Electricity Tariff Update

Key Financial Targets until end of reform in 2025 Ratios Real net financial debt ratio to normalized EBITDA Total debt to total assets ratio (leverage) International rating Real net financial debt Liquidity (safety cushion) 2023 Targets till 2025 4.3 Mid-target of 5.4 in 2023 65% At least 'BBB' Maximum NIS 36.5 billion 2025 - Maximum NIS 31 billion Subject to meet the financial targets listed above regarding debt ratios Minimum NIS 3 billion Composed of balance of cash and short-term deposits will be no less than NIS 1 billion and unused secured credit lines valid for a period exceeding one year up to NIS 2 billion (On October 12, the Company's BOD authorized to use an amount of NIS 1 billion from the Safety Cushion in order to maintain the Company's functional continuity and for fuel purchase) חברת החשמל Israel Electric Actual as of 09/30/2023 5.9 66% +BBB NIS 37.9 billion The Company complies with the objective Source: IEC's Financial Statements for 9M.2023 Note: The financial targets approved by the Board of Directors On December 13-15, 2022 until the end of the reform period by the year 2025. Mid-targets for 2023 have been updated, among other things, due to the publication of a new tariff base for the generation segment and due to the annual update for 2023, which includes the deployment of consumer debt to the company for the impact of coal prices over three years and the decrease in the return rate in the generation segment Investor Relations 11

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