Grant of Stock Options
Zenith Energy Ltd. has granted a total of 29,031,131 stock options to Directors and employees under its Stock Option Plan. These options have an exercise price of NOK 0.44 (approximately £0.034 or 0.42 SEK), are fully vested, and will expire in five years. The Chief Executive Officer, Andrea Cattaneo, received 16,838,056 options, Chief Financial Officer Luca Benedetto received 2,903,113 options, and Non-Executive Director Sergey Borovskiy Alexandrovich received 1,451,557 options, with the remaining options distributed among other employees.
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Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), the listed international energy production and development company, announces that it has granted a total of 29,031,131 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 0.44 per Option (approximately equivalent to £0.034 or 0.42 SEK), are fully vested and have a duration of five years from the date of issue.
| a) | Name | Andrea Cattaneo | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Executive Officer & President | |
| b) | Initial notification/Amendment | Initial Notification | |
| a) | Name | Zenith Energy Ltd. | |
| b) | LEI | 213800AYTYOYD61S4569 | |
| 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 | G rant of Stock Options in accordance with Stock Option Plan | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| NOK 0.44 | 16,838,056 | ||
| d) | Date of the transaction(s) | February 27, 2026 | |
| 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 | |
| a) | Name | Zenith Energy Ltd. | |
| b) | LEI | 213800AYTYOYD61S4569 | |
| 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 0.44 | 2,903,113 | ||
| d) | Date of the transaction(s) | February 27 , 2026 | |
| 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 | |
| a) | Name | Zenith Energy Ltd. | |
| b) | LEI | 213800AYTYOYD61S4569 | |
| 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 0.44 | 1,451,557 | ||
| d) | Date of the transaction(s) | February 27 , 2026 | |
| e) | Place of the transaction | Off Market |
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