September 16, 2025 ZENITH ENERGY LTD.
("Zenith" or the "Company")
Acquisition of Solar Energy Project
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), thelistedinternational energy production and development company, is pleased toannouncethe signing of an agreement to acquire a solar energy development projectlocated in the Puglia region of Italy (the "Puglia Acquisition") by itswholly-owned Italian subsidiary created to manage its solar energy portfolio,WESOLAR S.R.L. ("WESOLAR").
Key Highlights
o The Puglia Acquisition will have a total installed capacity ofapproximately 6MWp. o The Puglia Acquisition is categorised as being at 'Development' stage. o Puglia is one of Italy's most favourable regions for solar energy,havinghigher solar irradiation hours compared to other regions. This results in asuperior economic yield for solar energy plants. o The Puglia Acquisition enables Zenith to consolidate its presence inPuglia,while at the same time complementing its established pipeline in Piedmont andLazio. Together, these acquisitions provide the Company with significantdevelopment portfolios in Puglia, Lazio and Piedmont, three of Italy's mostattractive and strategically important regions for solar energy.o The consideration for the Puglia Acquisition is EUR 750,000, whichincludesthe purchase of the land hosting the Puglia Acquisition, and will beconditionalto the achievement of all the necessary permits for it to achieve'Ready-to-Build' categorisation.
Zenith Energy Solar Portfolio (as of September 16, 2025)Project / Stage Capacity (MWp) Status NotesLiguria Solar Asset 0.5 Production Upgrade Currently producing 0.2MWp,upgrade to 0.5 MWp planned.Puglia Solar Asset 3.0 Ready-to-Build All permits obtained, gridconnectionready, announced on July 30, 2025.Piedmont Photovoltaic Project 10.0 Development Originally anagrivoltaicsproject, but then reclassified to photovoltaic as announced on August 22,2025.Lazio Agrivoltaic Projects 15.0 Development First Lazio acquisition(10 MWp)announced Aug 6, 2025. Second acquisition (5 MWp) announced on August 27,2025.Piedmont Agrivoltaic Development Projects 30.0 Development Multi-siteacquisition announced on August 11, 2025.Puglia Solar Development Asset 6.0 Development Acquisition signed onSeptember16, 2025.Total Portfolio 64.5
Andrea Cattaneo, Chief Executive Officer of Zenith Energy, commented:
"The addition of a second solar energy project in Puglia increases ourregionaldevelopment capacity to 9 MWp and marks a further step in strengtheningZenith'sItalian solar portfolio.
Together with our development pipeline in Piedmont and Lazio, the PugliaAcquisition establishes three development clusters in the most attractiveregions of Italy for solar energy production. This cluster approach isexpectedto drive operating efficiencies, improve development and constructioneconomics,and enhance long-term portfolio value.We remain focused on a disciplined, step-by-step strategy to build adiversified, scalable and cash-generative solar portfolio.
We will continue to grow assets under management as opportunities arise tobuildan operation with substantial realisable value that delivers sustainable valuefor shareholders." Further Information:Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer Tel: +1 (587) 315 1279E: 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, the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA) and has received conditional approval for listing on the Spotlight Stock Market in Sweden.
Zenith's strategic focus is on pursuing development opportunities through thedevelopment of proven revenue generating energy production assets, as well aslow-risk exploration activities in assets with existing production.For more information, please visit: www.zenithenergy.ca
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Market Abuse Regulation (MAR) Disclosure
The information included in this announcement is defined as inside informationpursuant to MAR article 7 and is publicly disclosed in accordance with MARarticle 17 and section 5 -12 of the Norwegian Securities Trading Act. Theannouncement is made by the contact person.
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