Israel Electric Financial and Sector Reform Update

The Israeli Electricity Sector Fuel Mix Electricity Market Fuel Mix (IEC & IPP) (TWH) חברת החשמל Israel Electric 81.3 72.5 72.8 69.6 67.4 68.3 17.0 3.3 4.2 65.4 63.5 1.8 2.0 61.5 61.5 59.8 1.3 6:3 58.4 0.2 1.5 0.9 0.9 2.6 9.3 48.8 22.8 21.0 27.1 10.8 30.4 34.4 41.1 43.2 46.3 46.1 61.6 34.2 35.1 38.7 32.1 30.1 29.2 24.2 22.0 20.6 21.9 19.0 2,8 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 *2025 Coal Natrual Gas ■Diesel Fuel Other Renewable Energy The Israeli Electricity Sector is expected to be "coal free" by 2030 (the target may be preceded to 2025) Source: The Electricity Authority - Report on State of Electricity Sector Year of 2020. * The Electricity Authority Forecast Investor Relations 35

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