Electreon Wireless Ltd. — Regulatory Filings 2021

May 19, 2021

This is an English translation of a Hebrew immediate report that was published on May 18, 2021 (Reference Number: 2021-01-085704) (hereinafter: the "Hebrew Version"). This English version is only for convenience purposes. This is not an official translation and has no binding force. Whilst reasonable care and skill have been exercised in the preparation hereof, no translation can ever perfectly reflect the Hebrew Version. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

ElectReon Wireless Ltd. (the "Company")

May 19, 2021

Reported Via Magna	Reported Via Magna
Israel Securities Authority	Tel Aviv Stock Exchange
To	To

Dear Sir and Madam,

Re: Collaboration with International Carmakers and Other Leading Companies in a Pilot in Italy

Further to the Company's immediate report published on November 8, 2020 (Reference Number: 2020- 01-120024), regarding a memorandum of understanding becoming effective for Societa' di Progetto Brebemi S.p.A acquiring a pilot project near the A35 toll road on the Lombardy strip in Italy ("Brebemi" and the "Pilot", respectively), the Company is honored to announce that the carmakers IVECO and Stellantis¹ have joined the group of companies participating in the Pilot.

The Company is also honored to announce that in light of the aforementioned collaboration, the Company will integrate its receiver units into vehicles manufactured by Stellantis and a bus manufactured by IVECO. The Company assesses that said integration will enable it to offer its customers a wide range of vehicles ready for wireless charging via its systems.

A collaboration with international carmakers is an important milestone in the Company's strategy and, the Company assesses, that this will help accelerate penetration of the wireless charging system around the world. It should be noted that the Company recently started integrating the technology it has

¹ A company created by the merger between the Italian/US carmaker FCA (Fiat Chrysler) and the French PSA Group (Peugeot-Citroen).

developed on vehicles manufactured by Volkswagen, as described in the Company's immediate report published on January 31, 2021 (Reference Number: 2021-01-011908).

To the best knowledge of the Company, the group participating in the Pilot includes a range of other Italian and international corporations, including: ABB (a leading engineering and electrical parts company); Mapei S.p.A (an Italian chemical manufacturer); TIM Business (a provider of G5 and communications solutions); FIAMM Energy Technology (a provider of energy solutions); Pizzarotti (a large projects company); Prysmian Group (a manufacturer of energy and communications cable systems); and leading Italian research institutions, including the Politecnico di Milano, University of Parma, and Roma Tre University.

The Pilot will be called the "Arena of the Future" and, as part of the Pilot, the Company will be responsible to deploy an electric road system on a stretch spanning approximately 1,050 meters which will be connected to an approximately 1 megawatt grid connection. This road is anticipated to charge the vehicles participating in the Pilot, both while in motion and when stationary.

In addition to that set forth above, the Company intends to examine and exhibit the following items as part of the Pilot: (1) The Company's ability to generate revenues from toll roads; (2) Various IOT (Internet of Things) communications applications which increase the safety and efficiency of vehicles which wirelessly charge from toll roads; and (3) The optimization of various methods to deploy the charging infrastructure on the road which ensure the wireless charging system is able to properly work over an extended period of time.

The Company's assessments and estimations regarding the Pilot's success, integrating its systems in electric vehicles and the wireless ERS penetrating global markets and particularly the toll road market, are "forward-looking information", as defined in the Securities Law, 1968, based on many factors and variables which are beyond the Company's control. These assessments and estimates may not materialize, in whole or in part, or may materialize in a materially different manner than expected by the Company. The main factors which may affect these estimates and assessments include the materialization of any of the risk factors detailed in the chapter describing the corporation's state of affairs in the Company's 2020 periodic report which was published on March 29, 2021 (Reference Number: 2021-01-049917).

Sincerely, ElectReon Wireless Ltd.

Executed on the reporting date by: Oren Ezer, Chairman of the Board of Directors and CEO Barak Duani, CFO