Ellomay Capital Ltd. Announces Halt of Construction in the Pumped Storage Site at the
Manara Cliff, Israel
Ellomay Capital Ltd. (the “Company”), today announced that due to the recent hostilities and
tensions in northern Israel in recent days following the commencement of the War in Israel,
construction works in the site of the Company’s pumped storage project in the Manara Cliff, Israel
were halted. Planning works continue without interruption.
At this stage, the Company does not expect a material impact on the timeline for construction of the
project. The Company cannot at this time predict the duration and extent of the hostilities or their
impact on the Company. If hostilities were to worsen or continue for a prolonged period, or in the
event of damage to the construction works already performed, it could have a material adverse impact
on the project and the Company’s operations.
Information Relating to Forward-Looking Statements
This report contains forward-looking statements that involve substantial risks and uncertainties,
including statements that are based on the current expectations and assumptions of the Company’s
management. All statements, other than statements of historical facts, included in this report regarding
the Company’s plans and objectives, expectations and assumptions of management are forwardlooking statements. The use of certain words, including the words “estimate,” “project,” “intend,”
“expect,” “believe” and similar expressions are intended to identify forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not
actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and
you should not place undue reliance on the Company’s forward-looking statements. Various
important factors could cause actual results or events to differ materially from those that may be
expressed or implied by the Company’s forward-looking statements, including escalation and
continuation of the military conflicts in Israel, changes in electricity prices and demand, extension of
current or approval of new rules and regulations increasing the operating expenses of manufacturers
of renewable energy in Spain, increases in interest rates and inflation, changes in the supply and prices
of resources required for the operation of the Company’s facilities (such as waste) and in the price of
oil, the impact of continued military conflict between Russia and Ukraine, technical and other
disruptions in the operations or construction of the power plants owned by the Company and general
market, political and economic conditions in the countries in which the Company operates, including
Israel, Spain, Italy and the United States. These and other risks and uncertainties associated with the
Company’s business are described in greater detail in the filings the Company makes from time to
time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The
forward-looking statements are made as of this date and the Company does not undertake any
obligation to update any forward-looking statements, whether as a result of new information, future
events or otherwise.