Exhibit 99.2
Dorad Energy Ltd.
Interim Condensed Statements of Financial Position
| March 31 | March 31 | December 31 | ||||||||||
| 2026 | 2025 | 2025 | ||||||||||
| (Unaudited) | (Unaudited) | (Audited) | ||||||||||
| NIS thousands | NIS thousands | NIS thousands | ||||||||||
| Current assets | ||||||||||||
| Cash and cash equivalents | 758,087 | 1,030,373 | 695,247 | |||||||||
| Trade receivables and accrued income | 197,232 | 247,812 | 305,139 | |||||||||
| Other receivables | 75,731 | 26,929 | 51,703 | |||||||||
| Financial derivatives | 586 | 803 | - | |||||||||
| Total current assets | 1,031,636 | 1,305,917 | 1,052,089 | |||||||||
| Non-current assets | ||||||||||||
| Restricted deposit | 491,547 | 541,855 | 495,192 | |||||||||
| Long-term Prepaid expenses | 98,283 | 79,666 | 98,788 | |||||||||
| Fixed assets | 2,559,235 | 2,678,973 | 2,578,120 | |||||||||
| Intangible assets | 9,330 | 10,215 | 9,423 | |||||||||
| Right of use assets | 50,439 | 53,332 | 51,599 | |||||||||
| Total non-current assets | 3,208,834 | 3,364,041 | 3,233,122 | |||||||||
| Total assets | 4,240,470 | 4,669,958 | 4,285,211 | |||||||||
| Current liabilities | ||||||||||||
| Current maturities of loans from banks | 309,369 | 347,509 | 291,329 | |||||||||
| Current maturities of lease liabilities | 5,294 | 4,991 | 5,298 | |||||||||
| Current tax liabilities | 18,295 | 24,119 | 18,403 | |||||||||
| Trade payables | 221,776 | 297,164 | 277,149 | |||||||||
| Other payables | 82,072 | 14,865 | 103,604 | |||||||||
| Total current liabilities | 636,806 | 688,648 | 695,783 | |||||||||
| Non-current liabilities | ||||||||||||
| Loans from banks | 1,497,958 | 1,756,777 | 1,508,206 | |||||||||
| Other long-term liabilities | 6,728 | 60,872 | 7,275 | |||||||||
| Long-term lease liabilities | 44,569 | 47,198 | 44,441 | |||||||||
| Provision for restoration and decommissioning | 37,941 | 37,212 | 38,886 | |||||||||
| Deferred tax liabilities | 419,273 | 405,837 | 424,828 | |||||||||
| Liabilities for employee benefits, net | 160 | 160 | 160 | |||||||||
| Total non-current liabilities | 2,006,629 | 2,308,056 | 2,023,796 | |||||||||
| Equity | ||||||||||||
| Share capital | 11 | 11 | 11 | |||||||||
| Share premium | 642,199 | 642,199 | 642,199 | |||||||||
| Capital reserve from activities with shareholders | 3,748 | 3,748 | 3,748 | |||||||||
| Retained earnings | 951,077 | 1,027,296 | 919,674 | |||||||||
| Total equity | 1,597,035 | 1,673,254 | 1,565,632 | |||||||||
| Total liabilities and equity | 4,240,470 | 4,669,958 | 4,285,211 | |||||||||
Dorad Energy Ltd.
Interim Condensed Statements of Profit or Loss
| For the three months ended | Year ended | |||||||||||
| March 31 | December 31 | |||||||||||
| 2026 | 2025 | 2025 | ||||||||||
| (Unaudited) | (Unaudited) | (Audited) | ||||||||||
| NIS thousands | NIS thousands | NIS thousands | ||||||||||
| Revenues | 592,356 | 610,554 | 2,650,533 | |||||||||
| Operating costs of the Power Plant | ||||||||||||
| Energy costs | 97,423 | 105,220 | 457,218 | |||||||||
| Electricity purchase and infrastructure services | 306,616 | 325,315 | 1,360,728 | |||||||||
| Depreciation and amortization | 56,687 | 51,418 | 223,701 | |||||||||
| Other operating costs | 53,345 | 43,475 | 187,916 | |||||||||
| Total operating costs of Power Plant | 514,071 | 525,428 | 2,229,563 | |||||||||
| Profit from operating the Power Plant | 78,285 | 85,126 | 420,970 | |||||||||
| General and administrative expenses | 9,484 | 8,186 | 35,628 | |||||||||
| Other income | - | - | 36 | |||||||||
| Operating profit | 68,801 | 76,940 | 385,378 | |||||||||
| Financing income | 12,243 | 28,452 | 63,434 | |||||||||
| Financing expenses | 40,304 | 32,743 | 256,638 | |||||||||
| Financing expenses, net | 28,061 | 4,291 | 193,204 | |||||||||
| Profit before taxes on income | 40,740 | 72,649 | 192,174 | |||||||||
| Taxes on income | 9,337 | 16,659 | 43,806 | |||||||||
| Net profit for the period | 31,403 | 55,990 | 148,368 | |||||||||
2
Dorad Energy Ltd.
