Doral Group Renewable Energy Resources Ltd · TASE:DORL
Doral Group Renewable Energy Resources — Merger or Acquisition (September 2026)
16 slides from Doral Group Renewable Energy Resources's merger presentation, September 2026
Slide 1: Strategic Expansion of Ownership in Doral LLC
Strategic Expansion of Ownership in Doral LLC
Slide 2: Legal Clarification
Legal Clarification This presentation of Doral Renewable Energy Resources Group Ltd. (hereinafter: “the Company”) was prepared for the Revenue data for the projects included in this presentation may be presented materially differently in the Company’s financial purpose of presenting the transactions
Slide 3: Doral's Primary Growth Engine
Strategic Expansion of Ownership in Doral LLC4 Doral’s Primary Growth Engine Transaction Increasing the Equity Updated Ownership Components Stake in Doral LLC Structure of Doral LLC Doral’s Equity Investment in Doral LLC ~ 53% Doral’s post- Acquisition of CAG’s stake closing stake Migdal 11%~ in Dor
Slide 4: Doral LLC Snapshot
Doral LLC Snapshot ~ 2.5 + 7.4 GWp GWh ~ 4 GWh ~ 18 GWp Secured¹ eligibility Storage pipeline Solar pipeline for tax credits (SH) Doral LLC operates in more than 24 states $ 800 million ~ 340 + 3.7 GWp MWh across the United Projected annual EBITDA1 Connected2 and under States for the mature pipeline
Slide 5: Leading U.S. Renewable Energy Producer
Leading U.S. Renewable Energy Producer Leadership. Performance. Momentum Proven Rapid Entrepreneurial DNA & Accelerated Execution Large-Scale Greenfield Development Over $5 billion invested in operations in 6 years. Doral LLC’s mature pipeline1 has tripled over ~ 340 MWh and 3.7 GWp connected2 and u
Slide 6: Unprecedented Growth in the U.S. Power Market
Unprecedented Growth in the U.S. Power Market A paradigm shift in power demand growth Projected ~77 GW of additional driven by data centers (TWh) 5,765 generation capacity by 2030, driven by rising power demand ~32.4 GW 3,765 ~32.0 GW ~13.2 GW Historic Load Business-as-Usual Data Center Demand Elect
Slide 7: Doral LLC operates in the highest-potential U.S. Power Markets
Doral LLC operates in the highest-potential U.S. Power Markets ERCOT Expected 80% market growth* 60% A chart based on an analysis of the following sources: FERC 2025 State of the Markets; NERC 2025 Long- Term Reliability Assessment; PJM 40% 2026 Load Forecast Report; MISO CAISO Futures Report; SPP I
Slide 8: The Transaction Unlocks Significant Value Over the Short, Medium, and Long Term
The Transaction Unlocks Significant Value Over the Short, Medium, and Long Term Immediate Medium-term Strategic value value value 8
Slide 9: Total investment secured at an opportunistic valuation
Backed by long-term vision and disciplined position building, the total investment was secured at an opportunistic valuation Net Increase in Doral LLC Equity Stake 9.7% 53.2% Consideration for the total stake (27%), had it been priced based on the current move 5.8% $400M cash $1,036M** 11.8% conside
Slide 10: ILS 620 million boost to Doral's annual EBITDA
ILS 620 million boost to Doral's annual EBITDA* from the mature pipeline at maximum capital efficiency4 Capital $738 million $207 million Efficiency in stock and cash (ILS 620 million) *Annual EBITDA from the mature pipeline1 Equity Investment / Run-rate EBITDA The Company has all the necessary X so
Slide 11: Doral LLC Achieves Record Growth, Doubling Ownership in Future Projects
Doral LLC Achieves Record Growth, Doubling Ownership in Future Projects 7.9 GWp + 2.5 GWh Mature pipeline1 $800M The mature pipeline Run-rate EBITDA* has tripled over the past year* 9.8 GWp + 1.4 GWh x3 Pre-mature pipeline $1B+ Run-rate EBITDA* * Reflects the change from Q1-2025 to Q1-2026 ** 100% p
Slide 12: Strategic Investment in the Primary Growth Engine
Strategic Investment in the Primary Growth Engine Significant increase in the equity Assuming the largest stake of the Company and Doral LLC (53%) in Doral LLC Settlement of compound financial Securing full capital for the instruments and streamlining of development and construction the capital stru
Slide 13: Strong Momentum for U.S. Pipeline Construction
Strong Momentum for U.S. Pipeline Construction4 Transaction unlocks the equity capital required for Doral LLC to fully develop the mature solar-plus-storage pipeline1 (~1.1 GWh + 7.4 GWp) Required equity contribution from Projects Doral LLC MWp / MWh (PV or PV+BESS) (as of 31.3.2026, $ millions), on
Slide 14: Doral raises guidance following the Transaction
Doral raises guidance following the Transaction3,4,5* Addition of ~ILS 620 million to the annual EBITDA of the mature pipeline** FFO EBITDA Revenues Project and electricity trading (ILS millions) Project and electricity trading (ILS millions) Project and electricity trading (ILS millions) excluding
Slide 15: Unlocking of Significant Value Over the Short, Medium, and Long Term
Unlocking of Significant Value Over the Short, Medium, and Long Term4 Immediate value Medium-term value Strategic value Leveraging strategic foresight, Doubling the ownership stake (an Solidifying Doral’s position as the largest proactive planning, and phased additional 27%) in every future and prin
Slide 16: Notes
Notes 1. “Mature” – projects that are in commercial operation, ready for connection, under Securities Law, which is based on the Company’s assessments at the date of this report. construction or in pre-construction, as well as projects in the United States that have secured These assessments are bas
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