Opc Energy Ltd.

Investor Presentation • Nov 24, 2025

Corporate Presentation

NOVEMBER 2025

Disclaimer

Receipt of information from OPC Energy Ltd. (hereinafter - the "Company") is subject to this legal disclaimer.

This presentation is provided solely for the purpose of delivering condensed information for convenience purposes, and it should not be copied or distributed, or used for any other purpose. This Presentation does not purport to be comprehensive nor to include all the information that may be relevant in making an investment decision in connection with the Company's securities. For details about the Company, its activity, business environment, results and risk factors arising from its activity, see the immediate and periodic reports filed by the Company to the Israel Securities Authority and to the Tel Aviv Stock Exchange Ltd., including forward-looking information warnings, as defined in the Securities Law, 1968 (hereinafter - the "Securities Law"), included therein. It is noted that the presentation may include immaterial data, macroeconomic data and publicly-available data, as well as data that are presented in a form of processing and/or editing and/or segmentation different than those used in the Company's reports.

The information provided by the Company or by anyone acting on its behalf (including in this presentation), includes forward-looking information, as defined in the Securities Law, which is based on Company's assessments and plans as of this date alone, the materialization of which is uncertain. Such information includes, among other things (and for illustration purposes only) information in connection with the execution of transactions (or their terms and conditions if they are executed), the estimation of expected investment amounts, results, spark spreads and expected performance (including spark spread, revenues, FFO, EBITDA, financing amounts, leveraging ratios, costs, returns), expected time frames for performance and future dates, completion of future projects (including projects under development or construction), their final cost, the performance and characteristics of projects that have not yet been operated, the scope of the backlog of projects under development, the planned commercial outline of projects, planned generation technologies, business plans, conditions and milestones for their performance, completion of transactions and their final terms and conditions, business policy, including hedging policy of energy prices (scope, considerations and characteristics), assessments and forecasts as to developments in the markets in which the Company operates, macro or market trends, including forecasts as to energy prices (including forecasts as to the price of electricity and gas and capacity tariffs), supply, demand (specifically demand for electricity and energy), future production targets, changes in the relevant markets or in related markets or regulatory developments/effects, etc.

The forward-looking information may not materialize, in whole or in part, or materialize in a manner that is materially different than expected, or may be affected by various factors, some of which are beyond the Company's control, including changes in market conditions (including changes in tariffs (such as the generation component, capacity tariffs), changes in energy prices, macroeconomic changes, changes in market trends, etc.), changes in regulation or legislation (including the application of additional regulatory requirements or changes in policy), procedures for obtaining approvals/permits, planning procedures, licensing and obtaining rights to land, formulation of the final terms and conditions of commercial agreements/ financing agreements/ suppliers agreements/ hedging agreements/ investment agreements, operational events (including maintenance works, malfunctions or technical delays), procedures of connection to infrastructures and to the electrical grid (including connection agreements or securing space on the grid), changes in raw materials costs or in supply chains, force majeure and weather events, the security situation in Israel and geopolitical events or the materialization of one or more of the risk factors to which the Company is exposed as stated in its reports. Furthermore, the Company's plans and its intentions as set out in the presentation are subject to the approval and discretion of the Company's members. It is emphasized that the presentation includes information received from sources outside the Company (including business data, market prices, and trends in the energy market), or taken from publicly-available publications of various entities or government agencies, and was not independently verified by the Company.

OPC makes no representation as to the accuracy and/or completeness of the information provided in this presentation. For the avoidance of doubt it is clarified that the Company does not undertake to revise and/or change the information included in the presentation to reflect events and/or circumstances that may occur after the date on which the presentation was prepared. It is further clarified that this presentation does not constitute a representation or warranty regarding the materialization of future plans, the materialization of forward-looking information or forecasts as to the Company or its areas of activity, or in relation to market or sectoral data, or macroeconomic data, which are based on information external to the Company.

The adjusted profit or loss data and the EBITDA and FFO data in this presentation are not recognized under IFRS or under other generally accepted accounting principles as a metric for measuring financial performance, and should not be deemed as a substitute for profit or loss or other terms that were set in accordance with IFRS. The Company's definitions of adjusted profit or loss or EBITDA or FFO vary from those used by other companies (for the definitions of the terms mentioned above, see the Company's 2024 Board of Directors Report).

