The market expects Ormat Technologies (ORA) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be rel ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ Annual Report PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-32347 ORMAT TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 88-0326081 (State or other jurisdiction of incorporation or orga ...

Exhibit 99.1 Ormat Technologies Contact: Smadar Lavi VP Head of IR and ESG Planning & Reporting 775-356-9029 (ext. 65726) slavi@ormat.com Investor Relations Agency Contact: Joseph Caminiti or Josh Carroll Alpha IR Group 312-445-2870 ORA@alpha-ir.com ORMAT TECHNOLOGIES REPORTS FOURTH QUARTER AND YEAR-END 2023 FINANCIAL RESULTS DELIVERED A 77.8% INCREASE IN ANNUAL DILUTED EPS AND A 25.0% INCREASE IN ANNUAL ADJUSTED DILUTED EPS COMPARED TO PRIOR YEAR COMPANY ON TRACK TO MEET 2026 GENERATING CAPACITY GOALS OF 2 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-32347 ORMAT TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 88-0326081 (State or ...

PART I — FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) This section presents the unaudited condensed consolidated financial statements for the quarter ended June 30, 2023 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of June 30, 2023, shows total assets of **$5.01 billion**, an increase from **$4.61 billion** at year-end 2022 Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$5,010,644** | **$4,611,579** | | Cash and cash equivalents | $275,066 | $95,872 | | Property, plant and equipment, net | $2,836,003 | $2,493,457 | | **Total Liabilities** | **$2,593,594** | **$2,581,014** | | Current portion of long-term debt | $169,008 | $165,504 | | Long-term debt, net of current portion | $1,597,969 | $1,619,202 | | **Total Equity** | **$2,407,042** | **$2,020,975** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q2 2023, total revenues increased **15.2%** YoY to **$194.8 million**, with net income more than doubling to **$24.2 million** Q2 2023 vs. Q2 2022 Performance (in thousands, except per share data) | Metric | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | Total Revenues | $194,796 | $169,078 | | Gross Profit | $49,490 | $57,601 | | Operating Income | $24,224 | $38,607 | | Net Income Attributable to Stockholders | $24,191 | $11,260 | | Diluted EPS | $0.40 | $0.20 | H1 2023 vs. H1 2022 Performance (in thousands, except per share data) | Metric | H1 2023 | H1 2022 | | :--- | :--- | :--- | | Total Revenues | $380,028 | $352,788 | | Gross Profit | $125,559 | $127,506 | | Operating Income | $77,390 | $83,685 | | Net Income Attributable to Stockholders | $53,220 | $29,690 | | Diluted EPS | $0.90 | $0.53 | [Condensed Consolidated Statements of Cash Flow](index=12&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flow) For H1 2023, net cash from operating activities was **$130.5 million**, with a net increase in cash of **$168.7 million** Six Months Ended June 30 Cash Flow Summary (in thousands) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $130,505 | $115,290 | | Net cash used in investing activities | ($274,942) | ($225,036) | | Net cash provided by financing activities | $313,087 | $123,010 | | **Net change in cash** | **$168,706** | **$12,937** | - Financing activities in H1 2023 were highlighted by proceeds of **$341.7 million** from a common stock issuance and **$99.9 million** from new long-term loans[23](index=23&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=14&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail significant financial events, including a **$341.7 million** equity offering and key customer revenue concentrations - In March 2023, the company raised net proceeds of approximately **$341.7 million** through a public offering of 4,140,000 shares of common stock[31](index=31&type=chunk) - The company's three largest customers (SCPPA, Sierra Pacific/Nevada Power, and KPLC) represented **23.8%**, **17.9%**, and **14.4%** of total revenues, respectively, for the six months ended June 30, 2023[38](index=38&type=chunk) - The company is involved in a lawsuit regarding its Dixie Meadows project, which is currently stayed. The net book value of the project was approximately **$84.7 million** as of June 30, 2023[85](index=85&type=chunk) - Subsequent to the quarter end, on August 2, 2023, the Board of Directors declared a quarterly dividend of **$0.12 per share**[91](index=91&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=32&type=section&id=ITEM%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management discusses the company's performance, highlighting a **15.2%** YoY revenue increase in Q2 2023 and strengthened liquidity [Recent Developments](index=35&type=section&id=Recent%20Developments) The company has been active in expanding its portfolio, commencing operations for several BESS projects and a geothermal plant - Successfully commenced commercial operations at five new BESS facilities in 2023: Pomona (**20MW/40MWh**), Upton (**23MW/23MWh**), Andover (**20MW/20MWh**), Howell (**7MW**), and Bowling Green (**12MW**)[111](index=111&type=chunk)[113](index=113&type=chunk) - The North Valley geothermal power plant (**25 MW**) began commercial operation in April 2023 under a 25-year PPA with NV Energy[113](index=113&type=chunk) - Signed a 20-year PPA with San Diego