Genie Energy Ltd.

Evaluation of Disclosure Controls and Procedures. Our Chief Executive Officer and Chief Financial Officer have evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended), as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were not effective as of September 30, 2026, due to the material weaknesses in internal control over financial reporting that were disclosed in the 2025 Form 10-K.

Remediation. Management continues to implement the remediation plan and expects to complete the remaining remediation activities during 2026; however, the material weaknesses will not be considered remediated until the applicable controls have operated for a sufficient period and Management has concluded, through testing, that they are operating effectively.

Changes in Internal Control over Financial Reporting. In the first quarter of 2026, we completed the implementation of a new enterprise resource planning (ERP) system, to maintain the Company's financial records, process transactions and generate reports for financial reporting. We have made changes to our internal control over financial reporting to address the related processes and systems. There were no other changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the three months ended September 30, 2026, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.