This presentation does not constitute an offering, recommendation, advice, proposal or invitation to purchase, subscribe or carry out a transaction involving the Company's securities or any other securities, and is not a substitute for seeking advice and independent judgment of an investor that considers the execution of a transaction involving securities.

Introduction to OPC

OPC Energy at a Glance

IPP with robust development capabilities across the entire value chain led by a strong management team with deep industry expertise

Diversified energy portfolio in natural gas (with potential for carbon capture), wind, solar and energy storage

Global platform with operating projects in Israel and in the U.S., supported by tailwinds from the business and regulatory environment

3.6 GW operating projects, with a total portfolio of 14.2 GW(1) plus 4.6 GWh storage

Robust financial position, capital structure and shareholder support with a market cap of USD ~5.8 billion(2)

LTM Q3'2025 financials Revenue: USD ~850 million EBITDA: USD ~440 million

2) As of November 23, 2025.

Israel

Substantial Growth Portfolio of 14.2 GW⁽¹⁾ and 4.6 GWh*

Diversified Global Portfolio Across Stages of Development

	2.5 GW	1.1 GW	0.2 GW	6.9 GW	10.7 GW	-
苁	1.1 GW	0.1 GW	1.4 GW	0.9 GW	3.5 GW	4.6 GW
	In Commercial Operation (2)	Under Construction (2)	Advanced Development	Early Development	Total	Storage in Israel

¹⁾ The projects are presented according to CPV's relative share in each project.

The projects Basin Ranch (under construction) and Shore (in commercial operation) are presented according to the CPV's ownership stake, as of the Q3 2025 report approval date (70% and 89%, respectively). For details regarding the transactions to buy out the remaining partners in the two projects, which have not yet been completed see Slide 8.

^*Note: This slide includes forward-looking information, regarding which there is no certainty of materialization. See legal waiver on Slide 2.

OPC Energy Evolution*

Israel

OPC has a proven track record as a global diversified IPP and greenfield developer

U.S. – Competitive Power Ventures

¹⁾ Not including early stage development projects (except Intel)

Complementary Regional Segments to Execute OPC's Mission*

OPC's Israel and U.S. segments align seamlessly, providing a diversified revenue profile and staggered development timelines

Israel operations deliver robust, contracted cash flows that fuel aggressive U.S. expansion. With robust hedging strategies in place, OPC is well-positioned to de-risk growth while capturing selective upside from merchant-market exposure

Recent U.S. Consolidation Activities*

OPC creates significant value through its fully integrated strategy with high quality development underpinning its growing asset base, with a focus on consolidating positions in its assets

In 2024 and 2025, CPV acquired partner stakes in the Shore and Maryland power plants, with a combined capacity of 0.8 GW

In October 2025, CPV signed agreements to acquire the remaining 30% interest in Basin Ranch from GE Vernova, consolidating its ownership, and the remaining partner (11%) in Shore, increasing to full ownership(1)

CPV is in advanced negotiations to acquire the remaining partner's holdings (25%) in Maryland in exchange for the sale of its holdings (10%) in Three Rivers and a non-material cash payment

CPV continues to actively pursue opportunities to increase its holdings in active gas assets

Basin Ranch(1) – Combined Cycle with Capacity of 1.35 GW*

Construction of CPV's flagship project in Texas has begun

Ownership

70% CPV and 30% GEV

An agreement was signed to buy out the Partner(2)

The total amount associated with the acquisition is ~USD 371 million

Schedule

Expected operation: 2029

USD 1.8-2.0(3)

billion

Construction cost

Approx. USD 1.1(3) billion

Senior financing from TEF

USD 470

million

CPV's share in equity(4)

USD 300 million(5) loan from Bank Leumi

Capital injection of USD 170 million(6)

USD 275

million

Expected EBITDA(3)(7)

USD 250

million

Expected cash flow after senior debt servicing(3)(7)

• 1) Including future carbon capture potential.
• 2) Has not yet been completed.
• 3) Data are presented with respect to 100%.
• 4) In addition, as part of the TEF's financial closing, the Company provided additional collateral in the form of letters of credit for a total of approx. USD 135 million.
• 5) CPV is negotiating with Bank Leumi to increase the loan to a total of approx. USD 430 million to buy out the partner.
• 6) The Company is conducting a process - in accordance with the Partnership Agreement - regarding the participation of the limited partners in CPV.
• 7) For first full year of operation.

