Tranche Update on Blue Sphere Corporation's Equity Buyback Plan announced on June 17, 2015.

Blue Sphere Corporation is an international independent power producer. The Company focuses on developing or acquiring projects with clean energy technologies, including waste-to-energy facilities that generate clean energy, such as electricity, natural gas, heat, soil amendment and other by-products. It is engaged in developing, constructing or operating approximately 20 projects related to its strategy of acquisition, development or operations of waste-to-energy or clean-tech facilities, which includes developing projects for which it has entered into nonbinding letters of intent to acquire additional biogas facilities in Italy and to develop and construct waste-to-energy or clean-tech facilities in the United States, the Netherlands, the United Kingdom and Israel. The Company is focused on several types of projects: anaerobic digestion to electricity, landfill gas to energy, anaerobic digestion to gas, gasification, incineration and energy crop to electricity.