Energix Renewable Energies Ltd.

Investor Presentation • Aug 18, 2025

This document is an unofficial translation of the Company's original Hebrew Presentation dated August 11, 2025-01-059268) the "Presentation"). The Hebrew version of the binding version. This translation was prepared for convenience purposes only.

Capital Markets Presentation August 2025

For accessible reporting follow this link- click here

General notes regarding the presentation

• This presentation was prepared by Energix Renewable Energy Ltd. ("the Company") This presentation does not constitute an offer to buy or sell the Company's securities, or an invitation to receive any such offers, but rather is intended only for the presentation of information. The information that will be used in the "Information") is presented for convenience purposes only, and should not form, in and of itself, the basis for reaching any investment decisions, recommendation or opinion/does not come in lieu of the investor's discretion.
• The information provided in this presentation in connection with the analysis of the . Company's activity constitutes a condensed summary only, and the Company bears no responsibility for any damages and/or losses whatsoever which may be incurred due to the use of this information. In order to obtain a full picture of the Company's activity, and of the risks faced by the Company, please review the annual report for 2024, the quarterly financial reports, as reported to the Israel Securities Authority, and the Company's routine reports through the MAGNA distribution website. The terms used in this presentation may be presented after segmentation, or at a different level of detail than presented in the Company's reports, or data may have been included which have not yet been included in the Company's reports, or which have not yet been presented in the same way as in this presentation, and which are correct according to the Company's best assessment as of the date of their presentation.
• It is clarified that the information provided in this presentation includes, from time to time, reference to forecasts, estimates, approximations, macroeconomic forecasts, developing trends in the energy market, changes in electricity prices and in produced quantities, revenue forecasts, calculations of forecasts, EBITDA and forecasts regarding dividends in 2025, development and construction of energy projects (projected timetables, construction costs, data regarding expected connection of facilities to power grids and future income) or other information pertaining to a future event or matter, which are uncertain to materialize, and which are not under the control of the Company and/or the Group, and which therefore constitute Forward-Looking Statements, as this term is defined in section 32a of the Securities Law - 1968 ("Forward Looking Statement").
• Accordingly, any reference in this presentation to "forward-looking statement" means any forecast, estimate, approximation, or other information which refers to future events on matters, whose materialization is uncertain and which are not under the control of the Company and/or the Group. This information is based on knowledge which is available to the Company or to the Group as of the Approval Date of the Report, or on information which was published in external sources, and may change, inter alia, due to the effects of business-economic and regulatory factors, and the general risk factors which are characteristic of the Company's activity, and their materialization is therefore uncertain.

Accordingly, the actual results in respect of such information may differ significantly from the presented information or from the results which have been estimated on the basis of the information, or are implied by such information, and which are included in this presentation.

• The Company does not undertake to update and/or change any of these targets and/or estimates in order to reflect events and/or circumstances which occur after the date when this presentation was prepared.
• The Company's actual revenues are directly affected by changes in: 1. The prices of electricity and green certificates, which are determined according to their prices on the relevant exchanges, and which are directly affected by legislative activities and market forces; 2. By the exchange rates of the various currencies; 3. By weather conditions, sunlight intensity and wind quality in the various territories, and 4. By the availability and proper functioning of the Company's electricity production systems.
• The Company's estimates regarding forecasts were made in good faith, and based on the Company's accumulated past experience and professional know-how. This information is presented below for convenience purposes only, and does not constitute an alternative to information which has been given by the Company in its financial statements, or in connection therewith. For complete data regarding these forecasts, including the assumptions and the reference to forward looking statements therein, see the Company's quarterly report as of june 30, 2025, as published on August 11, 2025
• (Reference number: 2025-01-059264)

The following terms will have the meanings defined below when used in this presentation: Portfolio of mature projects - Includes commercially active projects in which construction has been completed and which have been partially connected to the grid, projects under construction and projects in advanced development; Commercially active projects - Projects whose construction has been completed, and where the electricity produced therein is transmitted to the relevant power grid; Projects under construction or in pre-construction - Projects which are currently under construction, or in which construction is expected to begin in the near future; Projects in advanced development -Projects which the Company estimates can reach a financial closing or readiness for construction within the next 12 months, or projects in development which have won a guaranteed tariff; Projects in development - Projects in various stages of development which could mature into projects under construction, in which the Company has ties to the land, and in which the Company is working to obtain the permits and authorizations which are required for their construction.

