ISRAEL ELECTRIC CORPORATION

The Company’s main activities take place within the State of Israel. It generates, transmits, distributes, and supplies most of the electricity used in the Israeli economy according to licenses granted by virtue of the Electricity Sector Law, 1996. In addition, the Company acts as “administrator of the country’s electricity system”. Furthermore, the Company is a licensed essential service supplier (as defined in the Electricity Sector Law, 1996) and functions as constructor of the required infrastructure for the remainder of its activities. The IEC (TASE: ELEC.B22) strives to continue leading the Electricity Sector in Israel, adapting itself to changing economic conditions and financial, social and technological changes.