----

| Name of Subsidiary                                                  | Percentage of Ownership | Jurisdiction of Incorporation |
|---------------------------------------------------------------------|-------------------------|-------------------------------|
| Ellomay Clean Energy Ltd.                                           | 100%                    | Israel                        |
| Ellomay Clean Energy LP                                             | 100%                    | Israel                        |
| Ellomay Luxemburg Holdings S.àr.l.                             | 100%                    | Luxemburg                     |
| Ellomay PV One S.r.l.                                               | 100%1                   | Italy                         |
| Ellomay PV Two S.r.l.                                               | 100%1                   | Italy                         |
| Ellomay PV Five S.r.l.                                              | 100%1                   | Italy                         |
| Ellomay PV Six S.r.l.                                               | 100%1                   | Italy                         |
| Ellomay PV Seven S.r.l. (formerly Energy Resources Galatina S.r.l.) | 100%1                   | Italy                         |
| Pedale S.r.l.                                                       | 100%1                   | Italy                         |
| Luma Solar S.r.l.                                                   | 100%1                   | Italy                         |
| Murgia Solar S.r.l.                                                 | 100%1                   | Italy                         |
| Soleco S.r.l                                                        | 100%1                   | Italy                         |
| Technoenergy S.r.l                                                  | 100%1                   | Italy                         |
| Ellomay Spain S.L.                                                  | 100%1                   | Spain                         |
| Rodríguez I Parque Solar, S.L                                  | 100%1                   | Spain                         |
| Rodríguez II Parque Solar, S.L.                                | 100%1                   | Spain                         |
| Seguisolar S.L.                                                     | 100%1                   | Spain                         |
| Talasol Solar S.L.                                                  | 100%1                   | Spain                         |
| Ellomay Holdings Talmei Yosef Ltd.                                  | 100%                    | Israel                        |
| Ellomay Sun Team Ltd.                                               | 100%2                   | Israel                        |
| Ellomay Talmei Yosef Ltd.                                           | 100%3                   | Israel                        |
| Ellomay Water Plants Holdings (2014) Ltd.                           | 100%                    | Israel                        |
| Ellomay Manara (2014) Ltd.                                          | 100%4                   | Israel                        |
| Ellomay Pumped Storage (2014) Ltd.                                  | 75%4                    | Israel                        |
| Chasgal Elyon Ltd.                                                  | 75%5                    | Israel                        |
| Agira Sheuva Electra, L.P.                                          | 75%5                    | Israel                        |
| Groen Gas Goor B.V.                                                 | 51%1                    | The Netherlands               |
| Groen Goor, Independent Power Plant B.V.                            | 51%6                    | The Netherlands               |
| Groen Gas Oude-Tonge B.V.                                           | 51%1                    | The Netherlands               |
| Oude Tonge Oude Tonge Holdings B.V.                                 | 51%7                    | The Netherlands               |

|  | 1. | Held by Ellomay Luxemburg Holdings S.àr.l. |
|--|----|-------------------------------------------------|

|  | 2. | Held by Ellomay Holdings Talmei Yosef Ltd. |
|--|----|--------------------------------------------|

|  | 3. | Held by Ellomay Sun Team Ltd. |
|--|----|-------------------------------|

|  | 4. | Held by Ellomay Water Plants Holdings (2014) Ltd. |
|--|----|---------------------------------------------------|

|  | 5. | Held by Ellomay Manara (2014) Ltd. |
|--|----|------------------------------------|

|  | 6. | Wholly-owned by Groen Gas Goor B.V. |
|--|----|-------------------------------------|

|  | 7. | Wholly-owned by Groen Gas Oude-Tonge B.V. |
|--|----|-------------------------------------------|

----