Community Power (SDCP) for the Arrowleaf Solar and Storage Facility (**42 MW solar**, **35 MW/140 MWh storage**)[111](index=111&type=chunk) [Results of Operations](index=40&type=section&id=Results%20of%20Operations) This section details operating results, showing Q2 2023 total revenues grew **15.2%** to **$194.8 million**, driven by the Product segment Q2 2023 vs Q2 2022 Revenue by Segment (in millions) | Segment | Q2 2023 | Q2 2022 | % Change | | :--- | :--- | :--- | :--- | | Electricity | $155.3 | $151.2 | 2.7% | | Product | $33.5 | $10.4 | 222.0% | | Energy Storage | $6.0 | $7.5 | (19.7)% | | **Total** | **$194.8** | **$169.1** | **15.2%** | - The increase in Q2 Electricity revenue was mainly due to new plants (CD4, North Valley) and an upgrade (Dixie Valley), partially offset by lower revenue at the Puna plant due to lower electricity prices[132](index=132&type=chunk) - The decrease in Q2 Energy Storage revenue was mainly due to lower energy rates at PJM and CAISO facilities compared to the prior year[135](index=135&type=chunk) - For H1 2023, total revenues increased **7.7%** YoY to **$380.0 million**, while net income attributable to stockholders increased to **$53.2 million** from **$29.7 million**[157](index=157&type=chunk)[181](index=181&type=chunk) [Liquidity and Capital Resources](index=48&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2023, the company had **$275.1 million** in cash and equivalents and **$390.8 million** in unused borrowing capacity - As of June 30, 2023, the company had **$275.1 million** in cash and cash equivalents and **$390.8 million** of unused corporate borrowing capacity[183](index=183&type=chunk) - Estimated capital needs for the remainder of 2023 include **$328.0 million** for capital expenditures and **$80.2 million** for long-term debt repayment[184](index=184&type=chunk) - The company maintains certain financial covenants, including an equity to total assets ratio of not less than **25%** (actual **48.0%**) and a net debt to Adjusted EBITDA ratio not to exceed **6.0** (actual **3.56**)[190](index=190&type=chunk) [Non-GAAP Measures: EBITDA and Adjusted EBITDA](index=54&type=section&id=Non-GAAP%20Measures%3A%20EBITDA%20and%20Adjusted%20EBITDA) The company uses EBITDA and Adjusted EBITDA to evaluate financial performance, with Q2 2023 Adjusted EBITDA at **$100.9 million** Reconciliation of Net Income to Adjusted EBITDA (in thousands) | | Three Months Ended June 30, | Six Months Ended June 30, | | :--- | :--- | :--- | | | **2023** | **2022** | **2023** | **2022** | | Net income | $24,511 | $14,945 | $57,972 | $37,738 | | EBITDA | $96,995 | $92,815 | $216,499 | $195,403 | | **Adjusted EBITDA** | **$100,904** | **$100,678** | **$224,391** | **$208,546** | [Capital Expenditures](index=55&type=section&id=Capital%20Expenditures) The company outlines its significant project pipeline, estimating total capital expenditures for the last three quarters of 2023 at **$328.0 million** - Total estimated capital expenditures for the last three quarters of 2023 are approximately **$328.0 million**[226](index=226&type=chunk) - Key projects expected to come online in 2023 include the Heber Complex repowering (to **87 MW**), Steamboat Solar, North Valley Solar, and Steamboat Hills Solar[213](index=213&type=chunk)[214](index=214&type=chunk)[216](index=216&type=chunk)[218](index=218&type=chunk) - The company is constructing several energy storage facilities, with expected completion dates ranging from Q3 2023 to H2 2025, including the **80MW/320MWh** Bottleneck project[222](index=222&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=61&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) This section incorporates by reference the detailed discussion on market risks from Item 2, MD&A - Information regarding market risk is incorporated by reference from the 'Exposure to Market Risks' and 'Concentration of Credit Risk' sections in Item 2 of this report[248](index=248&type=chunk) [Controls and Procedures](index=61&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2023 - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2023[250](index=250&type=chunk) - No changes in internal controls over financial reporting occurred in Q2 2023 that have materially affected, or are reasonably likely to materially affect, internal control over financial reporting[251](index=251&type=chunk) PART II — OTHER INFORMATION [Legal Proceedings](index=62&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) This section refers to Note 9 of the condensed consolidated financial statements for information regarding legal proceedings - Information regarding legal proceedings is incorporated by reference from Note 9 to the condensed consolidated financial statements[254](index=254&type=chunk) [Risk Factors](index=62&type=section&id=ITEM%201A.%20RISK%20FACTORS) This section updates the company's risk factors, highlighting a new material risk concerning conditions in and around Israel - A new material risk factor has been added regarding the political and security conditions in Israel, where the majority of senior management and main production facilities are located[255](index=255&type=chunk) - The risk factor highlights that widespread political unrest and protests in response to proposed judicial system reforms could negatively impact the business environment, potentially affecting investment, currency, and overall stability[258](index=258&type=chunk) [Other Information](index=63&type=section&id=ITEM%205.%20OTHER%20INFORMATION) The company discloses that on April 2, 2023, both the CEO and Chairman entered into written stock selling plans - On April 2, 2023, CEO Doron Blachar and Chairman Isaac Angel each entered into a Rule 10b5-1 stock selling plan[262](index=262&type=chunk) [Exhibits](index=64&type=section&id=ITEM%206.%20EXHIBITS) This section lists the exhibits filed with the quarterly report, primarily consisting of CEO and CFO certifications - The exhibits filed with the report include CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act, as well as Inline XBRL documents[268](index=268&type=chunk)

