Enlight Energy — Director's Dealing 2026

May 11, 2026

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

☐ Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

☐ Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934

or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* SEROUSSI YAIR
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(Last) (First) (Middle)
C/O ENLIGHT RENEWABLE ENERGY LTD. 13 AMAL ST. AFEK INDUSTRIAL PARK
(Street)
ROSH HA'AYIN 4809249
(City) (State) (Zip/Postal Code)
ISRAEL
(Country)
Table I – Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title of Security (Instr. 3)	2. Transaction Date(Month/Day/Year)
Ordinary shares, NIS 0.1 par value per share	05/07/2026
Ordinary shares, NIS 0.1 par value per share	05/07/2026
Ordinary shares, NIS 0.1 par value per share	05/07/2026
Ordinary shares, NIS 0.1 par value per share	05/08/2026
Ordinary shares, NIS 0.1 par value per share	05/08/2026
Ordinary shares, NIS 0.1 par value per share	05/08/2026
Table II – Derivative Securities Acquired, Disposed of, or Beneficially Owned(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative Security (Instr. 3)	2. Conversionor ExercisePrice ofDerivativeSecurity

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Stock Options (right to buy)	$23.22^{(1)}	05/07/2026		M			30,744	(6)	09/30/2028	Ordinary shares, NIS 0.1 par value per share	30,744	$0	40,256	D
Stock Options (right to buy)	$23.22^{(1)}	05/08/2026		M			4,256	(6)	09/30/2028	Ordinary shares, NIS 0.1 par value per share	4,256	$0	36,000	D
Stock Options (right to buy)	$27.33^{(7)}							(8)	10/01/2032	Ordinary shares, NIS 0.1 par value per share	51,574^{(9)}		51,574^{(9)}	D
Stock Options (right to buy)	(10)							(10)	(10)	Ordinary shares, NIS 0.1 par value per share	11,339^{(9)}		11,339^{(9)}	D

Explanation of Responses:

1. Represents an exercise price of NIS 71.89, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 3.096 as of March 18, 2026.
2. Includes 7,117 restricted share units granted on April 17, 2024, with 3,558 vesting on and April 17, 2027 and 3,559 vesting on April 17, 2028. Each restricted share unit represents a contingent right to receive one ordinary share of the Company.
3. These shares were retained by the Company in payment of the exercise price of the employee stock options exercised by the Reporting Person. The amount retained by the Company was not in excess of the amount of the exercise price.
4. Represents a transaction price of NIS 263.11, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 2.903 as of the date immediately preceding the date of the transaction.
5. Represents a transaction price of NIS 258.85, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 2.907 as of the date immediately preceding the date of the transaction.
6. Stock options were granted on September 30, 2021, with 8,875 having vested on each of December 30, 2023, March 30, 2024, June 30, 2024, September 30, 2024, December 30, 2024, March 30, 2025, June 30, 2025, and September 30, 2025.
7. Represents an exercise price of NIS 84.60, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 3.096 as of March 18, 2026.
8. Stock options were granted on October 1, 2025, with 12,893 vesting on each of October 1, 2026, and October 1, 2028, and 12,894 vesting on each of October 1, 2027, and October 1, 2029.
9. No transaction has been effected by the Reporting Person with respect to these securities, and they are being included in this Form 4 for informational purposes only.
10. Performance-based RSUs ("PSUs") were granted on October 1, 2025 and vest in four annual tranches: 2,834 on October 1, 2026, and 2,835 on each of October 1, 2027, 2028, and 2029, subject to continued service as an office holder and achievement of performance metrics for the preceding calendar year. The metrics, Total Income and Revenues, and Adjusted EBITDA (each as reported in the Company's Annual Report on Form 20-F), are measured against the midpoint of the Company's forecast published at the start of the applicable performance year. Achievement of 90% of the target yields 50% vesting for that metric's portion of the tranche, with linear interpolation for achievement between 90% and 100%. Metrics are weighted equally and evaluated independently; overperformance in one cannot offset the other. Each PSU represents a contingent right to receive one ordinary share of the Company upon vesting.

/s/ Helit Megido as attorney-in-fact for Yair Seroussi
** Signature of Reporting Person

05/11/2026
Date

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