Company: BNRG
Filing Date: 2025-06-13
Form Type: POS AM
Source: 0001213900-25-054302
Chunk: 32

Company: Brenmiller Energy Ltd.
Filing Date: 2025-06-13
Form: POS AM
Chunk 32
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427 | ) |
| Total equity                                                                                                                    |     | $                       |    4,486 |   |     | $         |    8,105 |   |     | $           |   12,549 |   |
| Total capitalization                                                                                                            |     | $                       |    9,099 |   |     | $         |   12,418 |   |     | $           |   16,862 |   |

The number of Ordinary
Shares to be outstanding immediately after this offering is 14,468,149, which assumes that all of the Outstanding Warrants are
exercised and is based on 13,579,259 Ordinary Shares outstanding as of June 12, 2025. This number excludes:

| ● | an aggregate of 543,205 Ordinary                                                          
 Shares issuable upon the exercise of outstanding options to purchase Ordinary Shares, at  
 exercise prices ranging between $0.01 to $247.10 per Ordinary Share, issued to directors, 
 officers, service providers and employees;                                                |

| ● | an aggregate of 482,604 Ordinary                                                                 
 Shares issuable upon the exercise of outstanding warrants to purchase Ordinary Shares, at        
 exercise prices ranging between $12.00 to $16.66 per Ordinary Share, issued to certain investors 
 in connection with private placements; and                                                       |

| ● | an aggregate of 4,615,386 Ordinary                                                           
 Shares issuable upon exercise of warrants sold in the May 2025 Offering at an exercise price 
 of $0.75 per Ordinary Share.                                                                 |

<div align='center'>16

DILUTION</div>

If you invest in our securities,
your interest will be diluted immediately to the extent of the difference between the public offering price per Ordinary Share you will
pay upon exercise of the Outstanding Warrants and the pro forma as adjusted net tangible book value per Ordinary Share after exercise
of the Outstanding Warrants. As of December 31, 2024, we had a net tangible book value of $4.5 million, corresponding to a net tangible
book value per Ordinary Share of $0.55. Net tangible book value per Ordinary Share represents the amount of our total tangible assets
less our total liabilities, divided by 8,094,791, the total number of Ordinary Shares issued and outstanding as of December 31, 2024.

Our pro forma net
tangible book value as of December 31, 2024, would have been approximately $8.