Company: BNRG
Filing Date: 2025-05-01
Form Type: F-1/A
Source: 0001213900-25-038040
Chunk: 55

Company: Brenmiller Energy Ltd.
Filing Date: 2025-05-01
Form: F-1/A
Chunk 55
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 the Prior Warrants to, among other things, reduce the
exercise price of such Prior Warrants to no less than $0.10 per Ordinary Share.

<div align='center'>29

TAXATION</div>

Tax Treatment of Pre-Funded Warrants

Although
it is not entirely free from doubt, we believe a Pre-Funded Warrant should be treated as an ordinary share for U.S. federal income tax
purposes and a holder of Pre-Funded Warrants should generally be taxed in the same manner as a holder of our ordinary shares, as described
below (except as otherwise noted below). However, our characterization is not binding on the U.S. Internal Revenue Services, or IRS, and
the IRS may treat the Pre-Funded Warrants as warrants to acquire our ordinary shares. If so, the tax consequences, including the amount
and character of your gain, with respect to an investment in our Pre-Funded Warrants could change. Accordingly, each U.S. Holder should
consult his, her or its own tax advisor regarding the risks associated with the acquisition of Pre-Funded Warrants pursuant to this offering
(including potential alternative characterizations). The balance of this discussion generally assumes that the characterization described
above is respected for U.S. federal income tax purposes unless otherwise noted.

Sale, Exchange or Other Taxable Disposition of Ordinary Shares or Pre-Funded Warrants. Subject to the discussion under “Passive Foreign
Investment Company” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2024, filed with the SEC on March 4,
2025, a U.S. Holder generally will recognize capital gain or loss upon the sale, exchange, or other taxable disposition of our ordinary
shares or Pre-Funded Warrants in an amount equal to the difference between the amount realized on the sale, exchange, or other taxable
disposition and the U.S. Holder’s adjusted tax basis (determined under U.S. federal income tax rules) in such ordinary shares or
Pre-Funded Warrants . This capital gain or loss will be long-term capital gain or loss if the U.S. Holder’s holding period in our
ordinary shares or Pre-Funded Warrants exceeds one year. Preferential tax rates for long-term capital gain (currently, with a maximum
rate of 20%) will apply to individual U.S. Holders. The deductibility of capital losses is subject to limitations. The gain or loss generally
will be income or