Basin Ranch – Key Project Highlights*

Strategic Location in West Texas (Permian Basin), ERCOT

• The electricity market: accelerated growth in demand and high electricity prices
• Gas market: abundance of extremely low-cost natural gas
• Access to existing infrastructure

Robust Commercial Model

• The project has executed hedging agreements and is expected to reach a total hedging level of up to 75% of the power plant's capacity for a seven-year term from the commercial operation date

Strategic Partnership with Equipment Manufacturer GE Vernova and EPC

• The project signed a major equipment supply agreement with GE Vernova and an EPC agreement
• Construction cost of USD 1.4 million per MW

Highly Attractive Senior Financing Terms From TEF

• A loan for approx. 20 years at a fixed interest rate of 3%
• Loan principal repayments generally begin 3 years after the commercial operation date

Experienced Management Team With Deep Industry Knowledge

OPC Energy's management team has deep experience in the planning, development, construction and operation of power generation assets

Dedicated Management Team

Giora Almogy CEO

Ana Berenstein CFO

Eran Amoyal Deputy CEO & COO

Gary Lambert CPV Co-Founder & Executive Vice Chairman

Nurit Traurik Executive VP General Counsel

Oshrit Suissa Kadosh Executive VP HR

Yoav Goraly Executive VP Operations

Sherman Knight CPV President & CEO

Overview and Experience

• As the first IPP in Israel, OPC is a leading provider of integrated energy solutions
• Led by a dedicated management team with decades of combined experience across energy and finance
• Successful U.S. operations through majority-owned subsidiary CPV
• Supported by 300+ employees from a diversified set of disciplines

Israel

Israel

Israel Market Tailwinds*

Increasing Demand and Electrifying Economy

• Strong and sustained growth in electricity demand driven by rapid population expansion and robust economic growth
• Significant additional demand expected in the coming years as the country accelerates electrification, advances government-mandated energy targets, expands electric transportation, and develops new desalination facilities
• Ambitious national electrification agenda including mandates to phase out sales of new petrol and diesel vehicles – fuelling rapid expansion of EV charging infrastructure and associated power consumption
• Rising need for dispatchable generation to maintain grid stability, balance intermittent renewables, and support Israel's industrial resurgence.

Accelerated Growth in Renewable Energy

• Israel's power sector is undergoing a state-mandated transformation designed to attract private investment and accelerate the shift to clean energy
• In recent years, the growth in installed renewable energy capacity has averaged over 20% annually. In 2024 alone, ~1 GW of renewable energy capacity was connected to the grid. That year, the actual share of electricity consumption from renewable sources stood at 14.6%, while the potential consumption share by the end of the year reached 16.2%⁽¹⁾
• To meet Israel's target of 30% electricity consumption to be produced from renewable energy by 2030, ~9.1 GW of renewable capacity will need to be added⁽¹⁾
• This rapid expansion is underpinned by the signing of new PPAs, providing revenue certainty and encouraging new investment

Total Installed Capacity (GW)(1)

Israel Market Tailwinds (Cont'd)*

Need for Additional Conventional Power Plants(1)

	Need for New Power Plants (>630 MW)
Years	Capacity (GW)	Number of Plants
2031 – 2035	3.2	5
2036 – 2040	5.0	8
Total	8.2	13

Shift to Private Production(2)

• The recent reform in the electricity sector reduced the Israel Electricity Company's (IEC) monopoly in production with the sale of its power plants to private producers
• In July 2024, IEC's monopoly was dissolved, allowing customers to switch their electricity supplier away from the IEC for the first time
• By 2030, the share of private energy generation is expected to grow notably, while the share of the IEC is expected to fall below 23%, driven by construction of conventional power plants and renewable energy generation facilities by private producers

Manufacturing Market Share – Actual Production (%)

¹⁾ Government decision no. 2282 as of 10/31/24 for promoting energy security in the electricity sector in Israel.

²⁾ Electricity Sector Status Report by Israeli Electricity Authority (September 2025).

