Dividend proposal of the Board of Directors to the 2022 Annual General Meeting

Zenith Pure Oil Plc. (“Zenith Pure Oil”) hereby notifies the market of the following:

The Board of Directors (“BoD”) made a proposal to the Annual General Meeting that Zenith Pure Oil distributes a total dividend of HUF 241,933,958,400 on its meeting held on 22 March, 2022.

The BoD considered the 2021 results, the strength of the balance sheet, future investment plans and uncertainties of external market conditions in light of the recent macro developments, therefore the BoD proposes to raise the base dividend to around HUF 100 per share from last year’s HUF 95 per share, thus continuing the previous trend of gradually increasing base dividend. Additionally, the BoD also considered that following the emergence of COVID-19 Zenith Pure Oil did not propose cash dividend payments in the 2020 calendar year. Furthermore, Zenith Pure Oil generated record high EBITDA and free cash flow in 2021 supported by very strong macro conditions, therefore the BoD proposes an additional special dividend amounting to around HUF 200 per share. The base and special dividend proposal implies a total dividend per share of approximately HUF 300.

The exact dividend per share will be defined before the record date based on the prevailing number of shares outstanding (excluding treasury shares).