ZENA: Acquisition of 11 MWp PV development projects in Lombardy

September 28, 2026

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of 11 MWp PV development projects in Lombardy

Zenith (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), the international energy
production and development company, is pleased to announce the acquisition of
two further ground-mounted photovoltaic development projects in Stradella, in
the Province of Pavia, in the Lombardy region of Italy, with a combined
indicative installed capacity of approximately 11 MWp ("Stradella 2" and
"Stradella 3", together the "Projects").

The Acquisition follows the acquisition of the approximately 9 MWp Stradella 1
project, announced on September 17, 2026, and brings Zenith's portfolio in the
Province of Pavia to approximately 20 MWp across three projects, all located in
the Stradella area.

The Acquisition increases Zenith's total solar development pipeline to
approximately 223 MWp, taking another step towards the Company's target of 240
MWp by the end of 2026.

Overview of the Projects

o	Stradella 2 has a planned installed capacity of approximately 5 MWp and
Stradella 3 of approximately 6 MWp, in each case subject to confirmation
following completion of the final plant layout.

o	Both Projects are located on sites suitable for ground-mounted solar PV,
covering a combined area of approximately 12 hectares, within 300 metres of the
motorway and of existing industrial facilities and areas.

o	The Projects sit close to industrial and logistics areas with substantial
electricity demand. This proximity to major consumption centres is expected to
support the saleability of the electricity generated and the resilience of its
market value over time.

o	Given the characteristics of the sites and their territorial context, the
permitting phase is expected to progress efficiently and within a reasonably
short timeframe, subject to completion of the ordinary administrative approval
processes.

o	The Acquisition is classified as being in the development stage.

o	The total land purchase comprises approximately 12 hectares at a cost of EUR
90,000 per hectare, corresponding to a total land cost of approximately EUR
1,080,000. The consideration becomes payable only following formal acceptance of
the STMG.

Solar Development Strategy

Lombardy is Italy's most industrialised region and accounts for the largest
share of national electricity consumption. Within a week of its first
acquisition in the region, Zenith has established a cluster of three projects
totalling approximately 20 MWp in the Province of Pavia, providing strong
fundamentals for the long-term commercialisation of the electricity to be
produced.

Andrea Cattaneo, Chief Executive Officer, commented:

"Shortly after announcing Stradella 1, we have added two further projects in the
same area, taking our portfolio in the Province of Pavia to approximately 20
MWp. These sites sit within a few hundred metres of industrial and logistics
hubs with substantial, ongoing electricity demand. Proximity to that demand is
precisely what underpins the long-term value of the power we will generate.

With our pipeline now at approximately 223 MWp, we are firmly on course to hit
our 240 MWp target by the end of 2026. Our priority is converting that scale
into value. Discussions with buyers on asset monetisation are advancing, and we
expect them to deliver significant revenue towards the end of this year or the
beginning of 2027."

Further Information:

Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer
Tel: +1 (587) 315 1279
E: 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 on the
Spotlight Stock Market in Sweden (XSAT: ZENA SDR).

Zenith's strategic focus is on pursuing development opportunities through the
development of proven revenue generating energy production assets, as well as
low-risk exploration activities in assets with existing production.
For more information, please visit: www.zenithenergy.ca
Twitter: @zenithenergyltd

Market Abuse Regulation (MAR) Disclosure

The information included in this announcement is defined as inside information
pursuant to MAR article 7 and is publicly disclosed in accordance with MAR
article 17 and section 5-12 of the Norwegian Securities Trading Act. The
announcement is made by the contact person.
n accordance with MAR\
article 17 and section 5-12 of the Norwegian Securities Trading Act. The\
announcement is made by the contact person.\