^*Note: This slide includes forward-looking information, regarding which there is no certainty of materialization. See legal waiver on Slide 2. ¹⁴

Large Pipeline With Several Advanced Projects*

OPC's operating portfolio is expected to grow significantly in the coming years, further supported by numerous advanced projects

Key Projects Targeting NTP in 2026 - 2027

Ramat Beka 505 MW and 2,760 MWh(1)

• Location: Neot Hovav
• Technology: PV + Storage
• Est. Construction Commencement: 2026/2027
• Est. Construction Cost: USD 1.2-1.3 billion (if the capacity is increased: up ~USD 1.6 billion)(2)
• Approval Status: After authorization by the government, the plan is promoted with the National Infrastructures Committee (NIC 175)

Hadera 2 850 MW

• Location: Hadera
• Technology: Combined Cycle
• Est. Construction Commencement: Between June 2026 and June 2027 in accordance with the regulatory scheme
• Est. Construction Cost: USD 1.4-1.5 billion
• Commercial model of energy sales to the system operator and receipt of guaranteed capacity payments for a period of 25 years

Intel 450-650 MW

• Location: Kiryat Gat (Intel facilities)
• Technology: Combined Cycle
• Commercial Model: Supply of electricity to Intel's facilities and remainder to the system operator and receipt of guaranteed capacity payments
• Est. Construction Commencement: 2027
• Est. Construction Cost: USD 1.6-1.8 million per MW
• Approval Status: After authorization by the government, the plan is promoted with the National Infrastructures Committee (NIC 207)

¹⁾ Due to regulation, the Company is considering increasing the Ramat Beka Project's PV capacity to 550 MW and storage capacity up to approximately 3.85 GWh. Note: All construction costs are in USD. Conversion rate of USD/ILS 3.3 applies.

Realizing the Growth Potential

16 1) 2021 and 2022 reflect adjusted EBITDA figures.

U.S. Market Tailwinds*

Accelerating investment in data centers and reshoring of manufacturing is driving unprecedented load growth and creating

tremendous demand for power

Power Infrastructure is a Growth Business…

…as Data Center Demand Rapidly Contributes to Load Growth…

…in Two of the Most Active Power Markets in the U.S.

PJM

• Over the next 10 years, PJM projects summer peak load growth to average 3.1% whereas in 2020 the 10-year CAGR was just 0.6%(3)
• High demand growth and limited supply additions have resulted in record-high capacity prices, most recently clearing at \$329.17/MW-day

ERCOT

• ERCOT's base economic outlook shows rapid growth, forecasting a 5-year demand CAGR of 13.5%(4)
• Widespread electrification trends and data center buildout have been contributing to increased load

The pace of demand growth is outstripping the speed of supply-side response with U.S. power demand accelerating after years of stagnation

Rising investment in data centers and AI is increasing the demand for reliable power as these facilities require significant, continuous loads

PJM and ERCOT have witnessed unprecedented levels of growth, and forecasts predict rapid increases in load

¹⁾ U.S. Energy Information Administration, Electric Power Annual and Annual Energy Outlook 2025.

²⁾ Lawrence Berkeley National Laboratory, 2024 Report on U.S. Data Center Energy Use.

³⁾ PJM 2025 Load Forecast Report.

⁴⁾ ERCOT 2025 Load Forecast Report.

Existing Gas Resources are Well Positioned*

Traditional IPPs and gas-fired generators benefit from a shifting generation mix as accelerated thermal retirements expose the limitations of intermittent renewable power supply

Coal to Gas Switching – A "Dispatchable to Cleaner Dispatchable" Transition

Shift to Renewables – Growing Portion of Supply Mix is Intermittent

Renewables Build-out Has Highlighted Importance of Reliable, Flexible Generation

Decarbonization of Dispatchable Resources

Older and inefficient thermal generators continue to be pushed out of the market due to unit economics paired with more stringent environmental regulations. The retirement of these units creates opportunities for existing reliable, dispatchable generation

Fossil Fuels Exit the Supply Stack(1) Deployment of Renewables is Accelerating(2)

(Power Generation by Fuel Source; Billions of kWh)

¹⁾ U.S. Energy Information Administration, Preliminary Monthly Generator Inventory (September 2025).

²⁾ U.S. Energy Information Administration, Annual Energy Outlook 2025.

³⁾ Other includes pumped storage, hydrogen distributed generation and petroleum.

^*Note: This slide includes forward-looking information, regarding which there is no certainty of materialization. See legal waiver on Slide 2.

