- On **September 14, 2025**, the **Dorad Energy Ltd. Board of Directors approved the planning and execution of the "Dorad 2 Project"**, which involves constructing an additional turbine at Dorad's current power plant.  **[946394_0001213900-25-087642_ea0257385-6k_ellomay.htm:1]** 
- The Dorad Board also approved a **budget for the project until financial closing** and authorized management to **negotiate a production slot agreement with a turbine manufacturer**.  **[946394_0001213900-25-087642_ea0257385-6k_ellomay.htm:1]** 
- **Ellomay Capital Ltd. indirectly holds 16.875% of Dorad's share capital** through its 50% holdings in Ellomay Luzon Energy Infrastructures Ltd..  **[946394_0001213900-25-087642_ea0257385-6k_ellomay.htm:1]** 
- This board resolution was preceded by an **amendment to Dorad's articles of association**, requiring the project's approval with a **70% majority of participating directors**.  **[946394_0001213900-25-087642_ea0257385-6k_ellomay.htm:1]**

Ellomay Capital's Dorad Energy Board Approves Dorad 2 Project

- Ellomay Capital Ltd. will hold its annual general meeting of shareholders on **October 23, 2025**, at 3:00 p.m. Israel time, with the record date for voting set for **September 18, 2025**.  **[946394_0001213900-25-087050_ea025696001ex99-1_ellomay.htm:0]** **[946394_0001213900-25-087050_ea025696001ex99-2_ellomay.htm:0]** 
- Shareholders will vote on the **reelection of four directors**: Ben Sheizaf, Ran Fridrich, Anita Leviant, and Ehud Gil.  **[946394_0001213900-25-087050_ea025696001ex99-1_ellomay.htm:0]** **[946394_0001213900-25-087050_ea025696001ex99-2_ellomay.htm:0]** 
- A key proposal includes increasing the authorized share capital from **NIS 170,000,000 (17,000,000 ordinary shares)** to **NIS 300,000,000 (30,000,000 ordinary shares)**, par value NIS 10.00 per share, to provide flexibility for future business needs and capital raising.  **[946394_0001213900-25-087050_ea025696001ex99-1_ellomay.htm:0]** **[946394_0001213900-25-087050_ea025696001ex99-2_ellomay.htm:0]** **[946394_0001213900-25-087050_ea025696001ex99-2_ellomay.htm:12]** 
- The meeting will also address the approval of **updated employment terms and a bonus for Asaf Nehama**, including a proposed monthly salary increase to **NIS 29,000** (approximately **$8,700**) effective **October 1, 2025**, and a **NIS 58,000** bonus for fiscal year 2024.  **[946394_0001213900-25-087050_ea025696001ex99-1_ellomay.htm:0]** **[946394_0001213900-25-087050_ea025696001ex99-2_ellomay.htm:0]** **[946394_0001213900-25-087050_ea025696001ex99-2_ellomay.htm:18]**

Ellomay Capital Ltd. Announces 2025 Annual General Meeting Agenda

- Dorad Energy Ltd. reported revenues of approximately **NIS 566.8 million** and operating profit of approximately **NIS 56.9 million** for the three months ended June 30, 2025.  **[946394_0001213900-25-082887_ea025543401ex99-1_ellomay.htm:0]** 
- Ellomay Capital's indirect ownership in Dorad Energy increased to approximately **16.9%** as of July 22, 2025, after Ellomay Luzon Energy acquired an additional **15%** of Dorad's share capital for approximately **NIS 424 million**.  **[946394_0001213900-25-082887_ea025543401ex99-1_ellomay.htm:0]** **[946394_0001213900-25-082887_ea025543401ex99-2_ellomay.htm:9]** 
- Dorad's revenues in **June 2025** decreased by approximately **22%** compared to the prior year due to the "Rising Lion" military operation, with the long-term impact currently unassessable.  **[946394_0001213900-25-082887_ea025543401ex99-1_ellomay.htm:1]** **[946394_0001213900-25-082887_ea025543401ex99-2_ellomay.htm:5]** 
- Legal proceedings are ongoing, with Edelcom challenging the transfer of 7.5% of Dorad's shares to Ellomay Luzon Energy, and a preliminary hearing scheduled for **September 25, 2025**.  **[946394_0001213900-25-082887_ea025543401ex99-2_ellomay.htm:4]**

Ellomay Capital Reports Dorad Energy Q2 2025 Financials and Increased Stake

- Ellomay Capital reported the financial results of Dorad Energy Ltd. for the three and six months ended **June 30, 2025**.  **[946394_b6576f4fccdf44a9b5691535d3587f2f_0]** 
- Ellomay's indirect ownership in Dorad increased to **approximately 16.9%** as of **July 22, 2025**, after Ellomay Luzon Energy acquired an additional **15%** stake.  **[946394_b6576f4fccdf44a9b5691535d3587f2f_0]** 
- For the three months ended **June 30, 2025**, Dorad's revenues were approximately **NIS 566.8 million** and operating profit was approximately **NIS 56.9 million**.  **[946394_b6576f4fccdf44a9b5691535d3587f2f_0]** **[946394_b6576f4fccdf44a9b5691535d3587f2f_6]** 
- Dorad reported a **loss** for the quarter, largely due to a **NIS 72.7 million** increase in financing expenses from exchange rate differences, and its **June 2025** revenues decreased by **22%** year-over-year, partly due to a military operation.  **[946394_b6576f4fccdf44a9b5691535d3587f2f_1]** **[946394_b6576f4fccdf44a9b5691535d3587f2f_6]** 
- Dorad noted that the Q2 2025 results are **not indicative of full year results** due to seasonal electricity demand.  **[946394_b6576f4fccdf44a9b5691535d3587f2f_2]**

Ellomay Capital (ELLO)