110.5 MWp in Solar Projects

About this update from Zenith Energy Ltd.

ZENITH ENERGY LTDNovember 17, 2025ZENITH ENERGY LTD.("Zenith" or the "Company")110.5 MWp in Solar ProjectsZenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), the listed international energy production and development company, is pleased to announce the signing of a new agreement to acquire a solar energy development project located in the Puglia region of Italy (the "Puglia Acquisition") by its wholly-owned Italian subsidiary created to manage its solar energy portfolio, WESOLAR S.R.L. ("WESOLAR").Overview of the AcquisitionsThe Puglia Acquisition is located in Italy’s Puglia region and comprises approximately 12 MWp of ground-mounted PV capacity across roughly 15 hectares of flat, well-levelled land, resulting in minimal earth-moving requirements.In addition, the Company has secured sufficient land to accommodate an integrated 3 MW Battery Energy Storage System (“BESS”) to optimise energy dispatch and support the local grid.A BESS is designed to store electricity generated during low-price periods and discharge it during higher-priced fasce orarie (time-of-use tariff periods), thereby maximising revenue. In Italy, electricity prices fluctuate throughout the day—with peak hours (fasce orarie di punta) commanding materially higher prices—allowing strategic storage and release to enhance project returns.The Puglia Acquisition is currently classified as being in the ‘Development’ stage.Puglia is among Italy’s most favourable regions for solar power generation, benefiting from high solar irradiation levels that support superior economic performance for photovoltaic projects.The Puglia Acquisition strengthens the Company’s presence in the region and complements its existing development pipeline in Piedmont and Lazio. Together, these three clusters form a strategically significant solar development portfolio across some of Italy’s most attractive and highly sought-after renewable-energy generation areas.Italy continues to rank among the global leaders in photovoltaic technology, deployment, and installed capacity.The Company expects the project to reach Ready-to-Build status within 12–16 months.The total consideration for the Puglia Acquisition is EUR 1,050,000, including the associated land. Payment will be made upon securing all required permits and achieving Ready-to-Build status at the conclusion of the development process....

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