Strong Tailwinds from the Business Environment*

Record capacity prices and high forecasted spark spreads for CPV's active gas portfolio create an attractive environment for OPC Energy and are expected to continue driving growth

The record price of \$329 / MW-Day in the 2026/2027 auction, up 22% from \$270 / MW-Day in the previous auction, is expected to add ~\$18 million to CPV's capacity revenues

CPV Natural Gas Projects (With Potential for Carbon Capture) Development Pipeline*

Continuing with the company's tradition of power technology innovation, CPV is focusing significant effort on development of a portfolio of gas-fired facilities with potential for carbon capture capabilities to accelerate decarbonization and enhance reliability of the power sector in the U.S.

CPV's CCGT pipeline (with potential for carbon capture) currently includes four projects, totalling 6.4 GW in generating capacity (net 5.3 GW CPV-owned capacity), with the inaugural Basin Ranch project now under construction. Walker

Pipeline Portfolio Highlights Portfolio Geographic Footprint

CPV Low Carbon Pipeline Portfolio Overview

Project	State	ISO	Status	Capacity (MW)	CPV Ownership Stake (%)	CPV-Owned Capacity (MW)
Basin Ranch Energy Center	TX	ERCOT	Under Construction	1,350	70%(1)	945
Shay Energy Center	WV	PJM	Early Development	2,100	70%	1,470
Oregon Energy Center	OH	PJM	Early Development	1,450	100%	1,450
Walker Energy Center	OH	PJM	Early Development	1,450	100%	1,450
Total				6,350		5,315

Strong Growth Over the Years

EBITDA (ILS Million)(1)

Introduction to OPC Israel U.S. – Competitive Power Ventures Financials Key Investment Highlights Appendix

Financials

Israel

Strong Financial Position With Successful Track Record of Equity Issuance

Demonstrated History of Successful Equity Issuance in the Sum of ILS 6.2 Billion

Robust Growth Trajectory

¹⁾ 2021 and 2022 reflect adjusted EBITDA figures.

²⁾ Represents growth in consolidated EBITDA after proportionate consolidation from the nine months ended September 30 for 2024 and 2025.

³⁾ As of November 23, 2025.

⁴⁾ Reflects total equity attributable to the Company's shareholders plus non-controlling interests over total assets as of September 30, 2025.

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Debt and Financial Profile

Initial rating by Midroog: 'A1.il' for the Company and its debentures, with a stable outlook. Upgraded rating by S&P Maalot: The Company's rating was upgraded to 'ilA', and the debentures' rating was upgraded to 'ilA+', both with a stable outlook

Refinancing completed for U.S. power plants in 2024/25 resulted in improved interest rate spreads(1) and net cash flow after debt service

Various sources of liquidity that guarantee flexibility and favor continued growth investments

Well-diversified debt mix with balanced inflation and interest-rate exposure

Robust Financial Profile Net Financial Debt and Leverage Ratio (ILS million)

Headquarters (Company and U.S.) Israel U.S. Renewable Energy U.S. Energy Transition

2) The amount includes ILS 1,810 million in cash, primarily resulting from equity issuances in June and August 2025.

¹⁾ Interest rate spreads for Towantic and Fairview were 3.25% and 2.5%, respectively. For Shore, the 3.75% spread remained unchanged.

Key Investment Highlights

Key Investment Highlights

IPP with strong development capabilities

Diversified energy streams across technologies and geographies

Large pipeline with significant advanced and derisked projects

Robust financial position that can support growth through attractive financing options

Experienced management team with deep industry knowledge

Appendix

Company Structure and Business Segments

3.6 GW operating projects and significant growth pipeline

¹⁾ Remaining 20% is held by Veridis Environment Ltd.

²⁾ Remaining 30% is held by Israeli financial investors.

³⁾ In November 2024, Harrison Street acquired a 33.3% stake in CPV Renewables.

