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Ben Sheizaf Appointed as Board Member and Chairman of the Board Tel-Aviv, Israel, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Ellomay Capital Ltd. (NYSE American; TASE: ELLO) ("Ellomay” or the "Company”) , a renewable energy and power generator and developer of renewable energy and power projects in Europe, Israel and the USA, announced today that Shlomo Nehama, after serving as chairman of the board for 16 years, has decided to resign from the Company's Board of Directors. Mr. Nehama served on the Board of Directors and as the Company's Chairman of the Board since March 2008 and is a controlling shareholder of the Company. In connection with Mr. Nehama's resignation, the Company's Board of Directors unanimously appointed Mr. Ben Sheizaf as a member of the Board of Directors and as Chairman of the Board. Mr. Sheizaf will serve as a director until the Company's 2025 annual general meeting, at which he can be nominated for reappointment to the Company's Board of Directors. Mr. Sheizaf, 67, is the founder and CEO of B.P.O. Ltd., a consulting firm since 2019, and has held many senior positions in the Israeli finance and insurance sectors. Mr. Sheizaf currently serves as a member of the board and chairman of the risk management committee of Isracard Ltd. (TASE: ISCD) and as chairman of the board of Detelix Software Technologies Ltd. Between 2008-2019 he held several positions in Phoenix Financial Ltd. (TASE: PHOE), including Deputy CEO and Head of the Long-Term Savings Division, CEO of The Phoenix Pension and Provident Fund Ltd. and a board member of other companies in the group, chairman of Excellence Provident Fund Ltd. and a member of the board of Excellence Investments Ltd. (between 2018-2019), and chairman of Shekel Insurance Agency (2008) Ltd. (between 2012-2015). Mr. Sheizaf holds a B.A. in Accounting and Economics from Tel Aviv University and completed a supplemental year of accounting studies. "Having served as chairman of the board for 16 years, it is time for me to step down. We have achieved extraordinary growth and expansion with an impressive geographical spread as well. I am proud of what we have accomplished. It is with great pleasure that I thank the shareholders for their trust in us, the board members, and management for their responsible and accurate implementation of our strategic plans. The future holds many opportunities for us. I am pleased to announce Benny Sheizaf's appointment. I am confident that he will bring impressive knowledge and experience. This will help move the company forward to new heights. Needless to mention that if so requested or required I shall personally assist the board and the chairman in all aspects,” said Mr. Nehama. "It is my pleasure to thank Shlomo and the members of the board for their confidence in me. Together with Ellomay's excellent team, I am confident that we will lead the company to significant and sustainable growth,” said Mr. Sheizaf, the incoming Chairman of the Board. About Ellomay Capital Ltd. Ellomay is an Israeli based company whose shares are listed on the NYSE American and the Tel Aviv Stock Exchange under the trading symbol "ELLO”. Since 2009, Ellomay Capital focuses its business in the renewable energy and power sectors in Europe, USA and Israel. To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, Spain, the Netherlands and Texas, USA, including: Information Relating to Forward-Looking Statements This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company's management. All statements, other than statements of historical facts, included in this press release regarding the Company's plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words "estimate,” "project,” "intend,” "expect,” "believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company's forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company's forward-looking statements, including changes in electricity prices and demand, continued war and hostilities in Israel, Gaza and Lebanon, regulatory changes, including extension of current or approval of new rules and regulations increasing the operating expenses of manufacturers of renewable energy in Spain, increases in interest rates and inflation, changes in the supply and prices of resources required for the operation of the Company's facilities (such as waste and natural gas) and in the price of oil, the impact of continued military conflict between Russia and Ukraine, technical and other disruptions in the operations or construction of the power plants owned by the Company and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. These and other risks and uncertainties associated with the Company's business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Contact: Kalia Rubenbach (Weintraub) CFO Tel: +972 (3) 797-1111 Email: [email protected]AP Trending SummaryBrief at 1:56 p.m. ESTTORONTO — Canada's main stock index moved lower Monday, weighed down by energy stocks as the price of oil fell, while U.S. stock markets rose. The S&P/TSX composite index closed down 33.93 points at 25,410.35, while the Dow Jones led the way with an almost one-per-cent gain. “The themes of the last couple of weeks are familiar again today,” said Steve Locke, chief investment officer for fixed income and multi-asset strategies at Mackenzie Investments. Specific sectors that investors think could benefit from president-elect Trump’s promised policies have been leading the way, said Locke, such as financials, industrials and health care. In New York, the Dow Jones industrial average was up 440.06 points at 44,736.57. The S&P 500 index was up 18.03 points at 5,987.37, while the Nasdaq composite was up 51.19 points at 19,054.84. Amid the transition period before Trump becomes president, Locke said investors are eyeing pieces of information that could help illuminate what’s to come, in the form of nominations. The latest announcement was Scott Bessent, a hedge fund manager, for Treasury Secretary. “The markets reacted positively to his announcement,” said Locke. “I think the candidate here ... is someone that the market feels a little bit more comfortable with in the context of gradual imposition of tariffs and things like that.” U.S. Treasury yields eased on Monday, after climbing post-election. Yields were on the rise after the election as markets priced in fewer rate cuts in the coming year, said Locke, in anticipation of Trump’s pro-growth policies. However, though the election has been top of mind for investors, the U.S. Federal Reserve has a lot of economic data coming down the pipeline before its last interest rate decision this year, said Locke, including data this week on the housing market, consumer confidence, and manufacturing. “It’ll be a little bit of a mixture this week, we think, but nothing that probably changes the direction of the Fed here too much as we think about the expectations for policy rate changes in the upcoming meeting in December,” he said. Markets are currently split on whether the central bank will hold steady or announce another quarter-percentage-point cut, said Locke. Oil prices fell Monday, which Locke said was likely tied to talk of a ceasefire deal between Israel and Hezbollah. The Canadian dollar traded for 71.53 cents US compared with 71.54 cents US on Friday. The January crude oil contract was down US$2.30 at US$68.94 per barrel and the January natural gas contract was up 16 cents at US$3.44 per mmBTU. The December gold contract was down US$93.70 at US$2,618.50 an ounce and the March copper contract was up three cents at US$4.16 a pound. — With files from The Associated Press This report by The Canadian Press was first published Nov. 25, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian Press

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