Zenith Energy

Regulatory Filings • Aug 22, 2025

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Update on Solar Project in Piedmont, Italy

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed interna7onal energy produc7on and development company, is pleased to provide an update regarding its acquisi7on of a 7 MWp agrivoltaic solar energy project located in the region of Piedmont, Italy (the "Piedmont Acquisi<on").

Key Highlights

• As announced on May 30, 2025, the Company's fully owned subsidiary, WESOLAR S.R.L., signed an agreement to acquire approximately 13.5 hectares of agricultural land for a considera7on of EUR 900,000 (the "Considera<on").
• Payment of the Considera7on and comple7on of the Piedmont Acquisi7on is condi7onal upon the achievement of all the necessary approvals and permits in order for construc7on and commissioning of the solar energy produc7on infrastructure to take place.
• The Piedmont Acquisi7on was originally designed as an agrivoltaic plant with an installed capacity of 7 MWp. Agrivoltaic technology integrates agricultural ac7vi7es with solar energy produc7on, op7mising land use and suppor7ng sustainable agricultural prac7ces. However, agrivoltaic plants require propor7onally more land for the same capacity of installed MWp.
• Recent regulatory changes in Italy, brought about by the sentence of the Council of State number 6160/2025, have enabled the Piedmont Acquisi7on to be reclassified.
• The Piedmont Acquisi7on has now been projected as a 10MWp solar energy development project, replacing its previous classifica7on as a 7 MWp agrivoltaic development project.
• The reclassifica7on is expected to materially improve the Piedmont Acquisi7on's economics, shortening the comple7on 7meline and simplifying its technical profile, increasing poten7al electricity produc7on and associated revenue genera7on.

Andrea CaBaneo, Chief Execu<ve Officer, commented:

"The reclassifica7on of the Piedmont Acquisi7on to 10 MWp significantly strengthens its economics and long-term value, enhancing our solar energy project pipeline.

One of the key determinants for success in the Italian solar energy domain is an operator's ability to successfully obtain the necessary permi^ng (at all levels) in a comprehensive and 7mely manner.

We look forward to providing further updates in due course regarding poten7al addi7onal acquisi7ons, as well as the formalisa7on of financing agreements to support the construc7on of the por_olio."

Further Informa<on:

Zenith Energy Ltd
Andrea Ca`aneo, Chief Execu7ve Officer	Tel: +1 (587) 315 1279
	E: info@zenithenergy.ca

Notes to Editors:

Zenith Energy Ltd. is a revenue generating, independent energy company with energy production, exploration and development assets in North Africa, the US and Europe. 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 development opportunities through the development of proven revenue generating energy production assets, as well as low-risk exploration activities in assets with existing production.

For more information, please visit: www.zenithenergy.ca Twitter: @zenithenergyltd LinkedIn: https://bit.ly/3A5PRJb

Market Abuse Regulation (MAR) Disclosure

The information included in this announcement is defined as inside information pursuant to MAR article 7 and is publicly disclosed in accordance with MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. The announcement is made by the contact person.