Financial Strength

Strategic plan goal of 4GW+1.3GWh installed capacity in 2026 with no additional capital required*

Energix Renewable Energies

Accelerated Growth

27% revenue CAGR in the past 5 years. Expected revenue increase by more than 2.5X by 2027*

Vertically Integrated

A-Z capabilities, from greenfield development to full lifecycle management, including EPC expertise, enhanced by a global Al-powered monitoring system

A Global Company

Operating in the United States, Poland, Lithuania and Israel. Established expertise and designated teams in each teritory

Strategic Collaborations

Santander

Company's Project Portfolio August 2025

*Assuming the completion of a cansaction of a project in Lithuania and in Chio with a capactly of up to 570MW, Forward. looking statement

Major Events for Q2 2025

Quarterly results

Revenues of NIS 196 million EBITDA of NIS 124 million

Portfolio of projects and construction works*

• • ARAN commence construction in two phases, with part of the turbines allocated to other Company projects. In light of recent changes, the Company recorded an accounting impairment of approx. NIS 36 million
• ¼ U.S.- a total of ~148MWp from the E4 portfolio has been connected to the grid, including ~78MWp in the current quarter
• ← Poland commercial operation of a ~30MWp PV project and completion of construction of a ~48MWh Stand-Alone storage project
• ಳ The Company is in the midst of constructing 12 projects with a total capacity of ~2734MW + 210MWh

Financing*

• ← Signed a financing agreement with MUFG Bank of up to USD 491 million for the construction of the E5 portfolio, totaling ~270MWp. Expected equity contribution of ~3%
• 4 Signed a tax equity investment agreement with Google of up to USD 100 million, marking the first completion of the full set of agreements required for the project, under the strategic collaboration with Google
• Financing of storage facilities in Poland through a credit line of PLN 100 million
• Signed a project financing agreement of up to NIS 94 million for a project totaling ~30MWp+48MWh

Poland and Lithuania*

• ← Poland secured new grid connection approvals totaling ~1GW, bringing the Company's total approved connection capacity to ~1.35GW. In addition, the Company has ~2GW of pending grid connection applications
• ← Lithuania received a building permit for the JONAVA wind farm project. Transaction expected to close in Q4/25 upon receipt of the building permit for the solar project

The Business Environment in the U.S*

• & The approval of the OBBB Act is not expected to impact the Company's business plan to develop ~5GW of projects by 2030, in line with its Safe Harbor strategy1
• & M&A signed an agreement to acquire the Nottingham PV project in Ohio (~100MWp) for USD 6 million, covering reimbursement of expenses only, with no development fee

• ← PJM capacity auction a 22% increase in capacity prices reflects excess demand over supply in the grid. Expected annual capacity revenues of USD 10-12 million

• Sobject of the publication of new Safe Harborguiden of begin ing of construction of beginning of consicelitering of constitution of tresvential Order issus (m. 2025 - -2. including ARAN project with a capacity of 104MW

Development of the Company's Operating Results¹

The following are the Company's results and guidance in respect of its project portfolio (NIS millions)

• Connected MW+MWh at year-end
• Poland
• Israel

• United States

• 2025 guidance and Company's estimates regarding revenues of 1.1 billion for a full year of operations generated from installed capacity of 2GW+0.4GWh constitutes forward-looking statement.

• The Company's revenues estimate in full year of operations generated from an installed capacity of 2GW+0.4GWh as of the end of 2025

• For further details on the assumptions used by the Company in the 2025 guidance see Section 3 of the Board of Directors Report published August 11, 2025

Project-Level EBITDA

The U.S. Regulatory Landscape*

• Adoption of the OBBB Act no material impact on the Company's operations, with the potential to develop projects totaling approximately 5GW by 2030 under Safe Harbor protection
• 4 The Company currently holds Safe Harbor protection for ~1.5GW through 2028 and can increase its capacity in an additional ~3.5GW by 2030, subject to the outcome of the Presidential Order1
• ← First Solar strategic collaboration
  • Provides the Company with operational flexibility and reduces its exposure to changes in U.S. regulations related to supply chain and tax incentives
  • Significant value uplift of the framework agreement in light of FEOC restrictions, tariff policies, and AD/CVD measures

No exposure to panel price increases in the coming years

4 Given the expected electricity demand surplus in the U.S. through at least the end of the decade, the Company believes that market forces will create conditions enabling the development of solar projects even without tax incentives

Expected increase in electricity prices and decline in construction costs

4 Accelerated M&A activity - the Company is leveraging its competitive advantages in the current regulatory environment to identify attractive acquisition opportunities and is engaged in negotiations at various stages for additional projects

1. Subject to the publication of new Safe Harbor guideling the definition of 'beginning of construction' pursuant to the Presidential Order issued on July 7, 2025

