ORA Q1 2025 Earnings Presentation

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2COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. SAFE HARBOR STATEMENT AND NON-GAAP METRICS FORWARD-LOOKING STATEMENTS This presentation, and information provided during any discussion accompanying this presentation, may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve estimates, expectations, projections, goals, objectives, assumptions and risks, and activities, events and developments that may or will occur in the future. When used in or during the course of this presentation, the words “may”, “will”, “could”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “thinks”, “forecasts”, “guidance”, “continue”, “goal”, “outlook”, “potential,” “prospect” or “target”, or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. Such forward-looking statements include, but are not limited to: statements about Ormat Technologies, Inc.’s and its affiliates’ (“Ormat”) business strategy; statements about Ormat’s competitive strengths; statements about Ormat’s development and operation of electricity generation, storage and energy management assets, including distributed energy resources; statements about Ormat’s other plans, expectations, objectives and targets; statements about Ormat’s views on market and industry developments and economic conditions, and the growth of the markets in which Ormat conducts its business; and statements about the growth and diversification of Ormat’s customer base and Ormat’s future revenues, expenses, earnings, capital expenditures, regional market penetration, ability to capitalize on increased demand, electricity generation, and other operational performance metrics, including statements about “target” or “targeted” amounts for 2028 growth (MW) metrics such as growth (MW), adjusted EBITDA, portfolio growth and potential and planned capacity (MW), and statement regarding Ormat’s ESG plans, initiatives, projections, goals, commitments, expectations or prospects, among others. All of these and other forward-looking statements made in or during the course of this presentation are made only as of the date hereof and Ormat undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. Forward-looking statements about “target” or “targeted” amounts represent current goals of Ormat’s management and are neither estimates of Ormat’s actual results nor financial projections or forecasts that have been prepared in accordance with Securities and Exchange Commission (“SEC”) rules or guidelines adopted by the American Institute of Certified Public Accountants. These forward-looking statements are not intended to be a guarantee of future results, but instead constitute Ormat’s current expectations based on assumptions that Ormat currently believes are reasonable. You are cautioned not to place undue reliance on the expectations, projections and other forward-looking statements made in or during the course of this presentation as actual future results and developments may differ materially from such expectations, projections and forward-looking statements due to a number of risks, uncertainties and other factors, many of which are beyond Ormat’s control. These risks, uncertainties and other factors include, but are not limited to, the risks, uncertainties and other factors described in Ormat Technologies, Inc.'s most recent Form 10-K and in subsequent filings filed with the SEC. NON-GAAP METRICS RECONCILIATION TO US GAAP FINANCIAL INFORMATION This presentation includes certain “non-GAAP financial measures” within the meaning of Regulation G under the Securities Exchange Act of 1934, as amended, including EBITDA and Adjusted EBITDA. The presentation of these non-GAAP financial measures is not intended as a substitute for financial information prepared and presented in accordance with GAAP and such non-GAAP financial measures should not be considered as a measure of liquidity or as an alternative to cash flow from operating activities, net income or any other measures of performance prepared and presented in accordance with GAAP. Such non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The appendix slides in this presentation reconcile the non-GAAP financial measures included in the presentation to the most directly comparable financial measures prepared and presented in accordance with U.S. GAAP. The Company is unable to provide a reconciliation for its Adjusted EBITDA projections range to net income without unreasonable efforts due to high variability and complexity with respect to estimating certain forward-looking amounts. These include impairments and disposition and acquisition of business interests, income tax expense, and other non-cash expenses and adjusting items that are excluded from the calculation of Adjusted EBITDA. Copyright © 2025 Ormat Technologies, Inc. All Rights Reserved. This document contains information proprietary to Ormat Technologies, Inc. Reproduction in any form without prior written permission is strictly prohibited THIS PRESENTATION INCLUDES FORWARD-LOOKING STATEMENTS, AND THE DISCLAIMER SHOULD BE READ CAREFULLY

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3COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Q1 2025 EARNINGS CALL AGENDA Remaining committed to a sustainable future Delivering strong financial performance 01 Increasing our portfolio 02 Advancing profitable growth 03 04

