Grant of Stock Options

20 Feb 2025 20:10 CET

February 20, 2025

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Grant of Stock Options

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; OTC PINK:
ZENAF), the listed international energy production and development company, is
pleased to announce that it has granted a total of 27,183,142 stock options (the
"Options") to certain Directors and employees of the Company in accordance with
the Company's Stock Option Plan.

The Options have an exercise price of NOK 1.26 per Option (approximately
equivalent to £0.09), are fully vested and have a duration of five years from
the date of issue.

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 Pink
Markets of the OTC (OTC PINK: 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



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.


NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM



1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name Andrea Cattaneo
2 Reason for the notification
a) Position/status Chief Executive Officer & President
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Zenith Energy Ltd.
b) LEI 213800AYTYOYD61S4569
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument
Options for common shares of no par value in Zenith Energy Ltd.

Identification code CA98936C8584
b) Nature of the transaction Grant of Stock Options in accordance with Stock
Option Plan
c) Price(s) and volumes(s) Price(s) Volume(s)
NOK 1.26 13,047,909

d) Date of the transaction(s) February 20, 2025
e) Place of the transaction Off Market




1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name Luca Benedetto
2 Reason for the notification
a) Position/status Chief Financial Officer and Executive Director
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Zenith Energy Ltd.
b) LEI 213800AYTYOYD61S4569
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument
Options for common shares of no par value in Zenith Energy Ltd.

Identification code CA98936C8584
b) Nature of the transaction Grant of Stock Options in accordance with Stock
Option Plan
c) Price(s) and volumes(s) Price(s) Volume(s)
NOK 1.26 3,941,555

d) Date of the transaction(s) February 20, 2025
e) Place of the transaction Off Market




1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name Dario Sodero
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Zenith Energy Ltd.
b) LEI 213800AYTYOYD61S4569
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument
Options for common shares of no par value in Zenith Energy Ltd.

Identification code CA98936C8584
b) Nature of the transaction Grant of Stock Options in accordance with Stock
Option Plan
c) Price(s) and volumes(s) Price(s) Volume(s)
NOK 1.26 1,902,820

d) Date of the transaction(s) February 20, 2025
e) Place of the transaction Off Market



1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name
Sergey Borovskiy Alexandrovich

2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Zenith Energy Ltd.
b) LEI 213800AYTYOYD61S4569
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument
Options for common shares of no par value in Zenith Energy Ltd.

Identification code CA98936C8584
b) Nature of the transaction Grant of Stock Options in accordance with Stock
Option Plan
c) Price(s) and volumes(s) Price(s) Volume(s)
NOK 1.26 1,902,820

d) Date of the transaction(s) February 20, 2025
e) Place of the transaction Off Market




1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name José Ramón López Portillo
2 Reason for the notification
a) Position/status Non-Executive Director, Chairman
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Zenith Energy Ltd.
b) LEI 213800AYTYOYD61S4569
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument
Options for common shares of no par value in Zenith Energy Ltd.

Identification code CA98936C8584
b) Nature of the transaction Grant of Stock Options in accordance with Stock
Option Plan
c) Price(s) and volumes(s) Price(s) Volume(s)
NOK 1.26 1,902,820

d) Date of the transaction(s) February 20, 2025
e) Place of the transaction Off Market

More information:
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