NewMed Energy Partnership : Judgment in claim filed by the Partnership against Energean

NewMed Energy - Limited Partnership

(the "Partnership")

Dear Sir/Madam,

Re: Judgment in claim filed by the Partnership against Energean

Further to Section 7.25.13 of the Partnership's periodic report for 2022, as released on 28 March 2023 (Ref. no.: 2023-01-033096), Section 7(g) of the update to Chapter A of the Partnership's Q1/2023 report, as released on 11 May 2023 (Ref. no.: 2023-01- 050346), and Section 14(f) of the update to Chapter A of the Partnership's Q2/2023 report, as released on 21 August 2023 (Ref. no.: 2023-01-095937), regarding a financial claim that the Partnership filed against Energean Israel Limited ("Energean" and the "Legal Proceeding", respectively) in connection with the timing of payment of the balance of the consideration under the agreement for the sale of the interests in the Karish and Tanin leases, and regarding the parties' agreement to refer the case to mediation, the Partnership respectfully reports that on 5 November 2023, a judgment was entered on the agreements reached between the parties (the "Agreement").

According to the Agreement, Energean will pay the Partnership, in two installments in 2024, the sum total of approx. $47.4 million, which constitutes the full balance of the consideration plus agreed annual interest. The aforesaid constitutes full and final discharge of the parties' claims regarding the disputes contemplated in the Legal Proceeding.

Sincerely,

NewMed Energy Management Ltd.

General Partner of NewMed Energy - Limited Partnership

By: Yossi Abu, CEO

and Sari Singer Kaufman, General Counsel, EVP