ORMAT TECHNOLOGIES, INC.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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ORMAT TECHNOLOGIES, INC.

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2026NOTICE OFannualmeeting ofstockholdersand proxystatement

MISSION

A global leader in renewable energy, developing and operating a geographically balanced portfolio of geothermal, recovered energy, and energy storage assets.

VALUES

A LETTER FROM OUR CHAIRMANAND CHIEF EXECUTIVE OFFICER

DEAR FELLOW SHAREHOLDERS,

On behalf of the Board of Directors, Ormat’s Executive Management, and the entire Ormat team, we are grateful for your ongoing support and confidence as we reflect on a remarkable year of accomplishments. In 2025, we executed our strategic vision and strengthened our legacy as a leader in renewable energy solutions, achieving important milestones that demonstrate the strength of our business model and our ability to deliver consistent growth across our global operations.

OPERATIONAL EXCELLENCE AND MILESTONE ACHIEVEMENTS

2025 was a landmark year for Ormat as we proudly celebrated 60 years of our Company’s history while continuing to build a strong foundation for the future. This milestone reflects our enduring commitment to innovation, operational excellence, and sustainable energy development.

Our operational achievements this year were substantial. We brought the 35MW Ijen Geothermal Facility in Indonesia into commercial operation, further expanding our international presence and demonstrating our expertise in developing geothermal resources in diverse geological environments. In the United States, we commenced operations at the Lower Rio Energy Storage Facility in Texas and achieved COD for the 6MW Beowawe solar facility, showcasing our diversified approach to renewable energy generation.

A significant highlight was bringing online Arrowleaf, a 35MW/140MWh energy storage system paired with a 42MW solar project, which exemplifies our integrated approach to renewable energy solutions. We also expanded our geothermal portfolio with the strategic acquisition of the Blue Mountain Geothermal Power Plant in Nevada, adding proven assets to our growing portfolio.

GLOBAL EXPANSION AND COMMERCIAL PROGRESS

Our momentum extended across the globe as we continued to strengthen our market position through strategic partnerships and commercial agreements. We signed two GEECA agreements in Indonesia, executed a 10-year PPA with Calpine Energy Solutions, and entered into tolling agreements for two energy storage facilities in Israel, marking our first energy storage projects outside the United States.

In parallel, we accelerated our drilling program to bring geothermal projects to COD faster and signed more than 200MW in portfolio PPAs, positioning us well for continued growth in the coming years.

STRENGTHENING OUR LEADERSHIP AND INVESTING IN OUR PEOPLE

Alongside these business achievements, we strengthened our leadership team with the addition of Aron Willis and Daniel Moelk and continued to invest in what matters most - our people and the communities where we operate. Supporting employee growth, development, and well-being remains a core part of Ormat’s culture, and we remain deeply committed to ensuring every employee has opportunities to thrive. We also continued our efforts to engage meaningfully with the communities in which we operate, creating positive economic impact and fostering strong local partnerships that support our long-term success.

ADVANCING INNOVATION AND TECHNOLOGY

Throughout the year, we continued to advance next-generation geothermal technologies through strategic collaborations with SLB and Sage Geosystems. These partnerships are pioneering innovative solutions to enhance efficiency and unlock new geothermal resources, helping shape the future of clean energy and positioning Ormat at the forefront of technological advancement in our industry.

LOOKING FORWARD

As we look ahead, we remain optimistic about Ormat’s future and our ability to capitalize on the growing global demand for clean, reliable energy solutions. Our diversified portfolio, strong balance sheet, and experienced team position us well to continue delivering value to all stakeholders.

Thank you for your continued trust and investment in Ormat Technologies. Your support enables us to pursue our mission of providing sustainable energy solutions that benefit communities around the world. We invite you to review the enclosed proxy materials and participate by voting your shares on the matters presented.

ORMAT TECHNOLOGIES, INC. I 2026 PROXY STATEMENT 01

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