Company: BNRG
Filing Date: 2025-05-01
Form Type: F-1/A
Source: 0001213900-25-038040
Chunk: 31

Company: Brenmiller Energy Ltd.
Filing Date: 2025-05-01
Form: F-1/A
Chunk 31
---
may be subject to Israeli withholding taxes (see “Taxation” for additional information).

<div align='center'>16

CAPITALIZATION</div>

The following table sets forth
our cash and cash equivalents and our capitalization as of December 31, 2024:

| ● | on               
 an actual basis; |

| ● | on                                       
 a pro forma basis which gives effect to: |

| (i) | the                                                                                                                                    
 issuance and sale of 477,627 Ordinary Shares from December 31, 2024 to the date of this prospectus under a sales agreement pursuant to 
 an “at-the-market” offering;                                                                                                           |

| (ii) | the                                                                                                                              
 issuance of an aggregate of 234,201 Ordinary Shares  with respect to 234,201 restricted share units we have granted to employees 
 from December 31, 2024 to the date of this prospectus; and                                                                       |

| ● | on                                                                                                                                      
 a pro forma as adjusted basis to give further effect to the issuance and sale in this offering of Ordinary Shares and accompanying      
 Series B Warrants and Series C Warrants at an assumed public offering price of $1.332 per Ordinary Share, which was the last reported   
 sales price on Nasdaq of our Ordinary Shares on April 24, 2025, and assuming no sale of Pre-Funded Warrants, after deducting estimated  
 placement agent fees and expenses and estimated offering expenses payable by us, as if the sale of the Ordinary Shares and accompanying 
 Warrants had occurred on December 31, 2024.                                                                                             |

The pro forma as adjusted
information set forth in the table below is illustrative only and will be adjusted based on the actual public offering price and other
terms of this offering determined at pricing. The below assumes that all of the Ordinary Shares offered hereby are sold, and that no Pre-Funded Warrants are issued in this offering which, if sold, would reduce the number of ordinary shares that we are offering on a one-for-one basis.

You should read this table
in conjunction with the sections titled “Selected Financial Data” and our financial statements and related notes incorporated
by reference in this prospectus.

|                                                                                                                                                                                                                                                                                                                 |     | As of December 31, 2024 |          |   |     |           |          |   |     |              |          |   |
|:----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:------------------------|---------:|:--|:----|:----------|---------:|: