Opc Energy Ltd. — M&A Activity 2026

May 13, 2026

Unofficial English translation for convenience purposes only. The complete and binding report is the official Hebrew report published by the Company on the Tel Aviv Stock Exchange website. In case of any discrepancy, the official Hebrew report in Hebrew shall prevail.

This unofficial translation does not constitute an offer, advice or invitation to make any transaction in the Company's securities.

Re: CPV Group – Closing of Transaction for the Acquisition of the Remaining Rights in CPV Maryland and the Sale of the Rights in CPV Three Rivers

Further to the Company's filing dated March 3, 2026 and Note 23(e)(2) to the Company's financial statements for the year 2025, which were attached and section 8.1.1.5a3 in chapter A to the Company's annual report for 2025, dated March 12, 2026 (ref.no: 2026-01-019244 and 2026-01-021904, respectively) incorporated herein by reference (together, the “Previous Report”), in connection with an agreement between CPV Group and the remaining partner in CPV Maryland (the “Partner”), to carry out a transaction whereby in exchange for the Partner’s holdings in CPV Maryland power plant (25%), CPV Group would transfer to the Partner its rights in CPV Three Rivers power plant (10%) in addition to an immaterial cash amount, the Company reports that on May 12 2026, the transaction was completed following the satisfaction of the conditions precedent (the “Closing Date”). Accordingly, as of the Closing Date, CPV Group (which is approximately 70% indirectly owned by the Company) holds 100% of CPV Maryland, and no longer holds CPV Three Rivers.

As mentioned in the Previous Report, as of the Closing Date, CPV Maryland will be consolidated in CPV Group's financial statements and, as a result, in the Company's financial statements. Based on the Company's assessment of the accounting treatment arising from the foregoing as of the date of this report, the acquisition of the remaining stake in CPV Maryland power plant will be accounted for as an asset acquisition and accordingly no gain from remeasurement is expected to be recognized as a result of the change from equity-accounting method to consolidation of CPV Maryland. However, the amounts which are included in the OCI of CPV Maryland as of the Closing Date (mainly related to application of hedge accounting for energy margin and interest rate), are expected to be reclassified into Profit and Loss (as of the date of this immediate report, the amount is estimated at a loss of approximately 28 USD 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 that is estimated as of the date of this report, in approximately USD 7 million (after adjustments for distributions).

It is noted that the foregoing estimated effects of accounting and tax may change upon completion of the Company's examination and are subject to the review of the Company's auditors.