The following is an excerpt from the full earnings release. For the full release, visit https://enlightenergy.com/wp-content/uploads/2026/11/3Q26-Earnings-Release-Eng.pdf

All of the amounts disclosed in this press release are in U.S. dollars unless otherwise noted

TEL AVIV, ISRAEL, November 3, 2026 – Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT) today reported financial results for the quarter ended September 30, 2026. Registration links for the Company’s earnings English and Hebrew conference call and webcasts can be found at the end of this earnings release.

Financial Highlights

3 months ending September 30, 2026

• Total revenues and income¹ of $231 million, an increase of 40% compared to the same period last year.
• Net income of $34 million, compared to $32 million in the same period last year. Excluding one-time items, net income increased by 76%.
• Adjusted EBITDA² of $154 million, compared to $112 million in the same period last year, an increase of 38%.
• Cash flow from operating activities³ of about $104 million, an increase of 26% compared to the same period last year.

9 months ending September 30, 2026

• Total revenues and income of $641 million, an increase of 49% compared to the same period last year.
• Net income of $103 million, compared to $140 million in the same period last year. Excluding a gain of approximately $81 million recorded in the corresponding period as a result of the sale of 44% of the Sunlight portfolio and the resulting loss of control, as well as other one-time items, net income increased by approximately 122%.
• Adjusted EBITDA of $468 million, compared to $339 million in the first nine months of 2025, an increase of 38%. Excluding a $42 million gain from the sale of 44% of the Sunlight portfolio in the first half of 2025 and a gain of approximately $30 million from subsequent sales of approximately 26% of the Sunlight portfolio in the first half of 2026, Adjusted EBITDA for the first nine months of 2026 increased by 48% compared with the corresponding period last year.
• Operating cash flow of $289 million, an increase of 39% compared with the corresponding period last year.

2026 guidance raised

• The Company is raising and narrowing its guidance range for 2026. Revenues & income⁴ are expected to range between $810 million and $830 million, compared with the previous guidance range of $790 million to $820 million.
• Adjusted EBITDA guidance increased to $575 to $590 million, up from $565 to $585 million previously.
• The guidance increase primarily reflects operating results for the first nine months, electricity trading activity in Israel and higher electricity prices in Europe.

Summary of key financial results

Adi Leviatan, CEO of Enlight Renewable Energy: “We conclude another quarter of strong growth and consistent execution, with total revenue and income increasing by 40%, Adjusted EBITDA increasing by 38%, and cash flow from operating activities of $289 million in the first nine months of the year. In Europe, we are benefiting from higher electricity prices and continue to expand our energy storage activity with additional projects that generate double-digit project-level returns. In the U.S., all five phases of the approximately 2.4 FGW CO-Bar complex are now under construction following the closing of the largest financing transaction in the Company’s history, and we continue to expand our presence in markets east of WECC. Our strong results, solid balance sheet and growing cash flow provide a solid foundation for continued growth and enable us to raise our 2026 guidance once again.”

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¹Total revenues and income include revenues from the sale of electricity, as well as income from tax benefits from U.S. projects  

²Adjusted EBITDA is a non-IFRS measure. Please refer to the appendices for the reconciliation to net income. The Company is unable to provide a reconciliation of “Adjusted EBITDA” to net income on a forward-looking basis without unreasonable effort because items that impact this IFRS financial measure are not within the Company’s control and/or cannot be reasonably predicted

³Interest payments and receipts are classified as cash flows from financing and investing activities, respectively, instead of cash flows from operating activities. Adjustments were made to comparative figures due to a change in accounting policy; for further details, see Appendix No. 4

⁴Total revenues and income include revenues from the sale of electricity along with income from tax benefits from US projects amounting to $160-180m.