Financial Data and Key Metrics Changes - Net income attributable to stockholders was $24.2 million or $0.40 per diluted share in Q2 2023, compared to $11.3 million or $0.20 per diluted share in the same quarter last year, reflecting substantial growth driven by the Inflation Reduction Act [11] - Total revenue for Q2 2023 was $194.8 million, up 15.2% year-over-year, with adjusted EBITDA increasing by 0.2% to $100.9 million [17][18] - Gross profit for Q2 2023 was $49.5 million, resulting in a gross margin of 25.4%, down from 34.1% in Q2 2022 [97] Business Segment Data and Key Metrics Changes - Electricity segment revenue increased by 2.7% to $155.3 million, driven by portfolio expansion at CD4 and North Valley sites, despite lower revenues from Puna due to temporary lower generation and energy prices [12] - Energy Storage segment revenues decreased to $6 million from $7.5 million in Q2 2022, primarily due to lower merchant energy prices [13] - Products segment revenue surged by 222% to $33.5 million, representing 17.2% of consolidated revenues, attributed to higher backlog and improved margin capture [19] Market Data and Key Metrics Changes - The Energy Storage segment recorded a gross margin of 1.9%, an improvement from the negative margin in Q1 2023 but lower than the previous year's gross margin [14] - The gross margin for the Electricity segment was 29.6%, down from 36.8% in the same quarter last year, impacted by lower generation at Puna and absence of business interruption insurance proceeds [20] Company Strategy and Development Direction - The company plans to increase its medium-term growth target by approximately 7% to a capacity of 1.9 gigawatts to 2 gigawatts by year-end 2025, reflecting confidence in growth plans [16] - The company is focusing on expanding its Energy Storage portfolio, with three new battery storage facilities expected to be operational by the end of 2025 [9] - The company is actively exploring new geothermal projects and enhancing existing ones, with significant exploration efforts underway [54][58] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improved project economics due to recent IRA guidance and increased demand for renewable energy assets [16] - The company anticipates continued benefits from PTC and ITC under the IRA, supporting growth and profitability [39] - Management acknowledged challenges in the geothermal sector but remains committed to exploring innovative technologies to enhance geothermal energy development [50] Other Important Information - The company declared a quarterly dividend of $0.12 per share, payable on August 30, 2023, and expects to maintain this dividend in the next quarter [30] - As of June 30, 2023, net debt was approximately $1.6 billion, with cash and cash equivalents totaling around $395 million [25] Q&A Session Summary Question: What drove the lower Puna generation? - Management explained that lower generation was due to ongoing drilling campaigns and reduced flow rates from one well, alongside lower energy prices compared to last year [42] Question: What are the drivers for increasing the storage outlook? - Management highlighted improved project returns due to reduced battery prices and enhanced ITC guidance, which has allowed for the release of more projects [45] Question: Can you provide insights on the development pipeline for geothermal projects? - Management indicated that significant demand in the U.S. has led to increased exploration efforts, with multiple locations being drilled simultaneously [54] Question: How do you see margins trending in the Storage segment? - Management expects margins to improve in Q3 and Q4, with new contracted PPAs expected to kick in next year, potentially reaching 15% to 25% gross margin [61] Question: How will tax credits impact the P&L in the second half of the year? - Management noted that ITC credits related to Storage assets will positively impact earnings, with expectations of significant contributions from upcoming projects [75]

Electricity $218.9M +10.0% Products $3.4M +53.5% Energy Storage $2.1M (71.1)% 97.5% Electricity 1.5% Products 1% Storage (1) For key financial results and non –GAAP financial measures reconciliation please see the appendix slides. COPYRIGHT © 2023 ORMAT TECHNOLOGIES, INC. 8 REGULATORY ENVIRONMENT Contribution of IRA U.S PTC - $27.5/MWh Claimed for geothermal Impacts Adj. EBITDA Income attribute to signed tax equity transactions in Q2 2023 - $12.3 million +28% growth vs Q2 2022 Mainly due to CD4 Transferable ...

