Payment of Outstanding Notes of 2024 Bond - Update

18 Sep 2024 11:00 CEST

September 18, 2024

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Payment of Outstanding Notes of 2024 Bond - Update

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; OTCQB: ZENAF), the international energy
production and development company, is pleased to provide an update following
the regulatory news announcement dated August 20, 2024, regarding the payment of
Outstanding Notes of 2024 Bond, in relation to the successful conclusion of
the last Bond Exchange Offer announced on April 22, 2024 (the "Bond Exchange"),
preceded by the first Bond Exchange Offer announced on January 25, 2024, both
attracting significant support and investor participation (collectively, the
"Exchanges").

By way of background, the Exchanges were directed to Noteholders (the
"Noteholders") of the following unsecured debt instruments that matured on
January 27, 2024 (the "Outstanding Notes"):

· Euro 10.125% Notes due on 27 January 2024 (XS2108546735)
· USD 10.300% Notes due on 27 January 2024 (XS2108546651)
· GBP 10.375% Notes due on 27 January 2024 (XS2108546578)

Payment in cash to Noteholders who did not participate in the Exchanges

Those Noteholders who did not participate in the Exchanges will receive
settlement of the Outstanding Notes and accrued interest by way of cash (the
"Remaining Outstanding Notes").

The Company gives notice that the Remaining Outstanding Notes will be paid as
follows:
· October 31, 2024, in the amount of 20% (twenty percent) of the Remaining
Outstanding Notes,
· December 28, 2024, in the amount of 20% (twenty percent) of the Remaining
Outstanding Notes, and
· February 28, 2025, payment of the balance of the Remaining Outstanding Notes
and all the accrued interest, until this date.

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 the Venture
Market of the OTCQB (OTCQB: ZENAF).
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
LinkedIn: https://bit.ly/3A5PRJb

More information:
Access the news on Oslo Bors NewsWeb site

628017_RNS Payment Update 18.09.2024.pdf