NewMed Energy

Notice of Dividend Amount • Aug 7, 2025

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

NewMed Energy - Limited Partnership

("the Partnership")

August 7, 2025

To:

Israel Securities Authority 22 Kanfei Nesharim Street Jerusalem

TEL AVIV STOCK EXCHANGE LTD 2 Ahuzat Bayit Street Tel Aviv

Dear Sir/Madam,

Re: Profit Distribution

The Partnership is honored to announce that today, August 7, 2025, the board of directors of the general partner in the Partnership ("the Board"), after receiving the recommendation of the committee for reviewing the financial statements of the general partner in the Partnership ("the Balance Committee"), has decided on a profit distribution in a total amount of 60 million US dollars, with the record date for the distribution being August 19, 2025.

Below are details regarding the review conducted by the Balance Committee and the Board in connection with the decision to distribute profits as stated:

The Balance Committee and the Board examined the Partnership's compliance with the profit test and the solvency test as set forth in Section 302(a) of the Companies Law, 1999, and following this review, approved the Partnership's compliance with these tests in relation to the said profit distribution.

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

1. Regarding compliance with the profit test, the Balance Committee and the Board approved the said profit distribution based on the Partnership's retained earnings as of June 30, 2025, which exceeds the amount of the distribution as stated. It should be noted that, in light of the planned work programs, and considering the obligations undertaken by the Partnership in connection with the Leviathan, Aphrodite, and Yam Tethys projects, as well as the bonds issued by LEVIATHAN BOND LTD, and in accordance with the resolutions of the general meeting of the holders of the Partnership's participating units regarding the avoidance of profit distributions¹⁰¹, the Balance Committee and the Board decided to approve a distribution in an amount lower than the distributable profits of the Partnership.

2. Regarding compliance with the solvency test, the Balance Committee and the Board considered, among other things, the following matters:

3. Data regarding the financial position of the Partnership, including data on the Partnership's liquid balances, existing and future obligations of the Partnership, including their maturity dates

4. The Partnership's expected future cash flows
5. Assumptions regarding the Partnership's expected future sources and uses, including examination of possibilities for additional development stages in the Leviathan project, including the advancement of Phase 1B development in the Leviathan project¹⁰² and investment in the Aphrodite project¹⁰³
6. Additional financing sources available to the Partnership, including credit facilities available to the Partnership and the possibility of additional debt raising¹⁰⁴
7. Tax payments and oil profit levy
8. Execution of future investments that have been approved and/or will be approved in the foreseeable future

After reviewing the above matters, the Balance Committee and the Board approved that the Partnership meets the solvency test in relation to the said profit distribution.

1. In the assessment of the Balance Committee and the Board, the said profit distribution will not materially adversely affect the Partnership's financial position, including its capital structure, leverage level, liquidity status, or its ability to continue operating in its current business format.

2 -

The trustee has given his consent to the said profit distribution.

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

It should be noted that, in August 2021, an amendment was approved to the Income Tax Regulations (Rules for Calculating Tax Due to Holding and Selling Participating Units in a Partnership for Oil Exploration), 1988, whereby, among other things, starting from the 2022 tax year, there was a change in the tax regime applicable to the Partnership, so that it is taxed as a company, and accordingly, any profit distribution from the Partnership will be subject to tax as if the distribution were a dividend on shares.

The reporting form is adapted for a company dividend distribution and not for a partnership profit distribution. Therefore, attention is drawn to the following notes:

1. In Section 3 of the reporting form - the security of the entity to which the profit distribution is made is a participating unit (and not a share).

2. Wherever the reporting form states "dividend", it refers to "profit distribution".

3. Wherever the reporting form refers to a "company", it refers to a "partnership".

Warning Regarding Forward-Looking Information - The assessments mentioned in paragraphs 2 and 3 above constitute forward-looking information Respectfully,

NewMed Energy Management Ltd.

The General Partner in NewMed Energy - Limited Partnership

By: Yossi Abu, CEO

and Tzachi Chavusha, CFO

FOOTNOTE:

¹⁰¹ For details, see Sections 4.5.2-4.5.6 of Chapter A in the Partnership's periodic report for 2024, published on March 10, 2025 (Reference No.: 2025-01-015633) ("the periodic report").

¹⁰² For details regarding Phase 1B in the Leviathan project, see Section 7.2.5 of Chapter A in the periodic report.

¹⁰³ For details regarding the approval of the updated development plan for the Aphrodite reservoir, see Section 7.3.11 of Chapter A in the periodic report.

¹⁰⁴ For details, see Section 9 of the update to Chapter A in the Partnership's first quarter report for 2025, published on May 12, 2025 (Reference No.: 2025-01-032985).