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4COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Signed an agreement to purchase 20MW Blue Mountain geothermal power plant from Cyrq Energy for $88M Headwinds in the Electricity segment from curtailments in U.S. projects Revenues grew by approx. 120% Backlog stands at $314 million BUSINESS HIGHLIGHTS 23MW was added in the first quarter 2025 ELECTRICITY PRODUCTSTORAGE Higher East Coast merchant prices Limited impact on 2025 & 2026 on operation +6.4% Record quarterly EBITDA COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. 4 Ijen, Indonesia 17MW1 No material impact is expected on the short term from the new import tariffs. +4.6% Net income attributable to the Company’s stockholders +2.5% Revenues Contribution from Beowawe upgrade Improved margins for Q1 and FY Improved margins for Q1 and FY

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6COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Revenues $229.8M +2.5% Gross Margin 31.7% -350 bps Adjusted EBITDA(1) $150.3M +6.4% EPS/Adj. EPS $0.66/$0.68 +3.1% / +4.6% Electricity $180.2M (5.8)% Products $31.8M +27.9% Storage $17.8M +119.7% SOLID FINANCIAL PERFORMANCE Q1 2025 Q1 2025 Highlights Revenue by segment (1) For key financial results and non –GAAP financial measures reconciliation please see the appendix slides. (2) EPS refers to earnings per diluted share (3) Net income attributable to the Company's stockholders for Q1 2025 was $40.4M compared to $ 38.6M in Q1 2024. Adjusted net income attributable to the Company's stockholders for the Q1 2025 was $41.5M compared to $ 39.6M in Q1 2024. 78% Electricity 14% Products 8% Storage Comparison vs Q1 2024

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7COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Total 31.7% -350 bps Electricity 33.5% -550 bps Products 22.3% +750 bps Energy Storage 30.6% +2,310 bps Total $150.3M +6.4% Electricity $125.6M (3.9)% Products $10.1M +48.3% Energy Storage $14.6M +289.0% SOLID FINANCIAL PERFORMANCE Q1 2025 Gross Margin by segment (1) For key financial results and non –GAAP financial measures reconciliation please see the appendix slides. Adjusted EBITDA 1 by segment 83% Electricity 7% Products 10% Storage Comparison vs Q1 2024

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8COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. REGULATORY BOOST FINANCIAL IMPACT OF IRA Q1 2025 2025 outlook Expecting $46 million benefit on an annual basis that will be recorded proportionally throughout the year and is expected to resulted in an annual tax rate 2 benefit of 5% to 10%. Expecting approx. $1601 million on annual basis for both tax equity transactions and PTC/ITC transfers. Income attributable to sale of tax benefits ($M) Benefit under Income tax (provision) Benefit under Income tax ($M) $13.9 million of ITC was recorded in Q1 2025 Cash proceeds from tax benefits (1) Heber complex tax equity transaction of approximately $85 million, cash ITC of approx. $60 million and PTC transfer of approx. $15 million. (2) Tax rate excludes any changes in law and/or one-time events 13.1 10.3 4.4 7.3 Q1 2024 Q1 2025 Transferable PTC Tax benefits related to tax equity transaction $17.6$17.5

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9COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Dec. 31, 2024 March 31, 2025 $200 Cash from operating activities $15 Investment in NC $58 Debt Repayment $206 Proceeds from Debt raises, net $192 $225 Dividend $88 Non- Controlling & Others $7 $10 CASH AND NET DEBT Cash and cash equivalents and restricted cash and cash equivalents ($M) Net debt1 ($M) 4.79% Weighted average interest rate on our total debt portfolio (1) For key financial results and non –GAAP financial measures reconciliation please see the appendix slides (2) Includes $24million for maintenance CapEx. (3) $200M corporate debt with a total average interest rate of 6.70% Successfully raised $200M of new debt in Q1 2025 3 $2,217 $2,338 Dec. 31, 2024 March 31, 2025 $7 Others Investment in CapEx (2)

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10COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. MAINTAINING A STRONG CAPITAL POSITION TO SUPPORT ACCELERATED GROWTH (1) For details on CapEx please see appendix slides (2) For key financial results and non–GAAP financial measures reconciliation please see the appendix slides (3) Cash, cash equivalents, restricted cash and available lines of credit as of March 31, 2024 47% Net debt to capitalization2 4.2x Net debt to Adj. EBITDA2Access to multiple sources of liquid capital $419M Expected CapEx for Q2-Q4 20251 $690.6M Total liquidity3 10COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC.

