Electreon Wireless : The "Future Arena" project in Italy

This is an English translation of a Hebrew immediate report that was published on December 5, 2021 (reference no.:2021-01-106078) (hereafter: the "Hebrew Version"). This English version is only for convenience purposes. This is not an official translation and has no binding force. Whilst reasonable care and skill have been exercised in the preparation hereof, no translation can ever perfectly reflect the Hebrew Version. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

(the "Company")

December 5, 2021

To	To
Israel Securities Authority	Tel Aviv Stock Exchange
Reported Via Magna	Reported Via Magna
Dear Sir and Madam,

Re: The "Future Arena" project in Italy

Following the Company's reports from November 8, 2020 and May 18, 20211, in connection with the purchase from the Company of the pilot project by Societa' di Progetto Brebemi S.p.A ("Brebemi" and the "Pilot", respectively) and the joining of automakers IVECO and Stellantis2, to the consortium of participating companies in the pilot, the Company is honored to announce the completion of the installation of an Electric Road section, one kilometer in length, on a circuit track near the A35 toll road in northern Italy. The section of road is operated via the Company's cloud- based software, which enables the monitoring of a variety of indices (parameters) among which are vehicle charging, monitoring the energy transmitted from the road and more. The in-road coil segments were installed in record time - two working days (approximately 16 hours). In addition, the road section was paved using four different types of asphalt to test the Company's system performance and deployment.

As part of the Pilot, the Company fully integrated the vehicle-components of its system, which were developed in two different types of Electric Vehicles (EVs): a passenger car, the Fiat 500, produced by Stellantis and a 12-meter electric bus, the 12E-Way, produced by IVECO. The integration was carried out with full cooperation between the Company and both the car manufacturers.

1. Reference No: 2020-01-120024 and 2021-01-085704, respectively.
2. A company that is the product of a merger between the Italian-American car company FCA (Fiat-Chrysler) and the French PSA Group (Peugeot-Citroen).

According to data obtained from the Pilot, the bus is charged with an average of about 60 kilowatts (kW) from the wireless road via three of the Company's vehicle receivers while driving at varying speeds up to approximately 50 km/h and statically, in parked mode. The passenger vehicle is charged with an average of about 16 kilowatts (kW) using one of the Company's receivers, statically and later will be tested in dynamic (driving) mode; this will be the first time a passenger vehicle has been charged wirelessly outside the Company's development facility of in Beit Yanai, Israel.

The Pilot, called The "Future Arena", is led by Brebemi, the A-35toll-road operator, and is carried out in collaboration with leading Italian and International companies and Italian academic institutions. Among the partner institutions are Brebemi, Stellantis and Iveco, ABB - one of the world's industry leaders in its sector and was responsible for the electric grid connection for the Electric Road, FIAMM Energy Technology, Mapei, Pizzarotti, Politecnico di Milano, Prysmian, TIM, Roma Tre University and the University of Parma.3

In a Press Release, Stellantis representatives stated that it sees the Company's technology as cutting edge, innovative technology in the field of charging and could be a significant enabler for Autonomous EVs. To the best of the Company's knowledge and as publicly stated, Stellantis is expected to invest around 30 billion euros in its electrification and emission reduction strategy by 2025.4

The Company estimates that the Pilot is another important step in introducing the wireless Electric Road technology that the Company is developing for intercity and highway roads, in parallel the Company sees a growing interest in such technology in Sweden, Germany and France. In addition, the Company estimates the Pilot will be used as a testbed for integration with additional automaker platforms and will help further expose the technology to the European market.

The Company's assessments and estimates regarding the success of the Pilot, the integration of its systems into additional Electric Vehicles and the penetration of the wireless Electric Road technology in Europe and the toll-road market in particular, are "forward-looking information", as defined in the Securities Law, 1968, based on many factors and variables that are not under the control of the Company. These assessments and estimates may not materialize, in whole or in part, or materialize in a different manner than expected by the

1. https://www.affaritaliani.it/amp/motori/stellantis-inaugurata-arena-del-futuro-l-innovativa-ricarica-adinduzione- 769775.html
2. https://www.cnbc.com/amp/2021/07/08/stellantis-to-invest-35point5-billion-in-evs-and-new-technologies-by2025.htm

Company. Among the main factors that can affect the Company's aforesaid estimates and assessments, are inter alia, the materialization of any of the risk factors described in the Company's periodic report for 2020 which was published on March 29, 2021 (reference number: 049917-01-2021.) It should also be clarified that the Company's wireless charging technology is in the development stages, and excluding the experiments detailed in the periodic report and in its current reports, the Company has not yet completed the system development. There is no certainty that the said development will indeed be completed, and if completed, what will be the exact results.

Sincerely,

Electreon Wireless Ltd.

Signed by:

Oren Ezer, Chairman and CEO

Barak Duani, CFO