				784MWp Connected projects
Connected projects		Projects in pre-construction /under construction		Projects in advanced development	Projects in development
PV in the United States	(---) Photovoltaic Project portfolio - VA1-VA2	-0- Photovoltaic Project portfolio - E3	---- Photovoltaic Project portfolio - E4	Photovoltaic Project portfolio - E4	Photovoltaic Project portfolio - E5	-6- Photovoltaic	---- Photovoltaic	B Storage
Capacity (MWh/MW)	224	412	148	62	422	428	3,550	5,360
Construction Cost NIS millions	569 (2)	1,407 (2)	370-380 2)	160-170*	1,170-1,270*	1,290-1,390* (2)	(1) In accordance with the projected results cost to third parties, including financing expenses during the construction period,	for 2025* (2) the construction cost represents
Income* NIS millions	62-68 (1)	135-145 (1)	50-54 (3)	24-28 (3)	160=180 (3)	165-195 (3)	tax payments in respect of profits from development and construction, less the tax full year of operation. The figures in this slide are based on a ITC of 40-50%	equity partner's investment in respect of the tax benefit (ITC) (3) projected results for first
Gross 2014 profit* NIS millions	48-54 .	108-116,	40-44	20-24	135-155

*Future data based on the Company's estimates, constituting
The financial figures are based on an exchange rate of NIS 3.6

Poland

16

10

New Grid Connection Approvals In Poland

Secured new grid connection approvals with a total capacity of ~1GW

• • Total grid connection approvals of ~1.35GW for 2026-2031
• • Driving meaningful value creation while significantly de-risking the Company's development pipeline
• • Supporting accelerated growth of the Company's operations in Poland over the coming years*
• • Grid connection approvals create the opportunity to acquire potential projects lacking connection agreements at substantially below-market costs*

		344MW connected projects
		Connected projects		Projects Under Construction			Advanced development		Projects in development
	Wind PV and storage in Poland	Wind	28 Photovoltaic Photovoltaic	----	A Storage NCT	Storage	8 Wind	1 Photovoltaic - Photo -	voltaic	Wind	Storage
	Capacity -0- (MWh/MW)	301	43	30	48	52	86	116	330	650	3,240
	Construction Costs Millions of NIS	1,579	97	61-71	50-70*	50-70*		495-555 255-275		(1) In accordance with projected results for 2025* (2) Projected results in the
	Annul revenue* in millions of NIS	369-389 (1)	8-9 (1)	8-12 (2,3)	15-19 ( 2,3 )	17-21 (2,3)	100-110 € (2,3)	40-45 (2,3 )	first full year of operation (3) On the basis of forward prices for 2025
	Annual gross profit* in millions of NIS	301-317 (1)	7-8 (1)	8-10 (2)	12-16 (2)	14-18 (2)	1 zloty	* Forward-Looking Statement ** Monetary data based on exchange rate of 0.9 to

lsrael

13

Aran Wind Project – Status Update*

• • Following the end of the war in the North and in light of the geopolitical changes in Syria, the Company prepared to resume construction works on the project, but encountered violent opposition on the ground
• • The Company is now preparing to commence construction in two phases: Phase A-10 turbines, Phase B-11 turbines

| The Company intends to fully execute the project, including exercising all its rights (among them compensation for costs incurred due to the delay)

• • Alongside Phase A construction, the Company plans to deploy the remaining 11 turbines in an alternative project within its portfolio
• 4 In light of recent developments, the Company recorded an accounting provision for an impairment of approximately NIS 36 million in the project's book value

For further deading the ARAN project and the assumptions used in its raliation, see Note inancial statements published alongside this presentation

	383MW + 189MWh connected projects
	Connected projects			Projects Under Construction/ in Pre-Construction		Advanced development	Projects in development
Wind, PV and Storage ın İsrael	- - - Photovoltaic	-必- Photovoltaic combining storage	T Wind ARAN** (1)	10- Photovoltaic First Competitive process in high voltage	-0- Photovoltaic combining storage (4)	-0- Photovoltaic combining storage "Mishor Rotem"	10-2-2 Photovoltaic (including with combined storage)	Storage
Capacity (MW/MWh)	330	53 (189MWh)	104	87	58 (158MWh)	14 (50MWh)	350	2800
Construction Cost NIS Millions	1,200	327	650-750*	290-320*	310-340*	50-70*	(1) Regarding ARN project - Company's share in cash flows is 100%. The Company holds an ownership stake of 80.5%. As of the Approval Date of the Report, the Company is preparing
Revenues* Annual, NIS Millions	161-171 (2)	32-38	93-101 (3)	22-26 (3)	28-32 (3)	6-8 (3)	to resume construction works. (2) In accordance with projected results for 2025* (3) Projected results for first full year of operation
01 Gross Profit* Annual, NIS Millions	124-132 (2)	25-31 (2)	77-83 (3)	16-20 (3)	20-24 (3)	years after the date of commercial operation	(4) in accordance with the power purchase agreements with the providers and sale to the customer at a CPI-linked fixed tariff, for 23

* Forward-Looking Statement

** For details regarding the Board of Directors' resolution to construct the project in two phases and the revision of the estimate for the construction of Phase B, see Section 2.5.1 of the Board of Directors' Report as well as Note 7a1 the second quarter of 2025, published shortly before this presentation

