January 26, 2026

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Appointment of Andrea Pinna to Zenith's ICSID Legal Team

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), the listed international energy production and development company, is delighted to announce the appointment of Andrea Pinna, Partner at Pinna Goldberg, to further broaden and complement the legal team of its claimant subsidiaries in the arbitration proceedings brought before the International Centre for Settlement of Investment Disputes ("ICSID") under the UK-Tunisia Bilateral Investment Treaty, against the Republic of Tunisia, led by Professor Thomas Clay (Clay Arbitration) alongside Maître Simon Le Wita (Charles Russell Speechlys Paris), and by Ben Juratowitch KC and Matthieu Gregoire (Essex Court Chambers).

Andrea Pinna

Andrea Pinna is a Partner at Pinna Goldberg, based in Paris, London, Washington and Dubai. Mr. Pinna's practice primarily focuses on international commercial and investment arbitration. He has participated as counsel in more than fifty arbitration proceedings spanning a range of sectors, including disputes arising out of M&A transactions, joint-venture agreements, oil and gas.

Mr. Pinna has experience representing Sovereign States in international arbitration proceedings and before domestic courts, including matters involving sovereign immunities. He also appears frequently before French courts in arbitration-related disputes, including set-aside applications and the enforcement of arbitral awards. Mr. Pinna's practice further concentrates on international litigation and the management and coordination of multijurisdictional parallel proceedings, often connected to arbitration. Mr. Pinna is admitted to the Paris Bar and speaks Italian, French and English fluently, with working knowledge of Spanish.

Pinna Goldberg Law firm

Pinna Goldberg is an international disputes boutique advising sovereign states, companies, and individuals in resolving disputes through litigation, arbitration, and mediation. The firm advises on complex cross-border disputes and has experience representing states and investors in investment treaty matters, including under the ICSID and UNCITRAL frameworks. Its lawyers also advise on multi-jurisdictional litigation strategy, enforcement and parallel proceedings, expertise directly relevant to the ICSID arbitration brought by the Company's UK subsidiaries under the UK-Tunisia Bilateral Investment Treaty.

Andrea Cattaneo, Chief Executive Officer, commented:

"The legal team, led by Professor Thomas Clay and comprised of Maître Simon Le Wita of Charles Russell Speechlys Paris, alongside Ben Juratowitch KC and Matthieu Gregoire of Essex Court Chambers, is already exceptionally strong and has thoroughly and robustly presented the merits of the position in progressing the ICSID arbitration brought by the Company's UK subsidiaries under the UK-Tunisia Bilateral Investment Treaty.

The Company is very pleased to further complement and broaden the skillset and expertise of this team with the addition of Andrea Pinna. Mr. Pinna brings significant experience in investor-state and international commercial arbitration, including acting in numerous proceedings across the energy sector, and substantial experience representing sovereign states and addressing issues of sovereign immunity.

We look forward to the final hearings in April 2026 with well-grounded optimism and a sincere belief in redress and compensation for the prolonged damages suffered by the Company's UK subsidiary claimants, which have been significantly impaired as a result of arbitrary and unlawful conduct that has resulted in the sequestration and expropriatory termination of their activities and assets. All members of the legal team share a clear and unshakable assessment of the strength of the position, supported by the extensive preparation undertaken to date.

The Company remains firmly focused on securing redress for the significant damage its UK subsidiary claimants have suffered in Tunisia, and which, as recent events demonstrate, the UK subsidiary claimants continue to suffer because of arbitrary and unlawful conduct by the authorities in the Republic of Tunisia. The next months will have a transformational impact on the company, and every action will be taken to defend the rights of the Company's UK subsidiary claimants and vindicate the merits of their position."

Further Information:

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

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