Brenmiller Energy : Investors Presentation – June 2024

COMPANY OVERVIEW

J U N E 2 0 2 4

Nasdaq: BNRG

Disclaimer

This presentation of Brenmiller Energy Ltd. (the "Company", "Brenmiller" or "Brenmiller Energy"), any oral presentation of the information contained in this presentation and any question-and-answer session that may follow contain "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements

of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this presentation when it discusses: the Company's belief that thermal energy

storage will play a major role in the energy transition; the Company's potential production capacity of $200M annually; the Company's commercial opportunities of ~6 GWh which is diversified across geographies and services; and the Company's commercial opportunities for 49 Projects representing ~ $500 Million in potential value in 12 industries across 13 countries . Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "target," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this presentation. Factors that may affect the Company's results include, but are not limited to, the Company's planned level of revenues, capital expenditures and research, development and engineering expenses, the demand for and market acceptance of its products, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, the risks associated with the adequacy of existing cash resources, and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this presentation are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2023 filed with the Securities and Exchange Commission's on March 18, 2024, which is available on the SEC's website, www.sec.gov. The information in this presentation, any oral presentation of it and any question-and-answer session that may follow does not constitute or form part of and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase securities of the Company, and nothing contained herein or therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever.

No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information herein has not been independently verified and will not be updated. The information, including but not limited to forward-looking statements, applies only as of the date of this document and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the Information, including any financial data or forward-looking statements, and, except as required by law, will not publicly release any revisions it may make to the information that may result from any change in the Company's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date of this presentation. Market data used in the information contained herein not attributed to a specific source are estimates of the Company and have not been independently verified.

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Nasdaq: BNRG

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A B O U T

Brenmiller Energy Ltd.

Nasdaq listed: BNRG

We are a clean-tech company that develops, manufactures and sells our Thermal Energy Storage ("TES") solutions to decarbonize heat for industry and power plants

1Mainly from the issuance of ordinary shares, warrants, convertible securities, loans and governmental grants.

2012 $115M 51

Founded

Capital Investments 1since inception

Employees

As of June 2024

Nasdaq: BNRG

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From Rocks to Thermal Energy Storage

Rocks are crushed	Thin metal cells ("bCells") are
to small bits	filled with the crushed rocks

bCells are stacked into	Electrical heaters
12 meter modules	are embedded

Modules are assembled	Structure is insulated
on-site to a structure	and connected to plant

Nasdaq: BNRG

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Introducing bGenTMZero

Embedded electrical heaters

100°-500° Steam

Hot air

Decarbonizing heat throughtested thermal energy storage

Source : Company materials	Nasdaq: BNRG	5

Brenmiller overview

6	73 MWh
Global projects	Cumulative projects to date
~$500m	4 GWh
Commercial opportunities	Manufacturing capacity (at full scale)
550˚C	~97%
Steam capability	Round trip efficiency3
$115m+	3,100 TWh
Capital invested to date	Serviceable available market 20301

Source : Company materials & website 1.SystemIQ - Global ETES Opportunity, 2. Levelized cost of heat range based on different service models. 75 MWh 2024 Belgian market illustrative case study with 5 MW steam demand, €10m CAPEX, €64/MWh steam price, €30/MWh electricity and grid cost, €225k annual other operating costs, 15 year lifetime, 8% discount rate. 3.Round trip efficiency = total energy output / total energy input

Nasdaq: BNRG

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Milestones

73 MWh to date

Founded

Full scale demonstration

0.5 MWh

Development	Commercialization
Validated & ready to scale	73 MWh

Europe

JV MOU

12 MWh

Heat as a service

1 MWh

IDF pilot

Expansion to 4 GWh

32 MWh

Heat as a service agreement

agreement

Product development

Manufacturing plant

4 MWh Commercial pilot

	India MoU
24 MWh
Power plant pilot		US MoU

US

Distribution

Agreement

2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022
TECHNOLOGY R&D								PILOTS

20232024

COMMERCIAL

2025+

Nasdaq: BNRG

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Key points

Industry is the largest emitter of GHG	"Everything is going electric"3
▪11 GT CO annually from industrial heat1	▪Renewable electricity now cheaper than fossil fuels
2
▪25% of total global GHG emissions from heat2	▪Power to heat efficiency ~97%

Thermal Energy Storage ("TES") = flexibility for grid	Brenmiller is a leader in deployed TES
▪	TES charges when convenient for wind & solar	▪	73 MWh in operation & construction
▪	Minimize curtailment & provide reliable heat	▪	Unique steam-to-steam ability for power plants

Source: Company materials. Industry as defined by the International Energy Agency (IEA).

1Rhodium Group & IEA. 2International Energy Agency, Renewable energy for industry, 2017. 3IEA, Electrification across the industry sector October 2021.

Nasdaq: BNRG

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Renewable heat essential for net zero

Annual average global emissions forecasts1Selected sectors gigatonnes of CO2equivalent

Global energy consumption

		26%
		Electricity	45%
		Other,	Coal
		13%
Residential,	Industry, 32%	74%
Heat
24%
		30%
			Natural Gas
	Transport, 31%
			15%
			Oil

9% Renewables

,	¼of global energy consumption2
Industrial heat accounts for

Sources: 1Rhodium Group; 2International Energy Agency, Renewable energy for industry, 2017	Nasdaq: BNRG	9

Brenmiller Targeting 62 GWh3		94%
Obtainable Market by 2030		11,000
5,000	4,500

66 %	73 %

10,000

25,400 TWh1

2,000 2,000

2,000

TAM

3,100 TWh2

SAM

62 GWh3

SOM

Source: SystemIQ - Global ETES Opportunity, Market sizing boxes are illustrative, not to scale;1Based on total TWh heat demand in 2030; 2Based on first wave retrofit applications between 200- 400C according to SystemIQ;3Assumes 6,000 operating hours, 4:1 discharge capacity ratio, and 3% market share.

400	500
25 %
30 %
10 %	65 %
69 %	11 %

2 %

4 %

83 %

11 %

8 %

11 %

1. %

1. %

3 %

10 %

21 %

1. %

1. %
   2 %

1. %

1. %

1,000

Very Low 00C - 1000C

Low 1000C - 2000C Medium 2000C - 4000C

High >4000C

0

Aluminium	Textiles	Pulp, paper,	Food beverage,	Chemicals	Cement	Iron and steel
		print	tobacco

Nasdaq: BNRG

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