REG - Zenith Energy Ltd - Appointment of Charles Michel and Julie Spinelli

Zenith EnergyAnnouncement

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RNS Number : 7237Z  Zenith Energy Ltd  09 April 2026

April 9, 2026

 

ZENITH ENERGY LTD.

 

("Zenith" or the "Company")

Appointment of Charles Michel, former President of the European Council &
Appointment of Julie Spinelli

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR) is delighted to
announce the appointment of Mr. Charles Michel, the former President of the
European Council (2019-2024) and former Prime Minister of Belgium (2014-2019),
to further strengthen the legal team of its claimant subsidiaries in the
arbitration proceedings brought before the International Centre for Settlement
of Investment Disputes ("ICSID") against the Republic of Tunisia.

 

The Company is also delighted to confirm the appointment of Ms. Julie
Spinelli, a leading French counsel and arbitrator specialised in ad hoc and
institutional (ICC, LCIA, ICSID, SCC, CMAP and UNCITRAL) arbitration
proceedings, for States, state-owned entities as well as multinational
companies in complex disputes, including within the energy sector.

 

The final hearing in the ICSID arbitration proceedings, brought under the
UK-Tunisia Bilateral Investment Treaty against the Republic of Tunisia, is
scheduled to commence on April 20, 2026.

The legal team is led by Professor Thomas Clay (Clay Arbitration), supported
by Maître Simon Le Wita (Charles Russell Speechlys Paris), Ben Juratowitch KC
and Matthieu Gregoire (Essex Court Chambers), together with Charles Michel and
Julie Spinelli (16 Law).

 

 

Charles Michel Biography

Charles Michel is a qualified lawyer by training, having studied law at
the Université Libre de Bruxelles and the University of Amsterdam. He
began his professional career as a lawyer, developing a foundation in legal
analysis, public law, and institutional frameworks.

He subsequently held senior public offices, including serving as Prime
Minister of Belgium (2014-2019) and as President of the European
Council (2019-2024). In these roles, he operated within complex legal and
regulatory environments, including EU treaty law, international agreements,
and multilateral decision-making processes.

During his tenure as President of the European Council, he was involved in the
European Union's external engagement with Tunisia, including high-level
discussions with Tunisian authorities as part of broader EU-Tunisia
cooperation frameworks. This experience provides relevant contextual
understanding of the legal, institutional, and geopolitical environment
underpinning the Company's arbitration proceedings.

 

Julie Spinelli Biography

 

Julie Spinelli is a qualified avocat in France and a specialist in
international arbitration, with a focus on investor-State and complex
commercial disputes. She has acted as both counsel and arbitrator under
leading institutional frameworks, including the International Chamber of
Commerce (ICC), London Court of International Arbitration (LCIA), and
the International Centre for Settlement of Investment Disputes (ICSID), as
well as SCC, CMAP, and UNCITRAL rules.

Her practice covers public international law, investment treaty arbitration,
and cross-border disputes, frequently involving States and state-owned
entities. She has advised on matters including jurisdiction, treaty
interpretation, quantum, and enforcement, particularly in regulated sectors
such as energy and infrastructure.

Ms. Spinelli has worked within leading international arbitration practices and
is recognised for her experience in handling complex, high-value proceedings.

Update on Legal Team Composition

Further to the Company's announcement of January 26, 2026, regarding the
appointment of Andrea Pinna, Zenith confirms that Mr. Pinna is no longer part
of the legal team representing its claimant subsidiaries in the arbitration
proceedings before the International Centre for Settlement of Investment
Disputes.

The Company thanks Mr. Pinna for his contributions and wishes him well in his
future endeavours.

Andrea Cattaneo, Chief Executive Officer of Zenith, commented:

"The Company is delighted to welcome Charles Michel and Julie Spinelli to
its legal team, representing a significant strengthening of the expertise
supporting our claimant subsidiaries in the arbitration proceedings before
the International Centre for Settlement of Investment Disputes.

Mr. Charles Michel is one of Europe's most senior political figures, having
served as President of the European Council, and brings extensive experience
in international affairs, including direct engagement with Tunisia at the
highest level. Ms. Spinelli is a highly regarded arbitration practitioner,
particularly recognised for her strength in written advocacy and pleadings in
complex investor-State disputes.

These appointments further enhance an already distinguished legal team at an
important stage in the proceedings, with the final arbitral hearing currently
scheduled for the end of April 2026.

The Company will make every effort to maximise the potential for significant
compensation and redress for the substantial losses suffered by its claimant
subsidiaries in respect of their producing assets, the impact of which is
further underscored by the current high oil price environment."

 

Further Information:

  Zenith Energy Ltd                          Tel: +1 (587) 315 1279

 Andrea Cattaneo, Chief Executive Officer   E: info@zenithenergy.ca (mailto: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 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

LinkedIn: https://bit.ly/3A5PRJb (https://bit.ly/3A5PRJb)

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of
this announcement via a Regulatory Information Service ("RIS"), this inside
information is now considered to be in the public domain.

 

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