Achievement of 98.5 MWp in Solar Development Projects

About this update from Zenith Energy Ltd.

ZENITH ENERGY LTDOctober 19, 2025ZENITH ENERGY LTD.("Zenith" or the "Company")Achievement of 98.5 MWp in Solar Development 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 that is fully owned Italian solar energy subsidiary, WESOLAR S.R.L. ("WESOLAR"), has signed two separate agreements to acquire two solar energy development projects with a combined capacity of 22 MWp (collectively, the “Acquisitions”).Overview of the AcquisitionsPiedmont AcquisitionAn agrivoltaic Development Project with a capacity of 18.0 MWp, located on flat terrain, which is expected to reduce construction costs. Agrivoltaic technology integrates agricultural activities with solar energy production, optimising land use and supporting sustainable agricultural practices.The project is located near other Zenith properties in Piedmont, reinforcing the Company’s ‘cluster’ strategy.The total consideration is EUR 2,100,000, including the purchase of the land upon which the Piedmont Acquisition will be constructed.Payment of the consideration is staged and conditional upon achieving permitting and grid-connection milestones required to reach Ready-to-Build status.The Company expects the Piedmont Acquisition to achieve 'Ready-to-Build' status within 24 months.Puglia AcquisitionPhotovoltaic Solar Development Project with an installed capacity of 4.0 MWp.Total consideration: EUR 440,00, staged and conditional upon achieving permitting and grid-connection milestones required to reach Ready-to-Build statusThe Company expects the Puglia Acquisition to achieve 'Ready-to-Build' status within 8 months.The Puglia Acquisition also involves the acquisition of the land necessary to host the Company’s second planned battery energy storage system (“BESS”) with a capacity of up to approx. 2 MW.A BESS is designed to store electricity generated during low-price periodsand resell it during higher-priced (time-of-use tariff periods),thereby maximising the profitability of energy production. In Italy, electricityprices vary across the day, with peak hours commanding significantly higher prices, allowing the system to optimize returns through strategic energy storage and release.The Puglia Acquisition is located near other Zenith properties in Puglia, reinforcing the Company’s ‘c...

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