Operations Update and New 2026 Unit Program

August 12, 2026

Dear Zion Supporters and Shareholders,

We are happy to report that horizontal drilling is fully underway and has been proceeding efficiently. The casing and sidetrack work required to reach this stage was completed expeditiously and in accordance with Ministry standards, clearing the way for the horizontal leg of the well.

We are thankful for the steady work of our team in Israel. We look forward to sharing more as we move through this phase and into the next.

We continually give thanks to God and to our loyal shareholders and supporters who make this work possible. Your continued prayers and support mean a great deal to all of us at Zion.

We're also announcing that Zion is offering a Unit Program from August 12 through September 10, 2026.

Each $250 Unit includes:

• $250 worth of Zion common stock at the high-low average market price on the Unit Purchase Date; and
• 75 ZNWBD warrants

Each warrant gives the holder the option to purchase one additional share of Zion common stock at 75¢. The exercise period is October 12, 2026 through April 12, 2027.

To participate or learn more, visit our Invest Now page.

Sincerely,
Rob Dunn
Chief Executive Officer
Zion Oil & Gas, Inc.