Energix Renewable Energies Ltd.

M&A Activity • Dec 27, 2024

This document constitutes an unofficial translation of the Company's original Hebrew report dated December 19, 2024 (reference: 2024-01-625575) (the "Report"). The Hebrew version of the Report is the binding version. This translation was prepared for convenience purposes only.

Energix- Renewable Energies Ltd.

("the Company")

Ramat- Gan, December 19, 2024

To: Israel Securities Authority www.isa.gov.il

To: The Tel Aviv Stock Exchange Ltd. www.tase.co.il

Subject: Execution of an Agreement for the Acquisition of PVprojects portfolio with a Capacity of up to 450MWp and Energy Storage of up to 260MWh in the United States

Further to the Company's immediate report dated April 14, 2024 (Reference No.: 2024-01-042342), and the Company's update in its financial statements for the third quarter of 2024 (Reference No.: 2024-01- 616455), the Company is pleased to announce as follows:

On December 18, 2024, the Company, through its wholly owned U.S. subsidiary, entered into an agreement with a leading global energy company, for the acquisition of full ownership of 4 photovoltaic projects with a total capacity of approximately 450MWp located in Pennsylvania (the "Projects"). Additionally, two of the projects include an option for the integration of energy storage facilities with a total capacity of up to 260MWh.

The projects are at an advanced development stage and, to the extent will mature to start the construction phase, are anticipated to reach commercial operation (COD) during 2025-2026.

The project portfolio will be purchased for a price of up to \$34 million, out of which approximately \$16 million will be paid at the closing of the transaction and the balance, for each project, will be paid upon the commencement of its construction. Additionally, at the closing of the transaction, the Company will pay the sellers an additional amount of approximately \$8 million as reimbursement for development expenses (equipment and grid connection payments). Furthermore, if the energy storage projects progress to construction, the sellers will receive an additional payment of up to \$3 million. The transaction's completion and transfer of ownership of the projects are expected to occur in the coming days, subject to the fulfillment of post-signing milestones.

It should be noted that the transaction structure was adjusted based on the results of the due diligence conducted by the Company in connection with the acquisition of the projects.

Information regarding the completion of the transaction, the final consideration to be paid, the final capacity of the projects to r each constr uction including in the storage segment, and the expected dates of commer cial operation of the projects is based on information provided to the Company and the Company's forecasts. Such information constitutes a forwardlooking statement within the meaning of Section 32A of the Securities Law, 5728-1968, the realization of which is uncertain and beyond the Company's control. This information may

not materialize, in whole or in part, whether in relation to the Company's forecasts or its working assumptions, due, among other things, to the risk factors characteristic of the Company's activities, as detailed in Section 31 of Par t A of the Company's periodic r eport for 2023 (Refer ence No.: 2024-01- 022716).

Sincerely, Energix - Renewable Energies Ltd.

By: Mr. Asa Levinger, CEO Ms. Dafna Reznick, EVP Legal