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12COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. ELECTRICITY OPERATION 40MW Guatemala 954MW2 U.S. 30MW Honduras 15MW Guadeloupe 150MW Kenya 59MW1 Indonesia Robust and balanced portfolio 1 2 3 4 6 5 1 2 3 4 5 6 (1) Include Ormat’s 12.75% share in Sarulla complex and 49%share in Ijen complex (2) Includes 128MW of Solar PV and 50MW of REG (3) Total Project capacity 35MW Global portfolio reached 1,248MW 1,2 168MW Expected COD by Year-End 2026 • 112MW Geothermal • 56MW Solar PV 23MW Commenced operation: • Ijen- 17MW(3) • Beowawe solar PV - 6MW 250MW PPAs under negotiation with hyperscalers at rates above $100/MWh Minimal impact of new tariff on the Electricity operations 15MW signed a 10-year new PPA with Calpine Energy Solutions for Mammoth 2

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13COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. The power plant has a PPA with NV Energy until 2029 Signed an agreement to acquire 20MW Blue Mountain geothermal power plant from Cyrq Energy for $88M1 Due to maintenance work on the NV Energy transmission line ELECTRICITY OPERATION UPDATES Puna, Hawaii 01 Blue Mountain acquisition 0302 Continued curtailment Maintenance work on one of the wells Expected to impact Q2 2025 (1) Subject to standard working capital adjustments Planning to add 3.5MW by 2027 potential 13MW Solar facility, subject to PPA approval Puna, Hawaii, 38MW

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14COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. PRODUCT BACKLOG 3RD PARTY CONTRACTS ~$314M Backlog1 142% Increase vs. Q1 2024 (1) Backlog as of May 6th, 2025. The backlog Includes revenues for the period between April 1st, 2025, and May 6th, 2025 (2) Other includes Turkey, USA, IL, Indonesia etc. 78% 10% 3% 6% 3% New Zealand Dominica Guatemala Portugal Others 2 Geographic Breakdown Salak, Indonesia, 15MW $31 $54 $148 $152 $340 314 Q4'20 Q4'21 Q4'22 Q4'23 Q4'24 Q1'25 Backlog ($M) COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. 14

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15COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. $4.8 $11.9 $3.1 $5.7 $0.2 $0.2 Q1 2024 Q1 2025 $5.8 $12.6$2.3 $5.2 Q1 2024 Q1 2025 $8.1 $17.8 ENERGY STORAGE OPERATION 120MW/120MWh East Coast1 2MW/5MWh VT 33MW/33MWh TX 135MW/500MWh CA 290MW/658MWh 1 2 3 4 Current operating portfolio Storage revenues breakdown ($M) by type and region Merchant Fixed 1) East coast market includes PJM, ISO-NE, NYISO and SERC (1) East Coast market includes PJM (2) First Storage Facilities Outside the U.S. East Coast California Texas 30.6% Gross margin increased by +2,310 bps vs. Q1 2024 1 150MW/600MWh2 Won a tender for two projects in Israel +148% PJM increase +120% Total increase

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17COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. YE'23 Current 2028E Geothermal Solar Storage INSTALLED CAPACITY GROWTH 14%-16% CAGR 1.5GW 2.6GW-2.8GW ROBUST GROWTH PLAN1 (1) This growth plan is subject to obtaining all permits and regulatory approvals required as well as completing the development and construction of these power plants as planned. (2) Change in MW growth in 2028 is compared to a 1,248MW Geothermal & Solar portfolio and a 290 MW storage portfolio in YE 2024 Significantly increase geothermal & solar capacity Accelerate storage capacity to establish leading position in the U.S. storage sector Electricity (MW) +402-5022 Storage (MW) +660-7602 Additional capacity VS. 2024 17COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. 1.3GW +20% Storage (MW) +120 Electricity (MW) +133

