiable threshold

Nordnet AB (publ) Nordnet Livsforsikring AS 4.550000 4.550000

Nordnet AB (publ) Nordnet Pensionsförsäkring AB 0.110000 0.110000

10. In case of proxy voting

Is there proxy voting?

No

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

Nordnet Pensionsförsäkring AB and Nordnet Livsforsikring AS are wholly owned subsidiaries of Nordnet AB (publ).

12. Date of Completion

16-Apr-2021

13. Place Of Completion

Stockholm