Zenith Energy

Major Shareholding Notification • Apr 21, 2021

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

1. 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