Ormat Technologies, Inc. (NYSE:ORA) Q1 2023 Results Conference Call May 23, 2023 9:00 AM ET Company Participants Alec Steinberg - Alpha IR Doron Blachar - CEO Assi Ginzburg - CFO Smadar Lavi - VP, IR and ESG Planning and Reporting Conference Call Participants Noah Kaye - Oppenheimer Justin Clare - ROTH MKM Julien Dumoulin-Smith - Bank of America Jeffrey Osborne - TD Cowen Operator Good morning and welcome to the Ormat Technologies’ First Quarter 2023 Earnings Conference Call. All participants will be in a l ...

PART I — FINANCIAL INFORMATION [Financial Statements](index=5&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) Ormat Technologies reported **$185.2 million** in Q1 2023 total revenues, with net income attributable to stockholders rising to **$29.0 million**, total assets increasing to **$5.02 billion**, and financing activities providing **$350.4 million** in net cash inflow Condensed Consolidated Balance Sheet Data (Unaudited) | | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | | (In millions) | (In millions) | | **Total current assets** | $811.0 | $456.7 | | **Total assets** | $5,015.3 | $4,611.6 | | **Total current liabilities** | $391.0 | $343.9 | | **Total liabilities** | $2,668.9 | $2,581.0 | | **Total equity** | $2,337.0 | $2,021.0 | Condensed Consolidated Statements of Operations (Unaudited) | | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | | (In millions, except per share data) | (In millions, except per share data) | | **Total revenues** | $185.2 | $183.7 | | **Gross profit** | $76.1 | $69.9 | | **Operating income** | $53.2 | $45.1 | | **Net income attributable to the Company's stockholders** | $29.0 | $18.4 | | **Diluted EPS** | $0.51 | $0.33 | Condensed Consolidated Statements of Cash Flow (Unaudited) | | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | | (In millions) | (In millions) | | **Net cash provided by operating activities** | $56.5 | $81.8 | | **Net cash used in investing activities** | ($111.2) | ($139.3) | | **Net cash provided by (used in) financing activities** | $350.4 | ($44.7) | - In March 2023, the company completed a public offering of **3.6 million** shares of common stock, with net proceeds of approximately **$341.7 million**[26](index=26&type=chunk)[81](index=81&type=chunk) - The company secured a **$100 million** loan agreement in February 2023, featuring a 10-year term and a fixed interest rate of **6.45%**[25](index=25&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=ITEM%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management reported a **0.8%** increase in Q1 2023 total revenues, primarily driven by **4.8%** growth in the Electricity segment, with gross margin improving to **41.1%** and Adjusted EBITDA increasing to **$123.5 million**, while maintaining strong liquidity and estimating **$494.0 million** in capital expenditures for the rest of 2023 Revenues by Segment (Q1 2023 vs Q1 2022) | Segment | Q1 2023 Revenue | Q1 2022 Revenue | Change (%) | | :--- | :--- | :--- | :--- | | Electricity | $170.3 million | $162.5 million | 4.8% | | Product | $10.0 million | $14.6 million | (31.4)% | | Energy Storage | $4.9 million | $6.6 million | (25.6)% | | **Total** | **$185.2 million** | **$183.7 million** | **0.8%** | - The increase in Electricity segment revenue was mainly due to the CD4 facility (**$5.4 million**) and Tungsten Mountain 2 (**$3.9 million**) starting commercial operations in 2022[122](index=122&type=chunk) - The decrease in Energy Storage segment revenue was mainly due to lower energy rates at PJM and CAISO facilities compared to the prior year[125](index=125&type=chunk) - The company's liquidity as of March 31, 2023, includes **$414.9 million** in cash and cash equivalents and **$391.0 million** of unused corporate borrowing capacity[147](index=147&type=chunk) - Estimated capital expenditures for the last three quarters of 2023 total approximately **$494.0 million**, allocated to new construction, enhancements, exploration, and maintenance[189](index=189&type=chunk) Adjusted EBITDA Reconciliation | | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | | (In millions) | (In millions) | | **Net income** | $33.5 | $22.8 | | **EBITDA** | $119.5 | $102.6 | | **Adjusted EBITDA** | $123.5 | $107.9 | [Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company faces limited electricity price volatility due to fixed-rate PPAs, minimal interest rate risk with **98.8%** fixed-rate long-term debt, and manages foreign currency exposure to the