ORMAT TECHNOLOGIES, INC.

Future minimum lease payments under non-cancellable leases as of December 31, 2025 were as follows:

(1) Financing liability was assumed as part of the Terra-Gen business combination transaction in 2021 as further described under Note 11 to the consolidated financial statements, and is related to the sale and lease-back transaction of the Dixie Valley geothermal assets.

Leases in Which the Company is a Lessor

The table below presents lease income recognized as a lessor:

NOTE 22 —SUBSEQUENT EVENTS

Cash Dividend

On February 24, 2026, the Company’s Board of Directors declared, approved and authorized payment of a quarterly dividend of $7.3 million ($0.12 per share) to all holders of the Company’s issued and outstanding shares of common stock on March 10, 2026, payable on March 24, 2026.

Convertible Senior Notes

As further disclosed under Note 11 to the consolidated financial statements, on or after January 15, 2027 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the Convertible Senior Notes may convert all or any portion of their Notes at any time and as a result, the Company expects to present the

Notes under short-term liabilities on the consolidated balance sheet, starting the first quarter of 2026. As of the filing date of this Form 10-K for the fiscal year ended December 31, 2025, no portion of the Notes was converted.

Business Combination - Solar and Storage Facility Purchase Transaction

On January 29, 2026, the Company closed a purchase transaction with Innergex Renewables USA LLC. to acquire a solar and storage facility on the Big Island of Hawaii, for a total cash consideration of $80.5 million (subject to a customary post-closing working capital adjustment to the purchase price) for 100% of the equity interests in the entity holding this asset. The acquired assets include a 30 MW solar PV facility paired with a 30 MW/120 MWh battery energy storage system, which achieved commercial operation in March 2025. All output from the facility is sold under a 25-year fixed price power purchase agreement with HECO.

As a result of the acquisition, the Company expanded its overall storage and solar generation capacity and expects to improve the profitability of the purchased assets through cost reduction and synergies. The Company will account for the transaction under ASC 805, Business Combinations. The Company is still evaluating the accounting related to the purchase transaction, including the purchase price allocation, and therefore, such allocation is not provided herewith. The Company expects to consolidate the acquired assets in its consolidated financial statements starting from the transaction close date.