Energix Renewable Energies Ltd.

Investor Presentation • May 19, 2025

This document is an unofficial translation of the Company's original Hebrew Presentation dated May 12, 2025-01-032972) (the "Presentation"). The Hebrew version of the binding version. This translation was prepared for convenience purposes only.

Capital Markets Presentation May 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 quartely report as of March 31, 2025, as published on May 12, 2025 (Reference number: 2025-01-032972)
• 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.

Strategic Collaborations

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

High-Quality Assets Portfolio

1.4GW+0.2MWh of Installed capacity generating strong cash flows. Pipeline of 6.5GW+11.3GWh, ensuring future high growth

High Growth & Financial Strength

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

*Forward looking statement

Company's Project Portfolio May 2025

Including 3 E4 projects in the U.S., with a total capacity of approximately 70WWp, which were connected to the report date, *Assuming the completion of a transaction for the acquisition of a project in Lithuana with a capacity of up to 470MW. For more details regarding the Lithuania project, see slide 13.

Major Events for Q1 2025

Quarterly results

Revenues of NIS 170 million EBITDA of NIS 98 million

Portfolio of projects and construction works*

4 Completion of construction of 3 projects from the E4 portfolio with a capacity of 70MWp

← In the midst of construction works of 13 projects with a capacity of 738MWp+100MWh1 in all 3 territories of operations

Financing*

• 4 Diversification of credit sources and reduction of financing costs- Raised ~NIS 1B from diverse credit sources (NIS 500M from bond expansion), expected to generate significant financing cost savings
• 4 Completion of tax equity partner investment for projects with a capacity of 70MWp from the E4 portfolio
• • Repayment of equity2 expected equity repayment of approx. NIS 1.1 billion.

Poland and Lithuania*

• 4 Lithuania preparations for the transaction completion and start of construction in the coming weeks. Signing an MOU to receive project financing of up to €240 million

• 4 Poland -

• The Company is a pioneer in unlocking the potential of the energy storage sector in Poland with the construction of the first two stand-alone storage projects in Poland with a total capacity of 100MWh, which are expected to be connected by the end of 2025 + A government grants plan for up to 45% of the cost of construction

The Business Environment* in the United States

• ← Continued increase in demand for electricity (including green electricity) and in PPA prices against limited supply until the end of the decade.
• ¼ The Company is well prepared to deal with the tariffs and possible changes in IRA and intends to leverage its array of strategic collaborations to utilize market opportunities.
• • The Company estimates that as of this date, the impact of the import tariffs on projects under construction and in pre-construction is negligible.

*Forward looking statement -

1. Not including ARN project with a capacity of 104MW

2. For firther deals an the assumptions is caugh repayments see Squiton 4.7.3.Morthe Board of Directors Report politished near the issue of this presentation

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

1. 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.

2. 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

3. For further details on the assumptions used by the Company in the 2025 guidance see Section 4.1 of the Board of Directors Report published May 12, 2025

Project-Level EBITDA

Annual Project Revenues

The Business Environment in the United States*

General

Imposing tariffs and discussions regarding the future of the IRA create short-term uncertainty in the U.S market.

The Company has an array of strategic collaborations, an independent infrastructure of operations and financial strength, that solidifies it's competitive advantage in the market:

• • Supply of domestically manufactured panels within the framework agreement with First Solar.
• ✈ In House EPC capabilities that allows flexibility and control in project execution
• • Strong financing capabilities and working relations with leading world financial institutions
• Expected demand for electricity in the United States is robust relative to limited supply, which is expected to remain at least until the end of the decade. Solar projects constitute the shortest time to market

M&A

Alongside excersing caution regarding new acquisitions, the Company believes that the regulatory uncertainty in its sector of operations may create attractive M&A opportunities from developers who have encountered financing difficulties and/or an increase in construction costs

IRA

The Company has Safe Harbor protection under current legislation for all of the projects it is expected to build by 2027

Impact of the import tariffs on the Company

• Projects in commercial operation no impact
• E4 and E5 portfolios negligible impact on construction costs
• Projects in advanced development given the current rates, there may be a 5%-10% increase in future construction costs
• Deferral/cancellation of projects by medium and small developers creates an opprtunity of cost reduction in agreements with suppliers for future projects

