What changed in this filing

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Item 2. Properties

2024-02-26 compared with 2023-02-22 · 17 added, 25 removed, 2 unchanged (95% of the section changed)

Our corporate headquarters are located in

Herziliya Pituach, Israel .

Leased Offices and R&D Laboratories

As of December 31,

2022 , we lease office, testing, and product design facilities in Israel.

In May, 2021, we signed a long-term lease agreement for

the development of a 38,000 square meter campus, to be built on 16.5 acres of land, in the central area of Israel.

The campus, which is

scheduled to be completed in the first half of 2025, will replace our current headquarters in Herziliya, Israel.

corporate headquarters are located in Herziliya Pituach, Israel.

Offices and R&D Laboratories

December 31, 2023, we lease office, testing, and product design facilities in Israel.

In May 2021, we signed a long-term lease agreement

for the development of a 38,000 square meter campus, to be built on 16,500 square meters of land, in the central area of Israel.

which is scheduled to be completed in by the end of 2025, will replace our current headquarters in Herziliya, Israel.

to our leased properties in Israel, we lease offices and lab facilities in California, Nevada, Germany, Netherlands, Italy, France, Australia,

UK, Japan, Turkey, India, Bulgaria, Belgium, Taiwan, Korea, Brazil, Mexico and China as well as an R&D and call center in Bulgaria.

UK, Japan, India, Bulgaria, Belgium, Taiwan, Korea, Brazil, Mexico, China, Spain, Sweden, Vietnam and Poland.

Manufacturing

We outsource most of our manufacturing to

our manufacturing partners.

We have our own manufacturing facility, Sella 1, in the North of Israel.

We also have a factory in which we

manufacture lithium-ion batteries for our storage business operations, through our Korean subsidiary (formerly Kokam), and have completed

the construction of Sella 2, our second lithium-ion cell and battery factory in Korea.

For our e-Mobility and Automation Machines divisions,

we have manufacturing facilities in Umbria, Italy for the assembly of batteries and other components for light commercial vehicles.

Owned Properties

In addition to our leased properties, we also

own manufacturing facilities in Italy, manufacturing facilities in South Korea and an office space in

We believe that our existing properties are

in good condition and are sufficient and suitable for the conduct of our business for the foreseeable future.

To the extent our needs

change as our business grows, we expect that additional space and facilities will be available on commercially reasonable terms.

most of our manufacturing to our manufacturing partners.

We have our own manufacturing facility, Sella 1 (which property is leased), in

the North of Israel, which is used in our solar segment.

We also have our own manufacturing facility, Sella 2 (which property is leased),

in South Korea and own an additional smaller facility in South Korea, both of which are used in our Energy Storage segment.

manufacturing facilities in Umbria, Italy which currently are used by Automation Machines and for refurbishment of solar products as well

as support for remaining commitments of e-Mobility parts.

that our existing properties are in good condition and are sufficient and suitable for the conduct of our business for the foreseeable

To the extent our needs change as our business grows, we expect that additional space and facilities will be available on commercially

reasonable terms.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties