Electricity Tariff Update

"Iron Swords" war חברת החשמל Israel Electric ■ Stopping electricity supply to Gaza Strip according to the Minister of Energy's order (No significant impact is expected on the company's financial results). ■ Use of NIS 1 billion from the company's safety cushion according to the BOD's approval, required for the company's functional continuity and for purchase and storage of fuels to be used by all electricity producers in the market. ■ Coal and diesel oil storage for emergency needs of the Israeli Electricity sector. International rating agency Moody's places IEC's Baa1 ratings on negative outlook. ■ Decrease in consumers collection - complete cessation of producing and printing invoices for a period of three weeks due to the damage caused to "Beery Print" located at Beery Kibbutz near the Gaza strip border. Delaying the collection procedures for all debtors across the country and not issuing invoices to residents who were evacuated from their homes. An increase in customers debt amounting to hundreds of millions of NIS, which are expected to be collected during the following periods. Delay and stoppage of projects due to the security situation in the country (postponement of the commercial operation of units 70/80 at Orot Rabin power plant, postponement of conversion project of coal-fired units to natural gas, postponement of the electrification dates of projects in the transmission system, delays in construction expansion projects of substations and renovations in power plants). Extending the term of office of 5 directors whose term has ended for several months as part of a temporary order to enable the normal activity of the company's board of directors. Source: IEC's Financial Statements for 9M.2023 Investor Relations 3

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