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18COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. GEOTHERMAL DEVELOPMENT Project Projected Capacity (MW) Expected COD PPA Indonesia – Ijen 17(1) Q1 2025 ✓ Blue Mountain – New M&A 20 End of Q2 2025 ✓ New Zealand – Topp 2 50 Q4 2025 ✓ Still Water – upgrade 5 H2 2025 ✓ Dominica 10 End of 2025 ✓ Salt Wells 5 Q1 2026 ✓ Guadeloupe- Bouillante 10 Q2 2026 ✓ Cove Fort – upgrade 7 H1 2026 ✓ Guatemala – Zunil 5 2026 ✓ Blue Mountain expansion – New M&A 3.5 2027 ✓ U.S – Dixie Meadows 12 Suspended ✓ Under development: 116 MW from 8 projects 18COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Ijen, Indonesia 17 MW1 We have secured safe harbor for all geothermal projects in the US until 2028 (1) Ormat’s share Commercial operation was completed

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19COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Project Projected Capacity (MW) Expected COD PPA U.S. – Beowawe Solar 6 Q1 2025 ✓ U.S. – Arrowleaf 42 Q4 2025 ✓ U.S. – McGinness Hills Solar 14 End of 2026 ✓ SOLAR DEVELOPMENT 19COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Under development: 56 MW from 2 projects Commercial operation was completed

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20COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Project Projecte Capacity (MW) Projected MWh ITC%1 Expected COD PPA Battery Status TX – Lower Rio 60 120 40% Q3 2025 Full Tolling Already in the U.S CA – Arrowleaf 35 140 30% Q4 2025 Full Tolling Already in the U.S CA – Shirk 80 320 40% Q1 2026 Merchant & RA contract Sent to U.S. prior to April 9th TX – Bird Dog 60 120 40% Q2 2026 Full Tolling Already in the U.S Israel – two high voltage projects 150(2) 600(2) - 2028 Full Tolling ENERGY STORAGE DEVELOPMENT 20COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Arrowleaf Storage and Solar PV Facility Under Construction, CA, USA - Featuring 35MW/140MWh Storage Capacity and 42MW Solar Output Under development: 385 MW/ 1,300 MWh from 6 projects (1) Based on current treasury guidance, expect to be transferred to third part at discount We have secured safe harbor for all storage projects until 2026 and in some cases beyond

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21COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. ENERGY STORAGE PIPELINE 31 named prospects ~3.2GW/12.0GWh potential capacity of U.S. storage pipeline 21COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. (1) East coast market includes PJM, ISO-NE, NYISO and SERC Bottleneck storage facility, CA, USA 80MW/320MWh 1,132 595 580 480 445 California East Coast WECC Texas Others1 GEOGRAPHICAL BREAKDOWN (MW)

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22COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. 2024 2028E Total revenues $935-975 Electricity $710-725 Products $172-187 Storage $53-63 Adjusted EBITDA (1) $563-593 TRANSITIONING TO ACCELERATED GROWTH2,3 IN STORAGE & ELECTRICITY SEGMENTS Geothermal Solar Storage 2025 GUIDANCE ($M) (1) For key financial results and non–GAAP financial measures reconciliation please see the appendix slides. (2) This growth plan is subject to obtaining all permits and regulatory approvals required as well as completing the development and construction of these power plants as planned (3) Change in MW growth in 2028 is compared to a 1,248MW Geothermal & Solar portfolio and a 290 MW storage portfolio in YE 2024. 1.5GW 2.6GW-2.8GW +14%-16% CAGR 2024-2028E

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23COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. SUMMARY: Proactive Measures Safe harbored geothermal PTC eligibility through 2028 and Energy Storage ITC eligibility through 2026 and beyond Q1 2025 Accomplishments Strong financial results driven by improved performance of the Storage and Product segments offset by curtailments in the Electricity segment M&A Signed an agreement to acquire 20MW Blue Mountain geothermal power plant from Cyrq Energy. Closing is expected by end of June Policy navigation Limited short-term exposure to recent Reciprocal Import Tariffs in all segments. May have long-term slowdown in the U.S. storage development 01 02 STRENGTHENING THE FOUNDATION, DRIVING GROWTH AND PROFITABILITY Growth trajectory and commitment Continued multi-year growth path with strengthened confidence in achieving 2.6GW to 2.8GW of generating capacity by 2028 04 05 Profitability Higher PPA pricing and tolling agreements, driving improved profitability for Ormat. Signed one PPA in early 2025 and negotiating 250MW at over $100 per MWh 0603

