Company: BNRG
Filing Date: 2025-06-13
Form Type: POS AM
Source: 0001213900-25-054302
Chunk: 50

Company: Brenmiller Energy Ltd.
Filing Date: 2025-06-13
Form: POS AM
Chunk 50
---
 higher interest rate of (i) 12 months SOFR, plus 1%,
or (ii) a fixed annual interest rate of 4%.

The terms of the Research
Law also require that the manufacture of products developed with government grants be performed in Israel unless the IIA approved otherwise
in the original approval letter of the funded program. The transfer of manufacturing activity outside Israel which was not originally
approved in the approval letter is subject to the prior approval of the IIA. Under the regulations of the Research Law, assuming we receive
approval from the IIA to manufacture our IIA-funded products outside Israel, we may be required to pay increased royalties. The increase
in royalties depends upon the manufacturing volume that is performed outside of Israel as follows:

| Percentage of manufacturing activities performed outside of Israel, cumulatively |     | The increased                          
 payment to the IIA                     |
| Up to 50%                                                                        |     | 120% of the received grants + interest |
| 50% - 90%                                                                        |     | 150% of the received grants + interest |
| 90% or more                                                                      |     | 300% of the received grants + interest |

<div align='center'>26</div>

If the manufacturing is performed
outside of Israel by us, the rate of royalties payable by us on revenues from the sale of products manufactured outside of Israel will
increase by 1% over the regular rates. If the manufacturing is performed outside of Israel by a third party, the rate of royalties payable
by us on those revenues will be equal to the ratio obtained by dividing the amount of the grants received from the Office of the IIA and
our total investment in the project that was funded by these grants. The transfer of no more than 10% of the manufacturing capacity in
the aggregate outside of Israel is exempt under the Research Law from obtaining the prior approval of the IIA, however, the Company is
required to notify the IIA regarding such transfer. A company requesting funds from the IIA also has the option of declaring in its IIA
grant application an intention to perform part of its manufacturing outside Israel, thus avoiding the need to obtain additional approval.
On January 6, 2011, the Research Law was amended to clarify that the potential increased royalties specified in the table above will apply
even in those cases where the IIA approval for transfer of manufacturing outside of Israel is not required, namely when the volume of
the transferred manufacturing capacity is less than 10% of