Terms and conditions of the share purchase agreement and share option agreements concluded with UniCredit Bank AG on 11 November 2019

Zenith Pure Oil and Gas Public Limited Company (“Zenith Pure Oil”) hereby informs the capital market participants in relation to the announcement as of 11 November 2019 as follows:

Under the Share Purchase Agreement concluded among UniCredit Bank AG (“UniCredit”) and Zenith Pure Oil on 11 November 2019 the number of Zenith Pure Oil shares sold is 484,582; and under the share option agreements concluded among Zenith Pure Oil and UniCredit on 11 November 2019 Zenith Pure Oil receives American call options and UniCredit receives European put options regarding 27,574,340 pieces of Zenith Pure Oil shares on 18 November 2019.

The strike price of both the call and put options is EUR 9.06640 per one share.

As a result of the transactions the number of treasury shares decreases by 484,582 pieces of shares. After the settlement which takes place on 18 November 2019 Zenith Pure Oil will own directly and indirectly 60,112,164 “A” Series and 578 “C” Series Zenith Pure Oil Ordinary shares.