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25COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Reporting Requirements Advancing alignment with the California Climate Rule and TCFD framework ESG UPDATE Sustainability Report 2023 Released and published on Ormat’s website Board Diversity Achieved 50% female representation on the Board 25COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. Avoided Emissions Ormat’s operations avoided approximately 2,212,518 tCO2e in 2023 CDP Rating Maintained a ‘B’- ‘Management’ score, reflecting ongoing climate risk management

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28COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. PAYMENT OF PRINCIPAL DUE BY PERIOD ($M)1,2,3 AVERAGE INTEREST RATE: 4.79% (1) Before classification of deferred financing costs in the amount of $19.1 (2) We assume lines of credit are renewed (3) Not including short –term LOC and commercial papers ($ millions) Q2-2025 Q3-2025 Q4-2025 Year 2025 Long-Term non-recourse & limited recourse debt 17.5 13.5 21.5 52.6 Long Term Loans Full Recourse 59.5 45.3 34.1 138.9 Finance Liability - 3.2 - 3.2 Total $76.9 $62.1 $55.7 $194.7 Remaining Total 2025 2026 2027 2028 2029 Thereafter Long-Term non-recourse & limited recourse debt 641.6 52.6 69.4 66.4 66.0 66.9 320.3 Long Term Loans Full Recourse 1,145.8 138.9 185.8 185.8 213.1 187.4 234.8 Finance liability 219.7 3.2 9.5 8.3 8.5 11.7 178.5 Convertible senior notes 476.4 - - 476.4 - - - Total $2,483.5 $194.7 $264.8 $736.9 $287.6 $265.9 $733.7

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29COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. CAPEX FOR 2025 ($M) ACTUAL INVESTED IN Q1 2025 TOTAL CAPEX FOR Q2-Q4 2025 TOTAL CAPEX FOR 2025 Electricity Segment 75 275 350 Construction & Enhancements – fully released 47 125 172 Development enhancement, drillings and Exploration 4 120 124 Maintenance CapEx 24 30 54 Storage Segment 94 130 224 Product Segment 9 14 23 Total 178 419 597 (1) Excludes BD investments (2) Excludes non-cash items, assets retirement obligation and exchange rate

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30COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. P&L HIGHLIGHTS Q1 2025 Q1 2024 Change (%) GAAP MEASURES Revenues ($M) Electricity 180.2 191.3 (5.8) % Product 31.8 24.8 27.9 % Energy Storage 17.8 8.1 119.7 % Total Revenues 229.8 224.2 2.5 % Gross Profit ($ millions) 72.9 78.8 (7.5) % Gross margin (%) Electricity 33.5% 39.0% -550 bps Product 22.3% 14.8% +750 bps Energy Storage 30.6% 7.5% +2,310 bps Gross margin (%) 31.7% 35.2% -350 bps Operating income ($M) 50.9 52.6 (3.2) % Net income attributable to the Company’s stockholders 40.4 38.6 4.6 % Diluted EPS ($) 0.66 0.64 3.1 % NON-GAAP MEASURES(1) Adjusted Net income attributable to the Company’s stockholders 41.5 39.6 4.8 % Adjusted Diluted EPS ($) 0.68 0.65 4.6 % Adjusted EBITDA1 ($M) 150.3 141.2 6.4 %

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31COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. RECONCILIATION OF EBITDA AND ADJUSTED EBITDA (DOLLARS IN THOUSANDS) We calculate EBITDA as net income before interest, taxes, depreciation, amortization and accretion. We calculate Adjusted EBITDA as net income before interest, taxes, depreciation, amortization and accretion, adjusted for (i) mark-to-market gains or losses from accounting for derivatives not designated as hedging instruments; (ii) stock-based compensation; (iii) merger and acquisition transaction costs; (iv) gain or loss from extinguishment of liabilities; (v) costs related to a settlement agreement; (vi) non-cash impairment charges; (vii) write-off of unsuccessful exploration and storage activities; and (viii) other unusual or non-recurring items. We adjust for these factors as they may be non-cash, unusual in nature and/or are not factors used by management for evaluating operating performance. We believe that presentation of these measures will enhance an investor’s ability to evaluate our financial and operating performance. EBITDA and Adjusted EBITDA are not measurements of financial performance or liquidity under accounting principles generally accepted in the United States, or U.S. GAAP, and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net earnings as indicators of our operating performance or any other measures of performance derived in accordance with U.S. GAAP. Our Board of Directors and senior management use EBITDA and Adjusted EBITDA to evaluate our financial performance. However, other companies in our industry may calculate EBITDA and Adjusted EBITDA differently than we do. The table above reconciles net income to EBITDA and Adjusted EBITDA for the three months ended March 31, 2024, and 2025. Three Months Ended March 31, 2025 2024 Net income 41,034 40,350 Adjusted for: Interest expense, net (including amortization of deferred financing costs) 33,160 29,129 Income tax provision (benefit) (3,795) (147) Adjustment to investment in unconsolidated companies: our proportionate share in interest expense, tax and depreciation and amortization in Sarulla and Ijen 3,421 3,352 Depreciation, amortization and accretion 69,157 61,676 EBITDA 142,977 134,360 Mark-to-market (gains) or losses of derivative instruments 939 813 Stock-based compensation 4,911 4,769 Allowance for bad debts 26 - Merger and acquisition transaction costs - 1,299 Settlement agreement 900 - Write-off of unsuccessful exploration and storage activities 516 - Adjusted EBITDA 150,269 141,241

