£4.8 MILLION DIVIDEND PAYMENT – 4.5% YIELD

NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR TO ANY US PERSON, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN SPAIN) OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.

ZEGONA COMMUNICATIONS PLC ("Zegona")

LEI: 213800ASI1VZL2ED4S65

 21 December 2020

ZEGONA ANNOUNCES £4.8 million DIVIDEND PAYMENT - 4.5% Yield

On 15 December 2020 Euskaltel shareholders approved a €0.14 per share dividend to be paid in February 2021. Zegona has committed to pass 100% of all Euskaltel dividends straight through to its shareholders so Zegona's Board of Directors has yesterday declared an interim dividend of 2.2 pence per share, equivalent to £4,817,342. In total, 4.8 pence per share, equivalent to £10,523,356, will have been paid to shareholders in the 12 months ending March 2021, equating to a dividend yield of 4.51%

The expected timetable for the dividend is2:

Enquiries

Tavistock (Public Relations adviser - UK)

Tel: +44 (0)20 7920 3150

Jos Simson - jos.simson@tavistock.co.uk

Lulu Bridges - lulu.bridges@tavistock.co.uk

IMPORTANT NOTICES

This announcement has been prepared in accordance with English law, the Listing Rules and the Disclosure Guidance and Transparency Rules and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England.

The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

1 Based on the closing price of Zegona's shares on 18 December 2020 of 106.5 pence per share

2 The payment of the dividend to eligible holders of shares is expected to be effected through CREST or by BACS/cheque (in the case of shares held in certificated form)