Acquisition of Solar Energy Project in Piedmont

About this update from Zenith Energy Ltd.

February 2, 2026ZENITH ENERGY LTD.("Zenith" or the "Company")Acquisition of Solar Energy Project in PiedmontZenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; XSAT:ZENASDR), the listed international energy production and development company, ispleased to announce the acquisition of an agrivoltaic project at developmentstage located in the Piedmont region of Italy (the "Acquisition"), through itswholly-owned Italian subsidiary, responsible for managing its solar energyportfolio, WESOLAR S.R.L. ("WESOLAR").Overview of the Acquisitiono The Acquisition comprises a photovoltaic solar energy production projectlocated in the Piedmont region, with an expected installed capacity ofapproximately 10 MWp.o The Acquisition is classified as being in the development stage.o Piedmont, and particularly the Province of Alessandria, where the new plantwill be developed, is one of the most industrialised areas in Italy. Thischaracteristic makes the sale of electricity from renewable sourcesparticularlyprofitable, due to strong local energy demand. Demand to acquire this type ofproject remains consistently high.o This additional acquisition in Piedmont enables Zenith to furtherconsolidateits significant presence in the region, where approximately 60 MWp of projectsare already under development, while at the same time complementing theCompany's existing pipeline in Piedmont, Puglia and Lazio.o Italy stands out as one of the world's leading countries in the developmentand implementation of photovoltaic technology.o The Company expects the project to reach Ready-to-Build status within thenext12-15 months.o The consideration for the acquisition of the land for the new projectamountsto EUR 768,215.00, conditional upon the achievement of all necessary permitstoreach Ready-to-Build status.Advanced negotiations are currently underway for the acquisition of twoadditional projects.Strategy OverviewIn the solar energy industry, a "pipeline" refers to the aggregate portfolioofdevelopment projects being actively advanced toward construction day afterday.Zenith's pipeline is composed of projects progressing daily through design,permitting, and grid-connection milestones, moving step by step towardReady-to-Build ("RtB") status. This expanding portfolio carries tangiblemarketvalue, which typically increases as projects mature and de-risk throughsuccessive development stages...

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