Portfolio Overview*

Portfolio Highlights

OPC plans, develops, constructs and operates power generation across the country, currently managing a ~1.1 GW operating portfolio in Israel

OPC Israel highlights:

• Produces and supplies electricity to both private customers and to the Israel System Operator
• Sells electricity to leading customers through long-term contracts

OPC Portfolio Overview
Project	Technology	Status COD / Construction Start		Capacity	OPC Israel(1) Stake (%)
Rotem	Natural Gas, Combined Cycle	Operating	2013	466 MW	100%
Hadera	Natural Gas, Cogeneration	Operating	2020	144 MW	100%
Zomet	Natural Gas, Open Cycle	Operating	2023	396 MW	100%
Gat	Natural Gas, Combined Cycle	Operating	2019	75 MW	100%
Sorek 2	Natural Gas, Cogeneration	Under Construction	Q4 2025	87 MW	100%
Energy Generation Facilities	Natural Gas, Solar, Storage	Under Development	2024/2025	57 MW	100%
Hadera 2	Natural Gas, Combined Cycle	Advanced Development	2026/2027	850 MW	100%
Ramat Beka	Solar, Storage	Advanced Development	2026/2027	505 MW + 2,760 MWh	100%
Intel	Natural Gas, Combined Cycle	Early Development	2027	450–650 MW	100%
Solar and Storage Projects	Solar, Storage	Early Development	-	365 MW + 1,835 MWh	100%
Total				~3,500 MW

1) OPC Energy owns 80% of OPC Israel.

*Note: This slide includes forward-looking information, regarding which there is no certainty of materialization. See legal waiver on Slide 2.

CPV Natural Gas-Fired Generation Operating Portfolio

CPV is a leading developer and operator of gas-fired generation facilities in the U.S., with a track record of 6+ GW developed, constructed and operating gas-fired project capacity and a current operating fleet of 5.3 GW (2.2 GW net CPV-owned capacity)

CPV CCGT operating portfolio highlights:

• CPV's 6 project CCGT fleet has earned recognition from a variety of industry publications with awards for development, project financing and operational best practices
• Each project is strategically sited with reliable access to adjacent gas pipelines and interconnection into high-demand transmission corridors
• Actively scaling up by acquiring equity interests from some of our partners

Operating Portfolio Highlights Portfolio Geographic Footprint

CPV CCGT Operating Portfolio Overview

Project	State	ISO	COD Year	Capacity (MW)	CPV Ownership Stake (%)	CPV-Owned Capacity (MW)
Shore	NJ	PJM	2016	725	89%(1)	644
Maryland	MD	PJM	2017	745	75%	559
Towantic	CT	ISO-NE	2018	805	26%	209
Valley	NY	NYISO	2018	720	50%	360
Fairview	PA	PJM	2019	1,050	25%	263
Three Rivers	IL	PJM	2023	1,258	10%	126
Total				5,303		2,161

Renewable Operating and Development Portfolio Overview*

Operating / Development Portfolio Highlights Portfolio Geographic Footprint

Portfolio highlights:

• 0.8 GW total operating and under construction capacity with revenue offtake secured (0.5 GW net CPV-owned capacity)
• 0.3 GW in advanced development (0.2 GW net CPV-owned capacity)
• Diversified generation mix from 6 individual projects across five states (three RTO regions)

Driven by supportive market backdrop:

• Customers' environmental goals are driving demand and willingness to pay higher PPA prices
• Renewable demand in premium locations vastly out-strips supply
• Renewable Energy Credits pricing across states in PJM and ISO-NE are highly accretive and are expected to remain strong moving forward due to tight market conditions

CPV Renewables Operating / Development Portfolio Overview

Project	State	ISO	Technology	Status	COD	Capacity (MW ) DC	CPV Ownership Stake (%)	CPV-Owned(1) Capacity (MW ) DC
Keenan II	OK	SPP	Wind	Operating	2010	152	66.7%	101
Mountain	ME	ISO-NE	Wind	Operating	2008 – 2017	82	66.7%	54
Maple Hill	PA	PJM	PV	Operating	2023	126	66.7%	84
Stagecoach	GA	SERC	PV	Operating	2024	102	66.7%	68
Backbone	MD	PJM	PV	Under Construction	Q4 2025(2)	179+36	66.7%	119+24
Rogue's Wind	PA	PJM	Wind	Under Construction	H1 2026	114	66.7%	76
Advanced Development Pipeline	-	-	PV	Advanced Development	-	240	66.7%	160
Early Development Pipeline	-	-	Wind & PV	Early Development	-	3,710	66.7%	2,475
Total						4,741		3,161

¹⁾ All projects are presented using the proportionate consolidation method in accordance with CPV's holding stake. Harrison Street owns a 33.3% stake in CPV Renewables.

²⁾ As of the Q3 2025 report approval date, an expansion of the project totaling 36 MW has commenced construction, with commercial operation expected in H2 2026.

Thank You!