Company: BNRG
Filing Date: 2025-04-09
Form Type: DRS
Source: 0001213900-25-030015
Chunk: 29

Company: Brenmiller Energy Ltd.
Filing Date: 2025-04-09
Form: DRS
Chunk 29
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grade, interest bearing instruments and U.S. government securities.

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DIVIDEND POLICY</div>

We have never declared or
paid any cash dividends on our Ordinary Shares and do not anticipate paying any cash dividends in the foreseeable future. Payment of cash
dividends, if any, in the future will be at the discretion of our board of directors and will depend on then-existing conditions, including
our financial condition, operating results, contractual restrictions, capital requirements, business prospects and other factors our board
of directors may deem relevant. Under the Companies Law, the repurchase of shares is considered a dividend distribution.

The Companies Law imposes
further restrictions on our ability to declare and pay dividends. Under the Companies Law, we may declare and pay dividends only if, upon
the determination of our board of directors, there is no reasonable concern that the distribution will prevent us from being able to meet
the terms of our existing and foreseeable obligations as they become due, generally referred to as the Solvency Criteria. Under the Companies
Law, the distribution amount is further limited to the greater of retained earnings or earnings generated over the two most recent years
legally available for distribution according to our then last reviewed or audited financial statements, provided that the end of the period
to which the financial statements relate is not more than six months prior to the date of distribution, generally referred to as the Earnings
Criteria. In the event that we do not meet such Earnings Criteria, we may seek the approval of a court in order to distribute a dividend.
The court may approve our request if it is convinced that we comply with the Solvency Criteria.

However, pursuant to regulations
promulgated under the Companies Law applicable for Israeli companies whose shares are listed on stock exchanges outside of Israel, or
the Exemptions Regulations, an Israeli company whose shares are listed outside of Israel is permitted to perform a distribution by
way of repurchasing its own shares, even if the Earnings Criteria are not met, without the need for court approval. The exemption is subject
to certain conditions, including, among others: (i) The distribution meets the Solvency Criteria; and (ii) no rejection was filed by any
of the company’s creditors to the court. If any creditor objects to the distribution, the company will be required to obtain the
court’s approval for the distribution.

Payment of dividends
may be subject to Israeli withholding taxes (see “Taxation” for additional