Payment of 2024 Bond Outstanding Notes

07 May 2025 12:00 CEST

May 7, 2025

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Payment of 2024 Bond Outstanding Notes

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 provide an update, following the regulatory news announcement dated
September 18, 2024, regarding payment of the Outstanding Notes of the 2024 Bond.
This follows the successful conclusion of the final 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").

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)

As previously confirmed, 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 can confirm that it has paid the Remaining Outstanding Notes in the
amount of 20% (twenty percent).
As per the regulatory news announcement dated September 18, 2024, further
payments had been scheduled on or before December 28, 2024, and on February 28,
2025, in full and final settlement of the Remaining Outstanding Notes and
accrued interest.

Delays ascribable to intermediary platforms have resulted in the need to revise
the previously announced timeline because the Company has still not received
full confirmation that the first payment in the amount of 20% has been delivered
to Noteholders by the intermediary platforms.

Having consulted with the relevant advisers, the Company gives notice that the
Remaining Outstanding Notes, and accrued interest will be paid as follows:

· June 30, 2025, in the amount of an additional 20% (twenty percent) of the
Remaining Outstanding Notes,
· September 30, 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 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

More information:
Access the news on Oslo Bors NewsWeb site

645548_07.05.2025 Norway.pdf