U.S. dollar, NIS, and Euro using derivatives, with a **10%** rate change impacting forward contracts by **$4.6 million** to **$5.6 million** - Exposure to electricity price volatility is limited because the majority of long-term PPAs have fixed or escalating rate provisions, though energy storage projects are exposed to merchant market prices[191](index=191&type=chunk) - As of March 31, 2023, **98.8%** of the company's consolidated long-term debt was fixed-rate, minimizing exposure to interest rate volatility[193](index=193&type=chunk) - The company is exposed to foreign currency risk, particularly the fluctuation of the U.S. dollar versus the New Israeli Shekel (NIS) and the Euro, mitigated by using forward and cross-currency swap contracts[195](index=195&type=chunk) Sensitivity Analysis of Foreign Currency Forward Contracts (as of March 31, 2023) | Scenario | Change in Fair Value | | :--- | :--- | | Assuming a 10% Increase in Rates | ($4.61 million) | | Assuming a 10% Decrease in Rates | $5.63 million | [Controls and Procedures](index=50&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal controls over financial reporting during the first quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2023[215](index=215&type=chunk) - No changes in internal controls over financial reporting occurred in the first quarter of 2023 that have materially affected or are reasonably likely to materially affect internal control over financial reporting[216](index=216&type=chunk) PART II — OTHER INFORMATION [Legal Proceedings](index=51&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) The company is involved in a stayed lawsuit regarding its Dixie Meadows project, is in ongoing discussions with Kenya's KPLC concerning PPA tariff reductions, and a special committee is investigating short seller claims related to anti-corruption compliance, with cooperation extended to the SEC and DOJ - A lawsuit regarding the Dixie Meadows project, alleging violations of environmental laws and threats to the Dixie Valley Toad, was stayed on February 14, 2023, with the company working with the BLM and FWS on the matter[75](index=75&type=chunk) - Discussions are ongoing with Kenya Power and Lighting Co. Ltd. (KPLC) regarding a presidential task force's recommendation to renegotiate PPA tariffs to secure reductions[77](index=77&type=chunk) - A special committee of independent directors is investigating claims from a short seller's report concerning compliance with anti-corruption laws, and the company is providing information to the SEC and DOJ[76](index=76&type=chunk) [Risk Factors](index=51&type=section&id=ITEM%201A.%20RISK%20FACTORS) No material changes to the company's risk factors were disclosed in its 2022 Annual Report on Form 10-K, except for a new risk factor concerning recent financial services industry events that could impact the company's cash access and the financial stability of its customers and suppliers - A new risk factor has been added regarding the potential adverse impact of recent events in the financial services industry, such as bank closures, on the company's business and financial condition[221](index=221&type=chunk) - The financial industry instability could threaten the company's access to its cash and cash equivalents and affect the ability of customers and suppliers to meet their obligations[222](index=222&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=51&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) None - None[223](index=223&type=chunk) [Defaults Upon Senior Securities](index=51&type=section&id=ITEM%203.%20DEFAULTS%20UPON%20SENIOR%20SECURITIES) None - None[224](index=224&type=chunk) [Mine Safety Disclosures](index=51&type=section&id=ITEM%204.%20MINE%20SAFETY%20DISCLOSURES) None - None[225](index=225&type=chunk) [Other Information](index=51&type=section&id=ITEM%205.%20OTHER%20INFORMATION) None - None[226](index=226&type=chunk) [Exhibits](index=52&type=section&id=ITEM%206.%20EXHIBITS) This section lists the exhibits filed with the quarterly report, including employment agreements, compensation plan documents, and certifications by the CEO and CFO - The report includes an index of all exhibits filed, such as management contracts, compensation plans, and Sarbanes-Oxley certifications[228](index=228&type=chunk)[230](index=230&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-32347 ORMAT TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 88-0326081 (State or other jurisdiction of incorporation or orga ...