Here are 1-3 brief analogies for Kenon Holdings:

• A smaller, more focused Berkshire Hathaway that primarily invests in and manages significant stakes in companies operating in power generation and shipping.
• Like a mini-IAC (InterActiveCorp), but instead of internet and media companies, Kenon owns and actively manages large stakes in industrial assets such as power generation and shipping companies.

• Container Shipping Services: Provides global maritime transportation of containerized cargo.
• Electricity Generation and Supply: Develops, owns, and operates power plants to generate and supply electricity.

• Chevron (NYSE: CVX)
• NewMed Energy (TASE: NWMD)
• Ratio Energies (TASE: RATI)
• Paz Oil Company Ltd. (TASE: PZOL)

Robert L. Rosen, Chief Executive Officer
Mr. Rosen has served as CEO of Kenon since September 2017 and is also an executive director on Kenon's board and a director on the board of OPC Energy Ltd.. He is a Member of the Advisory Board of James Cook University Singapore. Before becoming CEO, Mr. Rosen served as Kenon's General Counsel, joining the company in 2014. Prior to Kenon, he spent 15 years in private practice with top-tier law firms, including Linklaters LLP and Milbank LLP. He previously left positions at blue-chip law firms, including a seven-year tenure at Linklaters Singapore office. He also consulted with P&C Ventures Limited on cross-border equity security offerings. Mr. Rosen holds a Bachelor's degree from Boston University, a Juris Doctor, and a Master of Business Administration from the University of Pittsburgh.

Deepa Joseph, Chief Financial Officer
Ms. Joseph joined Kenon Holdings Ltd. in June 2023 and has served as Chief Financial Officer since September 2023. She also serves as Chief Financial Officer of Ansonia Holdings Singapore B.V.. Before joining Ansonia Holdings Singapore B.V., Ms. Joseph held senior finance positions from 2012 to 2023 at Eastern Pacific Shipping Pte. Ltd. and Quantum Pacific Shipping Services Pte. Ltd., both of which may be associated with Mr. Idan Ofer. She is a Chartered Accountant (Institute of Singapore Chartered Accountants). Ms. Joseph holds a Masters in Business Administration (specializing in Accountancy) from Nanyang Business School, Singapore, and a Bachelors in Science (Mathematics) from Mahatma Gandhi University, India.

Cyril Pierre Jean Ducau, Chairman
Mr. Ducau has been the Chairman of Kenon since 2014. He previously served as Head of Business Development of Quantum Pacific Advisory in London from 2008 to 2012 and as Director and Chairman of Pacific Drilling SA between 2011 and 2018. Before joining Quantum Pacific Advisory, Mr. Ducau was Vice President in the Investment Banking Division of Morgan Stanley & Co. International Ltd. in London from 2000 to 2008, where he worked in Capital Markets, Leveraged Finance, and Mergers and Acquisitions teams. He currently serves as the Chief Executive Officer of Ansonia and Eastern Pacific Shipping Pte Ltd, Chairman of Cool Company Ltd, and a Director of Ansonia and Gard P&I (Bermuda) Ltd. He is also a member of the board of directors of Ansonia Holdings Singapore B.V. and other private companies, each potentially associated with Mr. Idan Ofer.

The accelerating global energy transition towards renewable energy sources and advanced energy storage solutions, driven by rapidly declining technology costs and increasingly stringent climate policies, poses a significant emerging threat to traditional fossil fuel-based power generation companies like Kenon's primary asset, OPC Energy. This trend could lead to increased competition from lower-cost renewable energy, reduced demand for conventional power generation, potential stranded asset risk for existing infrastructure, and growing regulatory and financial pressures to decarbonize faster than planned.

Power Generation (OPC Energy)

Container Shipping (ZIM Integrated Shipping Services)

Automobile Manufacturing (Qoros Auto)

1. Expansion of Power Generation Capacity in the U.S. with the Basin Ranch Project: A significant driver for revenue growth is the advancement of CPV's Basin Ranch natural gas project in Texas. Construction for this major growth venture is anticipated to commence in the second half of 2025, supported by a potential $1 billion subsidized loan. This expansion in the U.S. power generation market is expected to contribute substantially to OPC's, and thus Kenon's, future revenue.
2. Development of the Hadera 2 Project in Israel: In August 2025, the Israeli government approved the plan to construct the Hadera 2 project, an 850MW power facility. The development and eventual operation of this significant power plant in Israel are poised to increase OPC's electricity generation and supply capabilities, leading to higher revenues.
3. Growth in U.S. Retail Electricity Activities: OPC has demonstrated growth in its U.S. retail electricity activities. Revenue from the sale of electricity in the U.S. (retail) increased in Q1 2025 compared to Q1 2024, primarily due to an increased scope of services. Continued expansion and customer acquisition in this segment are expected to fuel further revenue growth.
4. Increased Ownership in CPV Subsidiaries: OPC's strategy includes increasing its ownership stakes in key subsidiaries. In Q4 2024 and Q2 2025, OPC increased its ownership in CPV Shore and CPV Maryland, which is expected to enhance its share of profits from these associated companies and contribute to overall revenue growth.

Share Repurchases

• Kenon Holdings initiated a share repurchase plan of up to $50 million in March 2023.
• The authorized share repurchase plan was increased to up to $60 million in August 2024, and further expanded by $10 million to a total of $70 million in August 2025.
• Since the commencement of the plan in March 2023, Kenon has repurchased approximately 1.8 million shares for a total consideration of approximately $48 million as of August 2025.

Outbound Investments

• In June and August 2025, Kenon participated in offerings of new shares by its subsidiary OPC Energy. OPC raised a total of $506 million in gross proceeds from these offerings.
• Kenon invested approximately $90 million in OPC Energy's June 2025 share offering to maintain its stake, which decreased to approximately 49.8% after the offerings.

Capital Expenditures

• The Israeli Government approved the Hadera 2 project in August 2025, an 850MW gas-fired power plant, with estimated construction costs of approximately NIS 4.5-5 billion (approximately $1.3-$1.5 billion).
• Capital expenditures are projected at $338 million for 2025, primarily focused on building power facilities.
• High capital expenditure is noted as being required for building power facilities, contributing to Kenon's long-term debt.