Key Investment Highlights

Progress in implementation of the electricity sector reform and structural change Selling generation sites ■ Reading site חברת החשמל Israel Electric On September 13, 2023, the Minister of Energy and Infrastructures approved the recommendation of the team established to examine alternatives for the Reading site (led by the general manager of the Ministry of Energy and Infrastructure), which states that the sale of the site should be promoted as soon as possible for the purpose of establishing temporary generation units through the private sector during the interim period. As well, the team recommended to renovate the existing units in Reading by the company up to a total investment of NIS 50-100 million. Until July 2024, the alternative of the temporary units will be examined regularly, and as soon as there is sufficient certainty for the statutory promotion of this alternative, the renovation of the units will be stopped. The team also recommended a transmission alternative for Reading and the establishment of distributed generation in the Tel-Aviv metropolitan (Gush Dan). ■ Eshkol site The Electricity Authority extended the generation licenses of Eshkol site until June 3, 2024. On October 31, 2023, one offer was submitted by Eshkol Power Energies Ltd as part of an new competitive procedure between the bidders who submitted offers in the original tender for the purchase of Eshkol site. On November 9, 2023, the IEC's BOD approved the announcement of the Tenders Committee of the company on the winning of Eshkol Power Energies Ltd amounts to a total of appx. NIS 9 billion. Source: IEC's Financial Statements for 9M.2023 Investor Relations 14

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