Opc Energy Ltd. — M&A Activity 2026

May 13, 2026

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer. .

OPC Energy Ltd.

("the Company")

May 13, 2026

To

Israel Securities Authority

www.isa.gov.il

To

The Tel Aviv Stock Exchange Ltd.

www.tase.co.il

Subject: CPV Group - Completion of transaction for the acquisition of the remaining rights in the CPV Maryland power plant and sale of the

rights in the CPV Three Rivers power plant

Further to the Company's report dated March 3, 2026, and to Note 23E2 and Section 8.1.1.5A3 in Chapter A of the Periodic report to the financial statements of the Company for the year 2025, which were attached to the Company's Periodic report dated March 12, 2026 (Reference Nos: 2026-01-019244 and 2026-01-021904, respectively) which are hereby included by way of reference (together: the "Previous Report"), regarding the agreement between CPV Group and the remaining partner in CPV Maryland (the "Partner"), for the execution of a transaction whereby, in consideration for the Partner's holdings in the CPV Maryland power plant (25%), CPV Group will transfer to the Partner its rights in the CPV Three Rivers power plant (10%), as well as a non-material cash amount, the Company updates that on May 12, 2026, the transaction was completed, following the fulfillment of the conditions precedent (the "Closing Date"). Accordingly, as of the Closing Date, CPV Group (which is held approximately 70% indirectly by the Company) holds 100% of the CPV Maryland power plant and no longer holds the CPV Three Rivers power plant.

As stated in the Previous Report, as of the date of completion of the transaction, CPV Maryland will be consolidated in the financial statements of CPV Group and, as a result, in the financial statements of the Company. Based on the Company's assessment regarding the accounting treatment arising from the above as of the date of this report, the acquisition of the remaining holdings in the CPV Maryland power plant will be treated as an asset acquisition, and accordingly, no gain from revaluation is expected to be recognized as a result of the transition from an investment treated under the equity method to the consolidation of CPV Maryland. However, amounts included in Other Comprehensive Income (OCI) of CPV Maryland, as of the date of completion of the transaction (mainly in connection with the application of hedge accounting for energy margins and interest rates), are expected to be reclassified to the profit and loss statement (as of the date of the immediate report, the amount is estimated as a loss of approximately USD 28 million). In addition, as a result of the sale of the Three Rivers power plant, upon completion of the transaction, CPV Group is expected to recognize a capital gain (net of tax) in an amount estimated, as of the date of this report, at approximately USD 7 million (after adjustments for distributions).

It should be noted that the assessments of the aforementioned accounting and tax implications may change upon completion of the Company's examination and are subject to the review of the Company's auditing accountants.

Sincerely,

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This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

OPC Energy Ltd.

By: Giora Almogi, CEO

and Anna Bernstein, CFO

5/13/2026 | 5:13:27 AM