Financial Data

業 ENERGIX
2017/08/08/08/2017/08/08/2017/08/08/08/2017/08/08/08/2017/08/08/2017/08/08/2017/08/08/2017/08/08/2017/08/08/2017/08/08/2017/08/08/2017/08/08/08/2017/08/08/08/08/08

Financing and capital structure (NIS millions)

Financial Flexibility and Risk Management

• Signing of a project financing agreement with the MUFG bank to finance the construction of the E5 project portfolio in the U.S. for up to USD 491 million
• A dedicated credit facility financing for the construction of the stand-alone storage projects in Poland in the amount of PLN 100 million
• Foreign exchange risk management policy -(\$) ( Maximum exposure of up to 20% of equity to a single currency

Dividends of NIS 0.40 for 2025 quarterly distribution**

Financing and Capital Structure Data in NIS Millions as of 30.6.2025

** Utilization of the facility under the financing agreement

is subject to the renewal of the project sonstruction works and the lenders' approval

NIS 4.66 billion Project finance Duration of ~ 7.2 on a non-recourse basis

Approx. 6,120 NIS millions NIS 916 million Bonds duration 2.6

NIS 548 million Convertible Bonds Duration 2

Appendix

Equity Repayment

Portfolio	Gross construction cost	Financing Facility and Tax Equity Partner Investment	Scope of Expected Equity*	Cost invested as of the Reporting Date	Scope of Financing/Tax Equity Partner Investment Withdrawn	Expected Repayment of Equity*
			NIS in Millions
ARN	650-750	Up to 650**	Up to 100	540	18	Up to 422
E4	1330-1385	Up to 1292	Up to 93	936	***637	Up to 206
E5	2560-2760	Up to 2540	Up to 220	816		Up to 596
lsrael (PV+storage)	310-340	Up to 234	Up to 106	308	73	Up to 129
Tax benefit E3 portfolio						Up to 167
Total Expected Equity Repayment						Up to 1520

Forward looking statement. For further details regarding the assumptions used in calculating equity returns, see section 5.5.3.12of . the Board of Directors' report published in proximity to this presentation.

* Utilization of the financing agreement is subject to the renewal of faelogieds gonstruction works and the lenders'

approval

and wincludes NIS 110 million restricted cash 11

Adjustment to Project Level EBITDA

Analysis of project level EBITDA which is used by the Company to calculate its operating results in accordance with its Gudance, as specified in slide 6

	02/25	02/24
EBITDA	123,759	156,397
Lease Expenses (IFRS 16)	(8,936)	(8,006)
Other income/expenses (including development COSTS
GSA	6,112	2,679
Project-level EBITDA	35,045 155.987	28,661 17.78

For further details, see section 2.1 of the Board of Directors' report published in proximity to this presentation

***** POWEY PUIChase agreements As of the approval date of the report

The Company signed power purchase agreements, hedge agreements and won tariff autions to create optimization between leveraging the high price environment in the operating markets and reducing the exposure to price volatility in the medium term

lsrael, 632MW+347MWh

Projects in commercial operation, under construction and in pre-construction

• • Approx. 86% of the capacity at a fixed, CPI-linked tariff, for a period of 20-23 years from the date of commercial operation
• • Approx. 14% of the capacity is expected to be sold under market regulation at a fixed rate linked to the production rate* As of the Report Date, 53MWp+189MWh (~8% of total capacity) have been connected and are operating under market regulation

Projects in commercial operation, under construction and

• Approx. 88% of the capacity at fixed price for the sale of electricity and Green Certificates, within the framework of PPA agreements for a period of 15-20 years from the commercial operation date.
• Approx. 10% of the capacity- sale of electricity at market-adjusted price with minimal price assurance mechanism for 15 years from the date of commercial operation

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

Approx. 2% of the capacity at market prices

14%

8695

• ( ) Sale under hedging or fixed price in accordance with power purchase agreement
• Sale at market prices
• ‍ price with minimal price assurance mechanism

Poland, 344MW+100MWh

Projects in commercial operation, under construction and in pre-construction

• ↑ Banie 1+2 (106MW)- 90% of the capacity is hedged for a 7-year period at a price of PLN 460-480 per 1MWh
• • Banie 3, Sepopol (126MW)- 65% of the capacity on average for 15 years at a CPI-linked price of PLN 280-310 within the framework of a rate auction
• ✈ Banie 4 (56MW)- 80% of the capacity on average for 15 years at a CPI-linked price of PLN 320-330 within the framework of a rate auction
• † PV (43MW) market prices
• • NC2, NC1 100MWh (stand-alone storage) market prices

A BREAKTHROUGH GLOBAL GREEN UTILITY ("GGU"), COMMITTED TO OUR FUTURE ON THE PLANET

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