Acquisition of Solar Energy Project

About this update from Zenith Energy Ltd.

September 16, 2025 ZENITH ENERGY LTD.("Zenith" or the "Company")Acquisition of Solar Energy ProjectZenith 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 Highlightso 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 64.5Andrea Cattaneo, Chief Executive Officer of Zenith Energy, commented:"The addition o...

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