Interim Condensed Statements of Changes in Shareholders’ Equity
| Capital | ||||||||||||||||||||
| reserve | ||||||||||||||||||||
| for activities | ||||||||||||||||||||
| Share | Share | with | Retained | |||||||||||||||||
| capital | premium | shareholders | earnings | Total Equity | ||||||||||||||||
| NIS thousands | NIS thousands | NIS thousands | NIS thousands | NIS thousands | ||||||||||||||||
| For the three months ended March 31, 2026 (Unaudited) | ||||||||||||||||||||
| Balance as at January 1, 2026 (Audited) | 11 | 642,199 | 3,748 | 919,674 | 1,565,632 | |||||||||||||||
| Net profit for the period | - | - | - | 31,403 | 31,403 | |||||||||||||||
| Balance as at March 31, 2026 (Unaudited) | 11 | 642,199 | 3,748 | 951,077 | 1,597,035 | |||||||||||||||
| For the three months ended March 31, 2025 (Unaudited) | ||||||||||||||||||||
| Balance as at January 1, 2025 (Audited) | 11 | 642,199 | 3,748 | 971,306 | 1,617,264 | |||||||||||||||
| Net profit for the period | - | - | - | 55,990 | 55,990 | |||||||||||||||
| Balance as at March 31, 2025 (Unaudited) | 11 | 642,199 | 3,748 | 1,027,296 | 1,673,254 | |||||||||||||||
| For the year ended December 31, 2025 (Audited) | ||||||||||||||||||||
| Balance as at January 1, 2025 (Audited) | 11 | 642,199 | 3,748 | 971,306 | 1,617,264 | |||||||||||||||
| Dividend distributed | - | - | - | (200,000 | ) | (200,000 | ) | |||||||||||||
| Net profit for the year | - | - | - | 148,368 | 148,368 | |||||||||||||||
| Balance as at December 31, 2025 (Audited) | 11 | 642,199 | 3,748 | 919,674 | 1,565,632 | |||||||||||||||
3
Dorad Energy Ltd.
Interim Condensed Statements of Cash Flows
| For the three months ended | Year ended | |||||||||||
| March 31 | December 31 | |||||||||||
| 2026 | 2025 | 2025 | ||||||||||
| (Unaudited) | (Unaudited) | (Audited) | ||||||||||
| NIS thousands | NIS thousands | NIS thousands | ||||||||||
| Cash flows from operating activities: | ||||||||||||
| Net Profit for the period | 31,403 | 55,990 | 148,368 | |||||||||
| Adjustments to profit or loss items: | ||||||||||||
| Depreciation and amortization | ||||||||||||
| and fuel consumption | 66,514 | 53,036 | 257,015 | |||||||||
| Taxes on income | 9,337 | 16,659 | 43,806 | |||||||||
| Financing expenses, net | 28,061 | 4,291 | 193,204 | |||||||||
| 103,912 | 73,986 | 494,025 | ||||||||||
| Changes in asset and liability items: | ||||||||||||
| Change in trade receivables and accrued income | 107,907 | (62,187 | ) | (119,514 | ) | |||||||
| Change in other receivables | (24,028 | ) | 5,471 | (19,304 | ) | |||||||
| Change in trade payables | (51,367 | ) | 116,677 | 121,033 | ||||||||
| Change in other payables | (21,534 | ) | (106 | ) | 22,464 | |||||||
| Change in other long-term liabilities | 52 | 315 | (27,664 | ) | ||||||||
| 11,030 | 60,170 | (22,985 | ) | |||||||||
| Cash paid during the year for: | ||||||||||||
| Taxes paid | (15,000 | ) | - | (14,016 | ) | |||||||
| Net cash from operating activities | 131,345 | 190,146 | 605,392 | |||||||||
| Cash flows from investing activities: | ||||||||||||
| Proceeds (payment) from settlement of financial derivatives, net | 96 | 289 | (5,781 | ) | ||||||||
| Changes in restricted deposits | - | - | 27,350 | |||||||||
| Investment in fixed assets | (46,496 | ) | (34,249 | ) | (103,262 | ) | ||||||
| Investment in intangible assets | (618 | ) | (1,115 | ) | (4,668 | ) | ||||||
| Interest received | 10,961 | 14,847 | 59,519 | |||||||||
| Net cash used in investing activities | (36,057 | ) | (20,228 | ) | (26,842 | ) | ||||||
| Cash flows from financing activities: | ||||||||||||
| Repayment of lease liability | (163 | ) | - | (4,998 | ) | |||||||
| Receipt of loans from banks | 1,923,109 | - | - | |||||||||
| Repayment of loans from banks | (1,785,312 | ) | - | (320,012 | ) | |||||||
| Dividends paid | - | - | (200,000 | ) | ||||||||
| Interest and commissions paid | (163,569 | ) | (190 | ) | (105,341 | ) | ||||||
| Net cash used in financing activities | (25,935 | ) | (190 | ) | (630,351 | ) | ||||||
| Net increase (decrease) in cash and cash equivalents | 69,353 | 169,728 | (51,801 | ) | ||||||||
| Effect of exchange rate fluctuations on cash and cash equivalents | (6,513 | ) | 14,080 | (99,517 | ) | |||||||
| Cash and cash equivalents at beginning of period | 695,247 | 846,565 | 846,565 | |||||||||
| Cash and cash equivalents at end of period | 758,087 | 1,030,373 | 695,247 | |||||||||
| (a) Significant non-cash activity | ||||||||||||
| Liability for gas agreements | - | 432 | 44,615 | |||||||||
4