Kenon Holdings

Kenon Holdings Ltd. announced that the Republic of Peru has paid the arbitration award rendered in favor of Kenon by an International Centre for Settlement of Investment Disputes tribunal in October 2023. The total payment was approximately $203 million, of which Kenon's share after allocation of a portion of the proceeds to a capital provider and payment of certain expenses is approximately $93 million, subject to tax. The payment reflects final payment of amounts payable by the Republic of Peru in connection with the award and conclusion of this matter. Peru was ordered to pay Kenon and IC Power $110.7 million in damages together with $6.4 million in certain fees and costs, plus pre-award and post-award interest, following the dismissal of Peru's application to annul the award.