*All future information in this slice is forward-looking statement

				636MWp Connected projects
			Connected projects		Projects in pre-construction /under construction		Projects in advanced development	Projects in development
PV in the United States			-X- Photovoltaic Project portfolio - VA1-VA2	----- Photovoltaic Project portfolio - E3	-0- Photovoltaic Project portfolio - E4	-0- Photovoltaic Project portfolio - E5	-02- Photovoltaic	------ Photovoltaic	N Storage
		Capacity (MWh/MW)	224	412	210**	424	428	3,550	5,360
		Construction Cost NIS millions	569 (2)	1,333 (2)	500-560* (2)	1,300=1,380*	1,215-1,315*	(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
	NIS	Income* NIS millions	62-68 (1)	135-145 (1)	77-83 (3)	160-180 (3)	165-195 (3)	tax payments in respect of profits from development and construction, less the tax equity partner's investment in respect of the tax benefit (ITC) (3) projected results for first full year of operation. The figures in this slide are based on a ITC of 40-50%
	(0) =	Gross profit* NIS millions	48-54 (1)	108-116, (1)	62-68	135-155

*Future data based on the Company's The financial figures are based on an exchange rate of NIS 36 IO \$1
**Including 3 E4 projects in the U.S., with a total capacity of approximately 70MWp, w

nnected to the grid after the report date.

o

Poland

16

		314MW connected projects
		Connected projects		Projects Under Construction			Advanced development		Projects in development
	Wind PV and storage in Poland	Wind	ST Photovoltaic Photovoltaic	-0-	p Storage NCT	A Storage NC2	8 Wind	1 Photovoltaic ~ Photo -	voltaic	Wind	Storage
	Capacity -0- (MWh/MW)	301	13	30	48	52	86	104	330	650	2,580
	Construction Costs Millions of NIS	1,579	34	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)	4-5 (1)	8-12 (2,3)	15-19 ( 2,3 )	17-21 (2,3 )	100-110 = ( 2,3 )	35-40	first full year of operation (3) On the basis of forward prices for 2025
	Annual gross profiit* in millions of NIS	301-317 (1)	3-4 (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

Lithuania

• •••••••

lsrael

			383MW + 189MWh connected projects
	Connected projects		Projects Under Construction/ ın Pre-Construction			Advanced development	Projects in development
Wind, PV and Storage in Israel	------ Photovoltaic	------ Photovoltaic combining storage	T Wind ARN (1)	-0- Photovoltaic First Competitive process in high voltage	1-3- Photovoltaic combining storage (5)	13- Photovoltaic combining storage "Mishor Rotem"	-0. Photovoltaic (including with combined storage)	Storage
Capacıty (MW/MWh)	330 (4)	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 Approva Date of the Report, the Company is preparing to resume construction works. (2) In accordance with projected results for 2025* (3) Projected results for first full year of operation (4) including approximately 9MWp that
Revenues* Annual, NIS Millions	161-171 (2)	32-38 (2)	93-101 (3)	22-26 (3)	28-32 (3)	6-8 (3)
0 Gross Profit* Annual, NIS Millions	124-132 (2)	25-31 (2)	77-83 (3)	16-20 (3)	20-24 (3)		began commercial activity subsequent to the balance sheet date (5) in accordance with the power purchase agreements with the providers and sale to the customer at a CPI- linked fixed tariff, for 23 years after the date of commercial operation

* Forward-Looking Statement

1

and of the same

Cara

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

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

	(01/25	01/24	2024
EBITDA	97,945	166,515	625,934
Lease Expenses (IFRS 16)	(7,474)	(6,031)	(30,396)
Other income/expenses (including development COSTS)	7,472	5,973	10,046
G&A	30,726	26,984	135,090
Project-level EBITDA	128,669	193,442	740,675

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

Financing and capital structure (NIS millions)

Financial Flexibility and Risk Management

• Diversification of credit sources by raising approximately NIS 1 billion (including approx. NIS 500 million via bond expansion)
• Expected equity repayment upon completion of projects under construction and in advanced development, totaling approximately NIS 1.1 billion**
• 8 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**

** Forvard-hoking statement For further details see section 4.7.3% of the Board of Directors' report published in proximity to this presentation.

Financing and Capital Structure Data in NIS Millions as of 31.3.2025

Forward-looking statement

Equity Repayment

Portfolio	Gross constructio n 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	1210-1290	Up to 1155	Up to 135	831	389	Up to 307
E5	2570-2770 Up to 2163		Up to 597	753		Up to 156
Tax benefit E3 portfolio						Up to 216
Total Expected Repayment of Equity						Up to 1101

For ward tooking statement for further dealish regarding a the assumptions used in calculating see section 47.311of the Board of Directors report published in proximity to this presentation

* *** POWEY POWEY PULCHASE 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 in pre-construction

• Approx. 83% 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. 16% of the capacity- sale of electricity at market-adjusted price with minimal price assurance mechanism for 15 years from the date of commercial operation

and the production of the first of the states

Approx. 1% of the capacity at market prices

16%

83%

• ( ) 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

Forward-looking statement

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

20 00 . 8 4