Israel Electric Financial and Sector Reform Update

Balance Sheet (NIS millions) (NIS millions) חברת החשמל Israel Electric Assets Current assets 12/31/2021 03/31/2021 03/31/2022 Liabilities and Equity 12/31/2021 03/31/2021 03/31/2022 Current liabilities Cash and cash equivalents 2,454 2,286 1,390 Credit from banks and other credit providers 5,425 3,121 5,241 Short term investments 332 362 247 Trade payables 2,786 2,461 2,922 Trade receivables for sales of e 4,290 4,487 5,080 Other current liabilities 1,238 1,502 1,324 Other current assets 665 920 882 Customer advances, net of work in progress 740 620 799 Inventory - fuel 1,489 753 1,449 Provisions 686 708 706 Inventory stores 128 142 133 Liabillities of disposal groups classified as held for sale 147 Assets of disposal 160 118 165 Total current liabilities 10,875 8,559 10,992 groups classified as held Total current assets 9,518 9,068 9,346 Non-current liabilities Debentures 24,488 25,488 25,659 Non-current assets Liabilities to banks 5,155 3,177 5,336 Inventory - fuel 1,624 1,744 1,570 Liabilities with respect to other benefits after employment 6,874 6,669 5,944 termination Long-term receivables 2,294 1,896 2,375 Deferred taxes, net 7,198 6,577 7,747 Investment in associates 4 13 11 Liability to the State of Israel 1,793 1,765 1,816 Assets with respect to 8,280 6,775 benefits after Fixed assets, net 59,123 58,229 10,368 58,866 Lease liabilities 542 688 519 Other liabilities 592 577 480 Intangible assets, net 1,188 1,220 1,158 Total non current liabilities 46,642 44,941 47,501 Total non-current assets 72,513 69,877 74,348 Equity 28,825 26,867 30,560 Debit balance of regulatory 8,581 7,004 9,156 Credit balances of regulatory deferral accounts and deferred taxes with respect to regulatory deferral accounts 4,270 5,582 3,797 Total assets and debit balance of regulatory deferral accounts 90,612 85,949 92,850 Total liabilities, equity and credit balance of regulatory deferral accounts 90,612 85,949 92,850 Source: IEC's Financial Statements for Q1-2022 Investor Relations 39

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