S. Nechama Investments, Kanir Joint Investments, Anat Raphael To Sell Ellomay Capital Stake To O.Y. Nofar Energy For ~$310.4M

Ellomay Capital Ltd. (NYSE American; TASE: ELLO) ("Ellomay" or the "Company"), a renewable energy and power generator and developer of renewable energy and power projects in Europe, Israel and USA, today announced that S. Nechama Investments (2008) Ltd., Kanir Joint Investments (2005) LP and Anat Raphael, who together currently hold approximately 45.9% of the Company's outstanding share capital (together, the "Sellers"), agreed to sell their holdings in the Company to O.Y. Nofar Energy Ltd. ("Nofar"), a public company listed on the Tel Aviv Stock Exchange Ltd. (TASE: NOFR). As described below, the closing of the sale is subject to the receipt of certain regulatory approvals.