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32COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. RECONCILIATION OF ADJUSTED NET INCOME ATTRIBUTABLE TO THE COMPANY’S STOCKHOLDERS AND ADJUSTED EPS Three Months Ended March 31, 2025 2024 (in millions, except for EPS) GAAP Net income attributable to the Company's stockholders 40.4 38.6 Write-off of unsuccessful exploration and storage activities 0.41 - Merger and acquisition transaction costs - 1.0 Allowance for bad debts 0.02 - Settlement agreement 0.71 - Adjusted Net income attributable to the Company's stockholders 41.5 39.6 GAAP diluted EPS 0.66 0.64 Write-off of unsuccessful exploration and storage activities 0.01 - Merger and acquisition transaction costs - 0.02 Allowance for bad debts 0.00 - Settlement agreement 0.01 - Adjusted Diluted EPS 0.68 0.65 We calculate EBITDA as net income before interest, taxes, depreciation, amortization and accretion. We calculate Adjusted EBITDA as net income before interest, taxes, depreciation, amortization and accretion, adjusted for (i) mark-to-market gains or losses from accounting for derivatives not designated as hedging instruments; (ii) stock-based compensation; (iii) merger and acquisition transaction costs; (iv) gain or loss from extinguishment of liabilities; (v) cost related to a settlement agreement; (vi) non-cash impairment charges; (vii) write-off of unsuccessful exploration activities; and (viii) other unusual or non-recurring items. We adjust for these factors as they may be non-cash, unusual in nature and/or are not factors used by management for evaluating operating performance. We believe that presentation of these measures will enhance an investor’s ability to evaluate our financial and operating performance. EBITDA and Adjusted EBITDA are not measurements of financial performance or liquidity under accounting principles generally accepted in the United States, or U.S. GAAP, and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net earnings as indicators of our operating performance or any other measures of performance derived in accordance with U.S. GAAP. Our Board of Directors and senior management use EBITDA and Adjusted EBITDA to evaluate our financial performance. However, other companies in our industry may calculate EBITDA and Adjusted EBITDA differently than we do. The table above reconciles net income to EBITDA and Adjusted EBITDA for the three months ended March 31, 2024, and 2025.

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33COPYRIGHT © 2025 ORMAT TECHNOLOGIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES March 31, 2025 Cash and cash equivalents, marketable securities and Restricted cash (in millions $) Cash and cash equivalents 113 Restricted cash and cash equivalents 112 Total cash and cash equivalents, marketable securities and Restricted cash (in millions $) 225 current portion: Commercial paper 100 Limited and non-recourse 70 Full recourse 184 Financing liabilities 6 Total current portion of long-term debt: 361 Long-term debt, net of current portion: Limited and non-recourse: 561 Full recourse 957 Convertible senior notes 470 Financing liabilities 214 Total long-term debt, net of current portion: 2,202 Total Debt 2,563 Full recourse 1,712 Limited and non-recourse 631 Financing liabilities 220 Total Debt 2,563 Net Debt (in millions) 2,338 Total Equity 2,586 Net Debt to Capitalization (Total Equity) (%) 47% Net Debt (in millions) 2,338 LTM Adjusted EBITDA (in millions) 560 Net Debt to Adjusted EBITDA1 (x) 4.2x

Slides